Artificial Intelligence Technology Solutions Updated Financial Guidance
October 01 2018 - 9:38AM
InvestorsHub NewsWire
Reno, NV -- October 01, 2018 -- InvestorsHub NewsWire --
Artificial Intelligence Technology Solutions Inc. (AITX: OTCPK)
provides guidance for its wholly owned subsidiary (RAD
- www.roboticassistancedevices.com).
RAD’s suite of products which presently includes SCOT, WALLY and
FRED provides recurring monthly revenue for RAD. On Average, each
SCOT, WALLY and FRED respectively can generate, over a 4 year
period, $60,000, $25,000 and $12,000 of total revenue for the
Company.
To date the aggregate of all units presently deployed, at
purchase order stage and client verbal commitment stage equal more
than $2,400,000 worth of total potential revenue.
RAD expects to reach $100,000 of monthly recurring revenue by
this fiscal year end February 28, 2019, which represents
approximately $5,000,000 of total potential revenue. RAD already
has total deployments, purchase orders and verbal commitments for
half of this amount to date.
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.
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.
RAD has a deep sales pipeline of over 50 large clients, many of
which are Fortune 500 companies that have expressed interest and
that are at various stages of discussion with the Company for
future potential orders. The Company also works with over a dozen
distributors including one of the largest security distributors in
the US with well over 100,000 employees and who issued the
following press release over the
summer: http://www.aus.com/media-center/press-releases/view-press-release/articleid/1764/allied-universal-teams-with-partner-rad-to-offer-concierge-like-robots
RAD is also working on a new product that is expected to be
ready for deployment early next year. Each unit is expected to have
a total potential revenue of $160,000. The Company will release
expected deployments of these products for the fiscal year 2019 at
a later date.
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
rob otic 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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