U.S. Markets closed

Infinity Augmented Reality Announces New VP of R&D

NEW YORK, NY--(Marketwired - Jul 10, 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, smartphones and tablets, announced today that Ran Lehr has been appointed the new Vice President of Research and Development (VP R&D) effective Wednesday, July 10th, 2013. In his new role, Lehr will be adding his expertise, education, and experience to an already all-star leadership team guiding Infinity AR into the development of publically demanded products.

Prior to joining Infinity AR, Mr. Lehr used his talents and knowledge as a freelance developer creating a social gaming platform for PlayChanger. He is also the Co-Founder of Spontaneous, a software company in the field of diabetes that allows diabetics to keep their blood sugar balanced anywhere using a mobile application. In addition, Mr. Lehr has extensive experience in the use and application of such technologies as Android, PhoneGap, Cassandra, Mongo DB, Html5, Css3, MS Kinect, C#, C++, as well as many others.

"We are thrilled to welcome Mr. Lehr to our team as VP R&D," says CEO Enon Landenberg. "His role will be to assure the successful execution of the company's business mission through development and deployment of Infinity AR's many augmented reality products. We see the addition of Mr. Lehr to our team as yet another move toward providing technologically advanced augmented reality products, particularly in the world of online gaming."

"The world is seeing a paradigm shift from technology today to what technology can be," Lehr stated. "Thomas Kuhn, who defined and popularized the concept of paradigm shift, stated that scientific advancement is not evolutionary but a 'series of peaceful interludes punctuated by intellectually violent revolutions,' and in those revolutions 'one conceptual world view is replaced by another.' Augmented reality is currently that violent disruption that is replacing the current world view and Infinity AR is facilitating that change."

Infinity AR recently made waves grabbing the public's attention with a YouTube video that attracted 1.5 million viewers in less than two weeks. The popularity of the video revealed the fascination as well as the demand for the multitude of applications of Infinity AR's unique platform that enhances people's lives.

The addition of Mr. Lehr as VP R&D ensures that Infinity AR will have an even stronger technology, as well as managerial foundation. Supplementing Mr. Lehr's technology experience and his Bachelor degree in Computer Science is his experience as the director of web development in GameGround. "It takes well-rounded, wearer-of-many-hats type of people to provide the augmented reality products that the public is craving," says Landenberg. "Mr. Lehr fits that mold perfectly."

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.