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

Okay. Welcome, everybody, to Wall Street Reporter's NEXT SUPER STOCK Livestream June 23. We are back with NexTech NEXC.F. Of course, the whole idea of our program is we bring you those stocks which are the 10x to 100x upside potential, so companies going after a massive multibillion-dollar market opportunities at a key inflection point and with multiple catalysts in place to ignite that shareholder value. So with that said, Evan, welcome back.

Thanks, Jack. Great to be back.

Absolutely. So there is -- the reason we have you back -- so I mean, you were just on, it was 10 days ago, not even 2 weeks. But the reason is, look, in -- just in the last 7 to 10 days, there's been a massive increase in investor interest in NexTech. It's almost like early 2020 happening all over again. The volume is exploding. The stock is up 70 -- I think it was up almost 75% just in the past couple of days. I mean it's almost doubled. And I think because invest -- the story of the transformation of NexTech is really starting to resonate. I think apparently, the market likes what it's starting to see right now. So let's -- the idea today is want to get the details on the big things ahead.

Yes. I mean we've been working really, really hard as a company to create value for shareholders. That's always been the focus. We recently announced that we're essentially pulling the cash out of our e-comm business and reinvesting, doubling down in our ARitize 3D and our CAD to POLY. And also, we announced the spinout of our metaverse platform, which is ARway. And so I think those things combined really position us for this Web 3.0 that's happening globally happening. That's really the next mega trend where we saw NFTs and blockchain explode in -- starting 2019, 2020. It really went into overdrive 2021. And those technologies are just forming. Our technology is built on the back of a lot of the tech that's out there, that's just coming to the market, whether it's Apple's ARKit, our -- Google's ARCore and even Microsoft's Anchors. We are building our next-generation tech off of big tech's platforms that they've launched. And it really is opening up a massive opportunity for NexTech and obviously for investors to take advantage of really this pivot that's happening. I don't think pivot is really even the right word.

Paradigm shift.

Paradigm shift. Yes.

And it's not...

It's small compared to a paradigm shift.

It's -- the crazy thing is it's not even an exaggeration. This Web 3 thing, because originally, we refer to it as metaverse. It's really one -- it's really kind of all related. But this Web 3 is really going to be -- it's sort of like I think big -- I don't know if it's bigger than the original dotcom boom, but definitely, it's big as the explosion of social media. Remember in 2008, right, or -- when did this Twitter, Facebook really start to scale? 2008, roughly?

Yes. Cloud computing.

Cloud. Okay.

Right, as...

AWS, Amazon Web, yes.

Yes, Microsoft's cloud computing, AWS, those who have really driven this transformation. 5G is also a piece of that puzzle. AI, ML, all those technologies are converging. And they're all -- and I talked about this, really, starting in 2019. But it's actually now...

I remember the first presentation, you talked about this. And I was like, what is this -- I didn't even know what AR was. That was like, I mean, a vague, I know VR...

Yes. Back then -- the metaverse today, back then, I was calling the fourth industrial revolution, that I was calling it. And now just this metaverse kind of thing that everybody talks about. But NexTech is uniquely positioned to benefit from all this new tech. And when you look at the metaverse, it was just a little thing that came up that said, Lowe's is now getting into, yes. So NexTech is at the forefront of all of these new technologies, whether it's 3D models and augmented reality experiences for e-commerce, the metaverse which Paul Duffy is going to speak to in a minute, which is our newest technology platform. It's now being commercialized and brought to market so that we can start to see that generating revenue. The maps augmented reality, wayfinding, I mean these are transformational technologies, paradigm shifts, whatever you want to call it. They're very, very big in terms of market opportunity. And NexTech -- I mean, our market cap now even after we went up 70%, it's only like $50 million. It's tiny. It's a drop in the bucket when you think about the massive opportunity, which is in the many -- it's hundreds of billions, and some people will even go and say it's in the trillions. And all we need to do is really get our -- a niche and really define...

But the most important thing is it start to scale now. And we're going to get into this, yes, the clients, the blue-chip brands are really getting on board, what you're doing with Web 3, the 3D models. I just realized something, Evan, like you mentioned cloud computing. But we don't even talk about cloud computing because we've sort of gotten -- so the cloud computing thing is like, it's -- is the business, I don't know, is it 500? I don't know, is that a $1 trillion business?

Yes. It's huge.

But it becomes so huge, and we take it for granted. But the cloud computing, which didn't exist, I don't think it existed 10 years ago, right, or 8 years.

Yes, it just exists.

It was like it was very early. But all of sudden, now it's a -- the whole thing runs on cloud, right? And the same -- that's actually, I think, a great metaphor for how the -- what you're doing with the 3D models is going to impact e-commerce. Because right now, people are so used to the flat 3D images. But now -- well, they have the flat JPEG images. But now when they go to the 3D, which is what you're doing and once this goes on all these sites, it becomes like everybody is going to have to -- everybody is going to have to do it because once you see some of the big leaders to really start to lean in on the 3D stage, [indiscernible] they're going to have to -- in order to compete, they're going to have to...

We're already leaning in. There's no -- the train has left the station, right? So we talked about this on our last, I think, show with you that Amazon just came out with a virtual try-on for shoes that Amazon is now all in on 3D modeling, that Amazon is all in an augmented reality. Everybody that's watching this needs to understand that the market leaders lead the market, right? And so if Amazon is doing it, everybody is going to be doing it. It's not like Jack and Evan are saying this is what we believe. No, no, no, it's way beyond Jack and Evan. This is just us communicating to investing public that this is happening. That's why NexTech is in this business. It's not just Amazon. It's Target. It's Kohl's. It's Shopify. It's Crate & Barrel. It's Walmart. It Lowe's. They're all in it. And when they're all in it, that's the top layer, right? These are all the biggest players. Everybody else is forced into it. They have no choice. It's like a new bat comes out in baseball and...

It's arms race. It's an arms race.

Yes, it's arms race. Yankees use the bat. All of a sudden, they're hitting more home runs than everybody else. You know that whoever is making that bat, everybody getting phone calls from every sports team. I'll even use like steroids as an example. I mean...

Or the sneakers instead of the steroids, the shoe.

Yes. The sneakers, right, is that once you see the leaders wear a certain uniform, a certain equipment or, in this case, technology take hold from the big tech companies, and let's be clear on this, they have been working at this for years. This isn't like half-baked, oh, they're going to do it today and then stop tomorrow. No, no, no. They've been at this testing, testing, testing. The ROI is there. The conversion rate goes up 93%. The returns go down 40%. That is driving the massive adoption. And make no mistake about it, it's a massive, massive shift. And what we're building at NexTech is automation, AI, ML-driven model creation. And the model creation piece is only one part of it. The other part of it is you're going to have high-quality models. So QA is a big piece, quality assurance. The models have to be essentially picture perfect.

And I think, Evan, the big thing, I think, just is -- the key is to be able to do this at scale. So if you have -- and this is why NexTech is right at the epicenter because from what I understand is basically, you're the only game in town when it comes to doing 3D models at scale.

Yes. It's not just that. It's the 3D models at scale, but there's a lot to this tech. It's an end-to-end solution. It's creating the 3D models, but then you have to integrate with other people's websites, with other platforms. You have to be able to track and measure the interaction, the click-through rate, the add-to-cart. There's a lot of tech built into our tech. So the 3D models is really just the tip of the iceberg. That's just -- that gets you in the game. But there's a lot -- all these big players that we deal with, they have a lot of needs and a lot of demands, and we are meeting them. And that's kind of positioning us for this next generation of growth, this transformation from a 2D to a 3D world. And it doesn't end. 3D models are really just the gateway product, right, to get you into the metaverse. Then it becomes, okay, what can you do with your 3D model? The e-comm shopping experience, to be honest with you, is probably the lowest rung on the ladder. It's the simplest use case. But I think once you -- investors start to understand all the different use cases in the metaverse for the 3D models, they'll start to understand the value of what we are building here, it doesn't end with e-comm. That's the beginning. And once we build the model, the use cases are going to continue to increase. The value of that model is going to continue to increase, and the value of our platform is going to continue to increase. And that's really why these 3D models are so important to us and so [ valuable ] to us. And we don't sell them. We essentially license them. We own these 3D models, and we license them to our customers and then we get recurring revenue, that SaaS revenue that you spoke about. And if they want to take the same 3D model that we created for them, and let's say, they have a Shopify store, for instance, Jack. And they pay us, let's say, $15 per month per model. And then we say to them, "Hey, would you like to move to, let's say, Amazon?" And now all of a sudden, they could pay us another $15 per month per [ model ].

It's per platform. It's per platform that they're on they're paying?

It's essentially per platform. Let's say they're going to use it in our metaverse creation app like ARway, they would have to pay again, right? Like these are completely separate platforms. I mean you're on the web. These are -- if you're on the web, that's one platform. The web is essentially a platform, let's call it. But if you're on Amazon, that's a walled garden [ within the web ], right? That's a marketplace, completely different. It's a completely different business model, completely different. And it's actually a different tech to do that. And if you want to put it in the metaverse, right, in a spatial map, it's different tech again, right? So it's not like that one model we get paid for once, and that's it. No, we own the models. And wherever you want to take it, you want to take it into a different platform, a different walled garden, you're going to pay plus -- you're going to pay us again and again. And so there's an enormous amount of leverage that we're building into our business. And these things take time. It's not...

It's global. It's like a -- and here's the thing, I think it's We've got a lot of new people coming into the story right now, so I want to kind of get into kind of a recap of some of the key milestones that you've achieved in the last months, which are the setup for what's going to be in the next 6 months. And then we're going to talk about some of the 3 -- kind of 3 parts of the story. I think it's -- the big thing, which is undeniable right now, is that this thing you're talking about, the snowball, like it's really -- like people were watching the news flow in the last week, they're seeing, it's accelerating. There's more and more brands coming in to the 3D -- the NexTech's 3D models. It's like -- and there's a pipeline. Can you talk about -- because I think that's the thing people need to understand. You really build -- the pipeline of new business is like really growing dramatically, which is going to -- and that's not -- the real money is not going to kick in probably for, I don't know how long it -- it takes them a while to try that.

Yes. We have -- right now, we probably have 30 quotes that are out for signature at any given time. So if you think about that as a startup, so we're signing up deals, but we have like 30 quotes that are out there, right? So that means we've demoed the tech. They've demoed it. I mean the customer has played with it. They've asked questions back and forth with our sales guys. We typically create like a sample model for them, so they can see the quality of their product. We typically do that. After all that, they say, "Okay, how much will it cost us for 50 models, 100 models, whatever it is, 25 models, and a quote goes out. Those quotes were waiting for signatures, right? But this is an ongoing -- this is our pipeline, right? So we build that pipe. There's always quotes out there. Right now, there's about 30 of them, which is substantial. That's a lot of quotes. And again, this is still the early days. This is just the beginning. This is really just unique for us.

It's like the cloud computing in 2010.

What's also interesting, again, as we've mentioned, as we're getting repeat orders. We get a lot of, I would say, accolades. Our team is amazing, meaning customer service. We offer white-glove service, which really keeps our customers happy and coming back. And so it's just getting started, Jack. It's an exciting time. Our sales guys are excited. And really, from my perspective, it's really about, like you mentioned earlier, our ability to scale, right? So how do you scale? How do you produce not 1,000 models per month or 10,000 models? How do you do 100,000 models in a month? That's a lot of production. And that's something like plastic parts in the factory, boom, boom, boom. No, we're talking about having 3 -- 100,000 models in a month. And so if you think about that, that's a massive amount of models. The only way to get there is automation. The only way to get there is through AI. And we have that tech in-house. We are still perfecting it. Our CTO, Nima, is working on that. And we think that by the end of the year, we will be able to have a fully-formed platform that can scale at a level that nobody has seen before and nobody can compete with. It's still -- we're building, building, building up towards that, but it's coming. We're locked in and the customers are lining up. So in my mind, it literally is inevitable. It's just a question of time.

So we got a bunch of questions coming out. I want to get into the audience question because that's really the key thing. And also, we have a special guest coming in, who's going to -- I want to keep it a surprise. I want to keep it a surprise. But we do have a special guest, and we have audience questions. So basically, let's kind of recap because we got a lot of new people coming in right now and probably in the next weeks ahead. So when they watch this video, I want them to really understand what's going on here. So there's really, let's talk about this. So there's really 3 stories inside of NexTech. You have -- it's not just the transformation story, which people kind of see on the surface. There's really 3 big stories. So number one is the acceleration of the Web 3 business, which is the more e-commerce brands coming onboard by the week. I mean it's to really start to snowball every week more and more. We're seeing this. This is what you've been talking about. And that's going to be -- I think people are really going to, I think, notice this probably the next 3 or 4 months. And then it's going to -- like once we see the revenues from that like really like show up in a big way that's going to make a big impact, I think that's a big catalyst. Also, the other thing is, apparently, the market really likes the fact that NexTech is exiting that legacy e-comm business to become a pure-play Web 3 company with a bigger -- the big margins, the big SaaS, Web 3 margins. Geez, I'm thinking you should have done this a year ago.

No. No.

I mean probably the more -- it's like the stock -- the market loves us.

Timing is everything, Jack, right? And it wasn't time. I mean we had to perfect our technology. You remember, we were using it as a sandbox. We were testing, testing, testing. We were really understanding the customer journey. We essentially have the inside information on how e-comm businesses operate.

Yes, this is the thing. Yes, yes. This is secret ingredient.

That's the secret.

That is going to be edge for NexTech. And this is the key thing now.

Yes. And so we've learned as much as we could. As discussed, there's a lot of supply chain issues. We can't even restock. And it was kind of like, okay, our existing -- our 3D modeling business is taking off. The e-comm business is starting to struggle. Now is the time to just kind of suck the capital out of the inventory that we have left. We invest that into our highly scalable, fast-growing metaverse suite of products and spin out ARway and off we go. I mean I feel great.

I think it's a genius move because, look, I don't think people really understood it all this time. But apparently now, I think also on the real, oh, s*** this is -- so basically, you were using that e-comm business essentially in a way where you can go to big brands and say, "Look, we're not just a tech company selling you a service. We also -- we eat our own cooking. We're doing this, we can sell it like a mundane stuff like vacuums and this pet stuff whatever. We're using this to drive sales. And we're doing, yes, what, is it $20 million, $30 million in revenues. That's not a joke, right? So -- but it's -- the problem is the low-margin business, which we have people e-comm, especially in that area, so you're getting rid of it, that's great. And now number three, the big -- other big thing which people are starting to realize, which I don't think anybody kind of understands quite the extent of how big this is, you've been hinting at it is really unleashing the built-in value inside of the NexTech technology assets. So these value-creation catalysts are in the stock right now. And only one of them is just announced, which is the spin-out of the Maps -- the AR Maps business, which is monetizing the metaverse and that we're going to be talking about more, right? And I think you mentioned on one of the live shows that potentially, there's $1 billion of value to be unleashed?

Yes, I believe there is. I think our tech -- look, we just talked about it. The CAD to POLY technology. The ability to create 100,000 models in a month or more, that's worth $1 billion. That is a monster. That is something we're building, that we're developing. The ARway acquisition that we made over the summer, we're spinning out now. I mean there's an enormous amount of value in that. I'm not going to put a number on it, but let's just say that the competitors, which would be Niantic, their value is $3 billion. So -- and our tech is toe-to-toe head-to-head as good. I'll let Paul really speak to comparing it to other platforms in the market. And that's a very disruptive spatial computing technology that we are bringing to market. And none of this, none of this is even predicated on the AR glasses coming out which is another catalyst.

We've forgotten little about it. We haven't talked about this like forever.

It hasn't happened yet. We've talked about it in the past, but it is coming. And when that comes, we will be perfectly positioned. Our technologies value will only go up. And so when I say $1 billion in value, I really mean it. I think that there is that much value locked inside of NexTech. We need to unlock it. We need to build that value, but it's there. It's not like I got to go out and acquire another company. It's here. And so we just need to develop the tech, bring it to market, create that opportunity in the market and that the $1 billion, in my opinion, will show up in value. And so it's not like I'm saying that we're sitting on $1 billion worth of gold. Well, maybe I am saying it. It's kind of like gold. You got to go in and mine it, but it's sitting there. And so it's kind of like that.

How different -- Actually, look, you mentioned Niantic as a comp. So they have a $3 billion valuation, right? What do they do -- like are they doing the same exact business? Or what do they do in terms of -- like how -- you're trying to get a sense of like...

So from a revenue standpoint, they're still living off of their legacy business, Pokemon Go, right? So Niantic is still living off of that. So a lot of that valuation is tied to that. But if you go back and you look at Pokemon Go, it's the same spatial mapping, spatial computing tech that we now have built. And so while they're living off of that legacy tech, they've now upgraded their platform for the metaverse. They're now getting ready or maybe they're in market now with their Lightship platform. They acquired one of our competitors, almost a direct competitor, a company by the name of 8th Wall. They just acquired 8th Wall literally a couple of months ago. And so...

How much? How much? Do you know what was the value?

It was a private transaction, so I don't know how much. But I've heard it's $100 million kind of range. So -- but if you think about it, Jack, think about what I'm saying, here's a company worth $3 billion. NexTech has -- 8th Wall, they just acquired, similar company to our metaverse suite, 3D modeling and human hologram platform. Then you have spatial computing. Again, similar. We're worth $50 million.

Right now. Right now. It's the market capital.

Yes, yes. So they're worth $3 billion. We're worth $50 million. The race is on. Obviously, we have to play catch up. Right? They're way ahead of us. They just raised $300 million, so they have a war chest. So they're the bigger player in the market. But the thing is, historically, they have focused exclusively on gaming. And so we're not focused on that. And just to be clear, the opportunity is massive. There's enough room for 2 players.

Well, your focus is the e-com business. Basically, the Web 3 for e-com.

Yes, that's on the 3D model.

You're talking about the spatial mapping, which is the AR Maps business. The monetizing the -- Okay, that's the thing which Paul is going to be talking about. Okay. Okay. Okay, so I was referring to like the 3D model business like in terms of competitors', like purists in that space, valuation.

Yes, just entered the space. There really aren't many competitors. There's like 2 or 3 companies, but they really don't have an end-to-end solution. And they don't have the secret weapon, the CAD to POLY. They do not have the ability to scale the production of 3D models.

You know what's interesting, I just clicked, I don't know why I didn't get it before, but so the spinout, the AR Maps spinout, that is -- actually, it's the direct -- I don't want to say direct, but a pretty good comp is Niantic.

I would say -- I mean, I will let Paul speak -- There's a few, yes, I would say yes, that's...

That is going to be -- I think it's going to be very interesting for the market when the stock spins out because that's going to be like a pure, pure play on that kind of monetizing the metaverse. And it's really interesting what he's doing there. Well, I think the other thing is, this is not the only potential spinout. I think you've kind of hinted that there's other technologies in-house. NexTech has always been very kind of like -- I think what's exciting about the company is that you're always willing to take a chance on new tech. It's like -- that is the true business of technologies is to constantly innovate, take chances, take risks with new things. Some things work. Some don't. Something really connect, it could be hundreds of billions of dollars. I mean really, I mean, it's the more risk you take, the big -- at some point this is...

It's risk/reward. It's risk/reward. I mean in a lot of ways, I've taken a BC approach. When you think about the spin-out, ARway is going to be the template. But there is a plan to do additional spinouts to create value for shareholders. And so I'm still working on it. But the key is that we want ARway to be a success, which I think it will be because it's going to launch with a market cap of less than CAD 10 million.

Oh, it's a worth a dollar. That's like...

It's going to be like...

U.S., that's or a...

It's $78 million. And so whoever gets in, like, again, all the NexTech shareholders that own NexTech stock will get 3 shares in the spin-out ARway. And with such a low market cap, you can see a dramatic, dramatic return. I mean for it to go from, let's say, to equal the NexTech market cap, that means that stock would go up 500%, 600%.

It could eclipse. I think -- actually, I have another word there.

I really don't know.

It could eclipse NexTech because it's just a new thing. And it's much easier for the thing to move like...

Well, here's thing, when you say eclipse NexTech, let's be clear...

Valuation wise.

NexTech is going to be the single largest shareholder it's been.

Right. I mean like in terms of the first, let's call it, a couple of months.

So think about like this, if the valuation of that goes to let's just...

Let's say $100 million, let's say $100 million, just for [indiscernible].

Let's say $100 million, NexTech's value just based on that will be its current market cap, which is like $50 million. So our market cap will be something like half, whatever that goes. If that goes to $1 billion market cap.

Add a plus plus so if it's $50 million.

In the shares, just in the common stock that we'll own, our market cap could be -- if that's $1 billion, we'll give $500 million, let's say, in our -- of the value of our stock. Nothing to do with ARitize 3D in the business.

Yes. I think also you...

Jack, I just want to make a point here is that the more successful ARway is, the more inclined I'm going to be to do more spinouts, right? Because if our valuation goes up on the spin out, I'm going to just be like, okay, that's a great formula for continuing to increase the value of our stock to our shareholders where they continue to get spin-out shares for free. I mean I love this business model. I mean think about it, you own 1 stock and you keep getting more shares for free.

It's the unicorn laying the more unicorn eggs.

In more spin-outs that it's like it never stops to give you a return on your investment that you -- you buy our stock today at $0.50, some of these spinouts can be worth more than our current share price rate. And so from my perspective, as an investor, if I'm an investor, I love -- and I am an investor, right? I'm the biggest investor in NexTech. I love the fact that I'm going to get spinout shares. And I want all of our investors to get spinout shares and...

And we should also add, originally NexTech...

Was a spinout.

Was a spinout, which somebody -- if people -- I mean could that be a potential premium to the future because NexTech was a spinout. I think it started trading like, was it, CAD 0.25?

CAD 0.25. CAD 0.25. Yes.

CAD 0.25, Canadian? Canadian, right? Canadian or...

This is a template. This is a template. When I spun out NexTech from the previous company, it was the exact same structure.

Okay. So basically people have got the NexTech shares at CAD 0.25, which went to $10, right?

Yes.

Right, I think $10 and a few cents, right, $10 within 2 years, 2 years of that, right? So that was like a 40 -- was that a 40x?

70x.

70x. 70x. 70x. And now it's happened again. So I mean I don't want to sound too promotional because we don't want to like -- because it's a Canadian -- yes, because of the Canadian regulation. But the reality is this, the reality is there's value to be unlocked. And we know for a fact that, look, when you have strong comps like you have with this Niantic, other companies, if stock starts at a $5 million market cap, there was a sort of, I want to say a vacuum, but there's an easy path for new companies to -- once they pop out of the gate -- we've seen in the past they go up 10x plus.

They closed the valuation gap.

Valuation, right.

That's what ends up happening.

The valuation gap, yes.

I think, Jack, what we're leading up to is bringing in our next guest because we're really talking about his company. Paul Duffy is going to be the CEO of the spinout. I'm going to be Chairman. And there's going to be an enormous amount of excitement, I think, in the market and especially by customer. Customers are excited, and I'll let Paul speak to that.

Okay. So okay. So let's bring our special guest on. And then we're going to come back for Q&A. We get a lot of audience questions. So let's get Paul, okay, special guest. Paul Duffy, welcome.

Hey, guys. How are you doing?

Paul, Thank you for waiting. We've got..

How much time do you want me to take up here?

As much as you need.

I'm sorry, Paul. Jack likes to talk a lot.

I apologize.

No, I'm kidding.

It's no problem. No problem. Why don't we do this and listening to everything you're talking about, we've definitely put a stake in the ground and are attracting some unbelievable interest. I know we've been on a few earlier presentations talking about early adopter programs, that's really what I'm referring to. And I'd like to, if you could, give you a few minutes just to talk about the market. I'll share my screen, bring up a quick deck. And then I want to really illustrate why we're getting the traction that we're getting right now because I think you'll see it. Can you see the screen okay?

Yes. Okay. I see -- okay, I see you just want to go to a full slide, full screen, full whatever. All disappear.

Okay. So we're good. Okay. So I shared this slide in one of our first introductions, but this is super critical because it speaks to how we are going to literally disrupt this market. What you're looking at here is the technologies that are being used currently inside what they refer to as the PLAN market. That's the positioning, localization and navigation market. And this is for indoor navigation. So these are sporting venues, hospitals, airports, shopping malls, all forms of retail. We talked earlier -- you guys talked a little bit earlier about retail, museums, exhibits and even trade shows. And today, there's roughly about, I'll just call it loosely, $30 billion being spent on a variety of very expensive and difficult technologies. They really do nothing more than provide navigation or wayfinding indoors. And of course, what's really exciting about all this is because we become so used to Google Maps, Apple Maps, Waze and other smartphone-enabled mapping, we don't even think about it anymore. We just bring up a map and it guides us. And so when we looked at our technology and how it could fit specifically into this segment, it became very clear that we could totally disrupt this space. Our platform which is an app, a web portal and an SDK, it's a complete no-code spatial computing platform for the real-world metaverse, allows any operator of a property with no capital expense, 0, to go in and literally turn their existing airspace into, for lack of a better term, a rental opportunity. And it sounds a bit nutty, but bear with me. You can go in and you can use your smartphone to create a spatial point cloud. You can put it on to our web studio, happens automatically. You can then create all the locations and touring and navigations that all of those prior technologies showed you. But you can do it at roughly 1/100 of the cost. So the fact that there's 0 upfront hardware installation and no need to maintain that hardware is just at the beginning an amazing opportunity for us. That's why we're getting so much interest in so many early adopters. But the truth it is that's just the start, and this is why we will dominate this market. When you think about the fact that you can go in now and create a spatial point cloud within a property space, first of all, the wayfinding is helpful for the natural outcome of leading you to where you want to go. But what do property owners want, more times than not, they want the rental space or they want to make money within the confines of their building. And so in the world of spatial computing and the metaverse, we can add forms of 3D interactions, sponsorship, banner activations and all forms of AR in reality. So we take our ARitize 3D capability weeded now into the metaverse, and we can provide a full-on opportunity to monetize that airspace. And then the final piece in all of this is that we're able to use location intelligence and analytics to better understand how to serve that market. And so we have literally just been sort of softly introducing this. Remember, NexTech has hundreds of clients in the 3D/AR world. We also have hundreds within the events and trade show space. So it's easy for us to reach out to our existing customer base and socialize and gain insights into this. So we've been doing that for quite a while, and it's worked out phenomenally well. But what we landed on is a totally disruptive technology into a market that, at the moment, has nothing to really compare with. So we can produce the meta maps, we can produce the spatials and we can produce the location intelligence and the analytics from this whole piece. So how big is this market? Jack, if you think about it right now, our buyers are the operators of the properties that you see here. So you've got everything from retail to stadiums, to museums, to hospitals, casinos, cruise ships, et cetera, all the way down the line. Our pricing model and the way we step into this is it's a freemium to start and you move up the grade to premium. And at an average price point of about $15,000 per annum, we've easily got over 1 million ideal customer profiles that we can target. And so that's literally where we're starting, and it's getting super exciting for us. So let me just give you a quick example. Can you guys here me okay? Still gone? Can you go with yes?

Paul, we hear you, yes.

Okay. Good. Sorry, guys. If you look out at the back, the buildings behind me, this is -- this building literally right behind our office. You go to their website, you can see this floor plan. Our technology will allow you to go into their space and walk through their environment and actually take a complete video scan of their lobby. So on the left, you can see it. It will produce a 3-dimensional point club, these green dots that you're seeing. And this, you can do right now to take our app, download it, walk into any location and make a spatial map. As you're making that map, it's ingesting in our web studio. And that web studio will create a visualization of what I'm basically capturing right here. Once I've got that, I can take a floor plan like I just copied from their website, I can put it into our studio, and I could lay these point clouds over top of it. I can then take that studio and I can walk. All these orange pins represent locations that are available. So this is basically us completely disrupting the need for Bluetooth or RFIDs and all those other cacophony technologies. And then if I really want to, I can sit there and I can put together a tour. I can start at this store, and I can literally drag over an end spot to here. I can give it a name, let's say, shopping and dining. And then I can go in and I can add along that tour any type of content that I want. And then when I'm done, I can press a button, and it will basically publish an experience. And I just want to remind everybody, this was done yesterday in about an hour. And there was no coding involved. So this is Hannah. She works with us. She's coming into this environment. She's placing spatially a 3D module. She's walking into where you guys saw that start point. She's picking, in this case, Jacked Up Coffee, one of the coffee shops in the mall. She's selecting it. And now Pat will come up. We've anchored a little hologram to show and say hi. And on her way, it's facially anchored. You can see some of our 3D content there, and it's going to guide her right over to the coffee shop. And oftentimes, what we're seeing here is that our users are basically doing just this. They want a quick hit navigation to get them to a specific location. If we want to wayfind, so in this case, we're going to go look for shopping and dining, we can basically select that. It can tell us how many steps away we are. And you can see in real time that it's actually going in and collecting the number of steps it will take. You can see the other anchored objects floating around. And you can see chevrons show up to tell you to turn left, turn right, go this way. It's got all the reinforcement you need to basically guide you along that path. There's one of our 3D objects. And now as I walked through, and we have no real limit to the size of mapping and navigation that we can produce. And everything I'm showing you right now was all done without any coding, and that's a huge benefit. Even if I want to leave the physical premise, the indoor of the building, I can simply walk out and we can still anchor and publish content. Very, very simple. And so it's an incredibly powerful tool to do wayfinding, navigation and what we call spatial or AR activations in the metaverse. Very useful. The final thing I'll show you is one of the things that we are releasing is a location intelligence analytics engine. And this will come out through July as we point release our platform. But this -- when we've shown this to our early adopters, this has been a complete gold for that. We're able to basically measure and track inside their building all the activation and usage around the experience. And so we know the hotspots and heating areas of where people travel to, how much they interact, how long they spend there, what their dwell times are and this from an advertising, a branding and even just a positioning of where to place stock within their building has been a huge demand for them. So Jack, it's with these types of capabilities right out of the get-go, yes, I'll stop sharing, we could start talking, that we are seeing enormous interest right now from our early adopter market.

Well, I think, that was fascinating. I think it's important for our audience to understand that if you think about technology that goes viral or that really takes off like YouTube, Instagram or TikTok or those platforms, what is the secret ingredient? The secret ingredient is their creator platforms right? That's the thing that's -- that's a common denominator on all of them, right? Like they create even Facebook, right? That was like maybe the first big one, right? So this platform, you can't see -- you can't totally tell because you had Hannah there. But imagine the entire YouTube community, the entire TikTok community adopting this technology. That's what this is, right, it's a creator...

I get. Now I get it. Hold on a second.

A little bit, Paul.

Wait, wait, so you're saying that basically, this can scale go viral because now anybody can create their own map. Let's say, I don't know, in the museum, for example, right, in the Louvre or, I don't know, casino, whatever it is, huge spaces are places that are 100,000, 1 million square feet. People create their own tours and with their own comments, of course, that can be monetized with ads. Basically, you're doing the same thing like Google?

Yes. So think about it like this is -- and correct me if I'm wrong, Paul. So a place like a casino, you would own -- or a stadium, they would own their map, right? Like that's a walled garden, right? They would basically create an app and then the experience you have there would be curated, right? But outside of that, in the wild, anybody can create a map, right?

Yes, anybody can. What I just showed you yesterday was produced in 30 to 45 minutes. And there was no coding involved at all. The content was easily dropped in. But you noticed most of it was dropping locations and entering text. But the entire platform that we have, and this is why we think it's a phenomenal opportunity, it is truly a no-code, so you don't need to know how to cut codes. So Niantic, Matterport and all these other gaming-type environments require a pipeline of developers, creators, et cetera, here, you can build a PowerPoint presentation, you can build a real-world metaverse experience. And that's phenomenal, absolutely phenomenal. This is 0 barrier to anybody being able to create content. And then because you can go into anybody's space and use your phone to create a spatial point cloud, in theory, your TikTok, your YouTube, you could be anywhere now. And you can be beaming in and making any kind of content that you want and then making it available to your audience. Come, go here, experience it.

Somebody, let's say an influencer, let's say who's got 1 million followers, whatever it is, they can just do a tour. I mean they can just go out and walk around Midtown Manhattan, wherever, go create their own map. And of course, then later on, they can go to the different retailers and say, "Hey, do you want to be a sponsor?" Then they get like -- this is just an idea to figure out how to monetize.

That's exactly.

You can go bananas. You could be a celebrity chef, you can walk through a grocery store, curating exactly what to purchase...

And the brands can pay. Yes, like you could have, for example, like, I don't know.

So let's be clear, so you have Instagram, which -- and Facebook. Facebook has basically become, I guess, it's like families and friends to like share birthdays or, I don't know, you go on trips or whatever. That's Facebook. Instagram is kind of a mix of fashion and food. But it's eye candy, lots of pictures, and it's that. When you think of TikTok, it's purely entertainment. I mean that's it, right? It's just entertainment. This is the metaverse platform. This is your metaverse version, spatially mapped augmented reality version of those platforms where it can be used for entertainment, you certainly can. It could be used for monetizing with promotion, right, like advertisements. It could be a utility like, hey, I'm in an office building. And I want -- I have like 100 tenants, and I'm always looking to increase my rent. Well, okay, hey, if you use -- if you rent in my building, you get wayfinding to your office built into your rent, right? Like it's free.

And for malls, these massive malls, the malls, they need -- especially, they're very serious. Paul, like what you talked about the data, the analytics, they go crazy for this because that's the whole big thing is like these major operators, like whether it's Simon or whatever it is. The mall operators only care about is the analytics like because they will kick a store out of the mall if they're not producing a certain amount of revenue, right? They want to know how many people is passing. This is something that can go crazy with the malls because they really could -- this is something like right up there. How many malls are there in the world? Like -- big malls like Westfield, Simon.

You give us some insight. I know you were talking to some people in the EU. I know you were talking to some...

Yes. yes. Sure, a bunch of them.

Their early conversations where people are thinking this can go, that kind of thing.

Yes. So there's a number of them. So sporting venues, I won't disclose who, but there's a number of large sporting venue operators that are in very, I'll call it, deep discussions with us right now. In the EU space.

Are they early stage, late stage or like in the middle to late stage?

They're late stage. No, no, they're late. They're well down the line. And then there's -- in the EU, that's fascinating. They've put an entire team together to study these use cases, wayfinding to the principal. And we have 5 active early adopters in that market right now.

Like football, like soccer, or whatever they call there?

No, no. These guys are typically business operator, government institutions. I'll give you a very good example. One is a health care network in Finland and a large number of hospitals. And these folks have been doing studies on how do we make traffic location flow more efficient because it takes a lot of -- believe it or not, time or money away from staff having to answer questions from aggregated patients. It is a very well-known issue within the planned market, right, the positioning, okay. There's a whole series of technologies that we put into these health care institutions to abate this problem because it's a hard cost within the...

Imagine you have nurses, doctors, you've patients, people are there, they're approaching anybody they see.

Exactly. They're anxious. You got, they're anxious. [indiscernible].

The patient is couple of minutes here. A couple of minutes there. It adds up because these people [indiscernible] are getting paid, lot of money right.

Yes. Here's the thing, Jack. When patients show up into these hospitals, they're usually there because they've got a series of tests, which require them to go to point A, point B, point C. They're usually cross multiple floors, sometimes multiple buildings. And frankly, they're there for many reasons, serious, serious issues. They've got a looming condition. They've to get tested for or they've got to go and get diagnosed. And so they're aggravated. And having -- and these countries are very mobile literate. So for them to open up a phone, click and then have it wayfind you, not a problem, 0 barrier to people of all ages being able to do that. So the economics here are substantial. There are 10s of thousands of dollars they could save immediately by people being able to wayfind through AR to their destination. It's not just one. They can go, okay, I've got a diagnostics from this lab, this lab and this lab. It's 2 hours that I'm in the hospital. It just makes that moment in time that much easier for them. These are documented. They've been studying this now. So they are very, I'll say, interested and awaiting our release in the coming weeks. And they represent just one of many that are in this space. And we've had some just great response from them. And so you'll see them. We'll develop them into case studies and chat about it over the summer here. But that's a very real, very practical. And from both an economic and a qualitative value proposition, they're solid. And more importantly, no code, fully scalable. There's no barrier, are repeatable globally, right? And it's just a perfect use case for the technology.

Exactly. Exactly. And what I would say is that this is, when you talk -- we were talking earlier about the scale, to scale 3D models and to be able to have, let's say, 100,000 models per month. So could we sign up 100,000 people? Could you make 100,000 maps in a month, is that something the platform is capable of?

Today, I would say no. Within 30 days, yes. Because we're just releasing.

I don't mean me today. I mean like within -- once it's released. Yes, once it's in the market, like is that -- it has that scale, could it do like 1 million? Is there any limit, I guess, is really what I meant?

There's no hard limit. In fact, our goal is to incrementally get us to the point where we feel internally, we're at that net, how do I say this without confusing it, Netflix level of scalability. In other words global deployment there's no real concern of where you are in the world coming in at the same time, all of that -- those issues been well thought out. I mean we've been working on this for quite a while. And that's our anticipation at our end state is that this is one of those. Just like everybody uses Google Maps and Apple Maps, this, we want to be the exact same thing inside a property.

Right, Inside of property, on a campus, wherever you go, everybody [indiscernible] use. But the directions piece is exciting, but it really, again, is just the beginning stage. It's really all these add-ons like the holograms of people, products, the advertising.

[indiscernible]

And here's the thing, Jack, and what we're building is a templatized portfolio of products that can be essentially dragged and drop into the spatial maps to make it super easy. That's why I think Paul refers to this as like the PowerPoint of spatial mapping, right, where you can -- if you go into -- if anyone's ever created a PowerPoint, all the tools are there. You're just kind of point and clicking on different pieces of it, right, to create your PowerPoint. And so if you think of it like a spatial PowerPoint experience, that gets you closer to like what this is. And if you think about the metaverse and you think about -- again, back to the glasses again.

The glasses would make this thing go -- it makes it much easier rather than having to have the full...

The glasses are coming. The glasses are coming.

You know what, I think, look, the reality is that this thing has so many uses that we don't even know how far this can go because the users were going to come for their own ideas, which are far beyond like anything like where you talk it's going to be like YouTube sort out as cat videos, right? It was cat videos initially? And then we're doing this. Nobody thought about this or there's all the other stuff, right? So it's really things have massive, massive upside. Let's get into some audience questions because you got -- we're running a little late, I just realized we got people. It's lunchtime, right? People might be -- or in the East coast, it's lunchtime at least, right? So we don't want people to leave. So okay, let's get into audience questions. Let's see if we can catch up here. Okay. So okay, let's start from the first one. Okay. This is, I guess for Evan. Lowe's just announced that you're going -- doing metaverse in their stores is that with NexTech?

So we haven't announced that we're doing business with Lowe's yet. So I can't really speak to that.

Which blue-chip clients can you discuss?

We have discussed a lot of blue-chip clients. We've discussed Crate & Barrel. We delivered 2,500 models to them. We've discussed Kohl's who have come back multiple times. They just came back again for another reorder of additional 3D models. We've also discussed Kmart Australia. They just revamped their website in Australia, and they have 500 models. They're now talking about 10xing that. So there's an enormous amount of blue-chip customers that we're working with. Some we can talk about. We did kind of mention NAPA Auto Parts. I think they're blue-chip.

Yes, it's a huge, huge company, a [ $1 billion ] company.

Yes. So they're also a happy customer. There's a lot, a lot of business that we're now tackling. And so I see the Amazon question. So Amazon is outsourcing. So they are outsourcing their 3D models. And so they're definitely working with people outside of their business, let's say.

Okay. Is NexTech's API simple enough to allow easy connectivity to your AR solutions?

I think that means to the map to ARway. So Paul, can you tackle that?

Yes. Short answer is yes. So the -- and what's good about it is that we'll have versions of this in the coming weeks to present, but you can easily tie in to our ARitize 3D studio and pull down 3D objects. In fact, some of the video that you saw with Hannah walking around the chair and that gentleman that was there were all done in the studio, and they're easily broad in place. And more to the point we can actually see who looked at it, how long they looked at it. We can add a hotspot if they want to buy it. Quite a bit of stuff that we can do within that experience natively within the, call it, the NexTech stack.

I think it's an important question because imagine Kohl's has, let's call it, 5,000 3D models with us, those 3D models can be brought into their store as part of the ARway wayfinding inside their store, they literally can put whatever 3D models they want in the aisles. If someone is going to the bathroom, they can have a hologram of one of their spokesperson, models standing there wearing some clothing or a couch or whatever. I mean all of this is going to tie together.

Can you imagine how big this could be, this maps product? Like, for example, I was just in a Home Depot like this weekend, right? I was looking at -- it's a huge store. It's impossible and people are -- you're not going to get that much help. And I think if you have this thing, you can get -- it's going to guide you to where the thing is. But meanwhile, as you're passing because it has all this data, also the sponsors' ads will bombard you with saying, "Hey, you're buying, I don't know, plumbing, oh, you need this. How about this? This would help.

Jack, that's the perfect use case to that market that I was trying to illustrate. So you go into Home Depot, they basically can, for free, try this, right, take your location that you went into. They can place pin for plumbing or outdoor, for gardening, [indiscernible] right? It costs nothing super easy to put no infrastructure into the store to do this, right? Then you walk in, you whip out the app, in this case, could be their apps, could be ours, or could be a white label, they can make up their own, and then basically, they just enter plumbing. Comes up just like you saw a Hannah there, that gives you exactly how far, how many steps, which aisle you get chevrons to wayfind all the way there. And then -- so that's just abated the whole travel issue right there, costs nothing, no CapEx, nothing, right, to do that. Then we turn it into a profit center because not only can you walk, but as you go and buy there, you could have curated experiences. You're going to have somebody ask you if they want. You could have promotions come up against product that they want to move off the shelf. There's all sorts of ways practically.

It's very -- you're really like right at that intersection of like retail, the next generation of retail and everything.

I think it's going to be very, yes, it's going to be very fundamental.

It's really going to have a massive impact on the convergence of retail, the metaverse online. It's all going to be just one thing. And you're right at that this center, which is massive. It's a multi-billion opportunity, no question.

Yes. The thing about it, Jack, which is so potent is that is it's really the combination of all of our tech which really creates the value. Like it's nice to have all these templates, yes, but there's an enormous amount of value when a retailer says, okay, we want our 3D models in this experience. And it could be a customer -- an existing customer where we just press a button and all the 3D models magically populate, or it could be a new customer and we just -- we have the capability in-house. We are the 3D model factory to make these 3D models on demand. So it's the combination of the 2 pieces of tech. I mean the spatial map is great. The wayfinding is great. But when you populate it, Paul, isn't that really where the value creation really begins at?

100%. 100%. That's why we'll completely disrupt, right? So remember, wayfinding is a cost for most -- not most almost all properties and even brands and get you to that location. Now we made that frictionless. So that's just a start. Now you can add through augmented reality and all these spatial experiences all the value. And all of a sudden, you've got click-throughs. You've got brand activations, you've got product demonstrations.

Is this going to like -- are you going to make tour guides obsolete? Because like tour guides basically their whole business, they give you information from all the stores and say, "Oh, hey, check out this. This is the best...

No, no, they're going to be our customers.

You're actually right. They're going to make their own tours.

Those influencers you talked about are going to completely magnify their audience because they're going to walk on site, make the tour and then their audience will follow their tour in that property.

They won't be selling. So think about it.

Think of these traditional influencers on Instagram.

They won't be selling. So here's the difference. Right now, tour guide is an hourly guy. Hey, how many hours can I book? How many tours can I book? Okay. there's a limit to how much he can make. The value prop here is once he digitizes or ARitizes, right, he creates this wayfinding touring experience where he turns himself into a hologram. And he's at these geolocation points along this map that he's created. Now all he does every day is sell his map to as many people as possible, right? He pays us a subscription, and he's basically selling access to his map. And now he could scale. He couldn't scale before.

I think there's huge -- I think what's going to really make this move big time is the big thing in social media is like you have all these like hot girls who are -- they're like these travel influencers. They go to these exotic places, and they do a video. And I don't know, they get kickbacks from -- they get basically a free trip because I think they make a deal with the hotel. It's a whole -- it's an epidemic right now of these travel influencers. Can you imagine once they have this, this is like the perfect thing for them because now they're saying, "Hey, here's my tour, for whatever." And however they get paid whatever, that becomes -- I mean and they're basically, they're pushing the product for you. So now you're going to have like a hot girl who's got like 5 million subscribers saying, hey, on Instagram, say, they don't have like 10 million or whatever. Like I have no subscribers. They have 100 million subscribers, right? Say, "Hey, check out my tour of Bali, whatever or my tour of, I don't know...

Maybe you need to turn yourself into a hot girl, so you could get...

I may have to. This is where the world is going.

10 million subscribers. And then Paul and I can amplify our message.

Whatever it takes for the stock. I'm here to maximize shareholder value of the stock.

Jack, it's a very good point though because if you were to try to do what you just described on Matterport or Niantic, you'd have to have gaming developers, designers, et cetera, here, just like the influencer, they know how to use YouTube, they know how to use Instagram. They take a couple of shots, they package it up, and they push it out. There's no coding involved. And this platform, and we know this because of our early adopters, the experiences are perishable. In other words, they're really only useful for a certain period of time. So they're always rebuilding and reusing it. That's the beauty of it.

And Paul, you could use this as a white-label platform and or [ SA ] right?

Yes, yes. It's a full-on platform that has an app. It has a studio, web studio for massive development and an SDK so you can create an end-to-end pipeline.

Really, I think what's going to -- and this is not a joke. I think what's really going to make this like scale and go crazy viral is when you have a couple of these like hot influencer girls doing this -- start doing this. It's going to go bananas. Yes, that's going to become...

What made you think we don't have that already?

I was going to say that. I'll leave the hot girl comment out. But the influencer, 100%.

Okay. Okay. Okay. Let's get some more questions. I hope we can cover everything here. Okay. So [ Bart ] asked, are there any -- are you planning on getting into partnerships with Meta or Snap?

In the world of spatial, I think it will be inevitable something will happen along those lines. What's interesting is, and again just within our own network, the partnership discussions that are coming at us are substantial. They're very significant. They're not with Meta nor with Snap. But I sense given the people we are talking to that will eventually occur.

By the way, this is interesting because this is like -- it's just the way the world works. Like on Twitter, there's -- we have a couple of thousand people. These girls who do trading tips, whatever it is, they have hundred thousand followers, right? So I see today, there's one of them posting with [indiscernible] she's like, she's at some like NFT convention in New York right now. She gets a 500 comments. She's like posted picture of herself so. And she said, "Oh, there's like 500 comments." We put up a thing about NexTech, we get 2 comments. Imagine -- and she's like -- I never even heard of her. She's like -- imagine her, should your thing at that convention, the NFT convention today she could be stalled the show basically.

Just a couple of things, Jack. I mean the reality is, is that everybody is going to be using this platform. Hot girls or not, doesn't really matter. It's going to be athletes. It's going to be movie stars. You're going to be able to see all...

Imagine your favorite athlete, whatever it is, at the NFL state, whatever like guy does hey, this is where my favorite place to get a beer or whatever it is. And here's where the [ merch ] is, by the way.

So our experience with the early adopters, at least with NexTech's previous technology like our ARitize 3D, if you look at 3D models, the people that have been the early adopters have been big-box retailers, right? They've been the ones who adopted early and invested early. So that's Wayfair and Kia and Target and Howards and all these big boxes. And so if you think about the people Paul speaking to, they're all big name, big-name companies and entertainment venues and things along those lines that are looking to be the first to market, the early adopters. And we haven't even really talked about maybe we'll save it for the next -- maybe we'll do a full show on NFTs and blockchain and how that lends itself to this platform because it really is a great fit for ARway as well.

Okay. Let's see if we can get -- we've got a bunch of more questions coming. Okay. So okay, people are asking us, how are you going to be able to handle like a huge influx of orders for the 3D? This is for the NexTech, the 3D modeling business. Let's say, you get the big whale, can you scale? Can you meet their demand for the 3D models they need?

So I mean we're positioning right now. We are building that capability right now. As discussed earlier, the CAD to POLY technology, which we're building will allow us to scale. So we have filed I see the patent question. We have 5 patents, 5 that have been filed.

How many 3D models can you produce in a month? This goes back to the scale?

Our -- let's put it this way, we flex up and flex down based on demand, right? So we produced as many as 3,000. But the goal -- I mean again, this is early days. The goal is to get to 10,000 and 20,000, 100,000 in a month. And to get there requires a significant amount of technology, AI and ML stuff that we're building right now. So we can't go -- I mean with our existing tech, we could probably push it to maybe 10,000 to 20,000 in a month. But that would be, let's say, driving a car at 180 miles an hour, right? You're redlining at that point. To be able to get lift-off, where you're like a jet going at Mach 3, you need jet engine, a completely different technology. It's not a car engine. You need a jet engine. We're building that now. It's not built.

Can you scale? Can you get to 100,000 a month models, correction 100,000? I think he's asking a year, 100,000 models? Or how like how fast company can you scale this, the 3D model making?

So again, a lot of it is determined by demand. But we're building our jet engine. It's not quite built yet. Right now, we have the ability to deliver on the demand like there right now we're able to deliver whatever demand that is in the market. But as that demand increases, we want to continue to be able to deliver, and that's going to happen in 2023.

Okay. Interesting point. I guess he is saying, okay, because as companies come into the pipeline will these brands testing right now, you're more and more and some of those convert into customers. So this is just constant growth. Question here, how about the share dilution down the road? I guess he's asking like, will you need to raise capital? So is it going to be dilution?

As of today, we're not raising capital. You never know in terms of what comes down the pipe. But we don't have any plans as of today to raise capital. The goal is, if you look at the spinout of ARway, it's going to be self-funded. And so as if we do more spinouts, those companies will be self-funded. We will not have to raise capital because they will be raising capital independent of NexTech. So that's kind of where we're at right now. We feel good.

Okay. Let's see here. Okay. A question about the AR glasses. I think what the guy is asking is, I think, really what he's asking is how much of a difference will that make once the AR glasses hit the market? Is that going to...

I think it's 100x, Jack. I think it's 1 of your 100xs. Like it's that big.

But literally, this -- yes.

What do you think, Paul? Do you think...

For sure. Yes. No, I mean, I don't want to put too final point on this, but Amazon is completely on. This is going to change everything. The reason for it is, you're not going like this with your phone in doing stuff. You're basically like this, tap your phone and now everything is there. And in the real world, you've got to match between the physical and the digital seamlessly. And like all tech, it'll come out a little bit at first. And then it'll whoop. And within 2 years, it'd be like I can't believe we never had this.

I just realize something. I keep using that Home Depot example.

Because that's a very good example. You put your glasses on and...

Forget about their employees. If their employees have it, then they know exactly where everything is and have time or the inventory because they can get stuff on their, I guess...

Jack, with our platform today and glasses because that's what we're shooting for. I think in earlier we're going to go where the puck is headed. That's where we're headed, right? In that analogy, that use case is perfect. The Home Depot associates will be a hologram that will probably sit outside of that building that will come into your glasses remotely through our platform, yes, right now, beam in and talk to you while you're standing and looking at holding the product. And if you need to you could tap and the product comes out of the box and materializes, and now you've got a fully assisted sales experience right from the get-go.

So things are really quick. There was a question I think I can't find it, but there was a question on how many shares somebody going to get of the spinout. So if you own 1,000 NexTech company, how many shares?

So we've previously announced that NexTech shareholders are going to get 1.6 million spinout shares of ARway for free if you own NexTech, which means if you have 1,000 shares of NexTech, you get 16 shares. Every 10,000 shares is 160 shares. So my thinking -- and that's the minimum, right? It could go up. It's possible that NexTech could issue 2 dividends. We could dividend this first piece. And then at some point in the future, we could do a second dividend. And so there's lots of opportunity for investors to participate in ARway through NexTech or through ARway directly once it starts trading.

Okay. Listen, bottom line, I think the takeaway is this, there is like -- really, like this is NexTech, you're doing Web 3.0 right now. I think this is NexTech 3.0. Where the company is going right now, it's really -- it's like you had NexTech 2019, that was like NexTech 1.0. 2020, when we had the acquisitions, that was NexTech 2.0. And now it's really -- this is the -- this is it. This is, you got the maps spinout, having the value being created. The 3D modeling businesses are really starting to accelerate. Pure play, now it's pure-play tech company margins. And that's I think the big thing. I think people are -- apparently, this is the big things. People now realize, okay, pure-play tech at the edge leading of the hottest trends, this is going to be the biggest thing. And I think the market apparently likes what they're hearing that's why the stock has been climbing. So...

Yes, yes, not just the market. So let's be clear, and then we can end it on this, is that our customers are telling us this is what they want, right? So we could sit around and pat each other on the back all day long. But at the end of the day, the fact that Kohl's keeps coming back for more, Crate & Barrel, Kmart Australia, all these big brands is amazing. And Paul's having that exact same experience. We haven't announced all the deals that Paul's lining up, but they are lining up. And so the point is, is that the customers ultimately dictate whether we're right or wrong with our predictions on the market. And I think it's fair to say, Paul, and correct me if I'm wrong, that you're getting a lot of positive feedback from customers.

Oh, yes, yes, yes.

Okay, guys. On this note, thank you for the update, and thank you, everybody, for the great questions today. It's apparent there's a lot of investor enthusiasm really start to bubble up for next. I mean to me, it feels just like November 2019 when the stock started ramping up on the way to that mega high. Let's see if lightning strikes twice. It's exciting to watch.

Yes. Remember, in 1999, I think you're right and now 2019 and now it's 2022.

And the interesting thing is all those leading-edge technologies. It was high pipe in the net, all of a sudden, it became mainstream like dotcom all of a sudden a couple of years later, Amazon was $1, whatever it was like at the bottom list. I don't know how low Amazon got, but it was like I think $5 or whatever. And then now it is $3,000, all of a sudden. People thought it was going to go out of business. There was a real talk that Amazon will be going out of business.

Well, don't forget, Apple was also...

Also, yes.

Apple was going bankrupt. So I mean don't forget Tesla was going bankrupt. And don't forget General Motors, I mean...

Tech companies, think about them, all the big -- all the hottest companies, Amazon, Tesla, Apple. I mean, Apple absolutely was left for dead. I mean, its stock was $1.

And I think the key what's the common denominator, and then again, we got to end this.

This is it. This is it. They're the big technology company.

Common denominator is transformational technology, with trying to be brought to market and develop. Amazon transformed online shopping, right? They started out with books and now you buy your underwear in there, right? And when you look at Apple, they started out with -- I remember it was like a niche platform just for graphic designer right? And now everyone has an iPhone in their pocket. It's like become ubiquitous. And what was the third one?

Amazon, Tesla.

Tesla was basically going to go out of business. Nobody thought that they could crack the code. Everybody was saying like there's no way that this upstart is going to beat out General Motors and Ford. Like there's no way on earth that, that's going to happen. And there was a huge, short position, maybe billion [indiscernible] And guess what happened? Now I'm not saying the same thing is going to happen here, but history does rhyme.

It really is very similar to all these companies -- tech companies, leading-edge stuff. All of a sudden, it becomes a reality.

So that's it. All right, Jack.

Thank you, guys.

Thanks, guys.

Thanks, everybody.