NEW YORK, NY — (Marketwired) — 07/23/13 — 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 it established a new research and development center (R&D Center) in the heart of Tel Aviv, “The New Silicon Valley” of Israel.
Infinity AR-s new strategically placed R&D center will enable even more forward-thinking technology to come to light. “This new Silicon Valley is not only the testing grounds for new innovations,” says Infinity AR-s CEO Enon Landenberg, “but a springboard from which all of our augmented reality products will originate.”
Tel Aviv, which currently hosts more than 1,200 high-tech firms and over 700 early-stage start-ups, is ranked the second most entrepreneurial hotspot in the world behind California-s Silicon Valley, according to . The addition of the R&D Center for Infinity AR is another aggressive move by the company toward utilizing the wealth of business intelligence and technological resources available in Israel. Infinity AR-s R&D Center will be utilizing approximately 15 employees, a majority of which will be software engineers and developers, with plans for hiring additional employees in the coming months.
“We are always looking for technological advantages and an entrepreneurial spirit,” says Enon Landenberg. “We-ve tapped the mother lode here in Israel. There is no better place to be for the greatest minds in software development. Likewise, there is no better setting for us for creating, assembling, testing and retesting the augmented reality platform we are bringing to the public.”
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. .
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.
Enon Landenberg
President and Chief Executive Officer
(212) 201-4070
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