Artificial Intelligence Technology Solutions, Inc., (OTCPK:AITX), today announced that its wholly owned subsidiary, Robotic Assistance Devices, Inc. (RAD) has received several orders and signed one new authorized dealer in the closing days of its fiscal quarter which ended August 31, 2022.
The Company expects to publish its comprehensive 10-Q Quarterly Report by September 15, 2022.
In the final days of the quarter, four ROSA security robots were ordered by The Richman Group, parent company of Citrus Construction, an existing RAD client with several ROSA units deployed. ROSA’s value and performance in securing Citrus Construction’s job sites was featured in a published Case Study.
“RAD strives to deliver a best-in-class customer service experience,” said Mark Folmer, President at RAD. “When a client orders additional units and expands across other properties, that’s proof that we are delivering both quality and value.”
Two AVA units have also been ordered through one of RAD’s recently signed authorized dealers. These AVA devices will be deployed at one of the dealer’s end-user locations providing autonomous vehicle and visitor controlled access, replacing traditional and costly security guarding personnel at access gates.
RAD has also signed one new authorized dealer, a regional security services provider located in southern Michigan. This dealer has ordered one ROSA device for demonstration purposes. The Company expects to provide additional details regarding this dealer in the coming weeks.
“August 2022, and the 2nd quarter have proven to be RAD’s best order intake periods in our history,” said Steve Reinharz, CEO of AITX and RAD. “RAD’s dealer network has expanded nicely, the sales funnel is full of great opportunities, the product mix is ideal, and the response to our newest products RIO and ROSA-P has been outstanding. I expect that we will have a few announcements soon regarding the order activity and rollouts of these new additions,” Reinharz concluded.
RAD’s parent company AITX has filed for uplisting to the OTCQB. Future announcements will be made regarding the status of the OTCQB application.
ROSA is a multiple award-winning, compact, self-contained, portable, security and communication solution that can be deployed in about 15 minutes. Like other RAD solutions, it only requires power as it includes all necessary communications hardware. ROSA’s AI-driven security analytics include human, firearm, vehicle detection, license plate recognition, responsive digital signage and audio messaging, and complete integration with RAD’s software suite notification and autonomous response library. Two-way communication is optimized for cellular, including live video from ROSA’s dual high-resolution, full-color, always-on cameras. RAD has published two Case Studies detailing how ROSA has helped eliminate instances of theft, trespassing and loitering at car rental locations and construction sites across the country.
AVA (Autonomous Verified Access) is a compact and stanchion mountable unit that provides an edge-to-edge 180° field of vision with advanced access control over gates and other controlled points of entry. AVA takes full advantage of the RAD Software Suite providing an ideal solution for logistics and distribution centers, storage yards, parking structures and lots, corporate campuses; anywhere that increased visibility is needed at a fraction of the cost. At ISC West in late March, AVA was named a winner of the 2022 SIA New Products and Solutions Awards in the category of Access Control Software, Hardware, Devices and Peripherals.
Robotic Assistance Devices (RAD) is a high-tech start-up that delivers robotics and artificial intelligence-based solutions that empower organizations to gain new insight, solve complex security challenges, and fuel new business ideas at reduced costs. RAD developed its advanced security robot technology from the ground up including circuit board design, and base code development. This allows RAD to have complete control over all design elements, performance, quality, and the user’s experience of all security robots whether SCOT™, ROSA™, Wally™, Wally HSO™, AVA™, ROAMEO™, CASSIE™, RIO™, or RAD Light My Way™. Read about how RAD is reinventing the security services industry by downloading the Autonomous Remote Services Industry Manifesto, and request a copy of the recently published ‘Navigating the New Economy: Jobs & Automation, Challenges & Opportunities’.
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, to meet business and financial goals including projections and forecasts, and other risks. No information contained in this news release should be construed as any indication whatsoever of the Company’s future stock price, revenues, or results of operations. Additionally, industry data provided herein is of no predictive value regarding the future sale of the Company’s products. 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.
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