Mr. Evan Gappelberg reports

ARWAY CORP. THE SPATIAL COMPUTER PLATFORM FOR THE METAVERSE ANNOUNCES Q1 FINANCIALS

ARway Corp. has released its financial results for the first quarter ended Nov. 30, 2022. The company finished the quarter with an ending Q1 cash balance of $1.5-million.

ARway's first postspinout quarter went in accordance with the company's plan as set out in the spinout information circular. For more details on these results, please visit ARway's investor page or visit SEDAR.

Chief executive officer Evan Gappelberg commented: "As our first quarter as a public company is now behind us, we are looking forward to an exciting and dynamic 2023 with big-name contracts announcements. In the first quarter, we achieved a tremendous amount of technical milestones, with the highlight being able to map a 400,000-square-foot mall and the recent release of our V2.0 SDK [software development kit] SaaS [software as a service] solution. He continued, "We are seeing a tremendous amount of organic demand for our disruptive indoor wayfinding solution with a no-capex, no-opex and no-BLE-beacon [Bluetooth low energy] AI-powered [artificial intelligence] platform we believe we have disrupted the $40-billion indoor wayfinding market."

Company highlights

ARway recently announced a significant upgrade to its spatial computing software developer kit (SDK) with the release of version 2.0. Launching the SDK and its latest updates contributes to the expansion of ARway as a major player in the spatial computing and wayfinding market.

The launch of the version 2.0 SDK marks the completion of the last major component of the AR wayfinding and spatial computing platform. The full ARway platform offering consists of the ARway app for spatial mapping, the Creator Portal for content management and analytics, and the ARwayKit SDK for custom apps and integrations. The ARway SDK is being offered as a software-as-a-service platform or can be used in limited ways free of charge with the ARway watermark.

About ARway Corp.

ARway is a no-code spatial computing platform for the real-world metaverse. It enables augmented-reality-enhanced indoor navigation and wayfinding solutions for large, multipurpose venues enabled by marker-based tracking using QR (quick response) codes. Visitors can access a venue map by scanning a QR code with their smart phones upon entering the venue to navigate to any point of interest (POI) with step-by-step directions, learn information about those POIs, and interact with rich AR content and experiences along the way.

The ARway offering has an unlimited number of use cases for augmenting physical spaces in the metaverse, consisting of indoor navigation with AR activations to improve the visitor experience in large and complex spaces. With value propositions spanning multiple industries and use cases, ARway leverages Nextech's 3-D/AR technology solutions to new substantial markets, for use by creators, brands and companies.

The ARway platform includes the following.

Web creator platform

The Web-based creator platform provides advanced writing capabilities compared with the mobile app, including the ability for creators to upload their own OBJ/GLB files and create their own 3-D objects. Placing content in a large area using only the mobile app required the user to physically be in the specific location, which was unscalable. The Web studio allows the user to place and write content remotely and at scale.

Mobile app

With the ARway mobile app, anyone can spatially map his or her location within minutes using his or her smart phone and populate it with interactive 3-D content, augmented reality wayfinding, audio, text, images and more. Nextech AR provides several preloaded 3-D objects, which creators can leverage to populate their metaverses.

ARwayKit SDK

The software development kit contains code libraries and API (application programming interface) information that allows developers to build their own white label and private label mobile apps on both iOs and Android, leveraging ARway's technology and creator tools to build AR wayfinding and spatial experiences. Creators will be able to develop white label and private label apps and access ARway APIs to write maps using the Web creator portal. The SDK features the latest and greatest of the ARway mobile app.

Nextech AR Solutions

On Oct. 26, 2022, ARway was spun out from its parent company, Nextech AR Solutions. Nextech AR retained a control ownership in ARway with 13 million shares, or a 50-per-cent stake. Nextech AR Solutions is a metaverse company and leading provider of augmented reality experience technologies and 3-D model services. Nextech's AI-powered 3-D modelling platform, ARItize3D, has contracts with AMZN, KSS, CB2, Genuine Parts and many others.

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