ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

(AITX)
Delayed OTC Markets  -  03:59 2022-06-30 pm EDT
0.0127 USD   -4.89%
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AITX's Subsidiary Robotic Assistance Devices Signs New Dealer, Receives ROSA Order

05/24/2022 | 08:41am EDT

Detroit, Michigan, May 24, 2022 (GLOBE NEWSWIRE) -- Artificial Intelligence Technology Solutions, Inc., (OTCPK:AITX), today announced that its wholly owned subsidiary Robotic Assistance Devices, Inc. (RAD) has signed U.S. Secure Ventures (USSV) as a new authorized dealer and has received an order for a ROSA security robot from this new dealer. USSV is a commercial security services provider with offices in Dallas, TX growing from regional leader to a national authority in commercial and integrated security.

USSV has a solid reputation and client base in the commercial real estate and construction industries through the booming Texas and southern states markets. The ROSA security robot ordered by USSV will be utilized for demonstration purposes to these and other clients.

“I was introduced to RAD last year at a local security conference and was impressed with their technology, and their people,” said Brook Carreker, President of USSV. “Our company and RAD are aligned very well. Their innovative solutions fit perfectly into our plan of leading the security services sector by offering the best technology.”

“We have seen such great progress recently penetrating regional security dealers,” said Mark Folmer, President of RAD. “We welcome USSV to the RAD network and expect them to be successful with their focus on tech and AI solutions that support manned guarding at a lower cost.”

“The guarding industry is certainly coming around to what RAD is doing, at the regional and national level,” said Steve Reinharz, CEO of AITX. “Economic, employment and social conditions are forcing corporate end-users and dealers to secure more affordable, and more effective solutions, and that need leads them right to RAD,” Reinharz added.

With the addition of the new authorized dealer, RAD’s dealer network has expanded to 42, covering the US, Canada, the United Kingdom, and the European Union.

RAD’s parent company AITX intends to file for listing on the OTCQB within 10 days of filing its YE2022 10-K which is expected in May.

ROSA is a compact, self-contained, portable, security and communication solution that can be deployed in about 15 minutes. Like other RAD solutions, it only requires power as it includes all necessary communications hardware. ROSA’s AI-driven security analytics include human and vehicle detection, license plate recognition, responsive digital signage and audio messaging, and complete integration with RAD’s software suite notification and autonomous 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 published two Case Studies detailing how ROSA has helped eliminate instances of theft, trespassing and loitering at car rental locations and construction sites across the country.

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, ROAMEO, or RAD Light My Way. 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, 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, stevereinharz.com, www.radsecurity.com and www.radlightmyway.com, or follow Steve Reinharz on Twitter @SteveReinharz.

###

Steve Reinharz
949-636-7060
@SteveReinharz

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Financials (USD)
Sales 2022 1,45 M - -
Net income 2022 -62,2 M - -
Net Debt 2022 18,2 M - -
P/E ratio 2022 -1,22x
Yield 2022 -
Capitalization 62,6 M 62,6 M -
EV / Sales 2021 1 151x
EV / Sales 2022 74,7x
Nbr of Employees -
Free-Float 100%
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