OMVS: Robotic Assistance Devices Increases Robot Reservations

Date : 07/26/2017 @ 9:11AM
Source : New Media Wire
Stock : On The Move Systems Corp. (PC) (OMVS)
Quote : 0.077  0.005 (6.94%) @ 4:00PM

OMVS: Robotic Assistance Devices Increases Robot Reservations

 

 

 

RENO, NV--(NewMediaWire - Jul 26, 2017) - On the Move Systems (OTC PINK: OMVS) is pleased to announce that Robotic Assistance Devices (RAD - www.roboticassistancedevices.com) has received an additional 10 robot reservations for a total of 40 robot reservations with total contract values of approximately $4 million. "We are seeing very strong demand for robots from prospective clients," said Steve Reinharz, President and CEO of RAD, "and we expect to comfortably meet our target of 60 robot reservations by the end of the summer."

RAD expects to deploy robots to end users in July. To date RAD has commitments for 40 robots for total contract values of approximately $4 million. OMVS has successfully completed its due diligence process on RAD as part of the binding LOI that was entered into on May 10th, 2017 for the purchase of 100% of RAD by OMVS. It is anticipated that the acquisition will close before August 10, 2017. 

RAD currently has signed agreements for 2 POCs with major companies. 

RAD currently has a sales pipeline of over 50 Fortune 500 companies and over 25 qualified dealers and distributors that have a combined customer base of more than 35,000 end user corporations. 

For further information please refer to www.sec.gov

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 On the Move Systems 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. On the Move Systems undertakes no duty to update any forward-looking statement(s) and/or to confirm the statement(s) to actual results or changes in On the Move Systems expectations.

CONTACT INFORMATION

Investor Relations: 
Everest Corporate Advisors Inc.
Jack Thompson
www.everestcorp.net
702-902-2361

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