Artificial Intelligence Tech Solutions Inc (OTCMKTS: AITX) is rocketing up the charts after a brief dip below the $0.01 last week on a surge of volume and heavy accumulation from investors. AITX has runner in its blood and skyrocketed from triple zeroes to highs near $0.30 per share in early 2021. The dip below the $0.01-mark invigorated investors who have been accumulating ever since. On Monday the Company said it intends to file for listing on the OTCQB within 10 days of filing its YE2022 10-K which is expected in May. The Company also reported RAD has received an order for 2 ROSA security robots from nationwide, Premier Protective Security. The 2 ROSAs will be deployed as part of a pilot program at one of the nation’s leading travel centers. RAD’s ROSA has been well received by gas stations, convenience stores and other small retail operators for its unparalleled ability to detect and deter instances of trespassing and loitering without the need for manned guarding assistance. AITX has received numerous orders for the ROSA in recent weeks fueled in part by the Company’s Nationwide Television Ad Campaign Spotlighting Innovation and RAD Light My Way. The Company’s sales are on the rise with the Company doing over $100,000 a month in revenues during 2022 fueled by ROSA and an agreement with Civitas PSG, one of the largest security companies in Romania.
ROSA, following in the footsteps of SCOT 2.0, WALLY, AVA and ROAMEO™ 2.0 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. “ROSA” (Responsive Observation Security Agent) was introduced in 2019. In addition to providing surveillance capabilities, the unit has been designed to deter loitering, vandalism, and other criminal behaviors by autonomously responding to trespassers with escalating lights, sirens, and targeted messaging. Case studies of two successful installations have been shared widely among the security community and have received coverage in the trade press4. ‘ROSA180’ was announced in May 2021 and is the successor to ROSA. “ROSA270” was announced in May 2021 and complements the existing RAD I stationary lineup. It offers an expanded 270° field of view.
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Artificial Intelligence Tech Solutions Inc (OTCMKTS: AITX) 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™.
Based in Detroit, Michigan, the Company completed a reverse merger with Robotic Assistance Devices, LLC (RAD) in 2017 and changed its name from “On the Move Systems Corp.” to “Artificial Intelligence Technology Solutions Inc.” (AITX) soon after with RAD founder Steve Reinharz. taking over as President. Since the RM with RAD AITX has been engaged in pursuing the delivery of artificial intelligence (AI) and robotic solutions for operational, security, and monitoring needs. The Company is focused on applying advanced AI-driven technologies, paired with multi-use hardware and supported by custom software and cloud services, to intelligently automate and integrate a variety of high-frequency security, concierge, and operational tasks. RAD now produces a full line of mobile and stationary security robots – protecting facilities, properties, people and budgets. RAD devices are made in the USA at the company’s 30,000 sq. ft facility outside of Detroit, Michigan, called the REX (RAD Excellence Center).
AITX’s mission is to apply Artificial Intelligence (AI) technology to solve enterprise problems categorized as expensive, repetitive, difficult to staff, and outside of the core competencies of the client organization. RAD’s first industry focus is the more than $100 billion global security services market. RAD’s current goal is to disrupt and capture a significant portion of both the human security guard market (over $30 billion) and “physical security” (video surveillance, access control, visitor management, etc.) market (over $20 billion) through its innovative RAD solution ecosystem.
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RAD solutions are unique because they: start with an AI-driven autonomous response utilizing cellular-optimized communications, while easily connecting to a human operator for a manned response, as needed, Use unique hardware purpose-built by RAD for delivery of these solutions. Various form factors have been customized to deliver this new functionality and deliver services through RAD-developed software and cloud services, allowing enterprise IT groups to focus on core competencies instead of maintenance of complex video and security platforms.
AITX owns 3 wholly owned subsidiaries
Robotic Assistance Devices, Inc. (RAD I) is the primary operating company of AITX. The company holds the dealer and end-user contracts, employs all US employees, operates the California and Michigan facilities, and is the primary industry-facing entity of AITX. RAD I owns all intellectual property related to RADSoC™, RAD Mobile SOC™, RADGuard™, and their core operating architecture. RAD I owns everything related to AITX’s line of stationary devices and their manufacturing. RAD I also implements and services the devices.
Robotic Assistance Devices Group, Inc. (RAD G) was created for the purposes of expected future sales through a channel that is incompatible and non-competitive with RAD I’s existing channel. RAD G is focused on the development of advanced software and electronics solutions and hopes to have a solution in the marketplace by the end of 2021. The Company expects that this first solution, which will be software-only, will be marketed through RAD I. Additional solutions under development are likely to have a direct go-to-market strategy that complements RAD I’s strategy. Development efforts for these entities are highly confidential and will remain so until marketable solutions are ready to launch.
Robotic Assistance Devices Mobile, Inc. (RAD M) was created for the purposes of future developments, partnerships, and marketing in which the Company may engage in the future. RAD M is focused on the development of autonomous mobile devices, both ground-based and airborne. RAD M’s first solution, the ROAMEO™ unmanned ground vehicle, incorporates RAD M technologies related to the development of custom chassis, drive train, power management, perception, and prediction. ROAMEO features technology from RAD I to perform its functions. The Company believes that ROAMEO will bring the first outdoor, rugged, commercial security and facility robot to market. This mobile solution will complement the stationary systems. ROAMEO is manufactured, implemented, and maintained by RAD I. ROAMEO will begin serial production in RAD’s Michigan facility in June or July 2021. RAD M will continue developing additional mobility solutions that RAD I will bring to market.
The Company’s President; Mr. Reinharz started RAD in the summer of 2016. RAD originally partnered with SMP Robotics Systems Corp. (SMP) and commercialized the SMP S5 Robot for the security market. RAD’s commercialization of the platform focused on integrating traditional security industry manufacturers’ solutions onto the robotics platform. After two paid proofs-of-concept for large utility companies (under NDA) and over 18 months of development and testing, RAD began deployments with various Fortune 500 customers. These deployments were scheduled to start in October 2017 but were delayed until December 2017 due to various supply chain challenges.
$AITX Sharing our first 30 second ad, part of our first full marketing campaign. Check it out! Enjoy it! Share it! Tell your employers your facilities need it! Let me know your comments! Big day today!!! https://t.co/Ih519KCLuq
— Steve Reinharz (@SteveReinharz) May 13, 2022
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Currently trading at a $166 million market valuation AITX has over $4 million in the treasury and $9 million in assets with just over $20 million in liabilities. Much of RAD’s existing convertible debt was acquired in support of the RAD/SMP robotics program. This convertible debt has largely been converted to long-term debt and warrants and will not cause short term dilution. AITX is a really exciting story developing in small caps, it’s just reversed big time since a brief dip below the $0.01 mark and is currently under heavy accumulation with some big players behind it known for doing it right. The stock ran to highs near $0.30 in early 2021 so its got a huge gap to fill from current levels. The Company’s CEO has been busy on twitter suggesting the Company will make an announcement later this week about the signing of dealer(s) in the UK. RAD’s pivot to SCOT and its future derivatives is complete, and RAD’s current facilities can produce a mix of up to 100 units per month with moderate additional investment in equipment and manpower. RAD’s current goal is to disrupt and capture a significant portion of both the human security guard market (over $30 billion) and “physical security” (video surveillance, access control, visitor management, etc.) market (over $20 billion) through its innovative RAD solution ecosystem in the $100 billion plus global security services market. Management believes the security market is ripe for disruption and already RAD has captured the interest of many Fortune 500 companies. The Company believes that no other company operating in the physical security space has the solutions, distribution channel, reputation, sales or support model to rival RAD in the near term. In addition, the Company expects that the launch of RAD’s mobile solutions will significantly increase the gap between it and would-be competitors. RAD will be a one-stop-shop for proven and comprehensive mobile and stationary workflow improvement devices and systems. RAD’s technology model includes a “new paradigm” for the security industry: Security in a Box. Every RAD solution features connection to the RAD Software Suite, a platform for AI processing, usage analytics, cloud-sided video, communications interface, audit logs, and much more. AITX is currently engaged in a Nationwide Television Ad Campaign Spotlighting Innovation and RAD Light My Way; television spots will air on CNBC, Newsmax, CNN, Fox News, Fox Business, Headline News, Bloomberg TV, and The Weather Channel. The Company will use other media channels to engage target markets appropriately. We will be updating on AITX when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with AITX.
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Disclosure: we hold no position in AITX either long or short and we have not been compensated for this article.