Artificial Intelligence Technology Solutions Inc (AITX)

[JustJack]

(Marketwired - Sep 14, 2017) - On the Move Systems (OTC PINK: OMVS) provides guidance for its wholly owned subsidiary (RAD - www.roboticassistancedevices.com).

RAD is preparing to ramp up production as its prospective clients are preparing their next year budgets to include RAD's autonomous security robots and as robot reservations are converted into robot deployments.

RAD is preparing for the following expected deployment of robots:

20 robots by the end of calendar 2017
50 robots by the end of the first quarter of 2018
90 robots by the end of the second quarter of 2018
160 robots by the end of the third quarter of 2018
240 robots by the end of the fourth quarter of 2018

RAD'S business model is to rent out robots to its clients over a three-year period thereby always retaining ownership of its robots, securing its intellectual property and providing a model for regular service, software and hardware updates.

Each robot brings in approximately $110,000 of revenue over the life of the contract which translates to approximately $36,000 per annum.

RAD expects to have 20 robots deployed by the end of 2017 and a total of 560 robots deployed by the end of 2018 for an expected monthly revenue run rate at the end of 2018 of over $1,600,000 or over $20,000,000 of recurring revenue per year.

"Demand for our robots has been very encouraging," said Steve Reinharz, President and CEO of RAD. "And we are preparing for the swift ramp up of deployments over the next 15 months."

RAD has commenced to deploy robots to end users. To date RAD has commitments for 62 robots for total contract values of approximately $6 million.

RAD currently has signed agreements for 2 POC's with major companies.

RAD currently has a sales pipeline of over 50 Fortune 500 companies and over 25 qualified dealers and distributors that have a combined customer base of more than 35,000 end user corporations.

The company may post important information about its subsidiary RAD on its website at www.Robotic AssistanceDevices.com and through tweets from RAD President and CEO Steve Reinharz (https://twitter.com/SteveReinharz)

CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS

This release contains "forward-looking statements"