NEW YORK, NY — (Marketwire) — 03/07/13 — Absolute Life Solutions, Inc. (OTCQB: ALSO) (the “Company”) announced that effective today that the Company-s name has been changed to Infinity Augmented Reality, Inc. (“IAR”). The merger of its wholly-owned subsidiary, Infinity Augmented Reality LLC (“IAR Subsidiary”), into the Company is also effective. The Company-s Board of Directors had approved the name change and merger on January 24, 2013. All required documentation has been filed with Financial Industry Regulatory Authority (“FINRA”) to effect the name change and merger.
During the year ended August 31, 2012, the Company formed IAR Subsidiary as a wholly-owned subsidiary focused on the development of software applications utilizing Augmented Reality. The Company expects to emerge as a leader in the burgeoning augmented reality industry by actively developing a comprehensive platform for consumers.
“We have made the name change to more accurately reflect the activities of our Company and to establish our brand as a pioneer in the augmented reality space,” said Avrohom Oratz, Chief Executive Officer at Infinity Augmented Reality. “We believe augmented reality represents the next generation in technology and applications, offering our company and shareholders an exciting opportunity for leadership and growth in this cutting-edge 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, Vuforia and Lumus are in the process of developing augmented reality glasses that will change the way users see and interact with the world. IAR will utilize their 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. .
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.
Infinity Augmented Reality, Inc.
Avrohom Oratz
President and Chief Executive Officer
(212) 201-4070
You must be logged in to post a comment Login