The Board of Directors of Thred Ltd. is very pleased to announce its new technology and business model ­ Sweep, a consumer app, and Agent Reality, white label solution for enterprise. Sweep is a revolutionary new technology application for mobile that will lead the Augmented Reality innovation space, building on the technology platform created by Thred. Supporting the Sweep technology is a new business model which the company is implementing. Augmented Reality (AR) technologies are signalled to experience phenomenal growth particularly in the ecommerce and retail space, with the market expected to reach USD 165 billion by 2024. AR turns the surrounding environment into a digital interface by placing virtual objects in the real world, inreal – time. Major technology players such as Apple and Google have led the technology trend with the recent launch of their new mobile devices and operating systems that enable augmented reality applications, creating a multi-billion-dollar market. Capitalizing on this significant market opportunity, Sweep will utilize the features of the new generation of mobile software, to provide users with an AR experience that is coupled with geo-location features. The development of a mobile application of this nature, is significant and will deliver extensive market potential with everyday users' and enterprises opportunities across a wide range of industries including retail, foodservice and mining. The company anticipates a soft launch of Sweep next month, with revenues expected as early as fourth quarter of 2017.