Ongoing Order Growth for Robotic Security Systems with New Product Line Additions; High Profile Media Exposure on Fox Reality TV Show: (Stock Symbol: AITX)

Artificial Intelligence & Robotic Solutions for Industry, Schools & Government.  

AITX Robot Dog Appears on New FOX Reality Series ‘Stars on Mars’.

New Orders, Totaling 19 Security Devices from Leading National Dealer. 

Annual Results Show Strong Sales Funnel Growth and Product Line Expansion.

Extended Commitment of No Reverse Stock Split. 

Vice President of Strategic Partnerships Joins Company Leadership.

Multiple Robot Order from EPIC Security Works in Northern California.  

Accepting Orders for RADDOG 2LE, Robot Dog Purpose-Built for Law Enforcement Agencies. Available by July 2023.

Artificial Intelligence Technology Solutions (OTC: 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, the AITX 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. 

Video presentations of AITX advancements in AI and Robotics are available via YouTube.  

Click here: https://www.youtube.com/c/AITX-RAD/videos. 

Multiple Orders, Totaling 19 Security Devices from Leading National Dealer

On June 20th AITX announced it has booked 2 orders for a variety of security solutions. These orders are being facilitated through one of RAD’s largest authorized dealers.

The 2 AITX orders consist of a total of 11 ROSA™ security devices, 6 AVA™ access control solutions, and 2 SCOT™ towers. Seventeen of these units (9 ROSAs, 6 AVAs, 2 SCOTs) will be deployed at one client location in the Midwest. The 2 ROSA units will be deployed at a large east coast parking structure, with the task of autonomously deterring trespassing and vagrancy at unsecured entrances.

Although not named due to confidentiality agreements, AITX indicated that the end-user for the 17 devices is a Fortune 500-ranked, global brewing company. AITX and the dealer had been cultivating this opportunity since early 2022.

According to AITX, the client is using this opportunity to reduce their reliance on expensive manned guarding options and utilize RAD’s security devices throughout their corporate campus. The AITX ROSA units will line the walkways of the property, with the 2 SCOT towers strategically placed along key routes, providing emergency call options. The client’s 6 lobbies will each deploy an AVA device to help manage employee and visitor check-ins and verification procedures, replacing the tasks of a single guard in each of the lobbies. Once all devices are deployed and activated it is planned that this client will subscribe to RAD Light My Way to further provide their employees with enhanced security and safety measures.

Annual Results and Corporate Updates – Strong Sales Funnel Growth and Product Line Expansion Amid Fiscal Adjustments

On June 15th AITX announced the filing of its annual 10-K report, revealing a series of strategic adjustments aimed at improving overall performance and maximizing existing opportunities while positioning the company for future growth.

“Last year was a period of significant wins and sales funnel growth while we learned what was needed to increase the speed of the sales process,” stated Steve Reinharz, CEO of AITX. “We worked through many challenges, and we earned important successes in our business. As I’ve mentioned in the past, we’ve evolved our understanding of the sales process and are in the process of implementing new tactics to help our prospects complete their internal sales and adoption processes that result in RAD getting a purchase order.”

AITX saw its sales funnel swell by an impressive 4X, a clear indication of the growing market interest in the AITX product offerings and potential for revenue growth.

Significant wins during the fiscal year include:

New AITX iterations based on the popular ROSA™ device. RIO™ 180 and RIO 360, solar-powered trailers with ROSA on top. ROSA-P a solution for ROSA deployments where 24-hour power is not available.

ROSS, TOM, and RADDOG™ 2LE were announced. This AITX software, stationary and mobile product diversification potentially will drive faster revenue increases in the coming year.

Continued limited deployments of ROAMEO™ 2.0. ROAMEO 3.0 is expected to be made available in early 2024.

Closed RAD’s first firearm detection-related school opportunity with the deployment of multiple ROSS connections plus 4 ROSA devices.

Expanded RAD’s largest client’s system to over 45 units with a growing opportunity for hundreds more.

Successfully earned the opportunity for a nationwide AITX sales plan roll out with one of RAD’s largest dealers.

Successfully completed the first significant healthcare implementation of RAD Light My Way™.

AITX Successfully participated in the FOX Network primetime television series ‘Stars on Mars’ (airing began June 5, 2023, RADDOG focus), and the long-awaited DC Comics / Warner Brothers blockbuster ‘Blue Beetle’ (premieres in theaters on August 17, 2023, ROAMEO focused).

Significant financial highlights during the fiscal year include:

Significant net loss decreased to $(18.1) million compared to $(62.2) million.

RMR (Recurring Monthly Revenue) derived from device subscriptions, increased 29% to $754,126 compared to $592,401.

In April of 2023 AITX surpassed $100,000 in monthly recurring revenue for the first time (unaudited invoicing).

AITX Extends Commitment of No Reverse Stock Split

On June 14th AITX filed a Form 8-K with the Securities and Exchange Commission that provides details on the company’s corporate charter amendment that has been filed with the Nevada Secretary of State. The charter amendment extends the AITX commitment not to engage in a reverse stock split of its Common Stock before January 1, 2025, unless the Company is uplisting to NASDAQ or the NYSE.

“I deeply value and appreciate the support and commitment shown by the remarkable AITX investor community,” said Steve Reinharz, CEO of AITX. “I want to reiterate my unequivocal stance on not pursuing any reverse stock splits. To provide you with utmost assurance, I am pleased to announce our decision to formalize this commitment by enacting a corporate charter amendment and subsequent filing of the associated Form 8-K. This proactive step reinforces our unwavering dedication to this principle and serves as evidence of our alignment with the investor community’s interests and expectations.”

Holley Hunt Joins AITX’s Subsidiary, Robotic Assistance Devices, as Vice President of Strategic Partnerships

On June 12th AITX announced that Holley Hunt has joined RAD in the newly created role of Vice President of Strategic Partnerships.

The announcement was made at the opening of Security LeadHER, an event presented by ASIS International and the Security Industry Association and dedicated to the advancement of women in the global security industry.

For more than 20 years, Hunt has been passionately involved in the security industry. Hunt feels at home with innovation and her appetite for convergence in the marketplace fuels her desire to evangelize new services and solutions within the ever-evolving business of physical security. During her career, Hunt has held executive positions in access control and video surveillance technology companies, including Johnson Controls, Bosch, Keyscan, Qognify and most recently global engineering firm QCIC.

AITX Receives Multiple ROSA Order from EPIC Security Works

On June 7th AITX announced that it had received an order for 7 ROSA security robots. This order is being facilitated through EPIC Security Works, a RAD authorized dealer located in California.

Although not named due to confidentiality agreements, AITX indicated that the end-user is a large retail shopping facility in Northern California. This client has recently experienced an increase in after-hour trespassing, loitering and troublesome threats to employee and guest safety.

AITX Unleashes RADDOG™ 2LE, the Robotic Dog for Law Enforcement Applications

On June 6th AITX announced that it is accepting orders for RADDOG 2LE, the robot dog purpose-built for law enforcement agencies. Limited quantities are available as early as July 2023.

RADDOG 2LE marks a critical evolution of quadruped robotics positioned to improve the capabilities of law enforcement agencies and enable them to apply practical robotics for a variety of tasks. With its agile quadruped (four-legged) design and cutting-edge external accessories, RADDOG 2LE empowers officers to conquer challenging terrain, reach inaccessible areas, and navigate through dangerous environments.

The AITX RADDOG 2LE offers law enforcement agencies an exceptional combination of advanced performance features and remarkable affordability. Driven by RAD’s ‘RADPack LE’, this quadruped features RADSoC™, the on-board visual analytics and video management system included with all of RAD’s AI-powered solutions.

RADPack on RADDOG 2LE offers unique features, specifically including an interactive touch screen located at the front of the quadruped. This interface facilitates smooth, high-definition video communication between remote law enforcement officers and individuals within the robot’s vicinity. Complemented by integrated microphones, powerful audio speakers, programmable alert lighting, and front headlights, RADDOG 2LE possesses an array of capabilities to effectively engage with, and capture the attention of those it may confront.

The AITX RADDOG 2LE is scheduled to begin shipping in late July. Complete specifics of its capabilities, features and other details can be found at www.raddog.ai and www.radsecurity.com.

For more information on Artificial Intelligence Technology Solutions $AITX visit: www.radsecurity.com & www.radlightmyway.com

 

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SOURCE: CorporateAds.com

Media Contact
Company Name: Artificial Intelligence Technology Solutions Inc.
Contact Person: Steve Reinharz
Email: Send Email
Phone: 702-990-3271
Address:10800 Galaxie Avenue
City: Ferndale
State: Michigan 48220
Country: United States
Website: https://aitx.ai/home-ca/


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