Nextech3D.ai Announces The Closing of Map Dynamics Sale to ARway.ai To Focus on Patented High-Margin Generative AI-powered 3D Modeling Technology
TORONTO, O.N., Canada – May 28, 2024 - Nextech3D.ai (OTCQX: NEXCF) (CSE: NTAR) (FSE: EP2), a frontrunner in generative AI-powered 3D modeling technology for major e-commerce entities such as Amazon, Miele, P&G, Kohls, and Wesfarmers Group's "Bunnings," today announces its has closed its previously announced sale of Map Dynamics to ARway.ai as a strategic pivot towards becoming a specialized AI 3D firm. The company has divested its Map Dynamics business, a non-core floor plan mapping software unit, to ARway (OTCQB: ARWYF / CSE:ARWY), in exchange for $1.2 million or 4 million shares in ARway, entirely in stock. This move streamlines Nextech3D.ai's operations, focusing exclusively on its profitable AI-driven 3D modeling patented technology.
The divestiture not only advances Nextech3D.ai's position in 3D modeling and AI technology but also enhances ARway's financial standing, contributing approximately $1.2 million in revenue and $500,000 in free cash flow, bolstering its growing spatial mapping operations.
This strategic reorganization and focus on core competencies underline Nextech3D.ai's commitment to leading the evolution of digital commerce through advanced 3D modeling technologies.
Nextech3D.ai: Leading the Future of e-Commerce
As online shopping continues to grow, the demand for immersive and interactive experiences is increasing. Nextech3D.ai is at the forefront of this mega-trend, transforming online shopping into an interactive adventure with its patented AI-powered 3D modeling technology, catering to major e-commerce platforms like Amazon.
Brands are invited to Contact Us to let our team help you start selling using 3D models for your online store today.
Recent News
- Nextech3D.ai Reports Q1 2024 Revenue of $1,024,000 & 51% Profit Margin
- Nextech3D.ai Sells Map Dynamics to Focus on Patented High-Margin Generative AI-powered 3D Modeling Technology
- Nextech3D.ai Announces New Deals and Renewals in 3D Modeling Business
- New AI-Powered 3D Model Marketplace by Nextech3D.ai and Toggle3D.ai
- Nextech3D.ai's AI Search Engine Powered by Nvidia GPUs Accelerating It's Production of 3D Models
- Nextech3D.ai Receives Large 3D AI Purchase Order From Blue Chip Enterprise Customer
- Nextech3D.ai Achieves Milestone with 3D AI Modeling Profit Margins Hitting 80% in Q2 2024 Up From 30% in 2023
- Nextech3D.ai Reports Fiscal Year 2023 and Fourth Quarter 2023 Audited Financial Results
- Nextech3D.ai Joins GlassDollar Network, Expanding Corporate Reach
- Nextech3D.ai Reports 2023 Earnings Growth & Q4 Insights
- Nextech3D.ai Selects AWS as its Primary Cloud Provider to Drive Innovation in the 3D Modeling For Ecommerce Industry With Cutting Edge AI
- Nextech3D.ai Receives Notice From USPTO To Be Granted Patent for CAD 3D Model Part Assembly & Segmentation
Sign up for Investor News and Info - Click Here
About Nextech3D.ai
Nextech3D.ai or the "Company," (OTCQX: NEXCF) (CSE: NTAR) (FSE: EP2), is a versatile augmented reality and AI technology company that utilizes its proprietary artificial intelligence (AI) to craft immersive 3D experiences at scale for E-COMMERCE. The Company's primary focus lies in creating high-quality 3D WebAR photorealistic models for Amazon and various other online retailers. Nextech3D.ai has adopted a unique approach to creating shareholder value beyond its operating business of creating 3D models.
The Company also develops or acquires disruptive AI technologies, which are subsequently spun out to shareholders as standalone public companies. This spin-out strategy allows Nextech3D.ai to issue stock dividends to its shareholders while maintaining significant ownership in the public spin-out, without dilution to the parent company Nextech3D.ai.
Notably, Nextech3D.ai successfully spun out "ARway," (OTCQB: ARWYF | CSE: ARWY | FSE:E65 ) its spatial computing platform, as a standalone public company on October 26, 2022. The Company retains a 49% stake with 13 million shares in ARway Corp. while distributing 4 million shares to Nextech shareholders.
Similarly, Nextech3D.ai accomplished its second spin-out launching Toggle3D.ai, (OTCQB: TGGLF | CSE: TGGL | FSE: Q0C ) an AI-powered 3D design studio aimed at competing with Adobe. The Company retains a 44% stake with 13 million shares in Toggle3D.ai Corp.
To learn more, please follow us on Twitter, YouTube, Instagram, LinkedIn, and Facebook, or visit our website: https://www.Nextechar.com.
For further information, please contact:
Investor Relations Contact
investor.relations@nextechar.com
Nextech3D.ai
Evan Gappelberg
CEO and Director
866-ARITIZE (274-8493)
Forward-looking Statements
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Certain information contained herein may constitute “forward-looking information” under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, “will be” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements regarding the completion of the transaction are subject to known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove to be accurate, as future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Nextech will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
