Vancouver, Canada – May 23, 2018 – NexOptic Technology Corp. (“NexOptic”) (OTCQX: NXOPF) (TSX VENTURE: NXO) (FRANKFURT: E3O1) (BERLIN: E3O1) is pleased to announce that it has completed preliminary testing on its smartphone lens system. This lens system is one of NexOptic’s previously announced new optical systems and is engineered to impact the rapidly growing, smartphone, telephoto marketplace.
Darcy Daugela, P.Eng and Chairman of NexOptic stated: “We are all very encouraged by the results our team has achieved on its first mobile lens demonstration. Imaging capabilities from our desktop testing of the assembled lens system appear to have met our ambitious design targets.” Mr. Daugela continued: “If we incorporate industry-standard image processing techniques used in virtually every mobile device, I believe this lens design can provide unprecedented telephoto capabilities for smartphones and many other consumer imaging products.”
The testing was completed upon receiving and assembling the Company’s custom manufactured lenses from Diverse Optics of California and consisted of testing the assembled lens system on a desktop. Bar target test results indicate that the lens provides improved angular resolution when compared to market leading smartphone telephoto lenses, as it was able to resolve two more bar targets (i.e., 25% better angular resolution) on the chart than one of the current, top-rated smartphone lenses.
Initial bar target test results from NexOptic’s benchtop prototype indicate that on-axis resolvable targets (measuring resolution) are nearly identical to simulation values. NexOptic notes that its desktop demonstration was built to prove the engineering and showcase the technology on a preliminary basis and to refine NexOptic’s path to a smartphone-based unit. Off-the-shelf sensor configurations and rudimentary image processing features were used for NexOptic’s initial testing. NexOptic will be engaging an industry-leading, independent third party to test optical resolution, and looks forward to reporting the ongoing progress of its smartphone prototype as the Company continues to work towards completing a functional prototype of this lens system.
Intellectual Property Update
NexOptic also reports that, as part of its strategy to protect intellectual property, it continues to file additional patent applications with the United States Patent and Trademark Office (“USPTO”) in addition to filing in strategically selected, global jurisdictions.
Recent provisional patents filed with the USPTO (including ones specific to and related to the mobile lens stack design) utilize a variety of lens stack designs, all of which differ geometrically from NexOptic’s first patented lens, with which the Company designed and built its original proof-of-concept (please see NexOptic’s news release dated June 29, 2017). NexOptic’s original patent, as issued by the USPTO, is now pending in the following jurisdictions: China, South Korea, Japan, the European Union (including Great Britain) and Canada.
NexOptic continues to expand its Blade Optics™ suite of optical technologies, which it believes will enable much broader and more dynamic marketing strategies for the Company.
About NexOptic Technology Corp.
NexOptic is a creative optical development company which aims to enhance the way we view the world around us. Currently focused on engineering its first consumer product for the growing outdoor recreation market, as well as a demonstration prototype for the mobile device space, NexOptic is aggressively pursuing a multipronged optical innovation strategy. Utilizing Blade Optics™, the Company’s developing suite of innovative optical technologies, NexOptic aims to increase aperture sizes within given depth constraints of various imaging applications. Increasing the aperture size enables a lens system to have an improved diffraction limit, thus providing the potential for increased resolution capabilities.
Blade Optics™ refers to NexOptic’s lens designs, algorithms and mechanics which vary from patented, patent-pending and includes all of the Company’s intellectual property and know-how.
NexOptic trades on the OTCQX under the symbol “NXOPF,” on the TSX Venture as “NXO,” on Frankfurt as “E3O1” and Berlin as “E3O1.” More information is available at www.nexoptic.com.
On behalf of the Boards of Directors
NexOptic Technology Corp.
John Daugela, CEO & Director
+1 (604) 669 – 7330
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 technology, new products and designs, the potential applications of the Company’s technologies and its potential markets. 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 is at an early stage and additional work will be required to confirm potential applications and feasibility of its technologies; the Company may not be able complete the prototypes and designs 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 notachieve expected results; the Company may not be able to commercialize its technology; the Company may not have access to necessary financing on acceptable terms or at all; and other risks inherent with the patent process, transactions of this type and the business of the Company. Such forward-looking statements should therefore be construed in light of 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 as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.