NexTech AR To Acquire Work-At-Home Remote Virtual Events Webcasting Software Company - Seite 2

Evan Gappelberg, CEO of NexTech commented “On January 28th we announced that we had started working with the team at Jolokia to integrate our AR into their Video Learning Experience Platform. The NexTech team quickly cracked the code on the integration of our AR into their platform, creating an enormous opportunity for both companies.” Gappelberg continues “Imagine watching a training video, going to a virtual conference or webinar and being able to take what you are seeing on screen and put it in the room with you as a 3D/AR experience.  Having AR seamlessly work in video training, virtual conferences or webinars provides us with competitive differentiation and a very timely addition to our AR omni-channel offerings.  With the spread of the Coronavirus all governments, Learning Institutions and Corporations are forcing a huge paradigm shift in society to remote work, training and learning creating massive new demand which should lead to explosive adoption for this platform.  We expect to see a big upside in this deal for NexTech shareholders.”

With the Global coronavirus pandemic disrupting all large gatherings demand for remote training is surging which will undoubtedly drive awareness and adoption of the company’s video conferencing, live streaming and remote training platform with integrated AR features. Many global companies including Google, Microsoft, Twitter. Hitachi, Apple, Amazon, Chevron, Salesforce and Spotify have rolled out mandatory work-from-home policies amid the spread of Covid-19. The fast-spreading Covid-19, has increased demand for Jolokia’s software as schools close, business travel, conferences and leisure travel are all cancelled and more employees work from home. The work-from-home trend had already started with ZOOM’s (ZM), popularity before the Coronavirus. Now that the Coronavirus has emerged demand has surged which should drive demand for the merged company’s remote-work AR tools which include: AR-virtual conferences, AR-live streaming, AR-webcasting, AR-remote training.

Recent Company News in 2020:

• The Aritize360 “early Access” app to launch in March. The app, once launched, will be a boost to the revenue-generating power of the existing AR eCommerce solution and recently launched 3D/AR advertising platform.
   
• The company achieved $800,000 in revenue for the month of January 2020 and gross profits of $528,000 representing a 66% Gross profit versus a 59% gross profit last month. This is the highest revenue achieved in a single month for NexTech, which represents a 110% increase in revenue and 172% increase in gross profits year over year.