OMVSD: Provides Financial Guidance for Artificial Intelligence Technology Solutions Inc. (RAD)
September 07 2018 - 9:08AM
InvestorsHub NewsWire
Reno, NV -- September 07, 2018 -- InvestorsHub NewsWire
-- Artificial Intelligence Technology Solutions
Inc. (OMVSD: OTCPK) provides guidance for its wholly
owned subsidiary (RAD
- www.roboticassistancedevices.com).
RAD’s suite of products presently includes SCOT (Security
Control and Observation Tower), WALLY and FRED (Facial Recognition
Entry Device) and is provided to end users on a Robots-as-a-Service
(RaaS) model that includes hardware, software and recurring
services. On Average, each SCOT, WALLY and FRED respectively can
generate, over a 4 year period, approximately $60,000, $25,000 and
$12,000 of total revenue for the Company.
RAD launched its first SCOT in April, 2018, Wally in June and
Fred in July. All RAD hardware runs the RAD Software Suite for a
complete and integrated security & special services platform.
RAD’s software is primarily hosted by Microsoft™ Azure™. With one
small exception all RAD software is 100% written and owned by RAD.
All RAD hardware for the U.S. market is manufactured in Southern
California.
RAD expects to exceed $100,000 of monthly recurring revenue by
this fiscal year end February 28, 2019, which represent
approximately $5,000,000 of total potential revenue over 4 years.
This would represent approximately 125 individual units across an
estimated 30 individual client of which more than half are expected
to be fortune 500 clients.
It is important to understand the sales cycle of these clients.
“Given we launched a brand new ecosystem of hardware and software
just a few months ago, the speed at which these amazing clients
have issued purchase orders to RAD have exceeded our expectations,”
said Steve Reinharz, founder & President of Robotic Assistance
Devices. “Furthermore the discussions we have about standardization
and expansion are incredibly encouraging. We are in active
discussions with several customers about multi-site deployments of
well over 50 units per customers.”
The expected pattern of unit deployments appears to look like
this: 1. A client starts with one or two units as a paid pilot; 2.
When satisfied they begin a small roll-out across a few locations;
3. When satisfied we expect to be their standard and roll out
across their enterprise. RAD continues to grow by satisfying new
clients and working with them to show value and become their
standard.
For the fiscal year ended February 28, 2020 RAD expects to reach
$700,000 of monthly recurring revenue representing $30,000,000 of
total potential revenue over 4 years.
For the fiscal year ended February 28, 2021 RAD expects to reach
$2,100,000 of monthly recurring revenue representing $100,000,000
of total potential revenue over four years.
The company may post important information about its subsidiary
RAD on its website at www.Robotic AssistanceDevices.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 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.
About RAD
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. 702-902-2361 www.everestcorp.net
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