Robotic Assistance Devices Indicates that Momentum for Products Accelerates - Receives Multiple Orders

Article Stock Quotes (1)

FREE Breaking News Alerts from StreetInsider.com!

StreetInsider.com Top Tickers, 4/25/2024

1. META
2. CMG
3. LRCX
4. IBM
5. SPY

6. HCP
7. BSX
8. NOW
9. PI
10. ORCL

Get Alerts AITX Hot Sheet

Price: $0.00 --0%

Join SI Premium – FREE

HENDERSON, Nev.--(BUSINESS WIRE)-- Artificial Intelligence Technology Solutions, Inc., (OTCPK: AITX), today announced that its wholly-owned subsidiary Robotic Assistance Devices (RAD) is experiencing an acceleration of activity and demand across all product offerings.

In late January, through a press release, RAD announced new orders for their ROSA and AVA Autonomous Remote Services solutions. Today the company announces additional new orders and new channel partners.

"It was only a few weeks ago that I commented that 2021 was off to a great start for RAD. I’d like to reaffirm that and say that February is on course to be remarkable for the company,” said Steve Reinharz, Founder and President of RAD. “These are big steps in our goal of becoming a ubiquitous part of every facility services program.”

Two new authorized dealers have been announced, NexGen Security Solutions in Oakville, Ontario, Canada and Servexo Protective Services, headquartered in Gardena, California. These boutique dealers join the largest security companies in the world as RAD dealers. Furthermore RAD has signed up an additional four independent sales consultants.

Since signing with RAD, NexGen Security Solutions has ordered a total of five RAD devices, consisting of two ROSAs, one Wally and two AVA units. According to the company, the AVA units will be deployed at a logistics end-user in the greater Toronto area, while the ROSAs will take up positions at an auto dealership and a residential community.

A Southern California RAD dealer also placed an AVA order within the last week.

Additionally, repeat orders for two new ROSA units have been received from Midway Auto Group, a Southern California auto reseller with fifteen locations. The first two ROSA units previously deployed have been successful and this is the first of what can be several follow on orders.

The construction company that previously ordered two ROSA units has recently placed an additional three orders.

Furthermore, the company announces it is in final negotiations with a Fortune 100 company to deploy an additional nine (9) Wally with Health Screening Option (WHSO) solutions to that company’s current two (2) WHSO units. These expansion purchases will provide a substantial lift to AITX’s fiscal first quarter revenues. The company will make a separate announcement when this agreement is confirmed.

“Our fiscal year-end is February 28 and it appears likely that this will be the best order intake month in RAD’s history,” Reinharz continued. “There remain several significant opportunities that I expect we will close this month.”

CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements in this news release other than statements of historical fact are "forward-looking statements" that are based on current expectations and assumptions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the statements, including, but not limited to, the following: the ability of Artificial Intelligence Technology Solutions to provide for its obligations, to provide working capital needs from operating revenues, to obtain additional financing needed for any future acquisitions, to meet competitive challenges and technological changes, and other risks. Artificial Intelligence Technology Solutions undertakes no duty to update any forward-looking statement(s) and/or to confirm the statement(s) to actual results or changes in Artificial Intelligence Technology Solutions expectations.

About Artificial Intelligence Technology Solutions (AITX)

AITX is an innovator in the delivery of artificial intelligence-based solutions that empower organizations to gain new insight, solve complex challenges and fuel new business ideas. Through its next-generation robotic product offerings, AITX’s RAD and RAD-M companies help organizations streamline operations, increase ROI and strengthen business. AITX technology improves the simplicity and economics of patrolling and guard services, and allows experienced personnel to focus on more strategic tasks. Customers augment the capabilities of existing staffs and gain higher levels of situational awareness, all at drastically reduced cost. AITX solutions are well suited for use in multiple industries such as enterprises, government, transportation, critical infrastructure, education and healthcare. To learn more, visit www.roboticassistancedevices.com or follow us on Twitter @RADbotsecurity.