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    NXO   CA65341P1053

NEXOPTIC TECHNOLOGY CORP.

(NXO)
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NexOptic Technology Introduces Real Time Anti-Glare Enhancement Software Powered by Artificial Intelligence

06/23/2020 | 07:31am EDT
  • Transforms images and videos in real time
  • Scope of applications includes smartphones, DSLR’s, Smart Security, object detection, automated manufacturing, and autonomous vehicles

  • Integration of ALIIS into select Qualcomm® Snapdragon™ mobile platforms expected to be finished within weeks

VANCOUVER, British Columbia, June 23, 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 introduced an adjustable turbo-speed anti-glare offering for its All Light Intelligent Imaging Solutions (“ALIIS™”) program.

Processed on-device in real-time, this advanced anti-glare solution is built just for ALIIS and works on images and video. It works pixel-by-pixel whereby every single part of the image comes out of the neural network independently and is uniquely perfected. It is easily tuned, for creating more artistic videos and photographs, or when precision medical images are required.  

Immediate applications include smartphones, DSLR’s, Smart Security, medical, and object detection in automated manufacturing, autonomous vehicles, and autonomous machines.  Automobiles could see immediate benefit when adapting to harsh lighting environments that blind typical camera systems.

NexOptic is a Qualcomm Platform Solution Ecosystem partner and is proud to be working with the world’s leading wireless technology innovator and a driving force behind the development, launch and expansion of 5G. Continued support from Qualcomm Technologies’ AI experts has helped expedite the integration of ALIIS into select Qualcomm® Snapdragon™ mobile platforms which is expected to be finished within a few weeks.

“The closer we get to completing the integration of ALIIS into Snapdragon, the stronger the global interest in our AI becomes,” said Paul McKenzie, CEO of NexOptic Technology Corp. “Our discussions with global OEM’s and other leading semiconductor companies are intensifying.”

While NexOptic and each original equipment manufacturer (OEM) retain control over the choice to license this technology, the optimized version of ALIIS will significantly reduce the integration cost to device makers making it easier and faster to implement NexOptic’s state-of-the-art solutions on Snapdragon-based commercial devices. In the future, global OEMs requiring premium imaging enhancement will have direct access to NexOptic’s industry-leading machine learning imaging solutions optimized for use on select Snapdragon mobile platforms.

ALIIS improves image quality for a superior all-light performance solution. By learning a camera profile and optimally enhancing for improvement, images and video are corrected 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. Downstream applications include computational imaging, facial recognition, and object detection, giving it even broader market applicability.

“We’re continuously raising the bar with ALIIS,” said Kevin Gordon, NexOptic’s VP of AI Technologies, “By providing sight for machines, we’re at the forefront of a very exciting future for imaging and artificial intelligence. The impact on cameras, media applications, and streaming will be game-changing.”

NexOptic has filed a patent application on its anti-glare offering and is also patent pending on other unique novel, game changing features found in ALIIS.

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 and technology, 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 designs to market; the Company may not be able complete product 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 prototypes and 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 -4,58 M -4,58 M
Net cash 2020 2,29 M 1,81 M 1,81 M
P/E ratio 2020 -11,2x
Yield 2020 -
Capitalization 119 M 94,0 M 94,2 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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