Nextech3D.AI (CSE:NTAR, OTCQX:NEXCF), formally Nextech AR Solutions Corp, has said it intends to uplist its common shares to the NASDAQ Capital Market.
The company, which has also filed to change its formal name to Nextech3D.ai to better reflect its ongoing AI-powered business, said it recently confidentially submitted a draft registration statement to the Securities and Exchange Commission (SEC) for purposes of a potential future offering of its securities in the US.
The company plans to keep its Canadian CSE listing and be dual-listed in the USA and Canada as well as in Frankfurt.
Nextech also announced that a large enterprise customer that is part of Wesfarmers, one of Australia's largest listed companies which owns businesses including Bunnings, Kmart Group, Officeworks and others, has renewed and expanded its contract for over 1,000-plus 3D models.
This follows the renewal and expansion contract with a major eCommerce brand for 3,000 3D models, as well as the enterprise renewal contract with an S&P 400 company for over 5,000 3D models.
The company said it believes that these enterprise renewal contracts, in addition to its multi-year supply agreement with Amazon, strengthens Nextech’s position in the 3D models for the eCommerce industry.
Nextech is a diversified augmented reality, AI technology company that leverages proprietary artificial intelligence (AI) to create 3D experiences for the metaverse. Its main businesses are creating 3D WebAR photorealistic models for the Prime eCommerce Marketplace as well as many other online retailers.
The company develops or acquires what it believes are disruptive technologies and once commercialized, spins them out as stand-alone public companies issuing a stock dividend to shareholders while retaining a significant ownership stake in the public spin-out.
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