Vuzix Corporation (NASDAQ:VUZI) is trading right along its established $6 support levels since running as high as $9.80 in September. VUZI has been running since May when the stock traded for less than $5. The move up came as the Company began shipping their M300 next generation smart glasses.
VUZI started off on the OTCBB but was up-listed to the NASDAQ stock exchange earlier this year. The Company is looking to be a leader in the booming VR headset market which has seen massive growth over the pas few years.
Vuzix Corporation (NASDAQ:VUZI) is a leading supplier of Smart-Glasses, Augmented Reality (AR) and Virtual Reality (VR) technologies and products for the consumer and enterprise markets. The Company’s products include personal display and wearable computing devices that offer users a portable high quality viewing experience, provide solutions for mobility, wearable displays and virtual and augmented reality. Vuzix holds 51 patents and 39 additional patents pending and numerous IP licenses in the Video Eyewear field. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2017 and several wireless technology innovation awards among others. Founded in 1997, Vuzix is a public company VUZI, -0.81% with offices in Rochester, NY, Oxford, UK and Tokyo, Japan.
Over the years VUZI has transformed itself focusing on consumer electronics and products suited for the mainstream consumer. By 2011 the Company had released its first augmented reality consumer product, the STAR 1200 featuring a bulky display. This was the early predecessor to the M100 which was released to enterprise consumers in 2013 for $1,000.
The Company now markets the M300 Smart Glasses that delivers a “hands free” digital world, providing unprecedented access to information, data collection and more. Improve existing workflows and open new opportunities in industrial, medical, retail, supply chain, remote help desk, and other aspects of your business. The new M300 design is based on a common core platform using the Intel Atom processor – slated to drive both our new M300 and M3000 devices.
The Company’s products include personal display and wearable computing devices that offer users a portable high quality viewing experience, provide solutions for mobility, wearable displays and virtual and augmented reality. Vuzix holds 39 patents and 10 additional patents pending and numerous IP licenses in the Video Eyewear field.
The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2014 and several wireless technology innovation awards, among others. Founded in 1997, Vuzix is a public company with offices in Rochester, NY, Oxford, UK and Tokyo, Japan.
Their flagship is the M100 Smart Glasses; the world’s first commercially available “Smart Glasses.” It is an Android-based wearable computer, enhanced with a wearable monocular display and computer, recording features and wireless connectivity capabilities designed for commercial, professional, and prosumer users.
Powerful, small and lightweight, the M100 is well suited for a variety of industrial, medical, retail and prosumer applications. Pre-installed apps can be used to record and playback still pictures and video, track timed events, manage your calendar, link to your phone and more. The M100 is also compatible with thousands of existing Android apps and easy access to developer resources enables the creation of custom apps to suit virtually any need.
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VUZI gained national media attention when their M100 Smart Glasses beat Google Glass to the market. Rumors suggest that a group of Google engineers spent a day at the Consumer Electronics Show hanging around Vuzix’s booth and asking questions. According to those who have tried both Google Glass and VUZI M100 the M100 is the better product. Google glass is not as energy efficient and tends to overheat during heavy use.
In connection with Intel’s $24.8 million investment they purchased 49,626 of Vuzix’ Series A Preferred Stock, which are convertible into 4,962,600 shares of Vuzix’ common stock at an initial conversion price of $5.00 per share, subject to adjustment in the event of stock splits, dividends or other combinations. The shares issuable upon conversion of the Series A Preferred Stock represent approximately 30 percent of Vuzix total outstanding stock.
Smart glasses are taking off and VUZI is leading the pack that includes the likes of Google, Facebook, Samsung and many others. VUZI has a superior and significantly more advanced technology then the competition as well as a patent portfolio that consists of 39 issued patents and another 10 more pending in the wearable technology field.
On September 6 VUZI announced the Company has delivered M300 Smart Glasses to SATS, a Singapore based leading provider of gateway services and food solutions that provides services at 47 airports and 14 countries across Asia and the Middle East. SATS, the chief ground-handling and in-flight catering service provider at the Singapore Changi Airport has started using Vuzix M300 Smart Glasses to digitize its ramp handling operations and has begun introducing the technology to 600 of their staff, which should be deployed across their network by mid-2018.
Using Vuzix smart glasses, SATS ramp handling staff will be able to scan visual markers such as QR codes on baggage and cargo containers to improve the baggage handling process. SATS ramp handling staff will receive real-time loading instructions, as well as allow the ramp control center a real-time view of on-ground processes. SATS expects the increase the accuracy and improvement in efficiency of baggage and cargo handling processes for larger wide-body aircraft on average can shorten loading times by 15 minutes per flight.
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Currently trading at a $127 million market valuation VUZI has $6 million in the treasury and boasts small but growing revenues reporting $1,864,330 in sales for the 6 months ended June 30, 2017. . VUZI is an exciting story developing in small caps that recently up-listed to the NASDAQ stock market who’s M100 smart glasses catapulted VUZI into the mainstream media. VUZI is now marketing the M300 next generation smart glasses that boast significant productivity improvements over the M100 and are set to have a significant impact on the booming VR headset market. We will be updating on VUZI when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with VUZI.
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Disclosure: we hold no position in VUZI either long or short and we have not been compensated for this article.