Nextech3D.ai Announces Multiple New 3D Modeling Deals

Nextech3D.ai ("Nextech3D.ai" or the "Company") (OTCQX:NEXCF)(CSE:NTAR)(FSE:EP2), a Generative AI-Powered 3D model supplier for Amazon, P&G, Kohls and other major e-commerce retailers is pleased to announce a number of exciting new deals and renewals for its 3D modeling business. Thus far, the Company has delivered 60,000+ models to its customers across various industries. The Company expects to see significant growth in 2024 and beyond as Amazon increases its demands

With 3D content, shoppers can virtually try on shoes or eyewear, visualize what an item will look like in their space, or virtually rotate and zoom in on the product from any direction to see features that might be missed through traditional 2D photography.

Amazon Has Measured the Following 3D/AR Model Benefits:

an 8X increase in customers who viewed a product in AR at Amazon, from 2018
2X improvement in purchase conversion observed on average in 2022 when AR Virtual Try-On (shoes and eyewear) or View in 3D is enabled on an Amazon Product Listing
94% of customers surveyed by Amazon said they would use Virtual Try-On again (2022 survey of over 2,000 Amazon customers)
9% improvement in sales observed on average when View in Your Room is enabled on an Amazon product listing

Other Benefits of 3D
3D content that is created can be used beyond the detail page.

Save money on product photography by using 3D assets to render detail page images
Lifestyle images or other brand marketing content can be quickly created without the need for a studio setup
Many 3D content creators can use 3D assets to create animations, videos and interactive or animated infographics. Clients should talk to their content creators to learn more about capabilities

Nextech3D.ai Continues to Sign New and Renewal 3D Modeling Deals

TecTake
TecTake Ltd is a dynamic, international e-commerce company with a wide range of work, home, leisure and garden products.

View Sun Lounger 3D model on Tectake website - click here

View Sun Lounger in Augmented Reality - Scan QR code below using smartphone

Raptor Tactical
Raptor Tactical is a designer and manufacturer of modern tactical equipment for Military, Police and other Law enforcement units.

City Grounds
City Grounds provides fresh and innovative merchandise from around the world for urban cycling needs and more. Beyond bicycles and components, they also carry a variety of functional streetwear and active lifestyle apparel.

View Bicycle 3D model on City Grounds website - click here

View Bicycle in Augmented Reality - Scan QR code below using smartphone

Kromer
Kromer is a company in Germany that provides commercial scissor lifts, column lifts, mobile lifting platforms, equipment and parts for workshops and garages.

William Wood Mirrors
William Wood Mirrors is located in the UK, and has almost four decades of experience in designing and manufacturing mirrors, lighting, and occasional furniture. They stock thousands of exquisitely designed mirrors ready for immediate collection or same-day delivery to their loyal customers across the country. Their work has been featured in taste-making publications like Vogue and GQ, while transforming over 500,000 homes and hotels nationwide.

View Mirror on William Wood Mirrors Website - click here

View Mirror in Augmented Reality - Scan QR code below using smartphone

HAMMER Sport
HAMMER Sport AG, based in Germany has been producing and selling sporting goods for 120 years. HAMMER and FINNLO fitness equipment is based on the development of quality products with innovative, partly patented product specifications - in order to meet the high demands of the global market. They sell endurance equipment, strength and weight lifting equipment and accessories, and boxing equipment and accessories.

Armadillo Tough
Armadillo Tough is an American company that designs, manufactures, and sells their own product lines of garage cabinets, shelving racks, workbenches and accessories for garages and workshops.

View Work Station 3D Model on Armadillo Tough Website - click here

View Work Station in Augmented Reality - Scan QR code below using smartphone

Previously Announced Deals

As recently announced, Nextech3D.ai signed an enterprise 3D modeling contract with Kabbani Funiture, the number one furniture seller and manufacturer in Egypt. Kabbani Furniture's initial purchase order is for 500 3D models, which represents a small fraction of total SKU's. This deal also represents a significant growth opportunity, with the potential to grow with Kabbani's large network of retailers.

The Company also recently signed an expansion 3D modeling contract with Vornado Air LLC to to bring their 3D product models onto the Amazon e-commerce marketplace. Vornado Air LLC is a repeat 3D model customer, who has signed and completed 5 expansion contracts for additional 3D models with the Company. Nextech3D.ai has created over 100 models for Vornado Air thus far, all of which are live on Amazon and on the Vornado website.

Try it yourself - Existing Vornado 3D product Models on Amazon

Open the link, click the 3D product model to spin and rotate. Open on your mobile device to view it in your space with augmented reality.

View Vornado Velocity 1 Personal Space Heater on Amazon Website - click here

View Vornado MVH Vortex Heater on Amazon Website - click here

Recent News

Sign up for Investor News and Info -Click Here

About Nextech3D.ai

Nextech3D.ai or the "Company," (OTCQX:NEXCF)(CSE:NTAR)(FSE:EP2), is a versatile augmented reality and AI technology company that utilizes its proprietary artificial intelligence (AI) to craft immersive 3D experiences at scale for E-COMMERCE. The Company's primary focus lies in creating high-quality 3D WebAR photorealistic models for Amazon and various other online retailers. Nextech3D.ai has adopted a unique approach to creating shareholder value beyond its operating business of creating 3D models.

The Company also develops or acquires disruptive AI-technologies, which are subsequently spun out to shareholders as standalone public companies. This spin-out strategy allows Nextech3D.ai to issue stock dividends to its shareholders while maintaining significant ownership in the public spin-out, without dilution to the parent company Nextech3D.ai.

Notably, Nextech3D.ai successfully spun out "ARway," (OTCQB:ARWYF)(CSE:ARWY)(FSE:E65) its spatial computing platform, as a standalone public company on October 26, 2022. The Company retains a 49% stake with 13 million shares in ARway Corp. while distributing 4 million shares to Nextech shareholders.

Similarly, Nextech3D.ai accomplished its second spin-out launching Toggle3D.ai, (OTCQB:TGGLF)(CSE:TGGL)(FSE:Q0C ) an AI-powered 3D design studio aimed at competing with Adobe. The Company retains a 44% stake with 13 million shares in Toggle3D.ai Corp.

To learn more, please follow us on Twitter, YouTube, Instagram, LinkedIn, and Facebook, or visit our website: https://www.Nextechar.com.

For further information, please contact:

Investor Relations Contact
Julia Viola
investor.relations@nextechar.com

Nextech3D.ai
Evan Gappelberg
CEO and Director
866-ARITIZE (274-8493)

Forward-looking Statements
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, "will be" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements regarding the completion of the transaction are subject to known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove to be accurate, as future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Nextech will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.

SOURCE: Nextech3D.ai

View source version on accesswire.com:
https://www.accesswire.com/801459/nextech3dai-announces-multiple-new-3d-modeling-deals

News Provided by ACCESSWIRE via QuoteMedia

ntar:cnx emerging tech investing nextech3d.ai otcqx:nexcf Emerging Tech Investing

NTAR:CNX

Nextech3D.ai Achieves Milestone with 3D AI Modeling Profit Margins Hitting 80% in Q2 2024 Up From 30% in 2023

Nextech3D.ai (OTCQX:NEXCF)(CSE:NTAR)(FSE:EP2), a patented 2D-3D Generative AI-Powered 3D model supplier for Amazon, Miele, P&G, Kohls, Wesfarmers Group "Bunnings" (Australia's largest listed company) and other major e-commerce retailers is excited to announce a major milestone in its 3D modeling business for ecommerce by hitting 80% gross profit in Q2, 2024 which is up 166% from 30% in 2023. This milestone achievement is only possible through the company's investment in AI and its pivot to Hyderabad India in Q3, 2023

The company believes that it can become profitable in 2024 by scaling revenue with 80% profit margins while operating expenses are going down due to its investment in its patented AI. The strategic shift to Hyderabad India aligns perfectly with Nextech3D.ai's commitment to delivering top-tier 3D modeling and augmented reality solutions while maintaining a keen eye on profitability and fiscal responsibility for its valued shareholders.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less

Nextech3D.ai is Participating In The Supplier Network of GlassDollar, Which Extends Nextech3D.ai Reach to Large Corporations, Such As Siemens, LG, BSH, Infineon

Nextech3D.ai (OTCQX:NEXCF)(CSE:NTAR)(FSE:EP2), a leading provider of patented 2D-3D Generative AI-powered 3D modeling technologies to major e-commerce brands like Amazon, Miele, P&G, Kohls, and Wesfarmers Group's "Bunnings", has announced a collaboration with GlassDollar. This collaboration highlights the demand for Nextech3D.ai's innovative solutions from large corporations-including CAD to 3D texturing, 3D photo rendering, data analytics, generative AI, spatial computing, and 3D cloud hosting. Through this collaboration Nextech3D.ai is participating in the supplier network of GlassDollar, which extends Nextech3D.ai reach to large Corporations, such as Siemens, LG, BSH, Infineon and more

Nextech3D.ai, along with its subsidiaries Toggle3D.ai and ARway.ai, is excited to be invited to bring its advanced technologies to this collaboration. This collaboration serves to both enhance GlassDollars product offerings to meet the specific needs of GlassDollar's clients while establishing potential new relationships and revenue streams for Nextech3D.ai.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less

SEC Reopens Investigation on Neuralink and Musk’s Twitter Deal

The US Securities and Exchange Commission (SEC) has reopened its investigation into Neuralink, Elon Musk’s brain-implant company, alongside a probe into Musk’s acquisition of Twitter, now rebranded as X.

A letter from Musk’s lawyer, Alex Spiro, disclosed the development on Thursday (December 12), raising questions about the ongoing legal disputes between Musk and the SEC, according to a Reuters report.

The letter, addressed to outgoing SEC Chair Gary Gensler, outlines the reopening of the Neuralink investigation and a settlement demand regarding the Twitter takeover, which happened in 2022.

Keep reading...Show less

Spearmint More Than Doubles the Acreage of the George Lake South Antimony Project in New Brunswick, Canada

Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF) (FSE: A2AHL5) (the "Company" or "Spearmint") wishes to announce that it has more than doubled the acreage on the recently acquired George Lake South Antimony Project in New Brunswick, Canada. This project now consists of 4,722 contiguous acres prospective for antimony.

James Nelson, President of Spearmint, stated, "In light of the recent ban of antimony by China to the USA, we made this strategic acquisition increasing the size of the George Lake South Antimony Project. Management feels that antimony will be one of the most sought after resources in 2025 and we plan to pursue this space with vigor and are currently evaluating additional projects. Management is formulating a plan on the George Lake South Antimony Project, and management also intends to update the market on Spearmint's crypto diversification plan in the near future as well. These are truly exciting times for Spearmint and Spearmint shareholders."

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Spearmint Announces Arrangements to Address Mailing Delays Resulting from Canada Post Strike

Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF) (FSE: A2AHL5) (the "Company" or "Spearmint") wishes to provide an update to shareholders on the impact of the strike by the Canadian Union of Postal Workers on the Company's ability to comply with its obligations to deliver to shareholders its financial statements and related disclosure and proxy-related materials in respect of the Company's annual general meeting of shareholders (the "Meeting") scheduled to be held at Cozen O'Connor LLP - 550 Burrard Street, Suite 2501, Vancouver, B.C., on Thursday, Dec. 19, 2024, at 10 a.m. PST.

James Nelson, President of Spearmint stated, "We want all of our shareholders to be aware of the current situation as there are many exciting events occurring for Spearmint in the short and medium term."

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Sona Nanotech's THT Cancer Studies Demonstrates Strong Efficacy in Third Preclinical Study and Plans for First-in-human Early Feasibility Study

Sona Nanotech Inc. (CSE: SONA) (OTCQB: SNANF) (the "Company", "Sona") announces results from its most recent preclinical study of its Targeted Hyperthermia Therapy ("THT") which uses the Company's patented, biocompatible gold nanorods ("GNRs") to treat certain solid cancer tumors, shrinking them and acting as an immune stimulator. Building on its success in melanoma and breast cancer studies, the Company's third preclinical efficacy study was conducted in an immunologically 'cold' colorectal cancer model ("CT26"), a model that represents the majority of human colon cancers, which do not typically respond to current standard of care immunotherapies.

In this preliminary study, whereas no mice that were given standard immunotherapy alone showed any response, 100% of mice in the THT treatment group responded to the same immunotherapy with 50% (4 out of 8) of those tumors eliminated within 12 days of treatment, as shown by the green line in Figure 1, below.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

RETRANSMISSION: Spearmint Comments on China's Ban of Critical Mineral Exports to the USA, including Antimony

Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF) (FSE: A2AHL5) (the "Company" or "Spearmint") wishes to comment on yesterday's announcement of China banning exports of critical minerals including antimony to the United States. As trade tensions escalate between the USA and China, this move clearly emphasizes the urgent need for Western nations to secure reliable long-term sources of these critical minerals which are now at the forefront of the global supply chain crisis.

Antimony is an essential component in semi-conductors, battery storage technology, and has several military applications. Prices of antimony trioxide in Rotterdam had soared by 228% since the beginning of the year to $39,000 a metric ton on Nov. 28, data from information provider Argus showed⁽¹⁾. The move is a considerable escalation of tensions in supply chains where access to raw material units is already tight in the West⁽¹⁾.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Syntheia Announces Establishment of Advisory Board and Appointment of Travel Industry Expert, Mr. John Kirk

Syntheia Corp. ("Syntheia" or the "Company") (Syntheia.ai), CSE SYAI, Syntheia, a Canadian leader in conversational AI SaaS, is pleased to announce the establishment of its new Advisory Board. The Advisory Board will collaborate with management and the board of directors to enhance the Company's strategic direction, provide expert guidance on its commercial initiatives, offer industry insights, and shape and accelerate innovations.

As the inaugural member of the Advisory Board, Syntheia welcomes Mr. John Kirk, a leader in the travel industry. The travel sector represents a potentially significant growth market for the Company's technology.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

	31-Dec-23			31-Dec-22
ASSETS
Current
Cash & cash equivalents		907,847			3,777,117
Receivables		357,398			744,331
Contract asset		51,320			589,015
Finance lease receivable on sublease CP		199,933			-
Prepaid expenses		294,471			310,906
Inventory		-			45,289
Non current assets held for sale		-			501,188
Total current assets		1,810,969			5,967,846

Equipment		325,633			278,463
Deferred consideration		206,850			-
Right of use asset		-			829,278
Finance lease receivable on sublease		642,983			-
Intangible assets		-			3,313,741
Goodwill		-			6,746,378
Total assets		2,986,435			17,135,706

LIABILITIES
Current
Accounts payable and accrued liabilities		3,531,460			2,641,918
Deferred revenue		342,192			437,746
Lease liability		143,722			222,250
Liabilities associated with assets held for sale		-			92,532
Total current liabilities		4,017,374			3,394,446

Lease liability - non current		469,624			582,586
Deferred tax liabilities		-			29,974
Total liabilities		4,486,998			4,007,006

Shareholders' Equity
Share capital		91,909,495			83,271,707
Reserves		14,166,972			12,754,706
Accumulated Other Comprehensive Income		678,143			827,101
Shareholder's equity attributable to Nextech shareholders		(112,211,223	)		(85,898,862	)
Total common shareholders' equity		(5,456,613	)		10,954,652
Non controlling interest		3,956,050			2,174,048
Total equity		(1,500,563	)		13,128,700
Total liabilities and shareholders' equity		2,986,435			17,135,706

	YTD
	31-Dec-23			31-Dec-22
		$			$
Revenue		5,033,202			3,224,791
Cost of sales		(3,586,162	)		(1,593,076	)
Gross profit		1,447,040			1,631,715

Operating expenses:
Sales and marketing		4,546,502			5,013,367
General and administrative		9,362,610			13,377,575
Research and development		3,249,799			3,892,208
Stock based compensation		1,775,695			1,715,690
Amortization		2,105,689			2,655,652
Right of use amortization		55,728			76,905
Depreciation		87,824			122,930
Operating profit (loss)		(19,736,807	)		(25,222,612	)

Other income (expense):
Gain on sublease recognition		120,626			-
Loss on asset disposal		(85,679	)		-
Gain on liability		-			381,019
Impairment of intangible assets and goodwill		(7,575,263	)		(476,113	)
Foreign exchange gain (loss)		(14,393	)		1,345,593
Profit (Loss) before income taxes		(27,291,516	)		(23,972,113	)

Current income tax expense		-			(34,937	)
Deferred income tax recovery		29,974			672,148
Net income (loss) from continuing operations		(27,261,542	)		(23,334,902	)

Income (loss) from discontinued operations		(452,814	)		(4,043,424	)
Net loss		(27,714,356	)		(27,378,326	)

Other comprehensive income (loss)
Exchange differences on translating foreign operations, continuing operations		(148,958	)		(432,845	)
Comprehensive income (loss)		(27,863,314	)		(27,811,171	)

Net loss from C/O attributed to:
Parent		(25,109,547	)		(22,896,701	)
Non controlling interest - PL		(2,151,995	)		(438,201	)

Net loss from D/O attributed to:
Parent		(452,814	)		(4,043,424	)
Non controlling interest - PL		-			-

Comprehensive loss attributed to:
Parent		(25,711,319	)		(27,372,970	)
Non controlling interest		(2,151,995	)		(438,201	)


Loss per share from C/O - basic and diluted		(0.22	)		(0.24	)


Loss per share from D/O - basic and diluted		(0.00	)		(0.04	)

Weighted average number of common shares outstanding
Basic and diluted		114,085,494			100,201,691

	YTD
	31-Dec-23			31-Dec-22
Operating activities:
Net loss		(27,714,356	)		(27,378,326	)
Adjustment for:
Interest income from sublease		(39,903	)		-
Interest expense from lease		30,217			28,668
Stock based compensation		1,775,695			1,715,690
Amortization of intangible assets		2,105,689			2,655,652
Amortization of ROU		55,728			261,101
Depreciation of property and equipment		87,824			143,567
Gain on sublease recognition		(120,626	)		-
Loss on asset disposal		85,679			-
Gain on short-term investment		-			(381,019	)
Impairment of intangible assets & goodwill		7,759,360			3,178,426
Expenses paid by shares		648,891			1,917,837
Loss on PET disposal		173,534			-
Income tax expense (recovery)		-			-
Changes in non-cash working capital balances
Receivables		386,933			269,873
Contract asset		537,695			(202,813	)
Prepaid expenses		16,435			408,743
Inventory		45,289			2,954,342
Accounts payable and accrued liabilities		917,814			(24,574	)
Deferred revenue		(95,554	)		(171,255	)
Deferred tax liability		-			(673,290	)
Total operating cash flow		(13,343,656	)		(15,297,378	)

Cashflows from investing activities
Purchase of equipment		(227,250	)		(101,784	)
Payments received from sublease		66,554			-
Net cash provided by (used in) investing activities, continuing operations		(160,696	)		(101,784	)

Cashflows from financing activities
NTAR - Net proceeds from private placements		5,726,654			8,890,349
NTAR - Proceeds from Employee Pay Program		2,269,704			2,496,628
Proceeds from securities issuances to NCI		2,813,107			1,657,354
Repayment of loan		-			(90,896	)
Payments of lease liability		(203,762	)		(388,804	)
Net cash provided by (used in) financing activities, continuing operations		10,605,703			12,564,631

Effects of foreign exchange on cash		29,379			(616,272	)
Change in cash during the period		(2,898,649	)		(2,834,531	)
Cash, beginning of period		3,777,117			7,237,296
Cash, end of period, continuing operations		907,847			3,786,493

Cash, end of period, continuing operations		907,847			3,777,117
Cash, end of period, discontinuing operations		-			9,376

Taxes paid		-			27,005
Interest paid		30,217			30,910
Cash interest received		121,122			108,390

Nextech3D.ai Announces Multiple New 3D Modeling Deals

Musk's contentious history with the SEC

Deepening relationship between Musk and Trump

Latest News

Latest Press Releases

Related News

TOP STOCKS