LOS ANGELES and HONG KONG, Jan. 10, 2011 /PRNewswire-Asia/ -- Artificial Life, Inc., (OTC Bulletin Board: ALIF) today announced that it has agreed with 3M Company ("3M": NYSE: MMM) to launch three distinct pilot projects to co-develop innovative joint mobile products in 2011.
3M (MMM) invested approximately $6.5 mm in October 2009 to acquire an equity stake of 10% in Artificial Life (ALIF), Inc. In addition, 3M and Artificial Life had entered into an alliance agreement outlining their intent to collaborate in the coming years on projects related to the research and development of new mobile device products and technology.
The parties intend to develop three pilot projects comes after a paid evaluation period of approximately 14 months during which Artificial Life had developed several show case and prototype mobile and augmented reality applications for a number of business units of 3M globally.
"We are honored that 3M has positively concluded the evaluation of our technology and decided to launch three pilot projects with us in the first quarter of 2011. We are looking forward to working with 3M on these projects and hopefully many more in the coming years," said Eberhard Schoneburg, CEO of Artificial Life, Inc.
About Artificial Life, Inc.
Artificial Life, Inc. has been a pioneer in artificial intelligence and mobile technology since its inception in Boston in 1994. We are a public US corporation (listed on OTC BB with ticker symbol: ALIF or ALIF.OB) registered in Delaware with a secondary listing on the Frankfurt Stock Exchange (AIF.F; Xetra: AIF.DE) and headquarters and production center in Hong Kong. We have additional offices in Berlin, Germany (EMEA headquarters), Los Angeles, USA and Tokyo, Japan. Currently our main business areas are: high quality (3D) interactive (massive multiplayer) mobile games, mobile participation television, mobile business applications, our powerful mobile commerce technology platform OPUS-MTM and our green IT solutions provided by Green Cortex, Inc. We have won many industry awards for our outstanding technology and products.
For more information about Artificial Life, Inc., please visit our website www.artificial-life.com or our products websites: www.botme.com, www.mopa-tv.com, www.green-cortex.com and www.opus-m.com
Forward-Looking Statements:
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include, without limitation, statements regarding our future results of operations, financial condition and business prospects. In some cases, you can identify forward-looking statements by terminology such as "may", "will", "should", "expect", "intend", "plan", "anticipate", "believe", "estimate", "predict", "potential", "continue" or the negative of these terms or other comparable terminology. Although such statements are based on our own information and information from other sources we believe to be reliable, you should not place undue reliance on them. These statements involve risks and uncertainties, and actual market trends or our actual results of operations, financial condition or business prospects may differ materially from those expressed or implied in these forward looking statements for a variety of reasons. Potential risks and uncertainties include, but are not limited to, our ability to obtain additional funding to operate and grow our business; the unproven potential of our mobile gaming business model; changing consumer preferences and uncertainty of market acceptance of our products; timely adoption and availability of 3G mobile technology; market acceptance for use of mobile handheld devices to play the interactive games; unpredictable mobile game development schedules; our reliance on a relatively small number of brands; our ability to license brands from others; our dependence upon resellers and telecommunication carriers and operators to distribute our products; our ability to successfully develop, introduce, and sell new or enhanced products in a timely manner; and the timing of new product announcements or introductions by us or by our competitors. For additional discussion of these risks and uncertainties and other factors, please see the documents we file from time to time with the Securities and Exchange Commission, including our Annual Report on Form 10-KSB filed on February 10, 2009. We assume no obligation to update any forward-looking statements, which apply only as of the date of this press release.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy Artificial Life's common stock.
| Contact: |
| Artificial Life, Inc. |
| Adeline Law |
| +852-3102-2800 |
| ir@artificial-life.com |
