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viewNextech AR Solutions Corp.

NexTech AR Solutions CEO Evan Gappelberg acquires 250,000 NexTech shares

Gappelberg purchased $1,258,421 of company stock during the past 12 months, including an open-market buy at C$5.08 per share

Nextech AR Solutions Corp. -
Nextech AR Solutions CEO says he strongly feels his company's stock is undervalued compared to the huge multi-billion-dollar market opportunity

NexTech AR Solutions Corp (OTCQB:NEXCF) (NEO:NTAR) (FRA:N29) reported that its CEO Evan Gappelberg recently purchased a total of 250,000 company shares, which included open market purchases and the exercising of warrants. 

NexTech noted that Gappelberg’s purchases comprised of $157,000 following the exercise of warrants, as well as $125,000 worth of company stock purchased in the open market at C$5.08 per share, bringing his 12-month total cash investment in the company to $1,258,421. 

“When I look at our diversified business, I see a huge opportunity in the multiple markets that we operate in. The TAM or total available market just for the virtual events industry is $90 billion on its way to $400 billion, according to Grandview. We are just scratching the surface of this industry leaving many years of forward growth still on the table,” NexTech CEO Evan Gappelberg said in a statement.

READ: NexTech AR inks six-figure deal to deliver augmented reality video conferencing to National Association of Medicaid Directors

He added: “When I think of our AR business, eCommerce business or our 3D ad network, I again see many years of forward growth ahead of us which is why I am investing so heavily in NEXCF.”  

“I strongly feel that we are undervalued compared to the huge multi-billion-dollar market opportunity and compared to other technology companies which is why I will continue to buy shares in my company.”

NexTech AR also outlined some of its recent key highlights, including:

  • On January 26, 2021, the company announced a six-figure annual contract to supply its InfernoAR video conferencing and virtual events platform to NAMD, in partnership with ARB Meetings and Events; 
  • On January 25, 2021, the company announced that Strategic Site Selection (SSS), a 15-year-old site selection leader in the meeting and events industry, has selected NexTech AR as a preferred channel partner, making NexTech’s industry-leading virtual experience platform and services available to SSS clients;
  • On January 20, 2021, the company announced that Microsoft’s Azure Cloud Services platform will be a standard offering across its virtual experience platforms and consumer apps enabling hyper-scalable, secure, and immersive events and applications for users;
  • On January 15, 2021, NexTech said it has signed a renewal agreement with Poly with an initial value of $470,000 for a six-month term and the potential for additional revenue after the six months;
  • Record 4Q 2020 total bookings of $7.3 million, more than 275% growth over the same period last year;
  • Announced the launch of its “Genie in a Bottle” human hologram AR marketing platform and new eCommerce store for its TruLyfe brand of human supplements;
  • Announced that it is expanding its services into the Asia-Pacific market after establishing a presence in Singapore; and
  • Achieved a record-breaking 315% increase in Black Friday sales year-over-year across its AR eCommerce platform.

NexTech AR Solutions has been successfully rolling out virtual and augmented reality solutions for e-commerce, education, conferences and events.

Contact Sean at sean@proactiveinvestors.com

Quick facts: Nextech AR Solutions Corp.

Price: 5 CAD

CSE:NTAR
Market: CSE
Market Cap: $371.57 m
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