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Orders Surging and Company Financials Growing Stronger from Marketing of AI Security Robots Plus $4 Million Funding Raise: (Stock Symbol: AITX)
Artificial Intelligence Technology Solutions (OTCMKTS:AITX )
TOWNSHIP, MICHIGAN, UNITED STATES, November 9, 2022 /EINPresswire.com/ — Orders Surging and Company Financials Growing Stronger from Marketing of AI Security Robots Plus $4 Million Funding Raise: Artificial Intelligence Technology Solutions (Stock Symbol: AITX)
Artificial Intelligence & Robotic Solutions for Industry, Schools, and Government.
Expanding Sales of Multiple Security Units to New and Repeat Customers.
$4 Million Funding Raised Through Note Issuance & Preferred Share Warrants.
AITX Q2 Filing Reposts Subscription Revenue Increases 85% Over Prior Year.
In Person and On-Line Investor and Technology, Open House Planned for December seventh 2022.
Artificial Intelligence Technology Solutions (OTC: AITX) is an innovator within the supply of synthetic intelligence-based options that empower organizations to realize new perception, resolve advanced challenges, and gasoline new business concepts. Through its next-generation robotic product choices, the AITX RAD, RAD-M, and RAD-G corporations assist organizations streamline operations, improve ROI, and strengthen the business.
AITX know-how improves the simplicity and economics of patrolling and guard companies and permits skilled personnel to deal with extra strategic duties. Customers increase the capabilities of present staffs and acquire larger ranges of situational consciousness, all at drastically decreased prices. AITX options are effectively fitted to use in a number of industries comparable to enterprises, authorities, transportation, essential infrastructure, training, and healthcare.
Video displays of AITX developments in AI and Robotics can be found through YouTube.
Click right here: https://www.youtube.com/c/AITX-RAD/videos.
Expansion Order from Global Small Box Retailer and Major Power Utility
On November third AITX introduced it has been notified by the Company’s largest licensed seller that an present small field retailer continues to develop their RAD deployments. This order is for five ROSA safety robots. Also obtained from this seller is an order for 1 AVA safe entry management machine for a high 5 utility firm.
CEO Raises $4 Million in Funding Through Note Issuance and Issuance of Preferred Share Warrants
On November 2nd AITX introduced that it issued a $4 million word to its largest single investor thereby securing a mortgage that matures in 4 years, bears curiosity at 15% every year, has an unique situation low cost of $500,000, offers money proceeds to the Company of $3.5 million, and consists of warrants to amass further most popular fairness shares (the “Fundraise”).
The web impact of the Fundraise doesn’t materially have an effect on AITX frequent inventory shareholders or frequent shareholders’ fairness share since Steve Reinharz, AITX Founder and CEO, has successfully decreased his stake by roughly 20% (from totally diluted possession of 65% to 54%) to attain the funding with none additional dilution to frequent shareholders.
AITX Files 10-Q For 2nd Fiscal Quarter
Significant Number of Warrants Are Off the Books Among Other Improvements
On October twenty fourth AITX filed its quarterly report on Form 10-Q for the three and 6 months ended August 31, 2022 with the SEC for its Q2 of fiscal 12 months 2023.
Subscription Revenue Increases 85% Over Prior Year
Total subscription income of $228,145 for the three months 12 months ended August 31, 2022 elevated over the prior 12 months’s quarter ended August 31, 2022 by $123,375 or 85%. The majority of AITX income is derived from subscription-based contracts. Gross revenue share stabilized at 87% margin in Q2 after stabilizing from the stock changes in Q1 and resulted in an unusually low 23% gross revenue share. Through October 21dt AITX, obtained approximated $4M in share proceeds web of issuance prices. AITX expects to lift an extra $4M to $6M by means of the issuance of further shares over the fiscal 12 months, which it plans to make use of for its development and debt discount.
Proceeds on Common Share Issuances
Through October 21, 2022, AITX obtained roughly $4M in share proceeds web of issuance prices. AITX expects to lift an extra $4M to $6M by means of the issuance of further shares over the fiscal 12 months, which it plans to make use of for its development and debt discount.
Reduction in Warrants
AITX eradicated 955 million warrants to buy frequent inventory at a median value of $0.008, in trade for $3M in debt maturing in 2 years at an rate of interest of 15%. The execution of such warrants would have diluted the worth of AITX inventory, so lowering the quantity of excellent warrants and thereby growing the worth of the frequent inventory to each present and future shareholders.
Solutions Development
AITX and its subsidiaries introduced and/or launched a number of new options throughout the second quarter of the fiscal 12 months. These options leverage the AITX platform to offer distinctive ‘security-in-a-box’ options that may be deployed in minutes and present modern options comparable to firearm detection and rather more. Added to the AITX award-winning lineup throughout the quarter have been RIO, ROSA-P, TOM, ROSS, plus enhancements to RAD’s software program suite.
Continued Expansion of Sales Funnel and Opportunities
AITX gross sales funnel continued to considerably develop by means of its established seller channel and direct end-users alternatives. The AITX seller community expanded to 46, including six new sellers within the fiscal quarter. Sales alternatives have been added by means of AITX participation at a number of nationwide and regional business conferences, a number of seller conferences, end-user conferences, and demonstrations on the REX facility.
AITX’s Receives Surge of 33 Security Robots Placed on Order
On October nineteenth AITX introduced it has obtained a number of orders, totaling 33 models, to be delivered to 4 totally different purchasers. The product combine of the 33 safety units ordered because the earlier public announcement is 28 ROSAs and 5 TOMs.
The AITX ROSA has obtained business recognition for its autonomous skill to detect and deter cases of trespassing and different property intrusions with out the necessity for manned guarding help.
AITX Dealer Seeing Momentum Accelerate with AVA Deployments
On October thirteenth AITX introduced that one of its licensed sellers, St. Moritz Security Services, Inc. is experiencing success with deployments of AVA at gated communities. St. Moritz has additionally positioned their fifth AVA order to be deployed at a neighborhood in southern Florida.
St. Moritz achieved over $140 million in annual gross sales in 2022 which ranks them as one of the biggest American-owned safety corporations within the U.S. and within the high 2% of all safety corporations worldwide. St. Moritz has thirty places of work nationwide and covers your entire U.S. and Canada.
AITX to Host Investor and Technology Open House
AITX will host an Investor and Technology Open House on Wednesday, December 7, 2022. The occasion shall be held on the Company’s manufacturing facility, the REX, situated in Ferndale, Michigan. At the occasion, attendees can anticipate to see a dwell demonstration of RADDOG, constructed by RAD-M and powered by RAD-G, and offered by AITX.
Those interested by attending the AITX Investor and Technology Open House can register on-line at tinyurl.com/2xv94nbw. For these unable to attend the occasion in individual, it is going to be live-streamed at 4:30 pm ET on AITX’s YouTube channel www.youtube.com/aitxrad.
AITX’s Subsidiary Robotic Assistance Devices Provides Detailed Examples of Lengthy Sales Cycles to Fortune 500 Clients
On October fifth AITX introduced it has obtained an order for one ROSA safety robotic. The gross sales order has been recognized as being an instance of the complexities and in depth endeavor concerned in promoting superior technological options to B2B purchasers.
The order for this ROSA unit was really helpful by CBRE, the power administration firm for the end-user, with Grainger dealing with order processing and achievement obligations.
According to a report by Gartner, the standard shopping for group for a fancy B2B answer entails six to 10 determination makers‚ every armed with 4 or 5 items of data they’ve gathered independently and should deconflict with the group.
DISCLAIMER: This article is only for informational functions and just isn’t a suggestion in any manner for getting or promoting shares
Steve Reinharz
Artificial Intelligence Technology Solutions
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