SCOTTSDALE, AZ--(Marketwired - Feb 2, 2017) - TimefireVR Inc. (OTCQB: TFVR) (the "Company"), a software development company focused on virtual reality content, today announced that Jeffrey Rassás, Co-Founder & Chief Strategic Officer of TimefireVR, has been appointed Chief Executive Officer to lead the Company into its next phase of releasing the Alpha version of its virtual reality experience, Hypatia, in the first quarter of 2017. Mr. Rassás replaces Jonathan Read who will remain a consultant through July 2017.
Mr. Jeffrey Rassás, Co-Founder and newly appointed CEO, stated, "TimefireVR is at a critical juncture in the Company's history. After two years of development, we are nearing the final stages before Alpha launch of Hypatia. Built to socialize, create and explore, Hypatia will bring experience and exploration to a feature-rich world and complex virtual economy focused on social interaction, commerce, cultural immersion, entertainment and education." Mr. Rassás continued, "We are grateful to Mr. Read for his service to the Company through the critical period of the merger and our initial financing. Together, we have built a strong foundation for our Company to move forward."
Mr. Jonathan Read commented, "Having taken the Company through the merger, completed the initial financing, and set up a strong corporate structure, I am confident of the Company's future under the strong leadership of Mr. Rassás, a seasoned technology CEO. I look forward to the success of its upcoming Alpha launch and unveiling the vision of John Wise to the VR world. As a shareholder I am excited to see the full release of Hypatia, and applaud the continued creativity that this great team of developers has in store for VR."
Founder and President John Wise added, "Mr. Read was the driving inspiration for steering our merger. Having him on as a consultant as we continue to grow will certainly be an asset to TimefireVR."
About TimefireVR Inc.
TimefireVR Inc. is an Arizona based Technology Company established mid-2014 to develop virtual reality content, tools, and services. Their first product is a massive and collaborative open world titled Hypatia, an online truly social destination featuring commerce, entertainment, and a safe and welcoming environment to explore educational opportunities. Based on architectural influences ranging from Amsterdam and Barcelona to Wuzhen, China, Sana, Yemen and the remote village of Tiebele in Burkino Faso, TimefireVR's platform will provide a rich, multi-cultural, creative and participative world where the reward is immersed in experiential learning and global friendships. Hypatia will have a limited alpha release in early 2017 with expectations of becoming a VR destination leader. A trailer can be seen at www.timefirevr.com
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements, including statements regarding development of TimefireVR's products and our anticipated launch timing for Hypatia. The words "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include the Company's need for capital, the future condition of the capital markets in general and the market for microcap securities, and software bugs that could delay TimefireVR's successful development of its Virtual Reality platform. Further information on our risk factors is contained in our filings with the SEC, including the Annual Report on form 10-K for the year ended December 31, 2016. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.