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    NXO   CA65341P1053

NEXOPTIC TECHNOLOGY CORP.

(NXO)
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SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

NexOptic Joins Qualcomm's Exclusive Membership Group

06/29/2020 | 09:01am EDT

VANCOUVER, British Columbia, June 29, 2020 (GLOBE NEWSWIRE) -- NexOptic Technology Corp. (“NexOptic” or the “Company”) (TSX VENTURE: NXO) (OTCQB: NXOPF) (FSE: E3O1), an optics and Artificial Intelligence (AI) innovator, announced that it has been admitted by Qualcomm Technologies, Inc., to its Qualcomm Advantage Network, making NexOptic one of a very limited number of Platform Solutions Ecosystem members.

Qualcomm Advantage Network provides a nexus of value to its exclusive membership including facilitating global marketing initiatives and business development opportunities within Qualcomm’s customer network, in addition to fostering connection and collaboration between group members.

“We're grateful to Qualcomm for allowing us entry into such an esteemed group,” said Paul McKenzie, CEO of NexOptic. “The levels of expertise and exposure offered through this program will give our breakout technologies recognition exactly where it matters most.”

Membership is limited to companies leveraging Qualcomm’s transformative technologies at the bleeding edge of innovation. The marketing and business development opportunities that arise from being a member could significantly increase the rate of adoption of NexOptic’s AI into third party global enterprises. 

About Qualcomm

Qualcomm Technologies, Inc. is the world’s leading wireless technology innovator and a driving force behind the development, launch, and expansion of 5G.

Joint Qualcomm/NexOptic initiatives are optimizing ALIIS for select Qualcomm® Snapdragon™ mobile platforms. 

Learn more about Qualcomm Advantage Network, Snapdragon™, and Snapdragon™ Enabled Smartphones

About ALIIS

NexOptic’s artificial intelligence, ALIIS™ (All Light Intelligent Imaging Solutions) delivers superior all-light performance by optimally enhancing images and video in a fraction of a second using edge processing. The result is superior resolution and sharpness, dramatic reductions to image noise and motion-blur, noticeable enhancements to long-range image stabilization by enabling faster shutter speeds, and significantly reduced file and bandwidth requirements for storage or streaming applications. 

Critically, ALIIS also improves downstream applications such as computational imaging, facial recognition, and object detection, and as a result has broad market applicability for Smart Security, autonomous vehicles, and other AI applications. NexOptic will continue to grow and develop ALIIS’s offerings, bringing modern in-demand features to key markets.
Learn more at https://nexoptic.com/artificialintelligence/

About NexOptic Technology

NexOptic is an innovative imaging company based in Vancouver, Canada. Its All Light Intelligent Imaging Solutions (“ALIIS™”), is being optimized into the Qualcomm® Platform Solutions Ecosystem for select Qualcomm® Snapdragon™ mobile platforms. NexOptic is also engaged in the development of its revolutionary sports-optic device DoubleTake as well as mobile lens solutions. For more information, please visit www.nexoptic.com.

Media and Investor Enquiries

Tel: +1 (604) 669-7330 x 202 
Email: look@nexoptic.com

Forward-Looking Statements

This press release contains forward-looking information and forward-looking statements within the meaning of applicable securities laws, including, but not limited to, statements with respect to expectations concerning the development of its sports-optic device or artificial intelligence technologies, and expected results, specifications, capabilities, and applications thereof. The reader is cautioned that forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions, and other factors which are difficult to predict and that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Forward-looking statements are based on the then current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company operates and are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations, including, among others: risks commonly associated with the development of new technologies, including that the Company’s technology, product designs and prototype are at an early stage and additional work will be required to confirm potential applications and feasibility of its technologies or bring product or software designs to market; the Company may not be able complete development as currently expected; potential applications of the Company’s technology are based on limited studies and may not be representative of the broader market; the risk that designs may not achieve expected results; the Company may not be able to commercialize its technology; the Company may not be able to source components for its products on a cost-effective basis; the Company may not have access to necessary financing on acceptable terms or at all; pending or future patent applications may not be approved as contemplated or at all; and other risks inherent with technology and product development and the business of the Company. Such forward-looking statements should therefore be construed considering such factors. Other than in accordance with its legal or regulatory obligations, the Company is not under any obligation and it expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether because of new information, future events, or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

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ę GlobeNewswire 2020
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Financials
Sales 2020 - - -
Net income 2020 -5,81 M -4,59 M -4,59 M
Net cash 2020 2,29 M 1,81 M 1,81 M
P/E ratio 2020 -11,2x
Yield 2020 -
Capitalization 115 M 90,7 M 90,7 M
EV / Sales 2019 -
EV / Sales 2020 -
Nbr of Employees -
Free-Float 89,4%
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Managers and Directors
Paul Tavis McKenzie President, Chief Executive Officer & Director
Samantha Shorter Chief Financial Officer
Richard J. Geruson Chairman
Kevin Gordon Vice President-Technologies
Juliette Vanderhorst Head-Administration
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