Ubiquity Inc (OTCMKTS:UBIQ) yesterday filed its first press release in almost 2-months time. The company announced that it would be delivering a premier platform for the global virtual, augmented and mixed reality markets. The management stated that recent events suggest that this market is expected to hit $150 billion, by 2020. As such, UBIQ has developed the Sprocket platform to target every possibility in this new emerging market.
The company stated that the Sprocket platform has been developed to allow consumers to seamlessly access their desired destinations and applications through all kinds of VR/MR/AR devices. Moreover, developers have the option to access the platforms SDK’s to build their own applications. Chris Carmichael, the Chief Creative Architect of Ubiquity, claimed that the aim of the company was to redefine the barriers between the physical location and the audience. He also expressed his confidence in the ability of these products and services to contribute to the growth of Ubiquity’s products and the use of their patented technology.
UBIQ believes that its Sprocket platform would serve as a layer of support for the development, adoption and deployment of new VR/MR/AR devices. Mr. Carmichael also claimed that these experiences would define the future of communication and collaboration, disrupting the current standards, with new limitless possibilities. The update helped the company’s stock add over $0.1 to its share value, only to decline during the same session.
Earlier, on August 16, Ubiquity had announced the appointment of Bola Ajere to its board of directors. Mr. Ajere is a veteran of the technology industry and a former partner of the Big Four. Currently, he is the CEO of AMC Consulting Group, a technology and management consulting firm, in Los Angeles. Mr. Carmichael expressed his pleasure at the appointment and stated that the management was looking forward to leveraging the expertise of Mr. Ajere. He also hinted that the company planned to add more senior board members, as the company moved ahead with its development plans.
Ubiquity Inc (OTCMKTS:UBIQ) closed at a share price of $0.36, at the end of the October 12 trading session, 12.5% higher than the session before, on a trade volume of 564,291.