Nextech3D.ai Name Change Now Official as Company Enters the Age of AI
Martech Outlook | Thursday, September 28, 2023
The Company is Moving to High Scale Production of 3D Models In India & with AI
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TORONTO, O.N, Canada – Nextech3D.AI (formally “Nextech AR Solutions Corp'' 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 that it has changed its legal name from "Nextech AR Solutions Corp” to "Nextech3D.AI Corporation'' effective as of the date hereof (the "Name Change"). The common shares of the Company giving effect to the Name Change are expected to commence trading on the Canadian Securities Exchange and the OTCQX at the open on Wednesday, October 4, 2023, under the existing stock symbols of NTAR (CSE) and NEXCF (OTCQX).
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The Company believes this name change better reflects its current technology and business direction. Nextech3D.ai's generative AI technology is considered a key competitive advantage, playing a vital role in propelling the Company toward achieving positive cash flow. This official name change marks a significant milestone in the history of Nextech3D.ai and its portfolio of affiliated companies, including ARway.ai and Toggle3D.ai, which are well-positioned to capitalize on the burgeoning emerging market, striving for profitability in this new era of artificial intelligence.
As recently announced, the Company is moving to high scale production. In preparation, it has established Nextech3D Solutions India Private Limited, which in addition to the AI is anticipated to increase profitability and reduce labor costs starting in Q4, 2023. This strategic transition is anticipated to reduce expenses and significantly enhance the Company's profitability and performance as it rolls out its AI solution. The Company is gearing up for a record Q4 and record 3D model growth in 2024.
The shift to India is anticipated to result in a substantial increase in cash flow for Nextech3D.ai beginning in Q4 2023.. This will be achieved through the streamlining of production processes and leveraging cost-effective resources available in the region. By implementing these strategies and other relevant initiatives, the Company is strategically positioning itself for improved profitability in a continuously evolving market landscape. This strategic pivot aligns seamlessly with Nextech3D.ai's dedication to providing top-notch 3D modeling and augmented reality solutions, all while maintaining a strong focus on profitability and fiscal responsibility for the benefit of its esteemed shareholders.
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