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TICKERS: NTAR; NEXCF

Increase in Home Shoppers, Workers Benefits E-Commerce Tech Firm
News Update

Source:

The coronavirus-caused shift is boosting demand for NexTech AR Solutions' products.

NexTech AR Solutions Corp. (NTAR:CSE; NEXCF:OTCQB) announced in a news release that some of its business segments are benefiting from the greater number of people who are now working and shopping from home due to COVID-19.

For one, the tech company's two e-commerce businesses, Vacuum Cleaner Market and Infinite Pet, are cash flow positive and growing. "As consumers shop from home and stock up on food and household items to cope with the coronavirus outbreak, demand for supplies including HEPA vacuum cleaning bags and pet supplements is rapidly increasing, setting us up for a record breaking month in sales for March," CEO Evan Gappelberg said. "We are expecting continued long term growth of these businesses as hygiene and home shopping continue to be front and center in society."NexTech acquired these e-tailers in 2019 as subjects on which to test its augmented reality (AR) technology.

Also, the firm recently signed a letter of intent to acquire Jolokia, a remote video training, live streaming software company.

"With both our AR e-commerce businesses and this acquisition, NexTech has positioned itself at the right place at the right time to participate in the stay at home, work from home, new paradigm," Gappelberg added.

Disclosure:
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.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: NexTech AR Solutions. Click here for important disclosures about sponsor fees.
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5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of NexTech AR Solutions, a company mentioned in this article.




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