Artificial Intelligence Techno Stock Price, News & Analysis

Artificial Intelligence Technology Solutions (OTCPK:AITX) announced the order of two ROAMEO mobile security robots by its subsidiary Robotic Assistance Devices (RAD) for a major utility company. One unit will be deployed at the corporate office, and the other at a field location, expected to be operational by summer 2023. The next-generation ROAMEO 3.0 offers improved speed and lower production costs. RAD has a robust sales pipeline, including over 35 Fortune 500 companies and plans to uplist to OTCQB.

Artificial Intelligence Technology Solutions (OTCPK:AITX) has expanded its dealer network to 52 authorized dealers with the addition of six new partners. These dealers enhance RAD's sales pipeline, enabling rapid response to customer security needs. The new dealers, from various locations including Canada and the U.S., are set to utilize RAD’s innovative security solutions like ROSA and AVA, which integrate advanced AI technologies. AITX aims to leverage this expanded network to reach end users and address upcoming economic challenges while promoting cost-effective security solutions.

Artificial Intelligence Technology Solutions (AITX) announced that its subsidiary, Robotic Assistance Devices (RAD), received orders for five ROSA security robots and one AVA access control device from its largest authorized dealer. RAD's solutions are designed to reduce reliance on human guards, offering advanced security features. The orders cater to a small box retailer and a top utility company. Additionally, RAD is launching ROSA 3.1 with upgraded features and has a sales pipeline with over 35 Fortune 500 companies. AITX has filed for uplisting to the OTCQB.

Artificial Intelligence Technology Solutions announced a successful $4 million fundraise through a note issuance on October 28, 2022. The note, with a maturity of four years and a 15% interest rate, received net cash proceeds of $3.5 million after an original issue discount of $500,000. This financing does not dilute common stock ownership as CEO Steve Reinharz voluntarily reduced his stake from 65% to 54%. The company aims to enhance growth and reduce reliance on market funding while driving increased revenues.

Artificial Intelligence Technology Solutions (OTCPK: AITX) reported significant developments in its Q2 fiscal year 2023 results, highlighting an impressive 85% year-over-year increase in subscription revenue, totaling $228,145. The company achieved a stable 87% gross profit margin and eliminated 955 million warrants, enhancing stock value for shareholders. Additionally, AITX generated approximately $4M in share proceeds and plans to raise another $4M to $6M for growth and debt reduction. The company is expanding its innovative security solutions and aims for an OTCQB up listing.

Artificial Intelligence Technology Solutions (OTCPK: AITX) announced 33 new device orders via its subsidiary, Robotic Assistance Devices (RAD), since the last update, including 28 ROSAs and 5 TOMs for four clients. One dealer is deploying 26 ROSAs at a distribution center, while an existing client is adding five TOM units. RAD's sales pipeline includes over 35 Fortune 500 companies, indicating potential for recurring revenue. AITX is also pursuing uplisting to the OTCQB, with further announcements expected soon.

Artificial Intelligence Technology Solutions, Inc. (AITX) reports success with its AVA technology through its dealer, St. Moritz Security Services. This partnership highlights a growing demand for cost-effective security solutions in gated communities. St. Moritz placed its fifth AVA order, supporting five communities with deployments. The technology, recognized with a 2022 award for Access Control, offers advanced visibility and security at a lower cost. AITX's sales pipeline includes over 35 Fortune 500 companies, and the company is pursuing uplisting to the OTCQB.

Artificial Intelligence Technology Solutions (OTCPK: AITX) will host an Investor and Technology Open House on December 7, 2022, at its Ferndale, Michigan facility. CEO Steve Reinharz highlighted the significance of showcasing recent developments from its subsidiaries RAD, RAD-M, and RAD-G, including a live demonstration of the RADDOG robot. The event, which can also be viewed via livestream, aims to engage investors and media, further enhancing AITX's visibility in the market. The company also plans to pursue an OTCQB uplisting.

Artificial Intelligence Technology Solutions, Inc. (OTCPK: AITX) announced an order for a ROSA security robot from its subsidiary, Robotic Assistance Devices, Inc. (RAD), through CBRE and Grainger for a Fortune 500 client. Mark Folmer, President at RAD, emphasized that this order signifies increasing adoption of RAD's technology among large enterprises.

RAD's focus on cost-effective security solutions is timely, especially as companies seek automation amid economic uncertainty. With a robust sales pipeline of over 35 Fortune 500 clients, RAD anticipates ongoing business growth. The parent company, AITX, has filed for uplisting to OTCQB.