Artificial Intelligence Technology Solutions (AITX) Subsidiary RAD Sees Strong Demand and Sales in Early 2021
Henderson, Nevada, January 28, 2021 — Artificial Intelligence Technology Solutions, Inc., (OTCPK:AITX), today announced that its wholly-owned subsidiary Robotic Assistance Devices (RAD) is experiencing strong demand and positive sales activities as calendar year 2021 begins.
RAD previously announced through a press release the receipt of a ROSA order from a large construction company. There was an expectation that this company and the entire construction industry would begin to start ordering additional ROSA units. RAD is pleased to confirm that this client recently reordered two (2) additional ROSA units. This client has also indicated that several more orders should be forthcoming, potentially as early as the first week of February. This is outstanding validation of RAD’s significant expectations of the sizable opportunities within the construction industry.
RAD announced that it has also received an AVA order from a Southern California dealer to help an end-user in the logistics industry efficiently process vehicles through an entry gate with the goal of better processing at a lower cost. This is further validation of AVA’s value, utility and performance, and it appears that this is the beginning of momentum building for this product offering throughout the logistics industry.
RAD signed two new dealers, including Protos (previous announced), in January in the United States and is engaged to add its first western European dealer. The European interest and expansion is an acceleration of RAD’s global expansion plans.
RAD’s first European dealer ordered a SCOT and ROSA. One of RAD’s large dealers ordered 5 units for a Fortune 100 client. These items were previously announced in a prior press release.
“January is wrapping up to be a very positive month for RAD, with the company firing on all cylinders,” said Steve Reinharz, President and CEO of RAD. “Going into the new year, it’s exciting to see how our solutions are being embraced by our dealers and end-users. We feel very good about our position and our market strategy, RAD is the only manufacturer that can offer such incredible solutions. Every product from ROSA to ROAMEO is gaining momentum.”
Reinharz also noted that the company expects to close the fiscal year, ending February 2021, with gross revenue exceeding the previous year and with an increase in contracts closed.
The company may post important information about its subsidiaries RAD-M and RAD on the websites www.radroameo.com and www.radsecurity.com and through tweets from RAD/RAD-M 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.
