Mr. Shadnam Khan reports

ARWAY.AI LAUNCHES SAAS BUSINESS MODEL, ANTICIPATES INCREASED ADOPTION, REVENUE, AND EXPANSION

ARway Corp. has transitioned to a SaaS (software as a service) business model and is now able to offer its starter and developer user plans through self-serve sign-up. This automation of the sales process will result in increased revenue, expanded distribution channels, increased usage and traction, and is timed perfectly with future developments in ARway technology and the spatial computing industry. ARway is already gaining popularity with developers, partners and enterprise clients, and the addition of SaaS will further the quick adoption of the company's easy-to-use platform with this automated sales experience. To date in 2023, ARway has approx 2,800 (plus-975-per-cent increase) and 35 active trials and pilots (plus-1,450-per-cent increase).

ARway's chief executive officer, Evan Gappelberg, commented, "While ARway is gaining momentum with enterprise sales supported by a pipeline of almost $3-million in potential business, we thought the timing is now to launch a SaaS offering." He continues, "The SaaS offering is going to not only provide us with substantial revenue opportunities but also introduce the ARway platform to students and developers who represent the creator community which is very important for our business."

ARway currently offers five distinct plans: starter, student, developer, partner and corporate.

The starter plan is a free subscription trial with limited features and usage for users interested in learning with the platform. This plan is targeted to new users who want to create their first spatial experience with the ARway template.

The student plan is an exclusive program for all registered post-secondary students to access the ARway developer plan at a reduced rate.

The developer plan is targeted toward users looking to build a mobile application using ARway's SDK, create their own custom brand and pitch their mobile app powered by ARway to their customers, which include partners and corporations. Pricing for the developer plan is a one-time activation fee of $249 (U.S.).

The partner plan is designed for agencies and system integrators to develop spatial experiences for their clients.

The corporate plan provides a customized fully integrated solution for corporations who are looking to scale their spatial experiences. Partner and corporate plans range from $5,000 to $250,000 in annual licensing fees which include both trials and pilots.

To date in 2023, ARway.ai has experienced significant growth, amassing a user base of over 2800 free active users. The immediate focus is on converting these users into paying developer plan subscribers. Additionally, the company currently has 35 active trials and pilots under way and the objective is to convert these opportunities into contracts, with potential values ranging from $5,000 to $250,000.

Shadnam Khan, chief product officer of ARway.ai, commented: "With our meticulously crafted starter, student, developer, partner and corporate plans, we're opening up new possibilities, flexibility and accessibility to a diverse range of clients. From individuals venturing into spatial computing to developers with AR projects, agencies, and system integrators, and corporations seeking fully integrated solutions, ARway's SaaS model empowers everyone to create, innovate and scale their spatial experiences like never before. Get ready to embark on an exhilarating journey with ARway, where immersive navigation meets boundless opportunities."

Board of directors and audit committee changes

The company would also like to announce the appointment of Anthony Pizzonia, CPA, to the board of directors and as a member of the audit committee. Mr. Pizzonia has over 30 years of experience in operating, financing and business development within the public markets and has a demonstrated ability to manage financial and operational challenges within dynamic and growing businesses. Mr. Pizzonia currently serves as senior director of finance for GS1, a global standards organization. Previously, Mr. Pizzonia held a variety of positions with increasing responsibility for over 24 years, at AlarmForce Industries, one of the largest residential security companies in North America. He ultimately served as director and chief financial officer from 1992 to 2016 and eventually president before the company was acquired by Bell Canada (BCE) in September, 2017. Mr. Pizzonia was also chief financial officer of ImaginAR, a publicly traded technology company that provides a self-publishing platform that integrates with a mobile app to instantly create augmented reality campaigns. Mr. Pizzonia is chartered public accountant and holds an honours bachelor of administrative studies degree from York University.

About ARway Corp.

ARway is a spatial computing platform powered by artificial intelligence (AI) providing an array of augmented reality (AR) experiences for indoor spaces.

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