VANCOUVER, Jan. 16, 2019 /PRNewswire/ - NexOptic Technology Corp. ("NexOptic" or the "Company") (TSX VENTURE: NXO) (OTCQX: NXOPF) (FRANKFURT: E3O1) today provided its shareholders with the following letter and corporate update from John Daugela, Chief Executive Officer.
For the audio version of today's news release please visit https://nexoptic.com/news/
Dear fellow shareholders,
Momentum is accelerating as we move into 2019. As many of you know, Digital Trends last week awarded NexOptic its "Top Tech of CES 2019" for Photography, a validation of our technology, our team, and our progress.
2018 was a year of ambitious stage-setting for NexOptic as we positioned our company for the next leap in its evolution, from a highly innovative development company to a commercially viable business. Our goal has been clear from the outset: to establish a successful commercial legacy in the world of optical design and product innovation. In 2018, we grew our suite of optical innovations to include artificial intelligence (AI). We would like to thank our early shareholders for believing in NexOptic's vision as we continue to create and innovate high-end optical lenses. Your support is an integral part of our goal to build a successful and revolutionary technology company.
Our products were front and center on the global stage at the 2019 Consumer Electronic Show (CES) in Las Vegas, where DoubleTake™ was included in the influential list chosen annually by Digital Trends, a leading online technology publication that provides comprehensive product reviews and breaking news to approximately 30 million monthly unique readers. CES has served as the proving ground for innovators and breakthrough technologies for 50 years, providing an essential platform for companies to introduce their next-generation products to the marketplace.
Click here to read our announcement of the award.
The task to transfer innovative concepts from the minds of our team members to NexOptic's drawing boards and from there to tomorrow's technology products is considerable. Our team is ready and driven to accomplish that goal this year, and we are up to the challenge.
What made us proud in 2018 is what makes us confident in 2019:
- We achieved exceptional independent test results with our first innovative lens for smartphones
- We developed ground-breaking AI for optics
- We filed multiple new patent applications, including patents to cover our AI, our efficient lens designs, and our consumer products
- We designed DoubleTake™ – our reimagined binoculars – with features never seen before in binoculars, including instant zoom, HD display, live streaming and sharing, and we demonstrated prototypes of both the electronics package and revolutionary compact optics package at CES
- We met with numerous potential corporate partners to assess paths for commercialization
- We added Bobby Braun, Dean of Engineering and Applied Science at the University of Colorado Boulder and former Chief Technologist of NASA, to our Board of Directors
- We grew our team to launch global sales and commercialization
NexOptic's management recognizes that 2018 was a challenging year in the capital markets and, as with most Venture Market listings, we experienced considerable volatility in our share price. Our mindset is to consistently build the company, and the stock price will follow. We continue to focus on innovation and product engineering with a solid business strategy to generate revenue growth.
We also recognize that there is room for improvement in our communications with you, the owners of our company. To that end, we continue to develop and upgrade our website and increase our outreach and awareness campaigns on social media channels, including Twitter, Facebook and Instagram. In 2019 we will use all our social media channels more frequently and more rigorously. We are committed to transparency and timeliness in all our communications, so we have engaged Canada's leading corporate communications firm, Longview Communications and Public Affairs, and in the U.S., we are working with Boston-based Elevator North, which has particular expertise in the outdoor and tech spaces.
This year, more than ever, I look forward to NexOptic hitting key milestones and transitioning to a commercially successful, sustainable business. Looking back on the decision you made to invest with us, I trust you share my conviction and belief that our best days and years are to come. Thank you for your support.
John Daugela, Chief Executive Officer
About NexOptic Technology Corp.
NexOptic is an innovative optical development company, which aims to enhance the way we view the world around us. Currently focused on engineering its first consumer product for the growing outdoor recreation market, as well as a demonstration prototype for the mobile device market, NexOptic is aggressively pursuing a multi-pronged optical innovation strategy. Utilizing Blade Optics™, the Company's developing suite of optical technologies, NexOptic can increase aperture sizes within given depth constraints of various imaging applications. Increasing the aperture size enables a lens system to have an improved diffraction limit, providing the potential for greatly increased resolution.
Blade Optics refers to NexOptic's lens designs, algorithms, and mechanics, which vary from patented to patent-pending, and includes all of the Company's intellectual property and know-how.
NexOptic trades on the TSX Venture as "NXO", on the OTCQX under the symbol "NXOPF," and on Frankfurt as "E3O1". More information is available at www.nexoptic.com.
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.
SOURCE NexOptic Technology Corp.