(GlobeNewswire) - via NEWMEDIAWIRE -- Artificial Intelligence Technology Solutions (AITX: OTCPK) is pleased to announce that Robotic Assistance Devices (RAD), its wholly owned subsidiary, is in discussions for an initial order of 25 SCOT Wally units with a multi-billion dollar real estate development and management company.
The total value from this potential preliminary order assuming the client used the units for the full 4 year life is roughly $600,000.
We are very pleased to be adding more potential large clients to our growing customer funnel, said Steve Reinharz, President and CEO of RAD. It is important to remember that these large clients can save significant amounts of money by accessing our solutions, and usually their end game is not to deploy to only several locations but to expand deployment in order to maximize their savings throughout their respective organizations.
RAD is successfully winning large multi-billion dollar clients who enjoy cost savings of 75% to 80% by using RAD products and technology as compared to their existing legacy security costs. RADs product sales life cycle for large clients follows several steps; first clients test out a small number of units usually one or two in a single or so location, then deploy to several more locations and if satisfied start to plan for larger deployments with the objective of capturing companywide savings by maximizing unit deployments across numerous sites and thus benefiting from significant cost savings companywide. At this point in RADs growth cycle, several large clients have already successfully ordered units and have also successfully reordered units as they are working to increase the number of sites that are equipped with RADs products. RAD is already discussing companywide deployment with a number of clients and management believe it is only a matter of time before clients start to place significantly larger unit orders as they enter into the companywide deployment phase.
AITX President Garett Parsons and RAD President Steve Reinharz will be answering select questions submitted email@example.com are submitted by 5pm Pacific time Thursday, December 20, 2018. A video link of Steve answering the questions will be posted on the RAD website in the Blogs section by midnight Pacific time on the same day.
The company may post important information about its subsidiary RAD on its website at www.Robotic AssistanceDevices.com and through tweets from RAD President and CEO Steve Reinharz (https://twitter.com/SteveReinharz)
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, 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.
Robotic Assistance Devices (RAD)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, RAD can help organizations streamline operations, increase ROI and strengthen business. RAD robotics 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. RAD robotic solutions are well suited for use in multiple industries such as enterprises, government, transportation, critical infrastructure, education and healthcare. To learn more, visitwww.roboticassistancedevices.comor follow us on Twitter @RADbotsecurity.
Everest Corporate Advisors Inc.
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