Upstate NY Real Estate Broker is Now Selling Houses Virtually over Zoom Using the Vuzix M400 Smart Glasses

ROCHESTER, N.Y., May 11, 2020 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, today announced that the Company's M400 Smart Glasses has successfully been piloted by a licensed real estate broker and franchise partner broker of Howard Hanna Lake Group based in upstate New York and is now being used weekly to host virtual open houses.

COVID-19 has resulted in social distancing mandates in New York and other states throughout the country, creating a challenging environment for real estate agents to showcase houses without being allowed to host guests on-site.  The first virtual open house conducted by Howard Hanna Lake Group over Zoom, being broadcasted by the video camera and audio feed over the Vuzix M400 Smart Glasses using internet connectivity provided by a Verizon jetpack, was conducted on April 18th.  The virtual zoom open house enabled prospective buyers to see the ins and outs of the house and asks questions that could be addressed through the Vuzix M400 Smart Glasses' camera or by the real estate agent hosting the tour.

"I will use the Vuzix M400 Smart Glasses as much as possible going forward given the opportunity.  I had a property listed off and on three times and right after the first virtual open house was conducted with the smart glasses, I received a written offer the next day and the second house was just as successful," commented Mark Moon, a licensed NY State real estate broker, and franchise partner broker of Howard Hanna Lake Group.

"The Vuzix M400 Smart Glasses are creating new ways for businesses to operate in real estate and other industries.  The broadcast-quality streaming video capabilities that can deliver hands-free operations over popular video conferencing solutions like Zoom make the M400 Smart Glasses easy to use and effective with little or no technical expertise required," said Paul Travers, President and Chief Executive Officer at Vuzix. "With over 2 million active real estate agents in the U.S., according to real estate company HomeLight, smart glasses usage to sell homes could represent a significant opportunity for Vuzix."

About Vuzix Corporation

Vuzix is a leading supplier of Smart-Glasses and Augmented Reality (AR) technologies and products for the consumer and enterprise markets. The Company's products include personal display and wearable computing devices that offer users a portable high-quality viewing experience, provide solutions for mobility, wearable displays and augmented reality. Vuzix holds 157 patents and patents pending and numerous IP licenses in the Video Eyewear field. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2020 and several wireless technology innovation awards among others. Founded in 1997, Vuzix is a public company (NASDAQ: VUZI) with offices in Rochester, NY, Oxford, UK, and Tokyo, Japan.  For more information, visit Vuzix website,  Twitter and Facebook pages.

Forward-Looking Statements Disclaimer

Certain statements contained in this news release are "forward-looking statements" within the meaning of the Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Forward looking statements contained in this release relate to the Vuzix Blade Smart Glasses, our relationship with Howard Hanna Lake Group, future business opportunities, and among other things the Company's leadership in the Smart Glasses and AR display industry. They are generally identified by words such as "believes," "may," "expects," "anticipates," "should" and similar expressions. Readers should not place undue reliance on such forward-looking statements, which are based upon the Company's beliefs and assumptions as of the date of this release. The Company's actual results could differ materially due to risk factors and other items described in more detail in the "Risk Factors" section of the Company's Annual Reports and MD&A filed with the United States Securities and Exchange Commission and applicable Canadian securities regulators (copies of which may be obtained at www.sedar.com or www.sec.gov). Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law.

Media and Investor Relations Contact:

Ed McGregor, Director of Investor Relations, Vuzix Corporation [email protected] Tel: (585) 359-5985

Vuzix Corporation, 25 Hendrix Road, Suite A, West Henrietta, NY 14586 USA,
Investor Information – [email protected] www.vuzix.com

SOURCE Vuzix Corporation

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