AITX and RAD CEO
As part of the cost-saving plan, the Company has terminated several projects, such as the AITX eSports team initiative and limited lobbying efforts. The Company is also working to reduce device deployment and activation costs through better planning. These changes have led to a reduction in the Company's full-time equivalent team member count from 90 to 82.
Reinharz emphasized the importance of investing in core team members to unlock additional productivity and results while scaling up deployments and revenues. He stated that the market response to AITX and RAD's solutions has been overwhelmingly positive, and the Company's sales funnel and 90-day deployment schedule could also contribute to potentially increasing monthly recurring revenue.
The CEO expects the combination of these changes and RAD's strong sales funnel to result in monthly profitability within the next 9 to 15 months. While the Company has prepared forecasts aiming for positive cash flow by
Reinharz concluded by encouraging all team members to be intentional in their actions and to keep in mind the industry and investor support driving the Company's growth.
AITX, through its subsidiary, Robotic Assistance Devices, Inc. (RAD), is redefining the
RAD has a prospective sales pipeline of over 35 Fortune 500 companies and numerous other client opportunities. RAD expects to continue to attract new business as it converts its existing sales opportunities into deployed clients generating a recurring revenue stream. Each Fortune 500 client has the potential of making numerous reorders over time.
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About
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.stevereinharz.com, www.radsecurity.com, www.radgroup.ai, and www.radlightmyway.com, or follow
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949-636-7060
@SteveReinharz
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