Vuzix Corporation (NASDAQ: VUZI) is engaged as within the development and distribution of augmented reality (AR) and smart glasses-enabled technologies. Among the company’s products, include personal display, wearable devices, AR devices, and more. The company holds “153 patents, patents pending, and numerous IP licenses in the video eyewear field,” detailed the company. The AR company jumped 45.32%, during trading on Monday, June 10, 2019. Over the past three months, Vuzix Corporation has seen average daily volume of 315,540 shares. However, volume of 5.15 million shares or dollar volume of $15.19 million, exchanged hands during trading on Monday.
Shares of Vuzix Corporation rallied on Monday, after the company announced, along with Dubai-based NNTC, the world’s first full-auto, artificial intelligence-based facial recognition system integrated within Vuzix’s Blade Smart Glasses. About 50 of the A.I. smart glasses have been delivered to NNTC and being tested within the region. The technology is designed for law enforcement, security, and other industries. Here is the full press release detailing of the new smart glasses:
Vuzix Corporation Press Release:
ROCHESTER, N.Y., June 10, 2019 /PRNewswire/ — Vuzix® Corporation (NASDAQ: VUZI), (“Vuzix” or, the “Company”), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, together with NNTC, a Dubai (UAE) based software developer and solution provider, announce iFalcon Face Control™ Mobile, the world’s first fully autonomous AI-powered face recognition system integrated with Vuzix Blade Smart Glasses.
The iFalcon Face Control mobile solution using the Vuzix Blade was demoed at the Minister of Interior Innovation Summit in Abu Dhabi in February. Approximately 50 Vuzix Blade Smart Glasses have been delivered to NNTC and are currently being deployed into several security operations in the region.
Vuzix Blade Smart Glasses, which are nearly indistinguishable from everyday sunglasses, utilize the built-in camera on the glasses to detect faces and then transmits the information to a wearable portable computer over a wireless channel. The portable computer processes face images and compares them with faces from the database stored locally to find the match. Once there is a match, the solution retrieves relevant information from the database and instantly sends an alert to the wearer via the Vuzix Blade AR Smart Glasses.
The iFalcon Face Control Mobile is designed for law enforcement officers and security guards on patrol and when synched to Vuzix Blade Smart Glasses enables security personnel to easily and discretely screen a crowd to match faces against a database of violators, missing people or suspects.
- Detects up to 15 faces per videoframe in under 1 second
- Can handle 1 million unique faces in database
- No cloud data connectivity is required
“We are very happy with the way Vuzix Blade complements our wearable face recognition solution. First of all, our customers love the product design and features. As a software developer we appreciate the flexibility, technical and pre-sale support that Vuzix offers. They also have solid vision for the product future that gives a peace of mind to us and the customers as well” said Dmitry Doshaniy, General Manager at NNTC
“The overall design and the see-through waveguide optics of the Vuzix Blade are critical must have features for deployments into security operations. We’re excited to see this customer move rapidly from proof of concept to deployment within security operations,” said Paul Travers, President and Chief Executive Officer at Vuzix.
About Vuzix Corporation
Vuzix is a leading supplier of Smart-Glasses and Augmented Reality (AR) 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 augmented reality. Vuzix holds 153 patents and 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 2019 and several wireless technology innovation awards among others. Founded in 1997, Vuzix is a public company (VUZI) with offices in Rochester, NY, Oxford, UK, and Tokyo, Japan. For more information, visit Vuzix website, Twitter and Facebook pages.
About NNTC Company
NNTC is a solution provider, software developer and training services company established in 2015 in Dubai (UAE). The company focuses on innovations and digital transformation projects in the highly demanded areas such as Face Recognition and Video Analytics, VR and AR, AI & Robotics, Internet of Things, Drones and Building Information Modeling. NNTC is serving some of the largest government and private entities in the GCC region and have earned a reputation of a trusted solution provider and innovative technology expert. For more information, visit NNTC website, Twitter and Facebook pages.
Forward-Looking Statements Disclaimer
Certain statements contained in this news release are “forward-looking statements” within the meaning of the Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Forward looking statements contained in this release relate to our business relationship with NNTC, future business and among other things the Company’s leadership in the Smart Glasses and AR display industry. They are generally identified by words such as “believes,” “may,” “expects,” “anticipates,” “should” and similar expressions. Readers should not place undue reliance on such forward-looking statements, which are based upon the Company’s beliefs and assumptions as of the date of this release. The Company’s actual results could differ materially due to risk factors and other items described in more detail in the “Risk Factors” section of the Company’s Annual Reports and MD&A filed with the United States Securities and Exchange Commission and applicable Canadian securities regulators (copies of which may be obtained at www.sedar.com or www.sec.gov). Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law.