More news from management re warrants exercisedproviding money for the treasury. Encouraging prognosis
"IMAGINEAR RECEIVES ADDITIONAL $1,000,000 FROM EXERCISE OF WARRANTS FOR A TOTAL OF APPROXIMATELY $4,500,000 IN 2020. LAUNCHES MODERATED FORUM ON AGORACOM TO DIRECTLY ENGAGE INVESTORS & ANSWER QUESTIONS
ImagineAR Inc. has received approximately $4,571,000 from the exercise of 34,207,000 warrants in 2020 up to July 29, 2020.
Today's announcement and new total receipts from warrant exercises was preceded by announcements on July 8 th, in which the Company announced the receipt of approximately $1,500,000 from the exercise of warrants, followed by an announcement on July 20 th of an additional $2,000,000 for a new total of approximately $3,500,000.
FINANCIAL RESOURCES ALLOW IMAGINEAR TO PURSUE ALL AUGMENTED REALITY OPPORTUNITIES
The proceeds from this latest round of warrant exercises is expected to provide ImagineAR with the financial resources necessary to fund growth and operations for a minimum of 30 months, assuming the Company wasn't able to generate any further revenue from business operations.
However, as the Company expects to generate meaningful revenue from its current and anticipated sales pipeline over the next 12 months, as well as, receive additional proceeds from further anticipated warrant exercises, the Company is confident it now has the war chest necessary to pursue all anticipated business opportunities as the demand for its Augmented Reality solutions continues to grow on a weekly basis.
"Today's announcement significantly bolsters our financial strength and resources necessary to execute our business plan," said Paul Silverrstieen, CEO of ImagineAR. "The continued support and confidence of our valued shareholders is deeply appreciated as we aggressively pursue our growth strategy in 2020 and beyond."