SOURCE: Infinity Augmented Reality

November 06, 2013 13:52 ET

Infinity Augmented Reality and Mobli Director Moshe Hogeg Announces Deal With Carlos Slim's America Movil, Concluding Strategic Investment in Mobli

NEW YORK, NY--(Marketwired - Nov 6, 2013) -  Infinity Augmented Reality, Inc. ("Infinity Augmented Reality" or "Infinity AR") (OTCQB: ALSO) announced today that director Moshe Hogeg has concluded a strategic investment with Carlos Slim's América Móvil for Mobli. As reported by Reuters, the company stated that as part of a $60 million funding round, a collaboration agreement has been reached to introduce Mobli products to América Móvil mobile users.

Mobli is a picture and video sharing platform, and América Móvil is the fourth largest mobile network in the world with revenues of $59.3 billion last year, who serve over 246 million mobile subscribers in eighteen countries. "The mobile access is significantly enriching our daily lives and is opening the door to completely new experiences for users around the world," said billionaire Carlos Slim, who controls América Móvil. "Mobli has developed a remarkable technology and this strategic alliance will allow América Móvil to bring value added experiences for its users throughout the Americas," he said.

Infinity Augmented Reality is grateful and extremely proud to have Moshe Hogeg as their director.

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