Robotic Assistance Devices Receives Opening Order from Recently Signed Dealer St. Moritz Security Services

Rhea-AI Summary

Artificial Intelligence Technology Solutions announced that its subsidiary, Robotic Assistance Devices, has secured a 5-unit order from St. Moritz Security Services, an authorized dealer. The purchase includes three ROSA units and two AVA units, to be deployed at a logistics warehouse and a HOA community. St. Moritz, a significant player with over $100 million in revenue in 2019, is optimistic about future collaborations. RAD’s technologies aim to enhance security operations, integrating advanced features such as AI-driven human and vehicle detection.

Positive

• 5-unit order from St. Moritz Security Services indicates growing demand for RAD products.
• Technology includes advanced features such as AI-driven detection and communication.
• St. Moritz's high revenue signals a robust potential market for RAD.

Negative

• None.

Artificial Intelligence Technology Solutions, Inc. (OTCPK:AITX) today announced that its wholly-owned subsidiary Robotic Assistance Devices, Inc. (RAD) has received a 5-unit order from recently signed authorized dealer, St. Moritz Security Services, Inc.

“It was just last month when we signed on to become an authorized RAD dealer, and we knew that we had a few good opportunities where we could place RAD solutions,” said Matthew Schwartz, CEO at St. Moritz. “We are really pleased with how rapidly our clients have embraced the RAD product offering and are ready for deployment,” Schwartz concluded.

Specifics of the purchase agreement were not disclosed, but the company confirmed that the order is comprised of three ROSA units, plus two AVA units. The end-users where these units will be deployed are a logistics/distribution warehouse and a HOA community. ROSA (Responsive Observation Security Agent) is a compact, self-contained, security and communication solution that can be deployed in about 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. AVA (Autonomous Verified Access) is an ultra-compact, stanchion mountable unit that provides an edge-to-edge 180° field of vision with advanced access control over gates, doors and other controlled entries.

“We knew that we’d see great results with St. Moritz,” said Jordan Lippel, VP Security Solutions of RAD. “This nice initial order is an indication that we are going to have a solid relationship going forward.”

St. Moritz achieved over $100 million in annual revenue in 2019, which ranks them as one of the largest American-owned security companies in the U.S. and in the top 2% of all security companies worldwide. St. Moritz has thirty offices nationwide, and covers the entire U.S. and Canada.

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

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/20210421005375/en/

FAQ

What order did AITX announce in the latest press release?

AITX announced a 5-unit order from St. Moritz Security Services, including three ROSA units and two AVA units.

What is the significance of the AITX order from St. Moritz?

The order signifies growing acceptance and demand for RAD's security solutions among major security firms.

What are the features of ROSA and AVA units from AITX?

ROSA includes AI-driven security features while AVA provides advanced access control with a 180° field of vision.

How much revenue did St. Moritz achieve in 2019?

St. Moritz achieved over $100 million in annual revenue in 2019.

How might the order impact AITX's stock performance?

The order could positively influence AITX's stock performance by demonstrating market demand and potential revenue growth.