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Discussions with Potential Multi-National Partners for ALLIS™ Commercialization Ongoing
NexOptic Technology Corp. (“NexOptic”or the “Company”) (TSXV:NXO) (OTCQB:NXOPF) (FRANKFURT:E3O1) is pleased to provide the following update regarding DoubleTakeTM, its multi-award winning, reimagined binoculars, as well as NexOptic’s Advanced Low Light Imaging System (“ALLISTM”).
DoubleTake
NexOptic will be premiering fully operational DoubleTake prototypes at the 2020 Consumer Electronics Show (CES) from January 7 to 10 in Las Vegas, with scaled production to begin shortly thereafter. The launch was delayed to accommodate further upgrades to the product. Changes beyond previously announced upgrades include DoubleTake’s primary lens design and the addition of a removable battery.
“You never get a second chance to make a first impression,” said Rich Geruson, NexOptic’s Chairman. “That’s also true when it comes to launching a new product. We made the right decision to take some extra time to fine-tune everything and, with the final major upgrades, I’m confident DoubleTake will impress CES visitors and potential customers.”
DoubleTake’s two image sensors and its Digital Image Processor (“DSP”) have been upgraded to latest-generation offerings from Sony Corp. and Ambarella Inc., enabling more efficient imaging with the added benefit of significantly lower power draws from DoubleTake’s custom battery. The result is a better user experience for photographers and outdoor enthusiasts alike. Production continues on key DoubleTake components in preparation for near term, high-volume assembly. Tooling for DoubleTake’s newly redesigned, patent-pending signature lens, pivotal to the efficiency and uniqueness of the product, is nearing completion.
DoubleTake’s companion app is in its final stages of development. The highly comprehensive app will enhance the user’s experience as well as create unique social integration opportunities for individuals sharing similar interests locally or globally.
Beyond previously released DoubleTake updates, NexOptic has added new features including a manual mode, so experienced users can have complete control of depth of field and other adjustments. An intuitive three-button panel that controls shutter/power, lens switch/mode, and focus +\- replaces the earlier design. Users will have options depending on preference. These features will also be operational from the DoubleTake app.
ALLIS
NexOptic is engaged in ongoing discussions with several large multinational imaging and semiconductor companies interested in pursuing a variety of commercialization and/or collaborative relationships regarding the Company’s Advanced Low Light Imaging System. The Company is encouraged by the interest that ALLIS is receiving and will report to shareholders when any arrangements are formalized.
Milestone testing recently completed by NexOptic’s engineers showed a 430% improvement in success rate when using a leading commercial image classifier. This achievement supports the dramatic impact ALLIS can have on AI systems used ubiquitously in the mobile, security, and automotive industries, especially those specializing in object classification, facial recognition, image segmentation, and other cutting-edge computer vision applications.
With ALLIS, images captured by virtually any image sensor have exceptional reductions in image noise and enhanced overall image quality. The result is measurable improved performance to any imaging system.
ALLIS offers an instant low light solution for mobile and embedded applications; its software suite has been carefully designed for immediate licensing opportunities to OEMs wanting the latest in AI-enabled imaging solutions running on modern semiconductor technologies. ALLIS is patent-pending technology with additional claims being filed as required.
“In these last few weeks, we’ve advanced discussions with several large corporations. We’re now solidifying opportunities for ALLIS’s commercial success,” said Paul McKenzie, CEO of NexOptic.
About NexOptic Technology Corp.
NexOptic is an innovative optical development company, which aims to enhance the way we view the world around us. The Company is preparing to launch DoubleTake, its multi-award winning, reimagined binoculars designed to disrupt the growing outdoor recreation market. DoubleTake utilizes NexOptic’s high magnification lenses for a state-of-the-art digital experience. NexOptic is also working to commercialize its ground-breaking artificial intelligence (“AI”) for imaging as well as exploring opportunities for its innovative mobile lens designs.
Utilizing Blade Optics™, the Company’s developing suite of optical technologies now includes AI, NexOptic can increase aperture sizes within given depth constraints of various imaging applications to improve diffraction-limits and resolution. NexOptic’s AI drastically reduces image noise and motion blur common in poor lighting environments. Besides enhancing image quality, NexOptic’s AI can be used to improve long-range image stabilization and image capture in otherwise difficult lighting conditions.
Blade Optics refers to NexOptic’s lens designs, algorithms, and mechanics, which vary from patented to patent-pending, and includes all the Company’s intellectual property and know-how. More information is available at www.nexoptic.com.
Media and Investor Enquiries
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Email: look@nexoptic.com
Forward-Looking Statements
This press release contains forward-looking information and forward-looking statements within the meaning of applicable securities laws, including, but not limited to, statements with respect to expectations concerning the development of its sports-optic device and technology, and expected results, specifications, capabilities, and applications thereof. The reader is cautioned that forward- looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions, and other factors which are difficult to predict and that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Forward-looking statements are based on the then current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company operates and are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations, including, among others: risks commonly associated with the development of new technologies, including that the Company’s technology, product designs and prototype are at an early stage and additional work will be required to confirm potential applications and feasibility of its technologies or bring product designs to market; the Company may not be able complete product development as currently expected; potential applications of the Company’s technology are based on limited studies and may not be representative of the broader market; the risk that prototypes and designs may not achieve expected results; the Company may not be able to commercialize its technology; the Company may not be able to source components for its products on a cost-effective basis; the Company may not have access to necessary financing on acceptable terms or at all; pending or future patent applications may not be approved as contemplated or at all; and other risks inherent with technology and product development and the business of the Company. Such forward-looking statements should therefore be construed considering such factors. Other than in accordance with its legal or regulatory obligations, the Company is not under any obligation and it expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether because of new information, future events or otherwise.
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