ImagineAR Provides Shareholders With 2022 Year End Update And 2023 Outlook As "World Leading Augmented Reality Fan Engagement Platform"
Imagine AR Inc. (CSE: IP) (OTCQB: IPNFF) released its 2022 year-end update, highlighting record client wins despite global challenges. The company filed its audited financials and reported a focus on enhancing its AR platform. Major partnerships include the NFL Baltimore Ravens and SIDEARM Sports for the College Football Playoff. Future opportunities are anticipated with a projected rise in mobile AR users. CEO Alen Paul Silverrstieen emphasized ongoing efforts to optimize expenses and strengthen the company's financial position for growth in 2023.
- Achieved best year in client wins despite challenges.
- Partnership with NFL Baltimore Ravens for immersive fan experiences.
- Collaboration with SIDEARM Sports for the College Football Playoff.
- Optimistic outlook for 2023 with signed partnerships.
- Increased investment in enhancing the AR platform.
- Global macroeconomic factors affected core verticals like sports and entertainment.
- Need for expense reduction amid economic challenges.
- Reliance on multiple financing options to strengthen financials.
VANCOUVER, BC, Dec. 29, 2022 /PRNewswire/ - 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 its 2022 calendar year corporate update.
The Company has filed its audited 2022 financials and MD&A for the fiscal year ended August 31, 2022, on SEDAR.
Despite blackswan events such as the Ukraine war and 40 year high inflation challenging even the world's biggest companies - on both their operational and capital markets fronts - ImagineAR was able to deliver its best ever year in terms of client and partnership wins.
As an Augmented Reality leader that believes seeing is believing, we are happy to present the following 2022 Company highlight reel, followed by a written summary:
ImagineAR 2022 Augmented Reality Highlight Video
The NFL Baltimore Ravens integrated the ImagineAR SDK into their mobile app to deliver immersive fan experiences this season. Ravens in Reality has included a virtual championship ring, Super Bowl Trophy, and many Player Holograms including QB superstar Lamar Jackson.
To download and experience Ravens in Reality in the Baltimore Ravens App, please click on these respective links IOS / Android
Yinzcam, the global leader in professional sports mobile apps with over 150 clients, integrated the ImagineAR SDK into the Ravens mobile app. Though we have no definite agreements to report at this time, we believe that our success with the Ravens will provide ImagineAR meaningful opportunities with other professional sports teams served by Yinzcam in 2023.
On January 9, 2023 The College Football Playoff National Championship will take place at SoFi Stadium in Inglewood, California. The CFP National Championship is a post-season college football bowl game, used to determine a national NCAA Division 1 champion.
Through our recent partnership with SIDEARM Sports, College football fans around the world can share in the celebration of the 2023 College Football Playoff (CFP) National Championship by taking photos and videos with the virtual CFP National Championship Trophy - and then instantly sharing them exclusively during the upcoming national championship weekends.
SIDEARM is the nation's leading digital provider for college athletics and trusted by some of the biggest brands in the industry, including the majority of NCAA programs and Power Five athletic departments.
As a leader in digital fan engagement, SIDEARM provides the industry-leading software and technology that powers websites, mobile applications, CTV, live stats, video streaming and more for over 1,500 partners.
Jeff Rubin, President and Founder of SIDEARM Sports stated "This partnership with ImagineAR is a great step forward in enhancing the fan experience while offering a terrific sponsorship activation opportunity for corporate partners."
This immersive experience was developed on behalf of College Football Playoff by Learfield/SideARM sports with ImagineAR. To download and experience the Virtual Championship Trophy Celebration in the College Football Playoffs App, click on the following links: IOS / Android
With over 70,000,000 followers on Instagram, 55,000,000 followers on Facebook and 21,000,000 followers on Twitter, Brazilian soccer icon Ronaldinho is widely regarded as one of the greatest players of all time, including two FIFA World Player of the Year awards and a Ballon d'Or.
The R10 Lens, developed by Jet Media Network and powered by the technology of ImagineAR, allows Ronaldinho's fans to access Augmented Reality filters via the Brazilian star's official app and create shareable videos with their hero.
Jet Media CEO Robin Shelley stated "ImagineAR is recognized as the world-leading AR fan engagement platform. We look forward to integrating their technology and leveraging immersive holograms, initially this spring in our first mobile app."
Jet Media Network has announced they have contracted more than 25 icons for 2023 across sport, music, entertainment, and gaming, and will be launching apps built around their passions, interests and causes.
To download and experience the R10 lens in the Ronaldinho App, click on the following links IOS / Android
Our three-year partnership licensing agreement with Hip Hop Hall of Fame Inc. will provide a Custom Mobile App delivering Immersive AR Experiences. The mobile app will provide a safe community space and friendly eco-system for Hip Hop fans, artists, celebrities, and influencers to express their creativity and experience real life and virtual world live events and content. The app is expected to launch in early 2023.
McCormick & Company is a global leader in flavor. As a Fortune 500 company with over
In celebration of the McCormick® Sunshine Seasoning by Tabitha Brown release, Tabitha's fans were able to cook 'side by side' with Tabitha in the comfort of their own kitchen through "Bring Tabitha Home," an augmented reality (AR) experience this past summer.
This immersive experience was developed by ArcTouch using the ImagineAR SDK.
Hype Sports Innovation GVA 3.0
The HYPE GVA 3.0 is a major fast-track for any sports tech startup who would like to explore opportunities to run pilots with the biggest brands in the Sports Tech industry.
Selected companies will participate in a virtual program which will focus on accelerating all aspects of their technology.
ImagineAR is actively participating in this new accelerator and is awaiting to confirm potential Proof of Concept projects from the participating partners in early 2023.
SD Ponferradina is using the ImagineAR mobile app to engage fans and sponsors. The team is launching an AR Scavenger Hunt for RED DEPORTIVA (Club for Sponsoring Companies) in early 2023.
Our outlook for 2023 begins with this recent and powerful quote from Apple CEO Tim Cook who said:
"In the future people will wonder how we lived without Augmented Reality. We are investing a ton in that space"
Moreover, according to a study published in June 2022 by Statista, there will be around 1.4 billion mobile augmented reality users worldwide by 2023, up 1 billion from with 0.44 million in 2019. By 2024, there will be an estimated 1.73 billion mobile AR users worldwide.
As such, given the Company's success in 2022 we are optimistic about our prospects in 2023 given the level of newly signed and exciting partnerships.
Nonetheless 2022 was challenging for the company given global macroeconomic factors impacting our primary target verticals including sports, entertainment, and retail. To manage the business through this period, ImagineAR has and will continue to rapidly decrease expenses while optimizing for SDK volume licensing flexibility as our top priority.
Company President and CEO Alen Paul Silverrstieen stated "The Company invested throughout this past year to significantly enhance and improve functions in our SDK global platform with multiple new releases delivered regularly to our global clientele.
While the existing environment has drawn our focus to the near-term, we have always had to traverse difficult periods and cycles on our way to fulfilling our mission as the global leader in sports fan engagement using our patented mobile AR platform. With the success of the NFL Baltimore Ravens and College Football Playoffs, ImagineAR is positioned to sign new clients in both professional and college sports this coming year.
Silverrstieen added "Running a tight ship is par for the course for both ImagineAR and all emerging tech companies that have to balance growth and their balance sheet on their way to full commercialization. As such, ImagineAR is pursuing multiple financing options which will increase our financial strength and resources necessary to capitalize on current and future opportunities as Augmented Reality enters its mass acceptance phase. While progress is rarely linear, ImagineAR is committed to further increasing shareholder value as it continues to aggressively pursue its business plan and growth strategy."
This News Release is available on the company's official Verified Discussion Forum On AGORACOM, a moderated social media platform that enables civilized discussion and Q&A between Management and Shareholders.
About ImagineAR
Imagine AR Inc. (CSE: IP) (OTC: 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.
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ON BEHALF OF THE BOARD
Alen Paul Silverrstieen
President & CEO
(818) 850-2490
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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.
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SOURCE ImagineAR Inc.
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