VANCOUVER, British Columbia, March 31, 2020 (GLOBE NEWSWIRE) — NexOptic Technology Corp. (“NexOptic” or the “Company”) (TSX VENTURE: NXO) (OTCQB: NXOPF) (FRANKFURT: E3O1) today introduced All Light Intelligent Imaging Solutions (ALIIS™). This new artificial intelligence technology replaces Advanced Low Light Imaging Solution (ALLIS™) thanks to significant upgrades and added functionality.
ALIIS: Program Expanding for “All Light”
The new All Light™ solution suite is the result of significant re-engineering of NexOptic’s proprietary machine learning algorithms to encompass virtually all light environments and enable super high-resolution functionality.
ALIIS pushes the limits of traditional imaging in all lighting conditions, adding substantial value to all camera users. Key benefits include:
Critically, ALIIS also improves downstream applications such as facial recognition, object detection, and visual mapping. ALIIS benefits apply to many markets, including mobile, automotive, health care, manufacturing, streaming, storage, and security.
“Our path to commercialization remains clear; align with major industry players now, and grow our AI portfolio to meet market demand,” said Rich Geruson, NexOptic’s Chairman. “Though delayed, we will be announcing strategic partnerships in coming weeks.”
DoubleTake Production on Hold
Considering supply chain challenges around manufacturing and uncertainty in consumer demand resulting from the COVID-19 pandemic, NexOptic has decided to temporarily postpone the commercial launch of DoubleTake, its revolutionary and award-winning sport-optics device. As our global community experiences unprecedented challenges during this uncertain period, we thank you for your continued support. On behalf of the entire NexOptic team, we wish you and your family good health.
ALIIS (All Light Intelligent Imaging Solutions) is a machine-learning AI suite providing instant enhancement to images and videos. These patent-pending solutions can be integrated with imaging devices large and small such as smartphones, smart security cameras, Internet of Things (IoT) devices, automotive platforms, medical imaging, and DSLR cameras. ALIIS also compresses data, significantly reducing media file sizes, making it highly beneficial for storing and transmitting image data. Learn more at https://nexoptic.com/artificialintelligence/
About NexOptic Technology Corp.
NexOptic Technology Corp. (TSXV:NXO, OTCQB:NXOPF, FWB:E3O1) is an innovative imaging startup working to rapidly change the face of the growing multi-billion-dollar optics industry. The Company is expanding and commercializing its All Light Intelligent Imaging Solutions (“ALIIS™”) program. NexOptic is also engaged in the production of its revolutionary sports-optic device DoubleTake and mobile lens solutions. Learn more at www.nexoptic.com.
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This press release contains forward-looking information and forward-looking statements within the meaning of applicable securities laws, including, but not limited to, statements with respect to expectations concerning the development of its sports-optic device and technology, and expected results, specifications, capabilities, and applications thereof. The reader is cautioned that forward- looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions, and other factors which are difficult to predict and that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Forward-looking statements are based on the then current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company operates and are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations, including, among others: risks commonly associated with the development of new technologies, including that the Company’s technology, product designs and prototype are at an early stage and additional work will be required to confirm potential applications and feasibility of its technologies or bring product designs to market; the Company may not be able complete product development as currently expected; potential applications of the Company’s technology are based on limited studies and may not be representative of the broader market; the risk that prototypes and designs may not achieve expected results; the Company may not be able to commercialize its technology; the Company may not be able to source components for its products on a cost-effective basis; the Company may not have access to necessary financing on acceptable terms or at all; pending or future patent applications may not be approved as contemplated or at all; and other risks inherent with technology and product development and the business of the Company. Such forward-looking statements should therefore be construed considering such factors. Other than in accordance with its legal or regulatory obligations, the Company is not under any obligation and it expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether because of new information, future events or otherwise.
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