Henderson, Nevada, July 6, 2021 — Artificial Intelligence Technology Solutions, Inc., (OTCPK:AITX), today announced that its wholly-owned subsidiary Robotic Assistance Devices, Inc. (RAD) has named Mark Folmer, CPP, FsyI as President and Chief Operating Officer, effective immediately. The announcement came at the close of RAD’s first annual RADCON conference at the company’s new manufacturing facility REX (RAD Excellence Center) in the metro Detroit area.
Folmer had previously held roles within the company of Chief Operating Officer and Vice President, Security & Industry. Folmer will oversee all of RAD’s manufacturing, operations, sales and administrative groups.
“I am humbled and thrilled to take this next step with the support of the organization as we drive to fulfill the promise of RAD’s mission,” said Folmer. “I look forward to leading the talented RAD team as we build upon the foundation that has been laid, to deliver better solutions and support to our clients, and to capture every opportunity that is ahead of us. Together we will drive innovation and sustainable growth that benefits all of our clients, channel partners, end-users, law enforcement and the communities that they serve.”
“It became clear to me that the best person to lead RAD through its next phase of growth was already leading the company,” said Steve Reinharz, founder and CEO of AITX and all related subsidiaries. “Mark’s demonstrated accomplishments have earned him this position with over a year’s worth of contributions in leadership and performance. I look forward to focusing on the emerging subsidiaries RAD-G and RAD-M. I will support Mark on strategies that will push our remarkable organizations further into the future.”
The company also confirmed that it has introduced its internal ‘Road to 500’ sales campaign, with the aim of 500 units deployed by their fiscal year end of February 28, 2022. “RAD’s Road to 500 is an aspiring objective, and I’m confident that we’ve got the right team, right solutions, and now with REX, the right manufacturing capabilities to get there. There are many great things happening under the AITX umbrella right now, and I am determined to maintain RAD’s industry leadership position and see to it that RAD Inc. continues its pace as the most profitable subsidiary of AITX.”Follow Steve Reinharz on Twitter @SteveReinharz for AITX updates. Follow @SteveReinharz
Robotic Assistance Devices, Inc. (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 of design elements, performance, quality and the user’s experience of all security robots whether SCOT™, ROSA180™, ROSA270™, Wally™, Wally HSO™, AVA™, or ROAMEO™. 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, 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 and RAD-M 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 and www.radsecurity.com, or follow Steve Reinharz on Twitter @SteveReinharz.
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