OMVSD: Provides Financial Guidance for Artificial Intelligence Technology Solutions Inc. (RAD)

Reno, NV, Sept. 07, 2018 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Artificial Intelligence Technology Solutions Inc. (OMVSD: OTCPK) provides guidance for its wholly owned subsidiary (RAD – www.radsecurity.com).

RAD’s suite of products presently includes SCOT (Security Control and Observation Tower), WALLY and FRED (Facial Recognition Entry Device) and is provided to end users on a Robots-as-a-Service (RaaS) model that includes hardware, software and recurring services. On Average, each SCOT, WALLY and FRED respectively can generate, over a 4 year period, approximately $60,000, $25,000 and $12,000 of total revenue for the Company.

RAD launched its first SCOT in April, 2018, Wally in June and Fred in July. All RAD hardware runs the RAD Software Suite for a complete and integrated security & special services platform. RAD’s software is primarily hosted by Microsoft™ Azure™. With one small exception all RAD software is 100% written and owned by RAD. All RAD hardware for the U.S. market is manufactured in Southern California.

RAD expects to exceed $100,000 of monthly recurring revenue by this fiscal year end February 28, 2019, which represent approximately $5,000,000 of total potential revenue over 4 years. This would represent approximately 125 individual units across an estimated 30 individual client of which more than half are expected to be fortune 500 clients.

It is important to understand the sales cycle of these clients. “Given we launched a brand new ecosystem of hardware and software just a few months ago, the speed at which these amazing clients have issued purchase orders to RAD have exceeded our expectations,” said Steve Reinharz, founder & President of Robotic Assistance Devices. “Furthermore the discussions we have about standardization and expansion are incredibly encouraging. We are in active discussions with several customers about multi-site deployments of well over 50 units per customers.”

The expected pattern of unit deployments appears to look like this:

1. A client starts with one or two units as a paid pilot;
2. When satisfied they begin a small roll-out across a few locations;
3. When satisfied we expect to be their standard and roll out across their enterprise.

RAD continues to grow by satisfying new clients and working with them to show value and become their standard.

For the fiscal year ended February 28, 2020 RAD expects to reach $700,000 of monthly recurring revenue representing $30,000,000 of total potential revenue over 4 years.

For the fiscal year ended February 28, 2021 RAD expects to reach $2,100,000 of monthly recurring revenue representing $100,000,000 of total potential revenue over four years.

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

The information contained in this publication does not constitute an offer to sell or solicit an offer to buy securities of Artificial Intelligence Technology Solutions, Inc. (the "Company"). This publication contains forward-looking statements, which are not guarantees of future performance and may involve subjective judgment and analysis. As such, there are no assurances whatsoever that the Company will meet its expectations with respect to its future revenues, sales volume, recurring monthly revenue growth, and operational cash flow positivity. The information provided herein is believed to be accurate and reliable, however the Company makes no representations or warranties, expressed or implied, as to its accuracy or completeness. The Company has no obligation to provide the recipient with additional updated information. No information in this publication should be interpreted as any indication whatsoever of the Company's future revenues, results of operations, or stock price.

For purposes of the Company's disclosures, "Artificial Intelligence" refers to machine-based systems designed to operate with varying levels of autonomy that, for a given set of human defined objectives, can make predictions, recommendations, or decisions influencing real or virtual environments. In the context of the Company's business, Artificial Intelligence is deployed primarily within the security services and property management industries to support functions such as detection, analysis, prioritization, communication, and response related to safety, security, and operational events.

The Company delivers these capabilities principally through its SARA™ (Speaking Autonomous Responsive Agent) platform, which serves as the Company's primary agentic artificial intelligence system. SARA is designed to receive and process video, audio, and other sensor data, apply automated analysis and inference, and support actions in accordance with predefined operational objectives and human oversight.

Further note that the Company's Board of Directors oversees the Company's deployment of Artificial Intelligence.