Company updater filing more positive. No need to dilute theoutstanding shares.
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("ImagineAR" or "Company") an Augmented Reality Company that enables businesses, sports teams and organizations to create instant global AR mobile phone campaigns without a technical background, is pleased to provide a corporate update to investors. Quarterly Financial Statement Filed for May 31, 2021.
The Company maintains a cash position of $5,297,395 which is enough to fund current company operations at its current level thru 2022. Revenue has increased 384% over the comparable nine month period for last fiscal year 2020. With the commercialization of the company's SDK and the White-Label Mobile app products, the focus has been on entering into multi-year license agreement with sports and commercial clients.
Client Updates
Club Atletico Mineiro has successfully launched the ImagineAR SDK Version 1.3 integrated into their mobile app. The kick-off AR campaign featured green screen videos of players delivered around the world, had over 12,000 interactions within 24 hours and a 3000% registration increase per day. The Club also announced a new custom team shirt with over 100,000 orders in a week which will also include immersive AR experiences.
Global Sports Initiatives has successfully launched its white-label mobile app SportIn in both the IOS and Android mobile app stores.
World Tens Series has been postponed due to the pandemic and the competition will be reschedule in the future.
Shopper's Drug Mart, in partnership with HumanContact Inc., successfully delivered another interactive and immersive AR training session with their custom white-label mobile app.
Real Sociedad is expected to launch the ImagineAR SDK Version 1.3 integrated into their mobile app in August.
White-Label mobile apps for Automotive Industries Publication, BlackOwned, and HumanConnect are in development and now expected to be released in Fall 2021."