SOURCE: Infinity Augmented Reality

November 24, 2013 22:12 ET

Infinity Augmented Reality, Inc. Announces Successful Technology Entrepreneur's Investment in Company

Founder and CEO of Mobli, and Director of Infinity AR, Moshe Hogeg, Makes Significant Investment in Infinity AR

NEW YORK, NY--(Marketwired - Nov 24, 2013) - Infinity Augmented Reality, Inc. ("Infinity Augmented Reality" or "Infinity AR") (OTCQB: ALSO), the first augmented reality software platform to connect universally with digital eyewear such as Google Glass and Meta, smart phones and tablets, announced today Moshe Hogeg, acclaimed founder of Mobli and devoted shareholders have purchased a substantial amount of Infinity AR common stock on the open market.

Moshe Hogeg is a veteran technology entrepreneur and the founder and CEO of Mobli a social and mobile photo and video sharing website which as of November 2013 has 12 million users; he has recently concluded a contract with Carlos Slim's American Movil Company. With the advent of Google glass and other digital eyewear, Mr. Hogeg's substantial investment in Infinity AR comes at a propitious time. He states, "I am fully confident that this remarkable company with their state-of-the-art software platforms, dynamic management and infrastructure is positioned perfectly to take advantage of what promises to be a huge and insatiable market for the latest technology in digital software."

"We are elated with Moshe Hogeg's investment in Infinity AR," says Enon Landenberg, CEO of Infinity AR. "When someone of the stature of Mr. Hogeg -- a bona fide technology entrepreneur, and expert smart money investor -- has the confidence and conviction to invest in our company, you cannot but help to realize that it is a genuine and sober validation of everything we have been working towards. We are certain his faith in us will be handsomely rewarded."

It was announced at the Global AR Summit in Shanghai in September that revenues related to AR Technology will approach $600 billion by 2016. In addition, by 2017, over 2.5 billion mobile augmented reality apps will be downloaded to smartphones and tablets per annum and by 2020, 103 million automobiles will contain AR technology. With the anticipated release of Google Glass the augmented reality market is assured of even greater growth.

About Augmented Reality
Augmented reality is a medium in which real sensory inputs are enhanced, or augmented, with relevant digital information from the Internet. Using specially equipped eyewear, virtual images, video, and sound are superimposed for the user over what is actually seen and heard, heightening the real-life experience with additional information that is pertinent, informative, practical and entertaining. The individual user may also be fully immersed in a virtual world, temporarily blocking out real surroundings. With augmented reality, sensory inputs are no longer limited to what is within eyeshot or earshot, but may incorporate, in real-time, all that the network has to offer.

Augmented reality requires an interface, such as digitally-enhanced eyewear, that can instantaneously overlay virtual images and video on top of what is actually experienced. Companies like Google and Lumus are in the process of developing augmented reality glasses that will change the way users see and interact with the world. Infinity AR will utilize its augmented reality applications through these glasses and through other mobile devices including smart phones. As the individual changes his or her visual perspective the sights that are overlaid change accordingly. The eyewear incorporates audio speakers that add virtual sounds to the experience, as well as microphones that capture and interpret the user's spoken commands through speech recognition technology in order to summon desired information and actions. Further information on the Company is available at its website, www.infinityar.com.

Safe Harbor Forward-Looking Statements
Some statements in this release may be "forward-looking statements" for the purposes of the Private Securities Litigation Reform Act of 1995. In some cases forward-looking statements can be identified by words such as "believe," "expect," "anticipate," "plan," "potential," "continue" or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors, risks and uncertainties are discussed in our public filings with the Securities and Exchange Commission. Readers are urged to carefully review and consider the various disclosures made by us in our reports filed with the Securities and Exchange Commission, which attempt to advise interested parties of the risks and factors that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. We undertake no obligation to update these forward looking statements.

Contact Information

  • Contact:

    InfinityAugmented Reality, Inc.
    Enon Landenberg
    President and Chief Executive Officer
    (212) 201-4070
    Email Contact