HENDERSON, Nev.--(BUSINESS WIRE)--Artificial Intelligence Technology Solutions, Inc., (OTCPK:AITX), is pleased to announce that its majority owned subsidiary Robotic Assistance Devices Mobile, Inc. (RAD-M) has begun a short private placement offering in accordance with Regulation Crowdfunding (Reg. CF) adopted by the U.S. Securities and Exchange Commission (SEC) through TruCrowd. Full details can be found here: https://us.trucrowd.com/equity/offer-summary/RAD-M.
RAD-M announces the launch of its dedicated website https://investinradm.com/ that identifies that letters of intent for pre-orders worth more than $16 million in total potential revenue of ROAMEO units have been received from a variety of dealers and end users including Fortune 500 companies.
“I believe this is a great opportunity for a wide variety of investors and enthusiasts to join the #RADArmy as we continue to define the Autonomous Remote Services industry that we expect will join manned guarding and physical security as a multi-billion dollar industry,” said Steve Reinharz, Founder and President of RAD-M. “End user response to RAD-M’s flagship solution ROAMEO, with the minimal engagements that we have pursued, has been nothing short of overwhelming.”
The company’s lead product, a mobile robot named ROAMEO, towers over 6’6” tall and weighs over 700 lbs. According to the company, ROAMEO is designed to autonomously patrol a property or periphery and survey its surroundings, conducting routine patrols, recording and reporting back to the central command center. The AI-analytics and backend systems utilized by ROAMEO are those of RAD-M’s sister-company, Robotic Assistance Devices (RAD).
“RAD-M’s is one of the most exciting opportunities I’ve yet seen,” said Vincent Petrescu, CEO of truCrowd, Inc. “RAD-M’s selection of the TruCrowd’s platform is continued validation of our success as a leading regulation crowdfunding site.”
The company may post important information about its subsidiaries RAD-M and RAD on the websites www.radroameo and www.roboticassistancedevices.com and through tweets from RAD/RAD-M 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.
About Artificial Intelligence Technology Solutions (AITX)
AITX 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, AITX’s RAD and RAD-M companies help organizations streamline operations, increase ROI and strengthen business. AITX 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. AITX 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.