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    NXO   CA65341P1053

NEXOPTIC TECHNOLOGY CORP.

(NXO)
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Richard Geruson, NexOptic Chairman Reports: ALIIS™ Shows Superior Performance in Vehicle Recognition Tests

09/22/2021 | 01:50pm EDT

VANCOUVER, British Columbia, Sept. 22, 2021 (GLOBE NEWSWIRE) -- NexOptic Technology Corp. (“NexOptic” or the “Company”) (TSX VENTURE: NXO) (OTCQB: NXOPF) (FSE: E3O1), an innovator in cutting-edge patented and patent pending Artificial Intelligence (AI) announced today that its ALIIS™ technology significantly improved downstream AI performance during an extensive benchmarking process that utilized a leading vehicle recognition API.

The number of camera systems leveraging the power of AI to provide video intelligence is growing at an exponential rate, enabling them to perform tasks such as object detection, localization, classification, and recognition. These systems search and scan video with exceptional speed and accuracy, providing valuable information to businesses and others including public security systems; however, in the presence of frequent challenges like severely degraded video quality, these systems often fail to perform at their optimal level, causing mistakes that lead to false positives and missed opportunities. This is where Aliis can be the game changer.

NexOptic’s Aliis image enhancement and transformation suite of AI solutions dramatically alleviates such problems, broadly extending the operating envelope of these systems and boosting their performance by providing a foundational “adapter” between the camera and downstream AI systems. During the benchmarking, Aliis increased the number of plates detected in low light more than tenfold and increased the number of correctly recognized license plate numbers by a factor of 100. The benefits to end customers are obvious: Video Analytics work better with Aliis inside, explains Chairman Rich Geruson.

“Thanks to best-in-class platforms available to us through our esteemed partnerships, like the NVIDIA Jetson Partner Ecosystem, we’re able to fully participate in the rapidly evolving intelligent video analytics sector and bring Aliis to the mainstream,” said Paul McKenzie, Co-Founder and CEO of NexOptic. “Aliis enables our clients to significantly maximize the results of complex video intelligence solutions.”

The benchmark is the second such test that confirms Aliis’ “AI for AI” benefits. Similarly, in previous testing Aliis boosted the performance of a leading commercial object classifier by over 400%.

ALIIS™ in a Nutshell

ALIIS™ (All Light Intelligent Imaging Solutions) is a machine-learning AI suite providing instant enhancement to images and videos in the areas of edge processing, shutter speed, resolution and sharpness, image-noise and motion-blur, and image colour and detail. These patented and patent pending solutions can be integrated with imaging devices such as smartphones, smart security cameras, Internet of Things (IoT) devices, automotive platforms, medical imaging technologies, DSLR cameras and more. Additionally, Aliis does all of this while compressing data and reducing media file size, making it ideal for the storage and transmission of image data.

Qualcomm featured Aliis in its 5G Summit 2021 press kit announcing the new 700-series chipset for mobile devices: the Snapdragon 778G, and a recent webinar hosted by ARM and their Senior AI Ecosystem Manager set a live global audience attendance record. Ongoing marketing support from our partners is anticipated. For more information, visit www.nexoptic.com/aliis.

What You Need to Know About NexOptic

NexOptic is an innovative imaging AI company headquartered in Vancouver, Canada with operations in Seoul, South Korea, offering world-leading patented and patent pending AI solutions for imaging known as ALIIS™ (All Light Intelligent Imaging Solutions). NexOptic simultaneously influences the imaging and AI industries and is a Preferred Partner in the NVIDIA Partner Network, a member of the Arm® AI Partner Program, and a member of the Qualcomm® Platform Solutions Ecosystem. For more information, 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 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 the Company’s AI technologies, sport optics product designs and additional work may be required to confirm potential applications and feasibility of such technologies or for the successful commercialization of its offerings; the Company may not be able to 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 all designs may not achieve expected results; the Company may not be able to reach commercial success; the Company may not be able to source components for some of 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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Source: NexOptic Technology Corp

2021 GlobeNewswire, Inc., source Press Releases

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Financials
Sales 2020 - - -
Net income 2020 -5,81 M -4,70 M -4,70 M
Net cash 2020 2,29 M 1,86 M 1,86 M
P/E ratio 2020 -11,2x
Yield 2020 -
Capitalization 121 M 98,1 M 97,9 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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