Nextech3D.AI Corporation (NEXCF) Earnings Call Transcript & Summary

Okay. We are back with our champion top-performing super stock, really our first 10 bagger next the -- NexTech AR Solutions, Nex Super stock. I get a mixed up. They're so -- it's intertwined, of course, this stock. Many of you know the stock. I mean we introduced us, I think, back in August it was August 2019, about USD 0.45, stock increased over $7 a share within 10 months. So it was a 1,200% increase. And look, I mean, I heard from I would say dozens and dozens of people who create life-changing wealth for them. So Evan, I want to -- on behalf of all those people you made millionaires, I think they want to thank you, Evan.

They're more than welcome.

And again, this is one of the top performance -- the question now is -- I mean, look, we've had a pullback in the disruptive innovation stocks in the last 12 months. We've seen since February. We've seen what happened to the Arc the Kathy Woods ETF. But it looks like things are at a bottom here. Things are starting to finally build a base. And the question now is NexTech going to go back to 10x? Or could this be a 100 bagger. And there definitely is a path, so it could be anywhere from 10x could be 100x. I think it's not a question of if a 10. I think it's a question of whether it's going to be 10x, 100x or somewhere in between. So with that said, Evan, let me get -- I always do the long introductions. I always do the long introductions, I know we take a lot of...

Are you kidding me, that was like the cliff note version Jack. I was like ready to sit back and take a minute, I like listening to you anyway, Jack. .

So yes, let's -- I think Evan, first of all, welcome back.

Thanks. Great to be back, Jack. It's -- we're a dynamic duo. I mean, we really had a tremendous run together. I think we were able to communicate the message, and I think the message was a message that ultimately the market ran with. And so it was -- I had a very positive experience with you and the Wall Street reporter. And now we're back because the timing is right. The story has now come full circle, right? Because when we started in 2019, we were talking about augmented reality and 3D models and guess what, the market wasn't really there yet. And so now fast forward to 2022, and it is time. And so this is perfect for us to be reconnecting, reengaging. I couldn't be more excited. .

Yes, me too. So here's a thing -- it's interesting because Evan, look, you've been in the market for many years like you've seen the whole from pre dot-com through everything. I mean, you were one of the major investors backers of Take-Two Interactive when it was a small cap stock, and it became -- now what -- I don't know how many -- what's the multibillion market cap or whatever it is.

It's like $20-something billion now.

And -- but you were there, you were 1 of the investors when it was liking a $10 million market cap. And so the reason I bring this up is -- we've all seen kind of this pattern. There's a like a pattern where you have -- when a company is like an innovator, there's a disruptive innovation. First, they're a little bit too early, and the market gets really hyped up. They get excited the stock runs up. And then there's sort of like there's kind of a lag the growth is like were the actual -- the technology in the market actually has to catch up to where the company is, and that's like a period of 1 year, 1.5 years. By the end, the stock collapses. And that's actually the absolute time to get in because the market and the story and everything -- all of a sudden the timing is part, everything is ready. And now we're seeing AR. Like when you first came on -- it's almost -- was it 2 years ago, AR was still like most people haven't heard of it. It was a little bit out there. Now it's becoming a really [ onstream ]. It's becoming a Snapchat, Matterport is doing the so it's -- we're in the right space at the right time. So I think this is -- like this is like that second wave where the stock can -- that was like we had like a little preview, it was like a 10x, a little bit of a preview, got maybe a little bit ahead of itself. And now this is like the real run starts to happen now. We're I believe -- I got to ask you, of course, I believe this is when the fundamentals of the company really starts to perform in the market goes nuts over the next...

I couldn't agree more, Jack. I mean it's easy to forget now today that Apple, the most valuable company in the world was a onetime teetering on the edge of bankruptcy. I mean I remember when Apple was this walled garden, they had iOS and nobody really was adopting their technology, and they were kind of like about to go bankrupt. I mean 20 years ago, they were -- people were talking about the demise of Apple. They were losing $1 billion a year. And I think with technology specifically you'll see companies that come out of the gate early, like even Snap, you mentioned, Snap was...

Let's talk about Netflix.

Netflix is another one. There's so many tech companies, it's very rare that it's a straight line to the promise land to success. And so I think it's important for investors that are watching this that know the NexTech story that understand that this is not abnormal, what we're going through, what we've been through is actually pretty normal. And when you come back from these types of situations where the upside becomes just phenomenal. And so if you look -- I mean, Apple is a really, really textbook story, right? Because you had Steve Jobs come back and then Bill Gates comes and puts in $150 million and all of a sudden, they introduced the new Microsoft operating system and the Apple operating system and the company takes off and then the rest is kind of history, right? But you would think like that was rare you think maybe that was rare. But look at Tesla. Tesla was out of money. They were out of money. And you needed NASA to come in and bail them out, and even at one point, Tesla was burning so much money. I think actually, our friend Musk put money in, they like scratch together. I think he took a loan. He scrounged around for $20 million. Like that's not a lot of money. NexTech just raised $10 million, right? And he put in $20 million personally, he scrounged around and borrowed $20 million. And then this is back in 2008, the company was about to go bankrupt. And the rest is history, right? Now if you look at these guys today, the one thing that I think that you'll see that the common theme is these guys are relentless. And to be honest with you, Jack, that's my personality.

You know what, this is -- I mean this is interesting you say because let me -- here's the thing. I've said this before. Let's be honest, we've had our ups and downs. It's like sort of Guns N' Roses, they break up, kind of creative difference is what -- but here's the -- I've always said, look, the 1 thing which is, I think, extremely important is, it's very important for a company to be constantly on the offense, getting the story out to investors. And the one thing that said, look, this guy is relentless. They're constantly putting out news are constantly making progress is there's -- it's constantly -- it's on the March, I've seen -- one of the big issues I've had look, with stocks that we present the potential super stocks. And we've had like 9 stocks are that went up 10x to 50x, right? But one of the big issues we have is look, sometimes companies, and I say this, like a lot of CEOs -- it's not that they're afraid of failure. They're afraid of success. Like once they go to 10x, onetime, whatever is, all of a sudden, they kind of -- they don't know how to handle it and then like they kind of disappear and you never hear from these guys again, like for whatever. Whereas with NexTech, we've constantly seen -- I mean there's a track record here. This is the one thing. This is -- the one reason I have certainty that the stock is going to not only go to 10x, but potentially way beyond that is because we've seen the track record of constant news flow, constant progress. And as the market catches up to where you are with AR, these things take care of themselves. It's like Netflix. Netflix, originally, they were what they were shipping out DVDs. But what was the secret? The secret the reason we made it worth billions was the algorithm, the algorithm that the recommendation engine, which told them, "Hey, here's this guy like this type of movie and we can sell them this that was the key thing. But they had to wait till the bandwidth caught up, right? I mean even when [indiscernible] so here -- and the same thing is happening with the AR, in 2019, you were like in that early stage where you had stream, but it took an hour or whatever, now we're in a place where it is going massive, and the metaverse thing is becoming the theme.

For sure, for sure. And it is interesting. I mean, I was on the phone this morning with the guy from Bordeaux, France that we're partnering with who has an algorithm speaking of algorithms, right? So we have algorithms that we've built in-house, we have AI that we've built in-house, ML, machine learning. So the augmented reality was the thing when I started and founded NexTech back in 2018, but augmented reality is not the thing anymore. Augmented reality is just a tool to visualize the technology. But the secret sauce is in the AI, artificial intelligence, machine learning, the algorithm, the technology behind it is what's really driving our mission and our focus and ultimately the value of the company is going to be realized as these technologies start to really kick in and spin out 3D models on a massive scale. And if you think about the metaverse, Jack. The metaverse is really this blank canvas. And with that blank canvas needs 3D models for it to come alive. Whether it's gaming experiences, even the Pokemon, I mean that was like a 3D model, right, of a cartooning character. And so we're creating 3D models for e-commerce, and for the metaverse. And that really is a big deal. It's not a small thing. And we think that we have a leg up on the competition. We think that we really are the 3D model factory for the metaverse. And when you look at e-commerce, it's an unstoppable mega trend. There's only a few unstoppable mega trends whether it's EV, electric vehicles, whether it's drones, whether it's the metaverse, NFTs now maybe is unstoppable. Crypto, AI, right? And so e-commerce still is an unstoppable mega trend. It's now up to a $5 trillion global number. I mean that's just a massive, massive number. And it's headed to $10 trillion, I mean it's going to be that big. And so with e-commerce basically being that big and NexTech supplying that whole e-commerce ecosystem with 3D models it's just a very big deal. And so from my perspective, Jack, we're in the right place at the right time now in 2022 with the right tech stack, the right people. It took 4 years to get here. It's been a bit of a winding road, right? We had to navigate through a pandemic, and then come out the other side healthy. And we did. I lost some very close friends along the way that was difficult. But we're still here. And more importantly, we're in the right place at the right time. Even though there's a war going on in Ukraine, I was on the phone yesterday with a guy who is a furniture manufacturer and he's in that part of the world in Europe and he was talking to me about not even kidding. He's talking to how he has to buy bulletproof vests for some of his factory workers, but he's all in on what we're selling, 3D models and our configurator and he literally just said like, hey, can I have a couple of weeks because I'm dealing with a war. And I was like, sure, no problem, like totally understand, and I was telling my sales guys like, you know what, when there's a war or like a death in the family, it's okay, for these guys to get a little bit of extra breathing room. But the bottom line, though, is that the whole world is turning towards 3D, whether you're in Europe, whether you're in North America, Asia Pacific region, everybody is looking for 3D models. And even in the middle of this war zone, where some of these guys parts were being made in Ukraine. That was kind of his issue that he was struggling with. He had like a couple of pieces of his couch. I think it was the legs that were being made in some factory in Ukraine and it was kind of like he was just talking about his experience, what's happening in his part of the world. But the 3D modeling is the business that NexTech is really doing the pioneering work on. And we've just passed -- I think we've mentioned previously, over 10,000 3D models that we produced with something like 70% of them in just the past few months.

So similar -- it's very similar. The trajectory is very similar to Matterport, right, which is -- I think it's an $8 billion company, will Matterport, basically what they're doing for real estate sort of this 3D metaverse real estate and metaverse, whatever you want to call it. NexTech is doing with e-commerce. It really -- like NexTech, I mean, you're really at the epicenter of that you want to call it, e-commerce 3.0, the metaverse, it's all like converging right now. Well, these technologies are converging. And we see -- I mean, look at Matterport, they have some pretty impressive revenues now. It took them also, it took them quite a while to get to where they are, and they've had the peaks and valleys and everything else. So this is -- I think things are really -- the stars are really aligning for some incredible things to happen next within the next 12 months here?

I agree. I think if you look at all the different technologies that have proliferated in the world of e-commerce, I mean, you have, obviously, the JPEGs, right, the 2D pictures, you have the chat bots. Remember, that was like a big deal. Video is now a big deal. Social selling is becoming big, live streaming, right? So e-com is one of these dynamic areas where there's always some new technology that's coming in and adding more value. And so the e-com businesses, the e-com shop owners, they're always looking -- and I can tell you right now that things have shifted from 3D models being a nice-to-have product to being a must-have. Every single e-com site now is looking for 3D models. In fact, Shopify has come out and publicly declared the future of e-commerce is 3D models. Think about that. Shopify represents 55% of the North American market, 3.7 million Shopify sites are in their ecosystem, they've come out and told their Shopify site owners go get 3D models, it's the future of e-commerce. And then Google is now ranking 3D models higher in organic search. Think about that, Jack.

This could be the real catalyst for -- to really to drive this massively mainstream now because search is everything.

You have to show up. You have to be visible, right? You have to be searchable. Otherwise, if you're off the radar, if you're on an island in the South Pacific somewhere, where people can't find you. You're not going to sell any products online. You have to be searchable. You have to be able to be found. And so having a 3D model, you might rank on the first page of Google Search organically. I'm not talking about paid search. I'm saying without spending any additional money for advertising -- they're now -- we work with Google directly. Google has indexed our 3D models to their search. We work with them directly -- it's not automatic. It's not automated. We work with Google. We've sent them our 3D models, and we've indexed them. So that our 3D models, like if you, let's say, just go out and buy a 3D model from whoever, that 3D model is not going to rank higher in search. It's not indexed to the Google search. NexTech as a competitive advantage, where our 3D models are actually indexed to the Google search engine so that they rank higher. So that's just another competitive advantage that we have. And that's really our goal is to have all these competitive advantages so that we become the de facto 3D model supplier for everybody in e-commerce and even in the metaverse.

Yes. I think, look, in the e-commerce space, like what we've seen, it's always like in any business, there's always like -- it's basically the retailer, right? So there's always -- there's is like arms race, if you will, where everybody -- their main concern is how do we sell more products? How do we stop the shopping cart abandonment, what they call [indiscernible] . But how do we stop returns, everything, how do we show better pictures that they got -- we're talking about the chatbot, everybody is doing everything they can to optimize sales because really, it's like -- and with the internet, obviously, you can track everything, you can see what you're -- everything -- there's metrics or everything -- and what you're doing is you're giving e-commerce, these e-commerce companies a massive, massive advantage. I think it's almost like it's almost like it's an asymmetric advantage, what you're doing for -- like any business -- like essentially for a smaller e-commerce company -- you're dealing mostly with bigger companies, but across the board, I think, right?

So again, we're trying to be the 3D model supplier, not just to the big boys, but we're democratizing it. We're offering it to the small Shopify site owner, the medium Shopify site or brand as well as the big box retailers. And it's interesting, Jack, because there's so many -- it's really a confluence of events that are all coming together to drive the adoption of 3D and augmented reality. So -- right now, mobile devices make up about 73% of e-com sales. Think about that. So if you are trying to experience a product in AR, augmented reality, where you could drop the 3D model into your room. You need to be on mobile. So that one-- so again, back to 20...

So 73% of e-commerce is coming through mobile -- and your system really is kind of it's designed for mobile.

Yes, it's purpose built for mobile, like without people shopping on mobile back to 2018, it was like 40%. It was like 35% to 40% of people shopping on mobile. It's massively shifted massively -- and if you think about -- we were talking about e-com, again, it's going to go from roughly -- it's supposed to double over the next 4 years. By 2025, -- it's expected to get to about $11 billion. So the global trend towards this digitalization, this digital world, 3D world is surging at lightning speed. And I don't think people really realize what I'm saying, like I mean, I buy all my stuff online, like I'm a size 12 shoe. I don't go to shoes in the -- I don't go to sneaker stores wherever. I just order them online. I know my size and just order them online. I mean e-commerce by 2024, according to Shopify in the U.S. will overtake physical sales. That means that once -- that's the tipping point. And if you think about all those people that are shopping online, on mobile, they're looking for a bridge to bridge the gap between shopping at home online and/or shopping in the store, right? So there is a bridge, there is a gap, they're looking for something to bridge the gap. And up until now, it's been video, like you see videos of product.

People want something they want something which is as close to the physical experience as possible. And 3D thing is the thing that gives the we should do is I just realize, by the way, we've got a bunch of questions coming in. We're going to get to those questions. We're going to get to everybody's question. I mean, I hope you have time because we've got a bunch of questions we've got to get to. We should actually -- should you show a demo? Because we've got people -- I just realized we got a lot of new people. I was kind of almost I was also assuming like everybody know, but there's 90% of people who are going to be watching this like that they don't even know what you're doing.

Let me take everybody maybe behind the curtain -- into our -- not the factory, but the content management system where you can see ARitize 3D. Can you see my screen, Jack?

Yes, yes.

So this is ARitize 3D, and you could see that's our brand, that's our trademark.

This is like on your side of it.

Yes, this is on my side. So here's categories, we could click on one of these categories, let's say, coffee tables and all of a sudden, we have like some coffee tables that pop in. So here's an example of a 3D model, again, on the back end, this is really interesting. So this is a 3D model. You could see I'm just spinning it around, you could really get a sense for what it would look like if it was to show up at my house if I was going to order this online. This also speaks to the reference photo. So look at this. This is our AI. AI has taken these photos that you see right here, pulling up the photos that we used to create this 3D model. So these are the photographs. And then here's the result, right? So pictures, 2D pictures into 3D models using AI Amazing. I mean incredible.

And -- but is there a way we can show exactly it because essentially, you can take this -- the product and actually pop into your own room, right?

Whoever is watching take out your smartphone, open up your camera, scan that QR code on the screen there. I'm going to do it myself. Actually, my phone is off.

So anybody watching this video be right they get like scan that, they're going to take a picture about QR code.

Not a picture, just hold your phone camera up to that QR code that you see on screen, so it's a scan QR code, and then hold your phone like above the floor, move it a little left to right -- and then when you see kind of like a ghost version of that stool, tap your screen and all of a sudden, the stool will be in your space, in your house or wherever you are as a 3D model as an augmented reality experience, -- and that is the magic of what we do, right? And then on the web, -- and that's all on mobile. And this is what I was speaking to earlier that 73% people are shopping now using mobile, and I'm looking at the stool and super cool to be able to look at that. Let's take a look at -- I mean, the stool is kind of boring a little bit. Let's see if there's any other interesting products. I mean, this is a table over here, which -- I mean, this tool is kind of as boring as it gets, but and the table is kind of also boring.

Let's see other things. You have anything more -- let's see what other items we show that are more, I don't know, exciting than furniture -- something -- what else do you have? Let's give us some examples of -- how about clothing apparel because apparel is a big thing, right? Like in terms of returns, that's one of the big issues.

Yes. I mean, here's a bed there's actually some beauty products -- oh, this is actually cool. This is a Guy Fieri knife, look at this thing. The quality of this is -- this is the knuckle sandwich knife. If everyone watches, anyone watches diners, drive-ins and dive. So this is the Guy Fieri knuckle sandwich 8-inch chef's knife. And so if you look at the reference photos, again, like there was a reference photo that was used. This was the photo to create that knife. You could see how photorealistic it looks, which is critical. It has to be photorealistic. Here's a couple more pictures of the knife in action. And then there's the QR code, again, that you can use to see the knife in your space?

Like you can see it on your kitchen counter, basically, you can pop it onto your kitchen counter, you can see what it looks like compared to other things you have there for reference?

Okay. Yes. I mean, I'm pulling it up now. Let me just see. For some reason it's tiny, a tiny little knife. So that's 1 of our products that is just a great demo. This chair is pretty famous this -- this is a couch.

Is the furniture, is that a big percentage of your...

Furnitures are the biggest category for sure. This is actually pretty cool. This is a ring. So these are like diamonds. You could see it's a pretty cool ring that we did.

So for furniture, I mean it's a -- there's actually -- it's crazy. Now there's there is more and more people buying furniture online like this -- and this really gives the sellers, the e-commerce a massive advantage because now somebody can actually see like what this furniture looks like in their home. So it doesn't just arrive, that comes off the truck and say, oh, this is too small or too big.

Yes. This is a rack that we did -- this is like you could see even industrial stuff like this is just about the rack that stores, the mower or equipment, right? So these are actually important things, if you think about how many products that you might buy, if you think about the transition to e-commerce from actually having to go into the store, not everything is important in terms of being able to visualize it, but some things are really necessary that you're able to see in your space, and like that rack was one of them. So this -- I don't know, this is -- see what this is. This is a pump, centrifugal pump.

Somebody is asking, can you show the configurator?

I can't show the configurator.

What is the configurator?

So the configurator is critical technology that is really, really about being able to change the color of the products. So let's say you have a couch and you want to see it in different colors or different material. There's a QR code for this pump. So you could scan that and look at that in your room.

By the way, somebody asked, can you put a 25-foot Boston whale, which is the boat I guess, he wants to -- if it will fit in his -- I don't know, but yes you've shown, you've shown a massive piece of machinery, right before. I remember 1 of the early demos was you had some massive -- it was like a fire truck or something that you showed inside the office.

Yes. You -- so look at this, this is a car. Well, this is an engine, I think it's for a motorcycle. But yes, you can -- we've done a boat for Brunswick, and so the boat actually is huge. I mean it's the full-size boat. I don't know if I can, let me just see here if can pull up this -- oh, there it is. Look at that. So this is huge. This has 12,000 parts. So this was done by our CAD to poly technology. So this was not like 2D to 3D. It's just too massive. So there was a CAD file that was used to create this, but look at this boat. So I'm going to put the QR code up there. You got to go outside if you want to see this boat as a full-size boat, but it's there. So have at it.

Okay. And what about the -- I think the configurator, this is somebody wanted to see this.

So I can't show the configurator, but I would have to go into like a different -- a completely different screen, which could -- it would disrupt this.

You know what, let's save that for the next presentation. I want to get into a couple of questions. But Bottom line is this, right? So essentially, you're enabling these 3 -- basically what Matterport, what Matterport, NTTR and, what they're doing for real estate -- NexTech is doing for e-commerce is really the bottom line?

Yes. I think even on a bigger scale, I mean, they're now interestingly starting to bring in 3D models into their scans, like -- but it's interesting. They originally were selling scanning equipment or renting it -- and now they've realized like anybody can just use their phone. And so that whole business has gone away. So now people are just using their phone, I think our business actually has more legs to it than a Matterport.

I think they're doing about $100 million in revenues, Matterport. 25x multiple, 22 -- was it 25 -- was it -- I think they're trading at how much -- a lot of -- multiple billions, I think a 25x multiple. And this is -- that's down, of course, from what they were earlier. But the point is essentially, what they're doing for real estate you're doing with -- for e-commerce, and you have a lot more SKUs. There are a lot more SKUs, products than there are pieces of real estate. I mean, globally, it's just -- it's a number of things, right?

Exactly. I mean, we're estimating $400 million. And if you do the math, Jack, so we charge $10 per SKU per month. So let's just walk through that real quickly. So we've just passed, let's say, 10,000 SKUs, and so let's just say that's...

And this is all recurring revenue.

Yes, MRR, right? So -- if you think about that, so that's, let's say, $100,000 a month. So by the end of this year, let's say, we're able to get to 100,000 SKUs, 100,000 models, which is a drop in the bucket, right? That's $1 million a month. As we roll into 2023, we would want to get to somewhere between 100,000 and 500,000 SKUs. So that's between $1 million and $5 million a month in revenue coming in. And then as we roll into 2024, we go for that 1 million SKUs, which would get us $10 million a month in just using simple math. That doesn't include the configurator, which we charge essentially $500 per month. So let's look at this couch here, for instance. We could talk about the configurator. So do you see the fabric on this couch, Imagine this couch came in leather.

Let me pop this. Let me do -- looks good. Okay, yes.

Yes. So imagine this couch comes in leather, right? So imagine it comes in suede. And imagine it comes in different colors. It's the same couch. Our configurator would be able to -- just you click on essentially a swatch, a little swatch of the fabric, you want to see the couch in and it would magically change the image, the 3D model. So we charge $500 per month for that technology. That allows the furniture manufacturer who might have 100 different variations on this couch on screen here to only make 1 3D model instead of 100, right? And then they just pay us the $500 a month for the configurator and now it's like 1 model, turns into 100. That's the power of the configurator. So back to the business model, once we start getting the scale going on the number of models out there that we have in market. It's not just about the $10 per month per model. It's about the $500 that becomes part of the equation. And that $500 million is pure profit, meaning it's 100% software. There's no -- like the model creation is the only cost. Once the model creation is done, the configurator is just software and there's an enormous amount of margin built into that. And so that's what's actually driving a lot of the conversations we're having with the big brands because all the big brands have multiple colors, have multiple fabrics, have multiple -- I mean, here's an example. If you think of a hot tub, hot tub, inside, the shell has different designs and the exterior they're outside shell has different colors. And so Imagine you have the ability to change the inside and the outside color, again, using the configurator. And then even you could take it as far as, hey, I wish I could see this hot tub with water inside we can do that, too.

Okay. In animation, with the actual -- they see how the bubbles are going from the jets and all that.

Exactly. Animation and motion.

So really, the path, it's very similar, again, I think for people to really understand what the possibilities are for NexTech. All they have to do is just look at Matterport. So what Matterport does for real estate, NexTech is doing for e-commerce. I think Matterport is doing $100 million, so they're doing $100 million, I mean, you could be doing $100 million. It's just a question of how big and how fast you can scale. And I think now we're starting to see an acceleration in terms of adoption by some of these big brands? Like what are you seeing like what are you hearing from your customers? Like why are they signing up?

So when I get on sales calls, which is almost a daily occurrence, what I'm hearing from all the big brands and all the midsized brands are saying, yes, like we've been told to go get our 3D models, like it's coming from the higher ups, like they're being told, go get 3D models. They want it to be photorealistic meaning they want the 3D models to look like the actual product. It can't be shoddy work. So that's a key piece. If you look at the models I'm showing, these are high-quality photorealistic models. There is a massive, massive difference in the market. And again, that's again 1 of our competitive edges. So being able to create models that look photorealistic is a differentiator in the market. As far as the demand, as far as what we're hearing, everybody is just saying like, yes, either they've heard about it, if they're a small guy and they're interested or they're -- they've been told by the higher ups that they have to go get it if they're a brand. And there's a reason why, it's not random. There's a reason, you cannot enter the metaverse, Jack, without a 3D model. There is nothing you can do in the metaverse without a 3D model. So we see ourselves as essentially an enabler where we're enabling all these e-commerce brands and stores to enter the metaverse as the metaverse evolves, they'll be there because they'll have the 3D model. And I think that is resonating.

In other words, these brands, they can't get into the metaverse, will that have the 3D model. So in other words, you're their path. I mean, this is like they have to pay a toll to NexTech to get it to the metaverse. NexTech is the toll bridge, the toll collector on that bridge. If you want to enter the metaverse, you got to pay.

If you want to have a 3D model, if you want to enter the metaverse, NexTech is going to supply you with that ticket to enter. Otherwise, there's nothing you can do in the metaverse. It's really that simple.

Yes, it's interesting. By the way, I just realized you had the logo, the NexTech logo. I remember when I saw this logo -- and this is like way before -- and I think Facebook basically copied the logo, I think there might be a potential lawsuit here that you could sue them. And this is like $10 billion. I mean that could be a hidden asset, the potential litigation with Facebook or Meta as they call themselves now.

I mean I'm not going to speculate on that, Jack. I'll leave that up to you.

So what -- okay, so I guess the question is how big -- how far can you scale? What's the path? Okay. First of all, let's go through some numbers again because I think people need to understand, like, what needs to happen for NexTech to, let's say, be a $10 stock today? Like it's roughly, was it USD 0.80, what needs to happen for it to be USD 10? And then potentially, I mean, this sounds crazy, but could it be $100 stock? Not in 3 months, but let's say, 3 years from now, it could be 4 years. I mean, I know people have to, oh, my God, you've got to wait 4 years to make 100 tons of money. I know it's like shocking. Everybody wants immediately. But I mean, it's happened for other stocks. I've seen many stocks, I mean, who've gone 100x.

Yes. I mean, that's basically -- I mean, why I take all my salary in shares, the senior managers at NexTech take -- some of them take 50% of their technology -- of their salary in shares. We're all in for the long haul because we do see blue skies. I see 3D modeling -- look, all of our competitors, Jack, have been acquired.

Interesting.

They're being picked off. One...

What are the valuations? What are the valuations...

They're almost all private, but like -- I'll give you one public example. This company wasn't acquired, but they did like a Series B round for $35 million and that was last year, late last year. And all they have is the configurator. They don't make 3D models. They just have the configurator. We have the configurator and we have so much more. So if they're raising $35 million, what do you think their valuation was?

$500 million.

I don't know, right? Some big number. So all I can say is Snap or Vertebrae, Niantic just bought 8th Wall. There's a whole bunch of app acquisitions, Epic Games just bought Sketchfab, which was a 3D model marketplace. The big tech companies, Unity also just made an acquisition of another 3D model marketplace. They're all kind of clamoring to get into this space. And NexTech is really the only pure play where we went public early. These companies were all private. They were not public. And we're -- investors never really got a chance to invest in those companies that were acquired, at least not the public market investors. And we're really the only path, the only way that you can invest in this 3D model metaverse...

The future of e-commerce. Let's just call it. I mean this is the intersection of metaverse and -- this is like...

So back to valuation. So back to your question about valuation and how do we get to 10x or 100x. Well, once the market realizes what we're talking about, and it's becoming -- it's getting louder and louder and louder. Like again, Shopify has come out, future of e-commerce is 3D. Okay, that's like the Shopify ecosystem here is that, but does that really get picked up by the mainstream media? Not yet. They're still on metaverse and NFTs and crypto. But I can tell you that it's going to happen. There will be this tipping point, and I think it could happen in 2022 where everybody starts talking about 3D models. Where do I get my 3D model? How do I get a 3D model? Who sells -- who makes 3D models? Who's the best, who's the biggest, who's the most scalable? Like these are the things that I'm hearing from the inside. This is what companies talk about internally. It's not public yet, meaning it's not in the public domain, it's not being written up in newspapers so much. But when it does happen, I think that's when everybody is going to kind of twist their head and turn towards NexTech and maybe pay a little more attention to what we do as a business because it really is unique. What we've built is actually very, very valuable, in my opinion, and the value is just now starting to be, let's say, mined and developed as a business where we're generating sales and we're signing up customers and we're getting repeat customers coming back for more 3D models like -- and if you think about it, Jack, once you had a taste of high-speed Internet -- was there ever going -- are you ever going to go back to like a dial-up modem? No.

Some people say that's what I use for the livestreams from his but...

And so once you get a 3D model on your website, you're never going back to like 2D product images. It's just not going to happen. Nobody walks backwards when it comes to business. You've crossed over. And so right now, there is a trickle or a stream of business coming through. The floodgates are starting to open. They're not fully open yet. I'm predicting that they're going to continue to open throughout 2022, and they're going to open massively in 2023 and beyond. And 3D models will just be like everybody will have to have to have one, just like you have to have a high-speed modem. You can't not have it when -- if you want to be competitive. And so that's what I'm predicting is going to happen with 3D models and e-comm that you have to have 3D models.

Okay. So okay, let's talk about the other -- so you've got multiple -- there's multiple lines of business, right? You also have the e-commerce business, which is -- can you explain -- I don't know the thinking about it because there's been a lot of controversy, well, why are these guys selling vacuums or why are they selling -- but really, I think people in the business -- what you're doing with the e-commerce business is very similar to what Google does with Google Labs. I mean this is really like an innovation, not only are you making money with it, it generates substantial revenues, but it's really kind of an innovation lab where you're able to actually test out these new ideas, actually see how they actually work in the real world, which also helps -- I think does it help when you set up new customers because you can say, hey, we're able to sell something as mundane as a vacuum cleaner. If we can sell a vacuum with this -- if this helps push product out with this, imagine how you could do with whatever you have, the -- boats, whatever.

No, you're making a good point. I mean we took a page out of big tech's textbook. It is textbook and anybody that I talk to...

Amazon.

Yes. Amazon, right? They have Whole Foods. They sell bananas and mangoes and kale, lettuce. And so the question is, why? Why? Why do they do that? Well, now when you walk in, they ask you if you have an Amazon, do you have a Prime account, which is kind of weird, right? Because it's like -- and so they're trying to collect data. They want to see the buying habits of consumers. They're not in the business of necessarily selling foods and vegetables, whoever is in Whole Foods. They're in the business of data, data mining. And they want to know what people are buying and what works and doesn't work. And so when you look at NexTech, our e-commerce businesses have given us a tremendous competitive advantage in understanding the customer journey and understanding what works and what doesn't work. We eat our own cooking. If you go to our e-commerce sites, they're now loaded up with tons of 3D experiences and spinning 3D models and banner ads and augmented reality experiences. And our e-comm sites have grown by 500%. 500% growth is not easy -- it's not an easy thing to accomplish. It doesn't matter what you're selling. And so to think that those businesses are bad business is really not understanding NexTech, not trying to understand big tech that we're a little tech. We're a little tech company. We've taken a page out of big tech's textbook. We're trying to become a big tech, tech company, and we think we're well on the path, and these e-comm businesses are just stepping stones like you said, Jack, they're kind of these like Google Labs. They're just -- the opportunity for us is to generate revenue, as you've mentioned, and to generate knowledge base to gather consumer data and to see what works and what doesn't work. And our websites are on Shopify. And so that integration with Shopify taught us a ton. We've now integrated our 3D model making capability on Shopify, our e-comm sites are on Shopify. So we know the ecosystem. It's like the neighborhood. We know our way around the neighborhood. That gives us an advantage over somebody who shows up -- it's a new neighborhood, they don't understand. It's like, okay, they have some tech, but they don't really understand how to apply it. And so we just look at all of this as stepping stones towards the ultimate goal, which is scaling our production of 3D models and really becoming the 3D model factory for the metaverse and for all these e-comm -- these millions of e-comm sites, and that's really the focus for us in 2022 and beyond, Jack.

Let's get back to my -- we're going to get into the audience questions right after this. I just want to ask 1 question. This is my favorite question, which is, look, the path to 100x. I know it's -- people think, oh, this is crazy. But everybody said it was crazy, the 10x was crazy. But you got to 12x, 1,200% increase. Look, I believe -- I mean, anybody following the story, anybody who kind of knows you a little bit, Evan, I think they understand that, really, NexTech is not -- yes, sure, it's great technology, everything else. But at the end of the day, it also is a big bet on the jockey, even more than the horse. And we've seen like how much of a difference having a great CEO makes with companies. We've seen companies evolve from one business to become something completely different, whether it was Airbnb that started -- I think originally, those guys were trying to sell cereal, and then they had to pivot the selling rooms. But it was a change in the vision. Or like anybody older may remember Time Warner, which was bought by -- but Time Warner, the massive multibillion-dollar media company started with a funeral home and a partner lot. It was basically in a trench into massive media conglomerate, Warner Brothers. And then they bought AOL and it imploded after that. But they had a very good run with -- under Steve Ross, right? So I think the same thing here. So my question, I guess, I'm getting to is this. Because really importantly, it's the motivation. I think critical is the psychology, the motivation here. I don't think you're going to be satisfied if the stock just goes to 10x. And I have like certainty -- not faith, but I am like -- let's call it, 97% certainty that NexTech will go back to 10x. They might take 3 months, 6 months, it might take 18 months. But the question is, what -- do you feel a motivation to get to 100x? Or what's the number where like you feel like you're going to leave kind of like your dent in the universe?

No, it's a deep question, Jack. And that's why I love being on your show and working with you is that you ask those tough questions. It's like -- it's not even a business question. It's like a personal, like you're digging deep into my psyche, right?

That's the most important thing, I mean, for the stock. It's the motivation. Look, we've seen it. Anybody who is an investor has -- especially following the CEOs, they've seen this firsthand, right?

Yes. So I've thought about it. I've meditated on that question quite a bit. And I basically landed on this idea that to get to a $1 billion valuation from -- again, this back of the napkin idea I had in 2018 would be a huge accomplishment, right? So that would be -- I mean, from when I started the company where we had an $8 million pre money, $11 million post money. I mean I don't know, do the math. From basically $11 million to $1 billion, right? To me, that would be super gratifying, super gratifying. Now -- having said that, again, I've meditated on this, so it wasn't just like a minute that I thought about it. So getting to that $1 billion means that I can get to $5 billion or $10 billion, right? So once you achieve that kind of success, that kind of scale, you can repeat that and get to $5 billion to $10 billion. And so that's -- so I know I need to get to $1 billion to get to $5 billion to $10 billion, right? It's almost like, hey, you make your first $1 million, the second million becomes much easier. It's kind of you get to that $1 billion market cap, the second $1 billion...

We saw it with the first $1 trillion, right? As soon as somebody hit $1 trillion, then -- it's like Apple. Like...

Yes, like a 4-minute mile. It's like the 4-minute mile, right? This is the same thing, right? So I am focused right now on getting to that $1 billion because I know when I get to the $1 billion, I could get to almost unlimited heights. And then -- so that's kind of my thinking. Instead of thinking, oh, I want to get to $10 billion. I'm thinking, you know what, let me get to that $1 billion market cap, and then we can rinse and repeat to get to $2 billion and $3 billion and $5 billion and $10 billion. That's my -- that's where I'm at right now. That's where I'm at today is I'm focused on that $1 billion market cap, which I think is still an enormous, enormous accomplishment. So that's 10x.

That will be $10 -- well, roughly $10 a share right now. And look, beyond that, the future -- I mean, look, the reality is the company could evolve in many, many ways over the next few years. I think this is not like a day trader stock. I mean, this is really like you got to look into this, you got to buy into the vision and be in it for the long term because, look, what we've seen over the last 3 years is proven execution. Look, I mean, we've seen you pivot with the company multiple times. We've seen the ability to take advantage of M&A opportunities or capital markets. We've seen obviously, with the news flow, everything has been done, like is absolutely perfectly. So I think it's just -- it's a question of being as an investor for somebody to -- like you got to be in the water with the surfboard waiting when that big wave comes. You can't be sitting on the sand, on the beach. And then you're going to -- when you see the big wave, by the time you get there...

You start running away for me.

Yes. It's going to be a little late. Okay. So let's get to some audience questions here. We've got some great questions here up here.

Are you still doing the screen share or no?

No, no, we're not doing the screen share. No, you see me on the screen, right?

Yes, I see you.

Okay. Then yes. So just -- okay. So a question we see, what are those 3D models -- oh, I guess this is an early question. How do you -- okay. So how do you make the 3D models that -- did you explain that? How do you make them?

Yes. So I mean it's a combination of different technologies. We use AI as our computer vision technology. We use CAD to POLY technology and we even have 3D modelers, people that actually sit behind a computer and use software to make some of the 3D models. So it's a combination of multiple techs. Ultimately, we want to have less and less human involvement to the point where it's almost all automated.

Okay. Oh, the infamous NASDAQ question, NASDAQ. What's going on with NASDAQ here? Is there going to be a reverse split? How are we going with that? What's the update on NASDAQ?

Yes. So we can't make public statements. I can make general comments that we changed our auditors in 2021. That was to satisfy one of NASDAQ's requests. As well, we've changed our law firm just to kind of bulk up and beef up as we look to uplist. We've also increased our corporate governance. We have a new Board of Directors member. We also have a new Chairman of our Audit Committee. So we've made the necessary steps that are required to get to NASDAQ. And so that is still on the front burner. It's not on the back burner. It's just, now in my mind, a question of timing. But it is still going to happen. There will be a day where we're trading on NASDAQ. And everybody will be like...

They'll move on to the next thing.

Yes.

It's going to be like a nonevent, I think, almost. I mean I really don't care if the stock is -- I think...

Before, you've said that. You've said that -- my motivation is a little different is that my reputation is hanging out there in the wind where everybody heard me say...

Right.

Right? So I have to now deliver. And I will. I've always delivered, and I will deliver.

Okay. So it will happen -- so okay, one of the things -- I think one of the requirements was they wanted you to go with like a bigger ordering. And I think, look, you got a small -- when you start off as a -- look, I mean, the cost, these ordering costs are like they're enormous, right? The math is huge. Huge cost, it's ridiculous. When you started out, you had a small accounting firm, right? It was like less than 500. Now...

Yes, yes, yes.

They're forcing you to...

Yes. So we had a small firm out of Vancouver that we were paying $60,000 a year, I think, Canadian to when we started. And now it's like USD 200,000 plus, so it's like $250,000. So from $60,000 to $250,000 is a big switch. But...

It's for starters. It's just for starters.

Yes. It's just for starters, right? It's going to get -- it's going to keep going up as our market cap and everything else goes up. But the bottom line is Marcum is a big accounting firm.

Oh, they're huge, yes. They do -- they actually -- they used to do a big investor conference with that all their client companies. They do a lot of like NASDAQ -- I mean, one of their things, one of Marcum's like kind of things is they're like the transition of getting old companies from OTC to NASDAQ. That's their like -- I don't want to say bread and butter, but it's a big part of their...

It is. It is. And NASDAQ loves when you have the Marcum seal of approval. And by the way, nothing changed. Like Marcum was our auditor in 2021, DMCL was our auditor in 2018, 2019, 2020, nothing's changed. Like it wasn't like Marcum came in and said, oh, we don't agree with your previous auditors. In fact, they knew each other surprisingly. And they worked...

I'm sure there's some sort of thing where like Marcum gives NASDAQ a kickback or vice versa.

No...

They have some sort of thing going on, I'm sure. Because what are they doing? They just put in their name. I mean, obviously look though -- but, yes.

No, it's kind of -- think of it like this, Jack. It's kind of like you have your -- the guys that graduate from like the state colleges or like the -- let's call the regular colleges. And then you have guys graduating from like the Ivy leagues, the Harvards, the -- and so as you move up...

Your brother went to Harvard, right?

Yes, he did. He is a Harvard grad, yes.

Right. So who's the black sheep in the family? You or the brother?

He is. He is, he went to Harvard. Come on. He's the black sheep.

So basically, right now, it's going to be a question of timing when the NASDAQ thing -- like I don't -- like as far as I'm concerned, the stock could run 10x, we've seen it run 10x without NASDAQ. I really couldn't care less. But we're going to see it, that's fine. Okay. Question, fair enough. What percentage of AR revenue do you expect to come from Shopify? It's an interesting question.

So I mean, we're not going to break it out by platform. It's really just our 3D modeling business, the AR revenue business is the fastest growing part of our business. And it started out with a very small base. So as we come out of 2022, it will probably represent, I'm guessing, somewhere between 25% and 50% of our revenue. And then at some point, it will represent the majority of our revenue going forward.

Okay. How many patents do you have? And what are they?

You've got to look at our patent portfolio. We're actually building our patent portfolio. So we have a few patents, and we are building a patent portfolio, which we will be actually showcasing to our investors very, very shortly.

Okay. This guy's asking all the tough questions here. Okay. So last year, there was a loss. It was a 32 -- it was like a big accounting loss. It was a big year of transition. What actions are you going to do to reduce it? I would say what actions are you going to do to...

Yes, 2021 was a transitional year for us. I mean that's a huge number. There's no chance that happens again in 2022. We've made all the changes. We reduced our headcount by about 200. So at one point, we had like 300 employees, we're now down to a little over 100. And so we've reduced our overhead. We've reduced our spend. We've gotten lean and mean and really focused, again, on this 3D modeling business. Whereas previously in 2021, we were coming off of the 2020 pandemic where we really ramped up our spending to build our virtual events business and that whole business is now on the other side of, let's say, the growth curve.

Yes, it's interesting. Look, sometimes -- it actually, the events business was very good for the company early on, right? So like this was -- could have been the next big thing. But look, with any type of business, like, again, you seize the opportunity. You got the opportunity there. You try to scale, and then sometimes things work, sometimes they don't work. We don't -- you don't -- you never know what's going to be the thing that's going to be -- again, like Airbnb, they try to sell cereal and then they realize, oh, let's look at selling rooms.

Well, I would take it one step further, Jack. I'd say, look, the virtual event business was opportunistic. We got into that because of the pandemic. There's no other reason. We would never have gotten into that business without there being a pandemic. So it was hopefully, a once in my lifetime type of thing. I don't expect another...

We feel a lot of shareholder value was created from that thing. I mean there was a -- it was a huge stock.

Yes. I think that's why the stock ran to USD 7, CAD 10 because back then, anything pandemic related, whether it was a biotech, whether you were selling Clorox Bleach, whether you were selling or doing virtual events, I mean, look at Zoom stock, right? Zoom has zoomed up and zoomed down. And we've luckily been diversified so that we're not -- we're not dependent on that business in 2022 or beyond. So we've pivoted away from that.

Okay. So right now, it's back to the original focus, which was the 3D models, the AR for e-commerce, that was the original thing and for the metaverse. And this is -- and that opportunity is bigger than ever today. I see there's another question here. Is your underlying AI solution based on test or flow? Do you have to train your AI yourself? Or do you rely on Google solution?

No. We train the AI. The AI learns as it sees more and more -- more and more 2D pictures, it's learning.

In the past, you've talked about pricing per click, but the Shopify app is a monthly subscription. Is that price being applied for all verticals? Or is pricing different for different verticals?

Pricing is essentially the same for almost all verticals where it's that monthly subscription. That's what we have brought forward. Monthly recurring revenue is our focus, annual recurring revenue is our focus. So we are essentially offering almost all of our services as a monthly recurring revenue subscription SaaS model.

Hologram is an online dating -- okay. So was there -- I think where you can -- and you turned it to hologram, and this is like -- this could be the big thing for these -- what do you call it? What's that site on the phone?

Tinder?

Tinder, Tinder.

Yes, yes, yes. So here's -- so interesting [ carol ]. So you could go online if you have an iPhone and download ARitize Holograms and turn yourself into a hologram. That's live today. Tomorrow, meaning in the near term, we'll have the Android version, that's this month, in April, live. But more importantly, we're launching an SDK. An SDK means you could take our tech and use it in your app. So if you're a Tinder, you can take our SDK and license it from us and use it in your app. So that SDK is probably 60 days. It's in development, but it's not fully built yet. So that's still being built. These things do take a little bit of time.

Okay. So I think this is a follow-up to an earlier question. So when can we expect the company -- I guess he's asking when can we see the company become cash positive and show earnings?

Yes. So the net loss is already shrinking. It's already started to shrink. As far as profitability, we're really -- right now, we've -- we're taking our burn down to about $1 million a month, and we're scaling our revenue, right? So that's really the story. As far as when our revenue exceeds our burn, it's a tough estimation, but we're driving really hard to get to that $1 million a month in recurring revenue. As I mentioned earlier, if we have 100,000 models in market, we're there. So right now, we have over 10,000 models, but we don't have the 100,000 yet.

So you need to get to 100,000 models, basically.

Yes.

Okay. Okay. Current -- okay, what's the current run rate? I guess with everything you want to include -- e-comm, AR, you want to include everything in there? What's the...

What do you mean run rate? What does he mean by that?

The run rate, the sales, I guess, annualized revenues base.

Yes. So if you look at our -- there's a couple of research reports out that point to us doing in the range of roughly $3 million a month in run rate revenue. So now that's going to scale up, meaning we didn't do that in, let's say, January, right? But by the time we get towards the second half of the year, we should start to see those numbers materialize.

Okay. You announced the partnership with Ericsson. How was that being quantified or what is -- Ericsson?

Yes, Ericsson. So Ericsson is a partner. We do -- they have customers essentially they bring to us and we do POCs. So that's really the relationship that we have with Ericsson.

Okay. Okay. Q1 preliminary numbers, how many SKUs were sold can be nice? Okay.

I can't give you the preliminary numbers on this live stream. We would have to come out with a press release.

How is the solution for SKUs on Shopify? How is it better than the competition? What's the difference with your technology?

So a couple of ways there are differences are -- so first of all, our competitors on Shopify don't make 3D models. What they do is they offer you either a configurator or they offer you a visualizer or they offer you some piece of technology for 3D models. We're the end-to-end solution, the only end-to-end solution. We make the 3D model, we host the 3D model. We have the configurator. We have the animations, we have the hotspots, we have everything that you would ever dream of as an e-comm site, end-to-end, one solution, one supplier, that is our competitive edge. Not to mention the fact that we offer the ability for you to buy your 3D models instead of one at a time in blocks of 25 and 50 and 100, where we basically are financing the purchase of your 3D model. So instead of paying us, let's say, $150 or $200 for a model, we say, pay us $10 per month, per model. How many do you want? And it doesn't -- I mean obviously, it cost us more than $10. What we're saying, sign a 12-month contract and we'll finance. And what we believe will happen is that there's going to be a renewal, that there's an auto renew after 12 months. So it's a very sticky technology after 12 months, they're not canceling. And so the idea is, is that 12 months turns into 24 months, turns into 36 months and on and on. And so we see this as a mega trend, which means it's never going to -- it's not going to end in my lifetime.

Some people are worried about dilution. Okay. So a question from [ Sayeed ]. How is your balance sheet? How much cash? How much debt? When will you need to raise more money?

Yes. So we don't need to raise money in 2022. We did our capital raise in January. We had over $11 million -- I think we had $15 million, I think, at the beginning of the year. So the idea is, is that 2022, we have no debt to service. We have -- we just have to build our revenue. That's the focus.

Okay. On that note, Evan, what -- like what's -- give us kind of like what's your vision for NexTech, like what is this company going to look like 2 years from now based on kind of what you -- where do you see this in terms of where are you going to be in the scheme of things with the metaverse, e-commerce, NASDAQ, what is this going to look like?

I mean, if I look into my crystal ball and I try and look into the future, I see us generating an enormous amount of profit and cash flow off of our 3D models that are in market. I see NASDAQ as being like just one of these things in the rear view that we talk about. Like can you believe that NASDAQ was such a big deal for so long. And now it's just like a whatever, yes, we're on NASDAQ kind of thing. It's done deal again. And I feel like all of our technology is going to be this one-stop shop end-to-end solution for e-comm sites where there really won't be any competition. I believe that we are going to be the one and only. Just like when you look at Google, they dominate search. There's no real competition. You can call it monopoly if you want. But I believe that we can dominate this market. And I believe that's going to happen. I believe that we're set up for that to happen. That's what I'm setting the company up for, to be the dominant 3D model supplier for the e-commerce industry. And it really is a 360 view, meaning right now, we're talking about 3D models. Maybe we'll do another live stream, and we'll talk about our metaverse solutions, which is -- has the spatial mapping where we can import the 3D models into a spatial map, which is the metaverse, import our human holograms into the spatial map, talk about how we could have the brick-and-mortar stores spatially mapped and have 3D models, human holograms that we've created for their online store populate inside of the brick-and-mortar store and how we are going to also own the stadiums and the museums and the university campuses by being able to create these immersive spatial maps that kind of all tie back to creating 3D models, you have to be able to populate the metaverse with these 3D models, but we don't stop there. We're actually also going to map the metaverse. We have that technology. We're rolling it out this month, and we could talk about it next time.

How big is the deal with Canadian restaurants creating their mini metaverse? What -- can you explain what this question is about?

Yes. It's a multiyear deal that is worth over $500,000. It's pretty big. We think in the end, it will be worth 7 figures, a couple of million, but it's a significant deal.

Okay. And what exactly are you doing with them? What is -- it's a...

Restaurants Canada is an association up in Canada. They have like 30,000 -- all the restaurants in Canada are part of Restaurants Canada, and we are their metaverse solution provider where their marketplace, we are their virtual event software platform, we are even their live event platform. So it's -- we're very, very deep, deeply connected to Restaurants Canada.

Okay. Let's kind of wrap up, two last questions here. What kind of news flow can we expect? I mean, the one thing I got to say is NexTech has never let investors down when it comes to news. I mean there's always -- it's like it is always something going on. What can we expect over the next, like, 4 to 6 weeks?

Massive news, Jack, massive. Floodgates are going to open. It's just going to -- every day, another press release. No, I'm kidding, no kidding. We're going to report the news, as we always do. We do have a lot of pent-up news. April is going to be a very big month for NexTech. We have a tremendous amount of product launches where we've been building and building and building, and it's all coming to market in April and May and June. So the next 3 months actually are going to be very revealing for our investors about everything that we've been up to and everything that we've been building. So it's an exciting time, for sure.

Okay. Interesting. I mean you used the word revealing, which I think is -- it's really interesting because one of the things -- when I say news flow, news -- I'm always like always pushing companies to put out news, and I think it's the most important thing. But here's what it's about, really, it's about transparency. It's just because if you're an investor in a company, right? Because basically, you're a partner in a business. It's like -- you're a partner in a business, you want to know what's going on. You just want to know what's going on. Once a week -- I mean, normally, somebody -- let's say somebody is a partner in a pizza shop. Yes, they might call the guy and say, hey, what's going on this week? What's selling? what's -- who came into the store on Thursday, whatever it is, that's what people do, right? And I think it is -- for companies, every company has enough things going on. If they have -- I mean, if a company is halfway legitimate, if they're in business, they've got to have enough things to talk about. They have developments all the time, right? So why don't they put out news and let people know what's going on to create that level of transparency. I don't know. I think because it does require work, it takes effort to do it. I don't know what the answer is. But the fact is, I know for a fact that investors -- they appreciate having that transparency to know what is the company doing? What are all the growth initiatives? And again, you have multiple growth initiatives in the company. and it's very helpful for people to have some clarity into what's going on, and it's extremely important. So I think -- and that's going to be one of the reasons -- I mean, again, the more transparency you have, the more people can value the stock and can see the possibilities. And that's why I think this thing has this clear road map to 10x and beyond. Last question, favorite question we ask on Wall Street Reporter, I haven't asked you this in a long time. Top 3 reasons, in your opinion, why investors should consider NexTech today, as of right now. How would you answer that question as based on your investor background?

So obviously, our share price is at multiyear lows. So you're getting in at the bottom, not at the top, so that would be one major, major consideration. Number two, as mentioned, we're capitalized. We don't need to go to market to raise additional funds. So that's a big deal for a small cap investor, small cap. And the third and most important is that it's game on for the 3D modeling industry. It's game on. The industry has awoken to or -- or awaken to the fact that 3D models of the future for e-comm, NexTech is the supplier of the 3D models. Hey, when you have sales calls, which I'm on all time now, and the buyers are asking, hey, they're not asking price, nothing how cheap. They're seeing how fast. How fast and how many can you make? We need them now, and they have to be super high quality. Those are the 3 things: high-quality, fast. We don't want to wait a year, 2 years for 3D models. How fast, how many and we could we get super high quality? So when you think about that, Jack, as an investor, that's -- to me, that's what you want to invest in, like when...

When somebody has that quality problem.

Yes. When someone's being asked, like, can you just deliver? I mean, it doesn't matter if you're talking pizzas, automobiles, microcomputer chips, 3D models. How many and how best can you deliver? That's what we're being asked. And so that's the problem that we're wrestling with now is that the demand is exceeding the supply. So we're trying to essentially deliver, and we're trying to deliver these photorealistic, super high-quality 3D models, which is also critical. So that's kind of the story.

Okay. And then thank you for the update. We're going to catch up probably in a week. We're going to go through like a formal slide show, we're going to go through all the numbers, formal due diligence opportunities for investors. Again, thank you. Thank you, everybody, for joining us, and we'll see you all on the next one.

Thank you, Jack.