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Sunday, April 18, 2021

Robotic Assistance Devices, Inc. (RAD); the Rise of Artificial Intelligence Technology Solutions Inc. (OTCMKTS: AITX)

Artificial Intelligence Technology Solutions Inc. (OTCMKTS: AITX) is making a powerful run up the charts in recent days on record setting volume and heavy accumulation from investors quickly transforming AITX into a volume leader in small caps.

AITX has been making big moves recently restructuring the vast majority of its debt, which has saved the company a tremendous amount of dilution. Last week the Company received a greatly anticipated order for a 5-unit RAD solution. This integrated autonomous remote security and access solution will be deployed to a Fortune 500 end-user client with over 10 distribution centers and over 7,500 retail locations in the U.S. and Puerto Rico. RAD management commented: “the entire RAD team in creating and building a company that we believe will be the breakthrough leader in an emerging multi-billion dollar industry. RAD’s growth over the past several months has been remarkable, and we believe that this is merely the beginning of a steep growth curve,” said Mark Folmer, RAD’s VP Security & Industry.

Artificial Intelligence Technology Solutions Inc. (OTCMKTS: 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 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.

The Company through its subsidiary, Robotic Assistance Devices, Inc. (RAD), is looking to redefine $25 billion (US) security and guarding services industry through its broad lineup of innovative, AI-driven Solutions-as-a-Service business model. RAD solutions are specifically designed to provide a cost savings to businesses of between 35%-80% when compared to the industry’s existing and costly manned security guarding and monitoring model. RAD delivers this tremendous costs savings via a suite of stationary and mobile robotic solutions that complement, and at times, directly replace the need for human personnel in environments better suited for machines. All RAD technologies, AI-based analytics and software platforms are developed in-house.

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Management has been working hard behind the scenes restructuring the vast majority of its debt, which has saved the company a tremendous amount of dilution. Specifically, AITX has restructured over 85% of its convertible debentures into non-convertible notes and warrants. The company has restructured a total of $7,141,110 of convertible debt into $7,141,110 of non-convertible promissory notes with a 36-month maturity and 12% annual compounded interest and 780M warrants with a 36-month maturity and $0.002 exercise price.

Earlier this year Robotic Assistance Devices (RAD) entered into an agreement with Civitas PSG, one of the largest security companies in Romania. Through this agreement, Civitas broadens its offering to include RAD’s autonomous remote security solutions. Specifics of the agreement were not disclosed, but the company confirmed that the agreement covers all RAD security devices, mobile and stationary, including the recently announced ROAMEO mobile robot and Wally HSO, actively being deployed for health screening, health monitoring and face covering detections operations.

On December 22 AITX announced a major dealer of AITX’s wholly owned subsidiary Robotic Assistance Devices (RAD) has received a greatly anticipated order for a 5-unit RAD solution. This integrated autonomous remote security and access solution will be deployed to a Fortune 500 end-user client with over 10 distribution centers and over 7,500 retail locations in the U.S. and Puerto Rico.

Steve Reinharz, President and CEO of RAD stated: “This order holds particular significance as it is an endorsement of RAD’s vision of a fully integrated facility using its autonomous security solutions. The order of five units spans three different RAD devices acting as a complete system and saving the facility hundreds of thousands of dollars versus legacy human-based solutions. If you’ve ever heard us talk about RADTown, well, this is what RADTown Logistics looks like. Details of the agreement were not disclosed, but the company confirmed that it was told that contracts would be received by the end of this year. Implementation will be Q1 2021. This opportunity has been in play nearly a year and a half and went through exhaustive legal and other agency review. We’re delighted that the PO is expected to be in RAD’s hands by year end.”

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AITX is making a powerful run up the charts in recent days on record setting volume and heavy accumulation from investors quickly transforming AITX into a volume leader in small caps. AITX has been making big moves recently restructuring the vast majority of its debt, which has saved the company a tremendous amount of dilution. Last week the Company received a greatly anticipated order for a 5-unit RAD solution. This integrated autonomous remote security and access solution will be deployed to a Fortune 500 end-user client with over 10 distribution centers and over 7,500 retail locations in the U.S. and Puerto Rico. RAD management commented: “the entire RAD team in creating and building a company that we believe will be the breakthrough leader in an emerging multi-billion dollar industry. RAD’s growth over the past several months has been remarkable, and we believe that this is merely the beginning of a steep growth curve,” said Mark Folmer, RAD’s VP Security & Industry. 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.

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