Robotic Assistance Devices Experiences a Flurry of Sales Activity as FY2022 Q3 Closes

Rhea-AI Summary

Artificial Intelligence Technology Solutions, Inc. (AITX) announced a significant increase in sales activity for its subsidiary, Robotic Assistance Devices, Inc. (RAD). The company reported its largest sales week recently, with two new dealer signings and orders for six RAD units. Notable orders include two AVA devices from a global retail clothing firm and two ROSA units for a California property management company. AITX's President indicated that these developments confirm the effectiveness of their sales strategies, projecting continued momentum into Q4.

Positive

• Largest sales week reported by RAD, indicating strong market demand.
• Two new dealers signed, expanding RAD's distribution capability.
• Orders totaling six RAD units highlight increasing customer interest.

Negative

• None.

HENDERSON, Nev.--(BUSINESS WIRE)-- Artificial Intelligence Technology Solutions, Inc. (OTCPK:AITX) today announced that its wholly-owned subsidiary Robotic Assistance Devices, Inc. (RAD) has experienced a surge of sales activity as its fiscal quarter comes to a close.

“RAD logged our biggest sales week just over a week ago as we logged thousands of miles on ROAMEO’s first public tour. And as RAD’s fiscal third quarter comes to an end, we’re pleased to announce the signing of 2 new dealers plus 2 unique orders totaling 6 RAD units,” said Steve Reinharz, CEO of AITX and RAD. “Our distribution channel and sales pipelines are loaded with similar activity which indicates to me that Q4 will continue to fuel RAD’s upward momentum.”

The company identified the recent developments of significance. The company also acknowledged that additional details regarding the newly signed authorized dealers and end users is expected in the coming weeks.

• A worldwide clothing and accessories retailer has placed an order for 2 AVA devices to provide autonomous vehicle verification and access at one of their California distribution/logistics centers.

• General Security Services Inc. (GSSi), an existing RAD authorized dealer in southern California, has placed an order for 2 ROSA units which will be deployed at a Los Angeles area property management company.

• Vista Security Group (VSG), a large, regional security services provider headquartered in Amherst, New York, has signed as an authorized RAD dealer. VSG has placed an order for one ROSA unit which will be deployed at one of their construction industry clients.

• Cancom Global Security, a First Nations-owned security guard company with offices throughout Canada, has signed as an authorized dealer. Cancom Security has purchased one RAD ROSA which will be utilized in conjunction with the company’s alarm response and mobile security services.

“The property management, construction and logistics industries have been just a few of the specialized vertical markets that RAD has been targeting over the past several months,” said Mark Folmer, RAD President and COO. “These recent orders, whether direct to the end user or sold through our existing and newly signed dealers, are validation that our sales strategies and execution are beginning to return very positive results.”

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™, or ROAMEO™. Read about how RAD is reinventing the security services industry by downloading the Autonomous Remote Services Industry Manifesto.

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

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, www.roboticassistancedevices.com and www.radlightmyway.com, or follow Steve Reinharz on Twitter @SteveReinharz.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211130005393/en/

Steve Reinharz

949-636-7060

@SteveReinharz

Source: Artificial Intelligence Technology Solutions, Inc.

FAQ

What recent sales activity has AITX reported?

AITX announced a surge in sales activity for its subsidiary, RAD, including its largest sales week and orders for six RAD units.

Which companies placed orders for RAD products?

Recent orders were placed by a worldwide clothing retailer for AVA devices and a property management company in California for ROSA units.

How many new dealers has AITX signed recently?

AITX has signed two new dealers, enhancing its distribution network.

What does RAD's sales performance suggest for the future?

RAD's recent sales performance indicates positive momentum, with expectations for continued growth into Q4.

What types of products is AITX focusing on?

AITX focuses on advanced security robotic solutions, including AVA and ROSA devices.