Robotic Assistance Devices Obtains New Orders

Rhea-AI Summary

Artificial Intelligence Technology Solutions (OTCPK:AITX) announced new orders for its ROSA security units, with one unit to be deployed at a national grocery distributor and another for a leading East Coast security firm. Since March 1, 2021, RAD has received a total of 60 units on order, anticipating a significant revenue increase, projecting a run rate 5 to 20 times larger than the previous fiscal year. RAD's COO noted the company's expanding dealer network and product offerings, highlighting the effectiveness of ROSA units in addressing security challenges.

Positive

• Received 2 new orders for ROSA units, indicating strong market demand.
• Total of 60 units on order since the fiscal year began on March 1, 2021.
• Projected revenue run rate expected to be 5 to 20 times greater than the last fiscal year.
• Expanded dealer network and product line enhances market penetration.

Negative

• None.

Artificial Intelligence Technology Solutions, Inc. (OTCPK:AITX) today announced that its wholly-owned subsidiary Robotic Assistance Devices, Inc. (RAD) has received 2 new orders for its increasingly popular ROSA units. The company reports that these new orders have been received since its last public announcement.

Although not named due to confidentiality agreements, the company indicated that one of these ROSA units will be installed at a national grocery distributor and was sold through an authorized RAD dealer. The second ROSA order will be deployed by a leading East Coast security firm that is expected to sign as an authorized dealer.

“RAD’s product offering continues to attract new users, new markets, and new dealers,” said Mark Folmer, COO of RAD. “With the recent addition of ROSA180 and ROSA270, RAD now has a solution well-suited for every security profile, every vertical market, and all applications. Once deployed, these two ROSA units will immediately go to work covering security lapses and solving problems that these end-users are experiencing,” Folmer concluded.

Since the beginning of its fiscal year, March 1, 2021, RAD has reported that is has received a total of 60 units on order. “At this moment we have confidence that we can finish this fiscal year at an annual revenue run rate that’s 5 to 20 times greater than our last fiscal year,” said Steve Reinharz, Founder and President of RAD. “The RAD business development team and dealer network has never been stronger and continues to penetrate new ground, taking new territory,” Reinharz added.

ROSA (Responsive Observation Security Agent) is a compact, self-contained, security and communication solution that can be deployed in as little as 15 minutes. Its AI-driven security systems include human and vehicle detection, license plate recognition, responsive digital signage and audio messaging, and complete integration with RAD’s software suite notification and 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 recently published two case studies describing how ROSA has helped eliminate instances of trespassing, theft, and vagrancy at construction sites across Florida and car rental locations in Southern California.

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

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 of design elements, performance, quality and the user’s experience of all security robots whether SCOT™, ROSA™, Wally™, Wally HSO™, AVA™, or ROAMEO™.

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20210604005119/en/

FAQ

What are the recent developments for AITX regarding ROSA units?

AITX announced two new orders for its ROSA security units, which are being deployed at a national grocery distributor and a leading East Coast security firm.

How many ROSA units has AITX received orders for since March 2021?

Since March 1, 2021, AITX's subsidiary RAD has received orders for a total of 60 units.

What is the projected revenue growth for AITX based on recent announcements?

AITX expects its annual revenue run rate to be 5 to 20 times greater than the previous fiscal year.

Who is the COO of RAD and what did he say about the company's growth?

Mark Folmer is the COO of RAD, and he stated that the company's product offerings are attracting new users and markets.

What capabilities do the ROSA units provide?

ROSA units feature AI-driven security systems, including human and vehicle detection, license plate recognition, and two-way communication.