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TICKERS: NTAR; NEXCF

Augmented Reality Tech Firm Increases Revenue, Gross Profit 6,000% YOY
News Update

Source:

Growth has been rapid in all of its sales verticals.

NexTech AR Solutions Corp. (NTAR:CSE; NEXCF:OTCQB) reported in a news release that it set revenue and gross profit records in Q1 FY20 related to dramatic year-over-year increases.

For the quarter ending Aug. 31, 2019, revenue was $1,513,000, a 6,611% increase over that during the same period last year, which was $22,544.

Gross profit for Q1 FY20 was $694,858, up 6,986% from Q1 FY20, when it was $9,806.

"During our first quarter, we saw an acceleration in sales growth across all business segments, especially our augmented reality e-commerce division, which is now starting to scale," CEO Evan Gappelberg said in the release.

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1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
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