Shares of Vuzix Corp. (OTC: VUZI), a designer, manufacturer, marketer and seller of video eyewear products for use in the defense, consumer, and media and entertainment markets, have risen sharply in trading today.
At last check, VUZI shares were trading 12.50% higher at $0.0450 on above average volume of 326,000.
Vuzix recently announced that it has been awarded a $150,000 Phase 1 and Phase 1 option, Small Business Innovation Research (SBIR) award from the Office of Naval Research.
The SBIR program is called â€śHead Worn Display Augmented Reality for Military Training Applications.â€ť The program aims to develop a lightweight, low-cost, high-performance device to superimpose computer generated information on an individualâ€™s view of the real world.
Paul Travers, President of Vuzix, said that VUZIâ€™s engineering team demonstrated an in-depth command of the technical and development challenges needed to meet the see through and wide field of view needs of the Navyâ€™s requirements.