NEW YORK, NY--(Marketwire - Mar 19, 2013) - Infinity Augmented Reality, Inc. ("Infinity Augmented Reality" or "Infinity AR") (
Described in a Forbes article as, "The Next Google," Mobli (www.mobli.com) is a photo- and video- sharing app with millions of users. Mobli was founded by Hogeg after attending a concert in 2009, where enthusiastic throngs in the audience were filming it on their smart phones. Hogeg realized there was a market for those who wanted to experience "everything worth seeing in the world" via the Internet. Since then, Mobli has attracted millions of followers and the financial backing from celebrities such as Leonardo DiCaprio, Serena Williams, and Tobey Maguire. In September of 2012 Mobli made headlines by receiving a $22 million investment bringing the total raised to $28.5 million.
Hogeg will now bring his social media expertise, technological savvy and established reputation to Infinity AR, a leader in the field of augmented reality. About this Hogeg stated, "Infinity Augmented Reality is at the vanguard of the augmented reality movement. Technology is moving forward faster than any time in history. This week Samsung released its new smart phone that has 'eye scrolling technology.' In the next year we will see a huge push into augmented reality with the release of Google Glass. Infinity AR is in a great position to capitalize on this shift in technology when the next generation Augmented Eyewear is released later this year. Infinity AR is the only platform that allows all operating systems (i.e. iOS and Android) to connect to any hardware device such as Smart Phones, Tablets, and any Augmented Eyewear. The new Samsung Galaxy S4 phone is nothing compared to what's coming in augmented reality."
"We are thrilled that Moshe will be bringing his proven expertise to our company," exclaimed Avrohom Oratz, the President and Chief Executive Officer of Infinity Augmented Reality. "There is every reason to believe that it will take our performance to the next level."
Mr. Oratz continued, "Infinity AR has advanced facial, image, and mood technology that it plans to release in the coming months. Looking at what our team has accomplished to date we believe that we have the best technology in this field. The company is also developing the technology to give a user the ability to 'virtually travel' to 'anywhere' in the world using the 360 degree camera technology that is currently in use. We are fine tuning the technology so that when a person puts on their Augmented Eyewear it's as if they are actually sitting where the camera is. Some of the industries that we see growth in the near term using this technology are in entertainment, education, gaming, and online gambling. We will be keeping our shareholders updated with our advancements in this field."
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/or 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/or through other mobile devices such as smart phones. As the individual turns his or her head in various directions and looks at different people or objects through the eyewear, the sights that are overlaid change accordingly. The eyewear incorporates speakers that add virtual sounds to the overall 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.