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Artificial Intelligence Technology Solutions, Inc., (OTCPK:AITX), today announced that its wholly-owned subsidiary Robotic Assistance Devices, Inc. (RAD) has achieved a significant milestone in April, with additional milestones expected in May.
RAD reports that its southern California manufacturing facility achieved its greatest production total in a month (15 units) and anticipates the completion and shipment of 20+ units in the month of May.
Concurrent with completing production and shipping of these units, RAD is setting up and staffing its new 30,000 square foot manufacturing facility in the metro Detroit, Michigan area. The Michigan facility, aka the RAD Excellence Center (REX), is expected to be fully operational by its formal grand opening of June 28. The REX will manufacture all of the company’s mobile and stationary solutions. The REX will have a production capacity exponentially higher than the California facility at significantly lower overall costs. The company expects to retain the California facility with limited staff to support west coast clients.
"In addition to the fantastic performance of our production team, our newly expanded sales team is expecting our greatest order intake month in May," said Steve Reinharz, Founder and President of RAD. "The deployments went perfectly in April to some significant end users. May will be no different and it’s a great pattern that we will continue to scale upward," Reinharz added.
RAD’s production lead-times have decreased dramatically over the past 6 months, attributed to the addition of its Irvine, California manufacturing facility in December, 2020. Production lead-times have been reduced from 90+ days at the end of CY 2020, to just under 45 days in April. Once the REX facility is fully operational, the company anticipates average lead-times to be 21 days or less. This is outside of RAD’s previously noted QuickShip program which will be expanded beyond the popular ROSA unit to also include other RAD solutions.
Follow Steve Reinharz on Twitter @SteveReinharz for future RAD, REX and AITX updates.
Robotic Assistance Devices (RAD) is a high-tech start-up that delivers robotics and artificial intelligence-based solutions that empower organizations to gain new insight, solve complex security challenges, and fuel new business ideas at reduced costs. RAD developed its advanced security robot technology from the ground up including circuit board design, and base code development. This allows RAD to have complete control over all of design elements, performance, quality and the user’s experience of all security robots whether SCOT™, ROSA™, Wally™, Wally HSO™, AVA™, or ROAMEO™. Read about how RAD is reinventing the security services industry by downloading the Autonomous Remote Services Industry Manifesto.
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, to meet business and financial goals including projections and forecasts, 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.aitx.ai and www.roboticassistancedevices.com, or follow Steve Reinharz on Twitter @SteveReinharz.
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