ImagineAR Prepares for 2024: Focus on Generative AI, New Markets, and Patent Portfolio Licensing

Rhea-AI Summary

Imagine AR Inc. (CSE: IP) (OTCQB: IPNFF) is a Vancouver-based Augmented Reality Company focused on enabling sports teams, businesses, and organizations to create mobile phone AR campaigns. The company has raised $1,196,575 in capital in 2023, exceeding expectations. ImagineAR plans to integrate Generative AI into its Global SDK Platform and expand into new markets such as college, retail, entertainment, and casino gaming in 2024. The company is also exploring patent portfolio licensing and enforcement, with the expected filing of its audited 2023 financial statements and MD&A on SEDAR this month.

Positive

• Exceeded capital raising expectations with $1,196,575 in 2023
• Plans to integrate Generative AI into its Global SDK Platform
• Expanding into new markets in 2024 including college, retail, entertainment, and casino gaming
• Exploring patent portfolio licensing and enforcement

Negative

• Challenging year for revenue growth
• No specific revenue growth figures mentioned
• Potential risks associated with patent enforcement and legal proceedings

Vancouver, British Columbia--(Newsfile Corp. - December 4, 2023) - Imagine AR Inc. (CSE: IP) (OTCQB: IPNFF) ("ImagineAR" or "Company") an Augmented Reality Company that enables sports team, businesses, and organizations to dynamically create mobile phone AR campaigns without a technical background, is pleased to provide investors with the following December corporate update.

Alen Paul Silverrstieen, CEO of ImagineAR, stated, "This has been an extremely challenging year for the company driving new revenue growth. Our primary focus has been raising capital in which we ultimately exceeded our expectations with $1,196,575 this calendar year. We are going to expand the markets for the Company's technology in 2024 and are optimistic to achieve revenue growth in our newly stated opportunities."

Integrating Generative AI into the ImagineAR Global SDK Platform

Alen Paul Silverrstieen, CEO of ImagineAR, stated, "Incorporating AI into AR holographic experiences can lead to more interactive, engaging, and personalized communication seamlessly integrating the digital and physical worlds, making AR more captivating, from sports, entertainment, and education to industrial and healthcare."

ImagineAR, a Microsoft Azure Certified Partner since 2018, is planning to integrate Azure OpenAI in 2024 which provides access to OpenAI's powerful language models including GPT-4, GPT-3.5-Turbo, Codex, DALL-E, and Whisper. The Company is exploring key strategic partnerships to develop these new AI/AR integration application opportunities.

Expand into New Markets

In 2024, the Company is broadening its focus into new vertical markets that can increase mobile app ROI with the existing ImagineAR SDK platform as well as potential AI/AR Interactive experiences. New targeted markets include college, retail, entertainment, and casino gaming.

Patent Portfolio Licensing

The Company has been in contact with legal firms to unlock the value of its patent portfolio as well as potential patent enforcement.

The Company is expected to file its audited 2023 financial statements and MD&A for the Year ending August 31, 2023, on SEDARplus this month.

This News Release is available on the company's official Verified Discussion Forum On AGORACOM, a moderated social media platform that enables discussion and Q&A between Management and Shareholders.

About ImagineAR
Imagine AR Inc. (CSE: IP) (OTCQB: IPNFF) has developed an "AR-as-a-Service" platform that enables sports teams and organizations of any size to create and implement their own AR campaigns with no programming or technology experience. Every organization, from professional sports franchises to small retailers, can develop interactive AR campaigns that blend the real and digital worlds using ImagineAR. Customers simply point their mobile device at logos, signs, buildings, products, landmarks and more to instantly engage with videos, information, advertisements, coupons, 3D holograms and any interactive content, all hosted in the cloud and managed using a menu-driven portal. Integrated real-time analytics means that all customer interaction is tracked and measured in real-time. The ImagineAR mobile app is available in the IOS and Android mobile app stores. The platform is available as a native mode SDK.

For more information or to explore working with ImagineAR, please email: info@imaginear.com or visit www.imagineAR.com.

All trademarks of the property of respective owners.

ON BEHALF OF THE BOARD
Alen Paul Silverrstieen
President & CEO
info@imaginear.com
https://twitter.com/IPtechAR
https://www.linkedin.com/company/imagination-park-technologies-inc

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Forward-Looking Information and Statements
This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein may include, but is not limited to, information concerning the ability of the Company to generate revenues, roll out new programs and to successfully achieve business objectives, and expectations for other economic, business, and/or competitive factors.

By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, the Company has made certain assumptions. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; compliance with extensive government regulation. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.

Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward- looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/189684

FAQ

What is Imagine AR Inc.'s ticker symbol?

Imagine AR Inc.'s ticker symbol is CSE: IP on the Canadian Securities Exchange and OTCQB: IPNFF on the Over-the-Counter Market.

How much capital did Imagine AR Inc. raise in 2023?

Imagine AR Inc. raised $1,196,575 in capital in 2023, exceeding its expectations.

What new markets is Imagine AR Inc. planning to expand into in 2024?

Imagine AR Inc. is planning to expand into new markets such as college, retail, entertainment, and casino gaming in 2024.

What is Imagine AR Inc.'s plan for integrating AI into its Global SDK Platform?

Imagine AR Inc. plans to integrate Generative AI into its Global SDK Platform to create more interactive, engaging, and personalized AR experiences.

What is Imagine AR Inc.'s strategy for patent portfolio licensing?

Imagine AR Inc. is exploring patent portfolio licensing and enforcement, with the expected filing of its audited 2023 financial statements and MD&A on SEDAR this month.