New Risk • May 18
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 24% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks No financial data reported. Share price has been highly volatile over the past 3 months (21% average weekly change). Market cap is less than US$10m (CA$4.37m market cap, or US$3.13m). Minor Risk Shareholders have been diluted in the past year (24% increase in shares outstanding). Board Change • Mar 17
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Director Alexandros Tzilios was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Jan 28
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 20% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks No financial data reported. Share price has been highly volatile over the past 3 months (20% average weekly change). Market cap is less than US$10m (CA$9.19m market cap, or US$6.39m). Duyuru • Oct 08
XR Immersive Tech Inc. Announces Board Changes XR Immersive Tech Inc. announced the appointment of Shawn Mayzes to its Board of Directors, effective immediately. Shawn brings a powerful blend of technical expertise, strategic vision, and leadership experience, making him a key addition to the company's growing leadership team. Shawn Mayzes is widely recognized for his ability to align technology with overarching business goals, driving impactful results that enhance growth and operational efficiency. With experience as a Technical Leader in both startups and established companies, Shawn has consistently demonstrated his talent for guiding teams through complex technological landscapes while delivering measurable business outcomes. In addition to his technical acumen, Shawn is a dedicated mentor and advocate for inclusive and transparent workplace practices. He fosters a culture of idea-sharing, calculated risk-taking, and learning from failures--key traits that align with XR Immersive's innovative ethos. His commitment to professional development has made him a pivotal figure in the careers of many rising leaders in the tech industry, earning him widespread recognition as an inspiring mentor. Additionally, the Company announces the departure of Shafin Diamond Tejani from its Board of Directors. Duyuru • Aug 25
XR Immersive Tech Inc., Annual General Meeting, Nov 02, 2023 XR Immersive Tech Inc., Annual General Meeting, Nov 02, 2023. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 4 non-independent directors. Independent Director Alexandros Tzilios was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Aug 21
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Director Alexandros Tzilios was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Duyuru • Aug 18
XR Immersive Tech Inc. Announces Board Changes XR Immersive Tech Inc. announced that VR Industry veterans and founders of SynthesisVR, Shabeer Sinnalebbe and Kamen Petrov, have agreed to join the Board of Directors. Both Shabeer and Kamen have made a profound impact in the VR Industry achieving many important industry firsts along the way, including establishing one of the world's first VR arcade center in Los Angeles in 2016. Since then, the pair have continued to pioneer the next generation of room-scale, free roam, racing simulators, coin-op, online widgets and payments, education, online business VR environments, and enterprise experiences. Shabeer and Kamen have shown that their vision, drive and understanding of the intricacies of the industry are driving factors in the growth of not only SynthesisVR and its own technological development, but also to XR Immersive and its products and services as well. XR Immersive Tech's Board of Directors is confident that their leadership will yield ongoing success for the Company. Shabeer and Kamen will replace Alvin Wang Graylin and Cathy Hackl on the Board. The Company would like to thank Alvin and Cathy for their contributions on the board over the past 15-months and wish them both well in their future endeavors. The Company is committed to delivering strong corporate governance, and will continue to bolster its Board of Directors with members who enhance the already deep skill set represented by the existing Board members. Duyuru • Aug 03
XR Immersive Tech Inc. Announces SynthesisVR Android Platform XR Immersive Tech Inc. announced that SynthesisVR Android Platform has officially launched and is currently available to the Company’s operator network worldwide. After many months of testing and feedback from partners are pleased to announce that the SynthesisVR Android Platform is now officially live. This industry-first Android-based VR headset wireless streaming solution enables operators to access commercially licensed games in SynthesisVR marketplace, as well as educational and enterprise content for the Meta Quest 2 VR headset. The platform immediately provides six Android-based free roam arena and room scale games for the popular Quest 2 device. In addition, operators are now able to launch content, control and track bookings and sessions on all Android-based VR Headsets such as Vive Focus 3, Pico Neo 3 Pro, and Quest 2 from one centralized location to make operations simple, effective, and reliable. The SynthesisVR Android Platform is a great addition to the VR operation arsenal the Company now offers including the recently announced partnership with QuarkXR (read more details here), an industry first Android VR streaming solution for all PC-based VR content. With the launch of the SynthesisVR Android Platform, are excited to introduce six new games now available to the Company’s operator network for the Quest 2 headset. Three multiplayer room scale games; Axe Throwing VR, Sairento VR, and Epic Roller Coasters and three multiplayer free roaming arena experience; MissionX, Cops VS Robbers, and Oddball. The SynthesisVR Platform is constantly expanding with new experiences to appeal to a wide range of gamers and VR enthusiasts alike. Utilizing the SynthesisVR Platform, operators are now able to control all VR Headsets whether PC based or Android Standalone based from one central PC, refining a process that has previously been a sore point in the industry for VR Arcade operators. However, having recognized that this was a problem, the SynthesisVR team created a simple, effective and headset agnostic solution for their operator network and beyond. Duyuru • Jun 22
XR Immersive Tech Inc. Launches Its Uncontained VR Attraction At Playland Amusement Park XR Immersive Tech Inc. announced that the company's UNCONTAINED Hyper-Immersive VR attraction officially launches with its first client. UNCONTAINED will be available for guests to enjoy for the first time this summer beginning on July 7, 2022 at one of British Columbia's most popular family attractions, Playland Amusement Park as well as the large ticketed event in BC, the annual PNE Fair in Vancouver. Playland Amusement Park and the PNE Fair draw visitors of all ages from across British Columbia and around the world. Established in 1910, the PNE sits on 114 acres of land housing Canada's oldest amusement park, Playland, along with one of the world's top heritage roller coasters, the Playland Wooden Coaster. During its operating season of June to September every year the Playland Amusement Park hosts over 300,000 guests and throughout the year an average of over 3 million visitors will visit Hastings Park. This cooperation with Playland aims to offer a first-look at UNCONTAINED and the game: Deep Signal. Playland guests will be able to enjoy hyper-immersive features including heat and cold environmental effects, haptic feedback on consoles, rumble/motion floor, and devices, as well a first ever XR spatial audio system to really engage. This full game experience is, in terms of technical and gameplay senses, unique and ideal for deployment anywhere that has the equivalent of 5 parking spots whether outdoor or indoor standalone application. Just add power and get to playing. Duyuru • May 13
XR Immersive Tech Inc. Tech Completes Production Version of its UNCONTAINED VR Attraction XR Immersive Tech Inc. announced the completion of the production version of its highly anticipated hyper-immersive VR attraction UNCONTAINED. With the completion of the updated production version the Company is ready to go to market and begin to execute on its list of Letters of Intent (LOI), beginning with the LOIs signed on December 9, 2021, and April 7, 2021, for UNCONTAINED attractions to be installed with US-based customers. XR Immersive Tech’s UNCONTAINED Hyper-Immersive VR attraction has moved steadily through its concept to prototype phases, and we’re pleased to announce that the commercial production model has completed its testing and refinement stages and is now ready for market launch. In terms of advancements since the prototype was revealed at the IAAPA global attractions expo in Orlando, Florida, its team has optimized every aspect of this second unit’s interior and exterior features. This includes improvements to all hyper-immersive control systems in both player arena bays, the physical and environmental haptics effects, the addition of a fourth player console in each player bay, and all new physical hands on controls which are contributing to a much higher level of player engagement and immersion. The Company’s in-house game design team has made numerous revisions to the first UNCONTAINED game experience titled Deep Signal VR (click to view the cinematic game trailer) which takes players deep into an unexplored star system to investigate a mysterious burst of dangerous cosmic energy. As a true social VR experience team of up to three players per player bay (total 6-players) will be tasked with taking command of the experimental Pathseeker spaceship, controlling everything from weapon systems, repair tools, drones, and more in a fight against forces beyond human comprehension. The level of hyper-immersion players will experience within has never been accomplished before at this depth and level. By combining a compelling story with player agency and consequences supported by real-world feedback features that can be felt within cockpit, this is a game unlike any other. With an incredible range of effects, including floor rumblers replicating flight and movement, scent to reinforce environmental changes, ambient headphone free audio, heat and cool effects, pneumatic air blasts, to name some, the degree of immersion aims to make the experience as engaging, memorable, and filled with as many wows as possible. Duyuru • Apr 08
XR Immersive Tech Inc. Launches Operator Program for Crypto Mining on Uncontained Platform XR Immersive Tech Inc. announced their new beta program which will allow operators to harness the GPU power of the high performance workstations within the UNCONTAINED Hyper-Immersive™ VR attractions, dubbed the Physical Portal to the Metaverse, as outlined in the Company’s recent Corporate Update press release. This solution will enable operators to opt into the program and automatically mine while the attraction is not in use and in off-hours. At the core, the collective power of UNCONTAINED installed units will form a highly capable and scalable mining network that is centrally managed by XR Immersive Tech. Utilizing the high performance power of Nvidia GeForce RTX 30 Series graphics cards installed in the UNCONTAINED VR Hyper-Immersive™ attractions, operators will have the option to enable and allocate these powerful machines for so much more than running VR experiences. Mining in off-hours takes full advantage of the computer horsepower installed within the UNCONTAINED attraction to drive additional revenue opportunities for operators while also driving revenue for the company. Further, it’s a step forward within the company to further its crypto based endeavors, and build out further knowledge and partnerships in blockchain technologies. Crypto mining enthusiasts agree that the Nvidia GeForce RTX 30 series GPU cards are one of the most efficient, with the highest hash rates for mining on the market. The solution will allow operators to easily opt-in and requires no set up on their end or prior knowledge of crypto mining. XR Immersive Tech’s network management procedure for these mining locations will ensure a simple and reliable protocol for operators to effectively switch between the gaming and mining backend modes or simply automate mining for overnight closed hours. In addition to these coins, XR Immersive Tech will review and add new coins based on market assessment. Duyuru • Feb 04
XR Immersive Tech Inc. Files Two Full Patent Applications for its Hyper-Immersive Standalone VR Technology XR Immersive Tech Inc. announced that on January 19, 2022, it filed two full patent applications for its patent-pending technology with the Canadian Intellectual Property Office. These applications add to the Company's growing patent portfolio as the Company has previously filed U.S. provisional patent applications for its technology. The Company elected to file these Canadian patent applications in priority to U.S. Patent office filings, to further protect its valuable intellectual property as it continues to innovate and pursue development of cutting edge VR/AR technology to support sales growth and opportunities for both clients looking to provide hyper-immersive experiences and for creators of the Metaverse. The first Canadian patent application is titled "System and Method for Plug and Play VR" and covers the overall UNCONTAINED VR gaming package including, but not limited to, customer viewing, on-site installation, overall coordination, competitive gameplay, blockchain-based rewards tokens and integration of all these features with immersive effects. The second Canadian patent application is titled "System and Method for Immersive Effects" and covers Immersive Tech's unique intellectual property around providing immersive effects for different experiences which include, but are not limited to, virtual reality gaming. Duyuru • Sep 21
Fantasy 360 Technologies Inc. (CNSX:VRAR) signed a binding letter of intent to acquire Synthesis VR Inc. for CAD 7.4 million. Fantasy 360 Technologies Inc. (CNSX:VRAR) signed a binding letter of intent to acquire Synthesis VR Inc. for CAD 7.4 million on September 17, 2021. As part of consideration, Fantasy 360 will pay an aggregate purchase price of CAD 4.8 million as follows: (i) CAD 500,000 in cash with CAD 0.15 million payable upon closing, CAD 0.05 million payable on January 1, 2022, and a further CAD 0.3 million payable upon the completion of certain milestones; and (ii) common shares of the Fantasy 360 with an aggregate value of CAD 4.3 million. In addition, subject to applicable laws and the policies of the Canadian Securities Exchange, Fantasy 360 may issue additional Fantasy 360 Shares with an aggregate value of up to CAD 5 million upon the achievement of certain mutually agreed upon performance milestones. The transaction is subject to applicable laws and the policies of the Canadian Securities Exchange.