Artificial Intelligence Technology Solutions, Inc., (OTCMKTS:AITX) is trading with moderate gains in the opening session after the news on Friday.
Robotic Assistance Devices Obtains New Orders
- announced that its wholly-owned subsidiary Robotic Assistance Devices, Inc. (RAD) has received 2 new orders for its increasingly popular ROSA units. The company reports that these new orders have been received since its last public announcement.
- Although not named due to confidentiality agreements, the company indicated that one of these ROSA units will be installed at a national grocery distributor and was sold through an authorized RAD dealer. The second ROSA order will be deployed by a leading East Coast security firm that is expected to sign as an authorized dealer.
Since the beginning of its fiscal year, March 1, 2021, RAD has reported that is has received a total of 60 units on order. “At this moment we have confidence that we can finish this fiscal year at an annual revenue run rate that’s 5 to 20 times greater than our last fiscal year,” said Steve Reinharz, Founder and President of RAD. “The RAD business development team and dealer network has never been stronger and continues to penetrate new ground, taking new territory,” Reinharz added.
“RAD’s product offering continues to attract new users, new markets, and new dealers,” said Mark Folmer, COO of RAD. “With the recent addition of ROSA180 and ROSA270, RAD now has a solution well-suited for every security profile, every vertical market, and all applications. Once deployed, these two ROSA units will immediately go to work covering security lapses and solving problems that these end-users are experiencing,” Folmer concluded.
Market Action
As of 9:58, AITX stock jumped by 2.65% to $0.0530 with more than 15.58 million shares traded hands, compared to its average volume of 55.90 million shares. The stock has moved within a range of $0.0510 – 0.0550 after opening the trade at $0.0520.
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