How Far Will It Go? Artificial Intelligence Technology (OTCMKTS:AITX)

Artificial Intelligence Technology (OTCMKTS:AITX) stock is witnessing mild gains in the opening session on Thursday on moderate volume.

Market Reaction:

As of 9:35, AITX stock moved up 1% to $0.0626 with more than 1.28 million shares, compared to  its average volume of 52.37 million shares. The stock has moved within a range of $0.0625 – 0.0664 after opening the trade at $0.063.

Major Trigger:

Robotic Assistance Devices Signs L&P Global Security as a New Dealer with Initial Unit Commitment

  • AITX announced that its wholly-owned subsidiary Robotic Assistance Devices, Inc. (RAD) has signed L&P Global Security as an authorized dealer.
  • L&P Global Security is a premier security guard services company in Texas. The company boasts a skilled and highly trained commercial and business security staff, unarmed and armed security guards, patrol security, and executive security. Under this agreement, L&P Global Security will represent all RAD stationary and mobile security robot solutions.

Key Quotes:

 “We have been following RAD for years, and it’s now time to bring them on as a solution provider,” said Prashant Kumar, Managing Partner at L&P Global Security. The company’s client base includes top-tier big-box retailers, warehousing and distribution centers, and Class A facility operators. “Our customers have been increasingly interested in ways to automate and modernize their security profile that reduces costs, and we’re confident that with RAD we can deliver on these requirements.”

“We are thrilled to welcome L&P Global Security to the RAD dealer network,” said Jordan Lippel, CPP, RAD’s Vice President, Enterprise Solutions. “Prashant and the team at L&P Global have been pursuing us for a while, and it’s gratifying to know that forward-thinking end-users can help RAD pull a new dealer in.” Lippel confirmed that L&P Global will be deploying their first unit, a ROSA, at a large retailer in north Texas.

Key Quote:

“We are a materials design company using leading-edge technologies to design customer and market-focused solutions. The long-term agreement with NanoXplore complements our approach, which is to customize solutions to maximize performance through collaborations and the leveraging of leading-edge technology.”

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