AITX’s Subsidiary Robotic Assistance Devices Shipping an Additional 14 Units on New Letter of Intent from Major Casino Operator
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
Large Deployment Expected to Begin in July
Detroit, Michigan, June 22, 2022 (GLOBE NEWSWIRE) — Artificial Intelligence Technology Solutions, Inc., (OTCPK:AITX), today announced that its wholly owned subsidiary Robotic Assistance Devices, Inc. (RAD) has received a Letter of Intent from a regional casino operator for large quantity of RAD devices. The expected receipt of this order had been previously acknowledged in a press release in late April of this year.
The Company stated that the Letter of Intent is for a minimum of 12 ROSA security units, 1 SCOT stationary tower, and 1 ROAMEO mobile security robot. The agreement is structured as to allow the client to increase the number of units on order without the need to re-engage their purchasing process. It is expected that deployments will begin in July 2022. The client may choose to be identified in the future as well as participate in a case study since the RAD devices will be in public view.
“Persistence pays off. At RAD we grind until we get the win,” said Mark Folmer, President of RAD. “This client has certainly done their due diligence. I have great respect for their partner qualification process. We’ve gone through similar procedures to ensure that every box is checked when a client is looking at RAD.”
“This is going to be such a great deployment,” said Steve Reinharz, CEO of AITX and RAD. “It’s a picture-perfect commercial deployment, with multiple ROSAs keeping an eye on the facility and their guests, a SCOT at the main entrance providing valuable information and security, plus a ROAMEO on patrol between the parking structure and the front entrance. We expect that these quantities could double in the coming months, at this one location.”
RAD’s parent company AITX has filed for uplisting to the OTCQB. Future announcements will be made regarding the status of the OTCQB application.
ROSA is a compact, self-contained, portable, security and communication solution that can be deployed in about 15 minutes. Like other RAD solutions, it only requires power as it includes all necessary…
