VANCOUVER, Jan. 16, 2019 /CNW/ - 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.
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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SOURCE NexOptic Technology Corp.