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ImagineAR Inc. reports on augmented reality and immersive-technology business developments tied to its ImagineAR.com platform and its wholly owned FameDays subsidiary. Company updates describe an AR platform that enables businesses to create immersive campaigns without programming experience, FameDays' immersive entertainment center activities, and the use of augmented reality, artificial intelligence and interactive technology in location-based experiences.
Recurring news themes include the operating status of the AR platform, intellectual property and licensing initiatives, strategic partnerships, project agreements and terminations, warrant extensions, consulting arrangements, option grants, annual meeting results, executive finance leadership changes, and trading-market status for the company's common shares.
ImagineAR (IPNFF) has announced the planned launch of its AI/AR-as-a-Service business model, integrating GenAI technology developed by S3iai with Augmented Reality. The platform will enable businesses to create personalized customer experiences through AI-powered voice interactions and AR holograms on mobile devices.
The solution will target diverse sectors including Aerospace, Location-Based Entertainment, Casino, and Retail, offering features such as AI-curated AR ads, flexible platform licensing, and data-driven insights through subscription plans. The SaaS model aims to generate predictable recurring revenue and foster long-term customer relationships.
The company reports early interest from potential partners and is currently in active discussions with multiple parties interested in implementing this technology for their operations and customer engagement strategies.
ImagineAR (CSE: IP, OTCQB: IPNFF) has announced the signing of an arms-length consulting agreement with a consultant who will assist in developing new business concepts, increase company visibility, and identify potential partnership opportunities over a 12-month period.
As compensation, the company has granted the consultant 5,000,000 stock options, exercisable at $0.075 per share with a three-year exercise period. The options have been issued in accordance with the company's stock option plan.
ImagineAR (CSE: IP) (OTCQB: IPNFF) has closed the second tranche of a convertible note financing, raising $385,000. This brings the total amount received from both tranches to $510,000. The funds will support the company's major initiatives: Location-Based Entertainment, AI integration with AR, and Patent Enforcement & Licensing.
The convertible notes can be converted into Units at $0.05 per Unit, with each Unit comprising one common share and one warrant. The warrant is exercisable into one common share at $0.07 for three years from the issue date. No finder's fees or commissions will be paid. Securities issued will have a four-month statutory hold period plus one day from issuance.
ImagineAR (CSE: IP) (OTCQB: IPNFF) has clarified details of its convertible note financing announced on August 30, 2024. The convertible notes and interest can be converted into units at $0.05 per unit at any time by the holder or automatically. Each unit comprises one common share and one warrant, with the warrant exercisable into one common share at $0.07 for three years from the issue date. The company has received $125,000 for the first tranche and plans to issue the convertible notes on September 9, 2024. No finders fees or commissions will be paid. The company emphasizes that this press release is not an offer to sell or solicitation to buy securities, and the securities have not been registered under the U.S. Securities Act of 1933.
ImagineAR (CSE: IP) (OTCQB: IPNFF) has announced the closure of the first tranche of a $1.1 million convertible note financing. The funds will support three major initiatives: Location-Based Entertainment, AI integration with AR, and Patent Enforcement & Licensing. The financing terms include:
- Three tranches: Initial $125,000 on August 30, 2024, and $975,000 in two subsequent tranches by October 31, 2024
- 12% annual interest rate, payable quarterly or on maturity/conversion
- 24-month maturity from issue date
- Automatic conversion to common shares at $0.05 per share
- Company option to convert within 30 days if shares trade at or above $0.20 for 20+ consecutive days after 4 months from issuance
Securities are subject to a four-month statutory hold period. This offering is not available in the United States or to U.S. persons.
ImagineAR Inc. (CSE: IP) (OTCQB: IPNFF) has announced the issuance of 750,000 stock options to its CFO and consultants. These options are exercisable at $0.05 per share and have a 3-year expiration period. The company stated that this grant is in accordance with its existing stock option plan. This move may be seen as a way to incentivize key personnel and align their interests with those of the shareholders.
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