Reno, Nev., Jan. 31, 2019 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Artificial Intelligence Technology Solutions, Inc., (AITX: OTCPK) is pleased to announce that Robotic Assistance Devices (RAD), its wholly owned subsidiary, has received another PO from one of its existing Fortune 500 clients in the logistics industry for a SCOT™ Wally.
“We are very pleased to be receiving follow on orders from existing Fortune 500 clients,” said Steve Reinharz, President and CEO of RAD. “It is important to note that as we work on bringing in new clients, we are also receiving additional orders from existing clients and as time goes on we expect these reorders to increase in frequency and magnitude.”
The cornerstone of RAD’s growth strategy is to attract new large clients who place initial orders and then reorder more products over time. Most of the sales effort occurs during the preliminary order process so reorders are a significant value add for the company. As well, as the company adds new products to its portfolio, it can leverage its existing client base to increase sales more rapidly.
The company may post important information about its subsidiary RAD on its website at www.RoboticAssistanceDevices.com and through tweets from RAD 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.
Robotic Assistance Devices (RAD) 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, RAD can help organizations streamline operations, increase ROI and strengthen business. RAD robotics 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. RAD robotic solutions are well suited for use in multiple industries such as enterprises, government, transportation, critical infrastructure, education and healthcare. To learn more, visit www.roboticassistancedevices.com or follow us on Twitter @RADbotsecurity.
Everest Corporate Advisors Inc.