Artificial Intelligence Technology Solutions Files for Uplisting to OTCQB

Rhea-AI Summary

Artificial Intelligence Technology Solutions (OTCPK: AITX) announced its application to up-list from the OTC Pink Open Market to the OTCQB market. This move aims to enhance visibility and attract a broader investor base. CEO Steve Reinharz expressed optimism about the listing, which requires adherence to stringent financial reporting standards and undergoing a verification process. The company, through its subsidiary Robotic Assistance Devices (RAD), offers innovative AI-driven security solutions, potentially saving businesses 35%-80% compared to traditional security models.

Positive

• Application to up-list to OTCQB may attract more investors.
• RAD's solutions offer significant cost savings of 35%-80% over traditional security.
• OTCQB listing indicates commitment to transparency and quality, appealing to investors.

Negative

• None.

Detroit, Michigan, June 02, 2022 (GLOBE NEWSWIRE) -- Artificial Intelligence Technology Solutions, Inc., (OTCPK:AITX), a global leader in AI-driven security and productivity solutions for enterprise clients, is pleased to announce that it has applied to upgrade its position in the public markets and increase its visibility to a wider range of investors by up-listing its common shares listed for trading from the OTC Pink Open Market to the OTCQB market (the “OTCQB”), a U.S. trading platform that is operated by the OTC Markets Group in New York.

“The incredible community of AITX shareholders, fans and supporters have overwhelmingly been looking forward to this day," said Steve Reinharz CEO of AITX. "I hope we get through the process quickly and I hope that the QB can bring additional investors and liquidity to our company.”

The OTCQB is the premiere marketplace for early stage and developing U.S. and international companies that are committed to providing a high-quality trading and information experience for their U.S. investors. Companies must be current in their financial reporting to undergo an annual verification and management certification process, including meeting a minimum bid price and other financial conditions. The OTCQB quality standards provide a strong baseline of transparency as well as the technology and regulation to improve the information and trading experience for investors. The OTCQB is recognized by the US Securities and Exchange Commission as an established public market providing public information for analysis and value of securities.

The listing of the Company's common shares on the OTCQB remains subject to the approval of the OTCQB. Future announcements will be made regarding the status of the OTCQB application.

Follow Steve Reinharz on Twitter @SteveReinharz for future AITX and RAD updates.

AITX through its subsidiary, Robotic Assistance Devices, Inc. (RAD), is redefining the $25 billion (US) security and guarding services industry through its broad lineup of innovative, AI-driven Solutions-as-a-Service business model. RAD solutions are specifically designed to provide a cost savings to businesses of between 35%-80% when compared to the industry’s existing and costly manned security guarding and monitoring model. RAD delivers this tremendous costs savings via a suite of stationary and mobile robotic solutions that complement, and at times, directly replace the need for human personnel in environments better suited for machines. All RAD technologies, AI-based analytics and software platforms are developed in-house. 

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. 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, RAD-M and RAD-G 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.aitx.ai, stevereinharz.com, www.radsecurity.com and www.radlightmyway.com, or follow Steve Reinharz on Twitter @SteveReinharz.

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Steve Reinharz
949-636-7060
@SteveReinharz

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• Artificial Intelligence Technology Solutions, Inc.

FAQ

What is AITX's recent press release about?

AITX announced its application to up-list its shares from OTC Pink to OTCQB to enhance visibility and attract more investors.

How does AITX plan to improve investor visibility?

AITX aims to increase visibility by up-listing to the OTCQB market, which adheres to strict financial reporting standards.

What cost savings does RAD's security solution provide?

RAD's AI-driven security solutions offer cost savings ranging from 35% to 80% compared to traditional manned security services.

What are the requirements for AITX's OTCQB application?

To qualify for OTCQB, companies must meet minimum bid price standards, maintain current financial reporting, and undergo an annual verification process.