Fresh on the scene, right when Google Glass and the newest Samsung Galaxy S4 are promoting how eyes are the thumbs of the future, the penny stock of Infinity Augmented Reality, Inc. (OTC: ALSO) has launched itself into the OTC spotlight. Based on the premise of creating a product one day that an individual turns his or her head in various directions and looks at different people or objects through eyewear, ALSO stock is set to augment the pockets of the insiders and March agreement partners who get to buy tens of millions of shares at prices between $0.10 and $0.005. Translation: Promotion Watch
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ALSO Stock Quote
Market Cap: 56.26M
Last: 0.61 ▲ 0.06 (+10.91%)
Dollar Volume: $118,688
Issued and Outstanding: 92,229,599
1st Resistance Point: 0.6633
1st Support Level: 0.5533
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Originally a mining exploration company called Shimmer Gold, Inc. (SMGN) with interests in the Atlin Mining Division of British Columbia, Infinity Augmented Reality, in January, took over the corporate shell created by Absolute Life Solutions, Inc., a Company designed to be a specialty financial services firm engaged in the business of purchasing life settlement contracts for long-term investment purposes. The Company then went on to, on October 24, 2012, elected Moshe Hogeg, Chief Executive Officer of Mobli Media, Inc., as a member of the Board of Directors.
Hoegg’s presence is vital to Infinity Augmented Reality moving forward since he and his 35 employee photo and video sharing platform raised $28,500,000, an amount that will be a drop in the bucket if this technology is ever to get off the ground. The connection of the “peas in the pod” extends due to Avrohom Oratz, President and CEO of Infinity, already having been a member of the Board of Directors at Mobli Media, Inc.
But raising funds is not something that appears to be the important issue at hand withe the perfect timing of ALSO stock suddenly hitting the list of penny stocks to watch.
On March 4, 2013, Infinity Augmented Reality, Inc.entered into a number of agreements with various parties which all agreed to provide certain aspects of the technology needed to implement the paper idea becoming a reality. In return for their participation, each of the below listed groups was granted options which vested on the date of the agreement, all of which are executable at $0.10 each:
|Agam Technologies LLC
|Gili Revensary/GiliTech LLC
|SmartEyes Technologies LLC
|XO Marketing LLC
Beyond the 22.5 million options issued that can be exercised at $0.10, would raise as much as $2.25 million for the emerging development stage company. Much more than the CEO’s piggy bank, Credit Strategies, LLC, which currently claims ownership to 4,896,169 (5.3% of the issued and outstanding as of January 22, 2013).
Oratz, the sole member of CS Master Holdings LLC, granted Platinum Partners Value Arbitrage Fund, L.P. and Credit Strategies LLC transferable options to acquire an aggregate of 20,000,000 shares of ALSO stock at an exercise price of $0.005 per share.
Companies like Google, Vuforia and Lumus are in the process of developing augmented reality glasses that will change the way users see and interact with the world. All that Infinity Augmented Reality will be able to do is sell the story while the insiders indirectly dilute shares of ALSO stock into OTC land between now and the time they need to file their next 10-Q.
About ALSO Stock
Infinity Augmented Reality, Inc. intends to develop a comprehensive augmented reality platform for consumers and establish itself firmly as a preeminent source for state-of-the-art augmented reality experiences, forging a strong association, early on, between the Infinity brand and the burgeoning medium.
Last 5 Trading Sessions:
Bottom Line: ALSO is on the list of penny stocks to watch for a number of front loaders who make a living off of getting in front of a promotion. With the whole story looking much like the SMA pick of last year, SEFE, ALSO stock should be on target to see some interesting trading sessions for the duration of March and likely all of April.
Note: The SEFE stock promotion began at the beginning of April, 2012. It posted gains of 270% before dipping more than -50% and falling off.
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