Appoints New Independent Auditor, Davidson & Company LLP.
TORONTO, ON / ACCESSWIRE / May 1 , 2023 / Nextech3D.AI (formally "Nextech AR Solutions Corp" or the "Company") (OTCQX:NEXCF)(CSE:NTAR)(FSE:EP2), a Generative AI-Powered 3D model supplier for Amazon, P&G, Kohls and other major e-commerce retailers, today announced that at the Company's request Davidson & Company LLP ("Davidson") has been appointed as the Company's new independent auditor effective today, May 1, 2023. Davidson's retention follows the resignation of Nextech's former auditor, Marcum LLP ("Marcum"), at the Company's request.
There were no modifications of opinion contained in Marcum's reports on the Company's annual financial statements for the period commencing at the beginning of the two most recently completed financial years through April 30, 2023. Over the next month, Nextech will complete the change of auditor process in accordance with the requirements of National Instrument 51-102 Continuous Disclosure Obligations ("NI 51-102") and provide an update to investors once completed.
Evan Gappelberg, Nextech3D.ai CEO commented, "We thank Marcum for their work on our annual audits for 2022 and 2021 and are pleased to now be working with Davidson & Company LLP., which we believe is better aligned with our growth plans and our budget. As we now have two public companies, soon to be three (NTAR, ARWAY and TGGL) that require annual audits, this move is expected to offer our companies significant annual cost savings. Davidson has been in business for 35 years, is a top 10 auditor in Canada and is widely recognized globally having worked with over 350 public companies. Their team is registered with both CPAB and PCAOB, and are experts in all financing aspects relating to public companies. We welcome them as our new independent auditor and look forward to working with them in 2023 and beyond."
About Davidson & Company LLP
Davidson & Company LLP is known as the go-to auditor and assurance firm when it comes to auditing companies in Vancouver, Canada, and around the world. Their team is registered with both CPAB and PCAOB, and are currently working with 32 US reporting issuers including 4 on NASDAQ.
- Among the top 10 audit firms in Canada
- Auditing over 350 public companies in Canada and around the world
- Registered with regulatory bodies in Canada, United States and around the world
Nextech3D.ai (formally "Nextech AR Solutions Corp" or the "Company") (OTCQX:NEXCF)(CSE:NTAR)(FSE:EP2) is a Company that provides AI-powered 3D modeling solutions focusing on the e-commerce industry. Its breakthrough generative AI technology enables the creation of high-quality 3D models quickly and efficiently. Nextech3D.ai's suite of products, including patented AI-based technology for 3D model creation and 2D to 3D conversion, has positioned it as a leader in the industry. The company is already a preferred 3D model supplier for Amazon, representing a massive growth opportunity. With the increasing popularity of e-commerce globally, Nextech3D.ai's services are becoming more valuable, providing an excellent runway for ongoing growth. For investors looking to participate in the commercialization of AI technology, Nextech3D.ai presents a unique investment opportunity.
The Company also develops or acquires what it believes are disruptive technologies and once commercialized, spins them out as stand-alone public Companies issuing a stock dividend to shareholders while retaining a significant ownership stake in the public spin-out.
On October 26, 2022 Nextech3D.ai spun out its spatial computing platform, "ARway" as a stand alone public Company. Nextech3D.ai retained a control ownership in ARway.ai with 13 million shares, or a 50% stake, and distributed 4 million shares to Nextech AR Shareholders. ARway is currently listed on the Canadian Securities Exchange (CSE:ARWY), in USA on the (OTC:ARWYF) and Internationally on the Frankfurt Stock Exchange (FSE:E65). ARway.ai. is disrupting the augmented reality wayfinding market with a no-code, no beacon spatial computing platform enabled by visual marker tracking.
On December 14, 2022 Nextech announced its second spinout of Toggle3D, an AI-powered 3D design studio to compete with Adobe. Toggle3D is expected to be public in the first half of 2023.
To learn more about ARway, visit https://www.arway.ai/
For further information, please contact:
Investor Relations Contact
866-ARITIZE (274-8493) Ext 7201
CEO and Director
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, "will be" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove to be accurate, as future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Nextech will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
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