Nextech3D.AI Corp C.NTAR

Why the delay in up-listing......?

[Shriver9]

The Reddit discussion in the link below provides a different take on Nextech’s CEO :

https://www.reddit.com/user/Nextech-AR-Solutions/comments/l86plq/nextech_ar_solutions_a_speculative_bullish_stance/

Poster “oldschoolhumblepie”  writes “ The CEO, Evan Gappelberg, is a smart guy”  and goes on to explain why he thinks so, and also why he thinks Nasdaq up-listing has not happened. It is certainly worth a read.

To fully appreciate what the poster is saying, lets look at how Pyrogenesis  Canada got up-listed.to Nasdaq. Their CEO is also a finance guy, who has worked as a investment banker specializing in mergers and acquisitions and then public offerings. 

First they got the company up-graded from TSX-V to the TSX main exchange.  Next they did their research on what is required for up-listing to Nasdaq, and in early November 2020 did a $12M bought deal with Mackie Research Capital Corp.

Once the bought deal closed, they applied for up-list to Nasdaq on December 22, 2020, confidently stating in their news release that “ it is expected that the Company’s Shares will be listed before the end of Q1 2021.”

https://www.globenewswire.com/news-release/2020/12/22/2149416/0/en/PyroGenesis-Files-Listing-Application-with-NASDAQ.html

On Feb 18, 2021, the company announced that upon approval, the SEC requires 3 day notice prior to up-list and that they “will choose a listing date that will be most beneficial to the Company while taking into consideration other events that are taking place.”

https://www.globenewswire.com/news-release/2021/02/18/2178431/0/en/PyroGenesis-Provides-Update-on-its-Listing-Application-with-NASDAQ.html

The share price reached its 52 week high of C$12.14

Pryogenesis received approval to up-list to Nasdaq on March 10^th, only just over 3 months after they applied.

https://www.globenewswire.com/fr/news-release/2021/03/10/2190839/0/en/PyroGenesis-Announces-Listing-of-its-Common-Shares-on-NASDAQ.html

Everything seems perfectly executed, right?  Not quite. Take a look a PYR.TO’s chart and you will note share price started its downward slide after the up-list to Nasdaq, and today trades at just over C$ 6.  That’s right, it is now about half the price that it was before it was up-listed.

Did PYR rush to get up-listed and got the timing wrong?  Perhaps. So, when should they have timed the up-list?  See link below.

https://ca.finance.yahoo.com/news/pyrogenesis-comments-today-trading-activity-162900120.html

Perhaps PYR should have waited another 6 or 7 months when the contracts are signed.

Returning to Nextech, if you watched the Proactive videos in Nov & Dec, Evan, when pressed on why up-listing is taking so long, replied that he was in constant touch with Nasdaq, and was  “ talking to them almost every other day” or words to that effect.  If he was in constant touch with Nasdaq, he would have known by then what else needs to be done to get his company up-listed.

Anyone can do a simple Google search on companies that got up-listed recently and notice that almost all of them had done a bought deal prior to up-list. If you read my previous posts, I had provided several examples of companies who did bought deals and got up-listed to Nasdaq before the bought deal closed and without providing the latest audited quarterly results. So why did Nextech wait till Feb 18^th this year to do a bought deal, when they could have done it last year to speed up the approval?

In the above Reddit discussion, poster “oldschoolhumblepie”  opines “  the CEO Evan Gappleberg has slow walked the up listing to NASDAQ because he knows when this takes off, and it will, he needs to scale the company to meet demand or they will try to crush him on not be able to deliver. That is why they are on a hiring frenzy.”

So did Nextech decide some time ago to slow walk the up-listing to Nasdaq, and will choose a listing date that will be most beneficial to the Company?

Remember if the “ Nasdaq uplisting approval board  are working to keep Nextech from ever up-listing “ as Madhunky suggests, Nextech can very easily up-list by merging with any one of the many SPAC companies already on Nasdaq. This is probably the fastest way to up-list.

Not to mention that Nextech needs to give 4 days notice if they are rejected by Nasdaq, and that Mackie Research would have done very extensive DD before signing on a prospectus that indicated that the money they are giving is for a Nasdaq Offering. They took 7 weeks to do their DD and finally sign it. If they thought that there was no chance of Nextech getting Nasdaq approval, they would not have signed it and given them $14M.

Could it be that Nextech is not yet up-listed because the company feels the time is not right for up-listing and they want to avoid what happened to PYR after it up-listed?

So perhaps, rather than asking why Nasdaq is taking so long to approve the application, we should be asking Evan that “ based on his 30 years experience on Wall Street, when is the appropriate time for the company to up-list?”

[madhunky]

I appreciate your informative post Shriver9. The thing that is driving me and a lot of investors nuts is the lack of transparency about the process. If Evan is slow walking it and waiting for an advantageous time to uplist, why does he not say so and explain what is going on to ease our minds and shut up the shorters and possibly stem the selloff. He has stated that uplist is "imminent"

[madhunky]

On further thought, I don't really buy the Evan is slow walking the uplisting for a more advantageous time theory. He has stated that he is just as anxious and frustrated as anyone about the unusually long time it is taking to get uplisted, and is practically calling the people at NASDAQ every day. He says it is because they are backlogged, but people are getting tired of hearing that. It'

[Shriver9]

Madhunky writes “Companies are making noises that they want to get people back into their offices rather than having virtual meetings”.   Firstly, I don’t see Nextech as a Covid play company, and also in any case I don’t think the need for virtual meetings / conferences (held locally or overseas) or the use of AR in online education will end with Covid.  See link below: https://www

[madhunky]

@Shriver9  How senior is the NEO exchange? Up until Nextech uplisted to it, I had never even heard of the damn thing as I'm sure was the case with many other fellow investors. Maybe a lot of intitutions don't know about it either, especially in foreign countries. Certainly didn't do us much good. It seems that the uplisting to that was the beginning of the downward spiral. At

[madhunky]

When I spoke about online education, I guess I concentrated too much on younger students. I suppose older more mature students like college age would be just fine with it, as well as company employees who are taking training courses online.