Mr. Evan Gappelberg reports

NEXTECH3D.AI ANNOUNCES $2.2MILLION EXPANSION CONTRACT FROM ITS LARGEST ENTERPRISE CUSTOMER DRIVING A SURGE IN 3D-MODELING DEMAND IN Q3

Nextech AR Solutions Corp. has seen a significant increase in demand from its largest customer -- Amazon. These new 3-D model orders amount to $2.2-million in additional revenue. Moreover, the company's profit margins are expanding significantly, primarily attributed to its groundbreaking generative artificial intelligence technology-driven productivity enhancements. As a result, the company is now rapidly progressing toward achieving positive cash flow.

This new expansion contract from Amazon highlights Nextech's breakthrough generative AI technology, which positions Nextech as the globally dominant AI solution for scaling the production of 3-D models in the booming e-commerce industry, gaming and manufacturing.

Evan Gappelberg, chief executive officer of Nextech, commented, "Due to our experienced team and our AI's ability to scale to meet and even exceed the very strict 3-D model requirements of Amazon, they have expanded and dramatically increased volumes resulting in a significant surge in 3-D model demand from Amazon starting in Q3 2023."

He continued: "As we move into the second half of 2023 and beyond, the shift from 2-D photos to 3-D models in e-commerce and various industries is rapidly gaining momentum and becoming the standard for commerce. This kind of transformation has occurred throughout history, with some companies reaping significant rewards while others face challenges. Just as digital pictures replaced Kodak film in the 1990s, today, in the 2020s, 3-D models are replacing digital pictures in commerce. Today about 12 trillion digital pictures exist globally. Our latest news is welcome for our shareholders, as we are positioning ourselves with this latest $2.5-million capital raise in anticipation of exponential growth in demand and revenue from the millions of Amazon merchants that have yet to purchase 3-D models from Nextech. Having been a supplier for the past 12 months and delivering over 25,000 3-D models to Amazon, the largest e-commerce site, positions us at the forefront of this cutting-edge technological revolution, we are focused on profitability and enthusiastic about driving innovation in the 3-D modelling industry."

With expansion beyond e-commerce into gaming and manufacturing, Nextech offers investors a unique opportunity to be part of a company driving AI-powered innovation in the lucrative 3-D modelling sector.

Furthermore, Nextech's generative AI technology has led to significant profit margin expansion, contributing to the company's progress toward achieving positive cash flow. The company recently filed a provisional patent titled "Generative AI for 3D Model Creation from 2D Photos using Stable Diffusion with Deformable Template Conditioning," which builds on a previous patent filed in November, 2022. This groundbreaking AI technology sets Nextech apart as a leader in the 3-D modelling for e-commerce industry.

Nextech has been amassing a vast library of 3-D models, composed of individual parts, and is expanding this library to eventually hold millions of unique parts. This expansive parts library enables rapid 3-D model creation by searching, assembling and utilizing the existing parts, significantly reducing creation time and fuelling further innovation in the industry.

Investor live stream

Join Nextech: Tuesday, Aug. 1, 2023

Topic: Amazon partnership part II

Time: 12 p.m. ET/9 a.m. PT

Presenters: Mr. Gappelberg (founder and CEO) and Reza Davariar (chief operating officer)

About Nextech AR Solutions Corp.

Nextech AR Solutions is a diversified augmented reality, AI technology company that leverages proprietary artificial intelligence (AI) to create 3-D experiences for the metaverse. Its main businesses are creating 3-D WebAR photorealistic models for the prime e-commerce marketplace as well as many other on-line 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 spinout.

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