$CETX Cemtrex Provides an Update of Their VR Adapt
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Posted On: 05/01/2019 2:48:05 PM
$CETX Cemtrex Provides an Update of Their VR Adaptation of Popular Science Fiction Series, Star Force
Long Island City, NY, March 05, 2019 (GLOBE NEWSWIRE) -- Cemtrex Inc. (Nasdaq: CETX, CETXP, CETXW), a leading global technology and company, today announced that the virtual reality (VR) adaptation of B.V. Larson’s Star Force is now fully in production with a playable BETA release for select testers slated for this summer. Character design and core gameplay mechanics were finalized in the last two weeks, allowing the team to move forward with full production, story development and in-depth VR development of environments, characters and other key components.
Cemtrex Inc. (Nasdaq: CETX, CETXP, CETXW), a leading global technology and company, today announced that the virtual reality (VR) adaptation of B.V. Larson’s Star Force is now fully in production with a playable BETA release for select testers slated for this summer.
The VR title is an adaptation of B.V. Larson’s popular Star Force series, an action-packed Sci-Fi opera in which everyday characters are called to save humanity from deadly extra-terrestrial machines. The VR adaptation will focus on the series’ first novel, Swarm, in which Earth must overcome a swarm of alien attacks.
Star Force’s VR adaptation is scheduled for release in Fall 2019, and will be available for the Oculus Rift, HTC Vive as well as the forthcoming Oculus Quest.
“B.V. Larson’s novels have garnered millions of readers and we are thrilled to bring his stories to life in a groundbreaking and compelling fashion,” said Saagar Govil, CEO and Chairman of Cemtrex. “The ability to bring the written word into an immersive and engaging medium like this VR experience is unlike anything that’s been done on this scale. We see this as a revolutionary form of storytelling and Star Force is an excellent title to begin with.
“We have put many of our resources that were allocated and assets developed for the previously announced Ultra85 into this game not only to expedite the Star Force release, but also to ensure we provide the best experience possible for VR gamers and Star Force’s loyal fanbase alike. In doing so, we have decided to focus on Star Force solely and put Ultra85 on hold for now.”
The VR market is growing rapidly: IDC projects a compound annual growth rate (CAGR) of 69.6% over the next five years. According to IDC, the growth of virtual reality will impact numerous sectors, including consumer services ($1.6 billion), retail ($1.56 billion), and discrete manufacturing ($1.54 billion) in 2019. By 2025, Grand View estimates that VR gaming will reach $45.09 billion USD.
“We firmly believe that VR & AR will change personal computing in profound ways as the technology reaches a critical mass over the next few years. We are positioning Cemtrex to be a key content creator and software provider for these markets by getting into these markets at the ground floor. Similar to how the mobile gaming industry quickly evolved into a multibillion-dollar market we see parallels in VR gaming as well. In 18 months, we created a new business unit with SmartDesk that is now gaining traction and our goal is to have an equally attractive VR business unit with multiple products 18 months from now,” continued Mr. Govil.
To learn more, please visit cemtrexvr.com.
About Cemtrex
Cemtrex, Inc. (CETX) is the manufacturer of the SmartDesk, the world’s most advanced workstation. Cemtrex is a diversified technology company that's driving innovation in a wide range of sectors, including smart technology, virtual and augmented realities, advanced electronic systems, industrial solutions, and intelligent security systems.
http://www.cemtrex.com
Safe Harbor Statement
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to our new product offerings or any proposed fundraising activities. These forward-looking statements are based on management's current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward looking statements. These risks and uncertainties include, but are not limited to: operational losses and negative cash flows; any need for additional financing; market acceptance of our products; our ability to manufacture and develop effective products and solutions; indebtedness to our lenders; current and future economic conditions that may adversely affect our business and customers; potential fluctuation of our revenues and profitability from period to period which could result in our failure to meet expectations; our ability to maintain adequate levels of working capital; our ability to incentivize and retain our current senior management team and continue to attract and retain qualified scientific, technical and business personnel; our ability to expand our product offerings or to develop other new products and services; our ability to generate sales and profits from current product offerings; rapid technological changes and new technologies that could render certain of our products and services to be obsolete; competitors with significantly greater financial resources; introduction of new products and services by competitors; challenges associated with expansion into new markets; and, other factors discussed under the heading "Risk Factors" contained in our Form 10-K filed with the Securities and Exchange Commission. All information in this press release is as of the date of the release and we undertake no duty to update this information unless required by law.
Attachment
StarForce VR
Investor Relations
Cemtrex, Inc.
Phone: 631-756-9116
investors@cemtrex.com
General Inquiries
sales@cemtrex.com
Source: Cemtrex Inc.
Long Island City, NY, March 05, 2019 (GLOBE NEWSWIRE) -- Cemtrex Inc. (Nasdaq: CETX, CETXP, CETXW), a leading global technology and company, today announced that the virtual reality (VR) adaptation of B.V. Larson’s Star Force is now fully in production with a playable BETA release for select testers slated for this summer. Character design and core gameplay mechanics were finalized in the last two weeks, allowing the team to move forward with full production, story development and in-depth VR development of environments, characters and other key components.
Cemtrex Inc. (Nasdaq: CETX, CETXP, CETXW), a leading global technology and company, today announced that the virtual reality (VR) adaptation of B.V. Larson’s Star Force is now fully in production with a playable BETA release for select testers slated for this summer.
The VR title is an adaptation of B.V. Larson’s popular Star Force series, an action-packed Sci-Fi opera in which everyday characters are called to save humanity from deadly extra-terrestrial machines. The VR adaptation will focus on the series’ first novel, Swarm, in which Earth must overcome a swarm of alien attacks.
Star Force’s VR adaptation is scheduled for release in Fall 2019, and will be available for the Oculus Rift, HTC Vive as well as the forthcoming Oculus Quest.
“B.V. Larson’s novels have garnered millions of readers and we are thrilled to bring his stories to life in a groundbreaking and compelling fashion,” said Saagar Govil, CEO and Chairman of Cemtrex. “The ability to bring the written word into an immersive and engaging medium like this VR experience is unlike anything that’s been done on this scale. We see this as a revolutionary form of storytelling and Star Force is an excellent title to begin with.
“We have put many of our resources that were allocated and assets developed for the previously announced Ultra85 into this game not only to expedite the Star Force release, but also to ensure we provide the best experience possible for VR gamers and Star Force’s loyal fanbase alike. In doing so, we have decided to focus on Star Force solely and put Ultra85 on hold for now.”
The VR market is growing rapidly: IDC projects a compound annual growth rate (CAGR) of 69.6% over the next five years. According to IDC, the growth of virtual reality will impact numerous sectors, including consumer services ($1.6 billion), retail ($1.56 billion), and discrete manufacturing ($1.54 billion) in 2019. By 2025, Grand View estimates that VR gaming will reach $45.09 billion USD.
“We firmly believe that VR & AR will change personal computing in profound ways as the technology reaches a critical mass over the next few years. We are positioning Cemtrex to be a key content creator and software provider for these markets by getting into these markets at the ground floor. Similar to how the mobile gaming industry quickly evolved into a multibillion-dollar market we see parallels in VR gaming as well. In 18 months, we created a new business unit with SmartDesk that is now gaining traction and our goal is to have an equally attractive VR business unit with multiple products 18 months from now,” continued Mr. Govil.
To learn more, please visit cemtrexvr.com.
About Cemtrex
Cemtrex, Inc. (CETX) is the manufacturer of the SmartDesk, the world’s most advanced workstation. Cemtrex is a diversified technology company that's driving innovation in a wide range of sectors, including smart technology, virtual and augmented realities, advanced electronic systems, industrial solutions, and intelligent security systems.
http://www.cemtrex.com
Safe Harbor Statement
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to our new product offerings or any proposed fundraising activities. These forward-looking statements are based on management's current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward looking statements. These risks and uncertainties include, but are not limited to: operational losses and negative cash flows; any need for additional financing; market acceptance of our products; our ability to manufacture and develop effective products and solutions; indebtedness to our lenders; current and future economic conditions that may adversely affect our business and customers; potential fluctuation of our revenues and profitability from period to period which could result in our failure to meet expectations; our ability to maintain adequate levels of working capital; our ability to incentivize and retain our current senior management team and continue to attract and retain qualified scientific, technical and business personnel; our ability to expand our product offerings or to develop other new products and services; our ability to generate sales and profits from current product offerings; rapid technological changes and new technologies that could render certain of our products and services to be obsolete; competitors with significantly greater financial resources; introduction of new products and services by competitors; challenges associated with expansion into new markets; and, other factors discussed under the heading "Risk Factors" contained in our Form 10-K filed with the Securities and Exchange Commission. All information in this press release is as of the date of the release and we undertake no duty to update this information unless required by law.
Attachment
StarForce VR
Investor Relations
Cemtrex, Inc.
Phone: 631-756-9116
investors@cemtrex.com
General Inquiries
sales@cemtrex.com
Source: Cemtrex Inc.
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