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.
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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.
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