NexTech AR Acquires Fast-Growing Profitable Amazon eCommerce Launch Platform - Seite 2

“I believe that Next Level Ninja for eCommerce can quickly be a multi-million dollar business and be as big a driver of revenue and cash flow as our Jolkia acquisition,” said Gappelberg. “It’s a very exciting time for us as we continue to look for accretive strategic acquisitions and keep hiring more talent to keep up with the ever growing demand of NexTech’s product offerings.  We are uniquely diversified and positioned in the fastest growing business segments of the global economy including AR, eCommerce, video conferencing, virtual events, and 3D/AR advertising.”

Recent Company Highlights in 2020:

August 27, 2020: Carnegie Mellon University has chosen NexTech’s InfernoAR platform for a virtual series beginning September 2020.

August 25, 2020 Q2 2020 highlights:

• Revenue grows 290% to $3.5 million
• Gross Profit grows 484% to $2.1 million with a 61% margin
• Working Capital of $5.6 million
• Total Bookings $3.7 million

August 20, 2020 – Company issued 2,035,000 units of the Company at a price of $6.50 per Unit for gross proceeds of $13,227,500. The Offering was led by Mackie Research Capital Corporation as sole agent and sole bookrunner

August 11, 2020: Company announced that it has begun a major expansion of its AR eCommerce business. In the past 60 days the company has signed new distributor deals with major brands such as Dyson, Philips Norelco, Mr. Coffee, VitaMix, MetroVac, Breviel, and Cusinart. These new distribution deals position the company to take full advantage of the new SFH (shop from home) paradigm shift in eCommerce as well as leverage its full augmented reality technology stack into these brands, which includes its WebAR, ARitize360 app and its 3D/AR advertising network. The company expects these new products to have a significant impact on future revenues.

July 30, 2020: Ryerson University, a globally recognized leader in higher education with over 46,000 students, has partnered to launch RALE, the Ryerson Augmented Learning Experience platform, based on NexTech’s InfernoAR. The technology license agreement has an initial value of $250,000 with the potential for more revenue tied to additional AR services.

July 17, 2020: The company launched a new immersive video conferencing software called ScreenAR.

July 13, 2020: The company is launching a new video conferencing software into its InfernoAR platform (September 2020). The new video conferencing features will integrate collaborative classroom learning, one-to-one networking and traditional video conferencing directly into the platform letting users seamlessly launch and manage both collaborative experiences and large audience events directly from InfernoAR.