Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Yeah this is all completely untrue and exaggerated
What a waste THANKS FOR TAKING CARE OF YOUR LOYAL SHARE HOLDERS..
The CEO hasn't refuted any of the dilution claims and actively hide the share structure by GAGGING the TA?
Nothing good going on here.
But maybe he will TWITTER some more!!!!
What a great way for a CEO to behave.
First two robots being delivered this month and we will find out soon who the customers are.
OMVS/RAd 8k dilutive cautions
Capital requirements
To the extent that the cash flow from operations are insufficient to fund the Company’s operations, we will be required to raise additional capital through equity or debt financing. Any additional equity financing may be dilutive to shareholders, and debt financing, if available, may involve significant restrictive covenants. The Company’s failure or inability to raise capital when needed could have a material adverse effect on the Company’s business, financial condition and results of operations. There can be no assurance that such financing will be available on terms satisfactory to the Company, if at all.
The Company may conduct further offerings in the future, in which case your shareholdings will be diluted
The Company may rely on equity sales of common stock to fund operations. The Company may conduct further equity and/or convertible debt offerings in the future to finance operations or other projects that it decides to undertake. If common stock is issued in return for additional funds, or upon conversion or exercise of outstanding convertible debentures or warrants, the price per share could be lower than that paid by existing common stockholders. The Company anticipates continuing to rely on equity sales of common stock and issuances of convertible debt and/or warrants convertible or exercisable into shares of common stock in order to fund its business operations. If the Company issues additional shares of common stock, your percentage interest in the Company will be lower. This condition, often referred to as “dilution”, could result in a reduction in the per share value of your shares of common stock.
obviously some heavy diluting going on and OMVS/RAd refuses to be transparent and has gagged the Transfer Agent to mask the dilution, while investors must wait until financials to see the extent of dilution and toxic funding to come....
If only the CEO has chosen to go the route of transparency,future investors now will be very hard to come by and rely on information put forth by tweets
Bingo! Spot On!
Something else worth a mention here, left out are the operation incidentals that would be needed to support the "Bot Count"!
Delivery.
Maintenance.
Trade show expense.... incurring right now!
Employee Payroll.
Exec payroll.
Loss do to failure, damage or theft.
Busted lease agreements if it dosen't live up to the need or hype.
On and On with the list.
This number of Bots = "fleet" That in it's self would be a huge not yet factored cost!
Common sense tells someone that a launch will produce Glitches in many areas that are...at this time unforeseen!
If it actually worked...it would likely be years before it turned a profit.
IMO
All of this is absolutely untrue
Excellent and very informative post for OMVS!
It should be a sticky but we know the answer to that!
It is a shame and I would bet many more just like are here and silent.
Thanks... Keep up the great work, truth prevails!
Do what you want, but go read the filings, carefully. Take them to your accountant if you don’t understand them.
This company has over 1Billion shares in convertible notes due or coming due. That means 1B shares will enter the market. The authorized shares are are only 500million so they will have to reverse split this company 2x to clear the debt they already have (assuming they don’t borrow more money which they will)
There is no revenue. There have been no bots placed except 2 proof of concept (non paying customers) back in June. Recent PR said company is preparing to place first 2 bots with first paid customer.
When RAD/OMVS gets a bot from SMP they pay 50% when they order it and 50% when the bot is delivered. When RAD places a bot with their customer they receive 20% upfront and 80% over 3 years. Assuming 20% + margins they need to borrow $30-50k every time they fill an order for a bot. To fill the 62 bot reservations they’ve claimed on twitter (no 8k on actual contracts) RAD will need to borrow at least $1.86m to get the bots from SMP to fill the orders.
RAD could have gone public on otc for about $65,000 with a clean new company. Instead they merged with OMVS which has been around for years, and has been pumped and dumped several times already. All OMVS existing past due convertible debt was preserved in the merger. OMVS is one of 10 companies controlled by a lawyer in Texas, these are known as the “toxic 10” because all they do is issue more and more shares, reverse split, and then issue more shares again, driving the price to practically $0 again and again.
All of this info is available online and the financial info and convertible debt info is in the filings. The transfer agent is barred by the company (gagged) from disclosing exactly how many shares are actually trading. Market maker MAXM, who does not work for retail, but only for big money and insiders, has dumped millions of shares of dilution into the market since last May. And continues daily dumping more shares.
This is not an investment it’s a penny stock pump and dump insider enrichment scheme. Don’t take my word for it, don’t take anyone’s word on ihub. Read the filings yourself. Take them to your accountant. Do DD.
It makes me sad to see ppl lose money to the ppl who run this company and others like it. Good luck to you
You threw that much money in because you believed in the company, product, and industry for the long term.
My advice would be to not sell before giving the company time to grow their business. Building a new industry leader does not happen over night and you probably only got in at that price a month or two ago.
Unless you really need the money.
Of course they are toxic!!!
Did you not read page 9 of their quarterly report??
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12186520
There were almost a dozen new notes from January to May that had conversions features of discounts of 40%!!!
The SEC even described these types of notes as TOXIC!
https://www.sec.gov/fast-answers/answersconvertibleshtm.html
Convertible Securities
A "convertible security" is a security—usually a bond or a preferred stock—that can be converted into a different security—typically shares of the company's common stock. In most cases, the holder of the convertible determines whether and when to convert. In other cases, the company has the right to determine when the conversion occurs.
Companies generally issue convertible securities to raise money. Companies that have access to conventional means of raising capital (such as public offerings and bank financings) might offer convertible securities for particular business reasons. Companies that may be unable to tap conventional sources of funding sometimes offer convertible securities as a way to raise money more quickly. In a conventional convertible security financing, the conversion formula is generally fixed - meaning that the convertible security converts into common stock based on a fixed price. The convertible security financing arrangements might also include caps or other provisions to limit dilution (the reduction in earnings per share and proportional ownership that occurs when, for example, holders of convertible securities convert those securities into common stock).
By contrast, in less conventional convertible security financings, the conversion ratio may be based on fluctuating market prices to determine the number of shares of common stock to be issued on conversion. A market price based conversion formula protects the holders of the convertibles against price declines, while subjecting both the company and the holders of its common stock to certain risks. Because a market price based conversion formula can lead to dramatic stock price reductions and corresponding negative effects on both the company and its shareholders, convertible security financings with market price based conversion ratios have colloquially been called "floorless", "toxic," "death spiral," and "ratchet" convertibles.
Both investors and companies should understand that market price based convertible security deals can affect the company and possibly lower the value of its securities. Here's how these deals tend to work and the risks they pose:
* The company issues convertible securities that allow the holders to convert their securities to common stock at a discount to the market price at the time of conversion. That means that the lower the stock price, the more shares the company must issue on conversion.
* The more shares the company issues on conversion, the greater the dilution to the company's shareholders will be. The company will have more shares outstanding after the conversion, revenues per share will be lower, and individual investors will own proportionally less of the company. While dilution can occur with either fixed or market price based conversion formulas, the risk of potential adverse effects increases with a market price based conversion formula.
* The greater the dilution, the greater the potential that the stock price per share will fall. The more the stock price falls, the greater the number of shares the company may have to issue in future conversions and the harder it might be for the company to obtain other financing.
Before you decide to invest in a company, you should find out what types of financings the company has engaged in - including convertible security deals - and make sure that you understand the effects those financings might have on the company and the value of its securities. You can do this by researching the company in the SEC's EDGAR database and looking at the company's registration statements and other filings. Even if the company sells convertible securities in a private, unregistered transaction (or "private placement"), the company and the purchaser normally agree that the company will register the underlying common stock for the purchaser's resale prior to conversion. You'll also find disclosures about these and other financings in the company's annual and quarterly reports on Forms 10-K and 10-Q, respectively, and in any interim reports on Form 8-K that announce the financing transaction.
If the company has engaged in convertible security financings, be sure to ascertain the nature of the convertible financing arrangement - fixed versus market price based conversion ratios. Be sure you fully understand the terms of the convertible security financing arrangement, including the circumstances of its issuance and how the conversion formula works. You should also understand the risks and the possible effects on the company and its outstanding securities arising from the below market price conversions and potentially significant additional share issuances and sales, including dilution to shareholders. You should be aware of the risks arising from the effects of the purchasers and other parties trading strategies, such as short selling activities, on the market price for the company's securities, which may affect the amount of shares issued on future conversions.
Companies should also understand the terms and risks of convertible security arrangements so that they can appropriately evaluate the issues that arise. Companies entering into these types of convertible securities transactions should understand fully the effects that the market price based conversion ratio may have on the company and the market for its securities. Companies should also consider the effect that significant share issuances and below market conversions have on a company's ability to obtain other financing.
Companies or investors seeking to learn more about the SEC's registration requirements for common stock issuable upon conversion of unregistered convertible securities, including the timing of the filing of the resale registration statement and the appropriate form that the company may use to register the resale, should consult the Division of Corporation Finance's Compliance and Disclosure Interpretations.
$OMVS - SMP Robotics Unveils Security Robots with Enhanced AI https://shar.es/1V9Aqo via @unmannedsystem #S5SecurityGuardRobot #CheckTheEnhancedFeatures
$OMVS - Nvidia was first, then expo a Nvidia was first, then expo pic.twitter.com/PSAAGY0wQb
Steve Reinharz (@SteveReinharz)
4, 2017 #Nvidia & #DroneExpo
$OMVS - Final little run-about before delivery to Romeo (today!) Steve Reinharz (@SteveReinharz) Final little run-about before delivery to Romeo (today!) pic.twitter.com/GR87z1eW9v
3, 2017 #ROMEOPOWER #RoboticAssistanceDevices
Session Detail http://droneworldexpo.com/sessions_detail.asp?id=4452#sthash.lfKA2yfW.qIcsSYoi.uxfs #DroneSurveillance #SteveReinharz #SIA #RoboticAssistanceDevices
$OMVS http://twitter.com/SteveReinharz/status/897905433448398848">August 16, 2017 .
#AlliedUniversal #RadBotSecurity #RoboticAssistanceDevices https://www.linkedin.com/feed/update/urn:li:activity:6303667814532284417/ Matt Klock - Vice President of Sales at Robotic Assistance Devices
$OMVS versus - Fired: Prudential Center robot is escorted out www.wcvb.com/article/fired-prudential-center-robot-is-escorted-out/12437749 #RoboticAssistanceDevices#1 .....................................................................Mall security bot knocks down toddler, breaks Asimov's first law of robotics https://www.theverge.com/2016/7/13/12170640/mall-security-robot-k5-knocks-down-toddler?utm_campaign=theverge&utm_content=entry&utm_medium=social&utm_source=twitter via @Verge
DC security robot quits job by drowning itself in a fountain https://www.theverge.com/tldr/2017/7/17/15986042/dc-security-robot-k5-falls-into-water?utm_campaign=theverge&utm_content=entry&utm_medium=social&utm_source=twitter via @Verge
$OMVS - Off to explore another galaxy! Farewell, Knightscope K5. Thank you for your service! ???? PrudentialCtr Boston (@pruboston) https://twitter.com/pruboston/status/910128575273160704?ref_src=twsrc%5Etfw">September 19, 2017 ... #RoboticAssistanceDevices#1 #S5RobotsecurityGuard .......CHECK out Steves Tweet!!$$ Not our market, this year (hint).
$OMVS - I love these guys, changing the world @nvidia Steve Reinharz (@SteveReinharz) I love these guys, changing the world @nvidia
4, 2017 #NVIDIA #Robotics #RobotSecurityGuard #Al #RoboticAssistanceDevices
I agree! One did read it wrong. So, here's the deal....for those that fail to read at a 6th grade level, please enlighten all of them and please describe in a professional manner (using SEC guidelines to do so) why OMVS would have to report any signed purchase/rental contract agreements promptly in an 8-K. If one understands it so thoroughly, they shouldn't mind explaining it to the less comprehensibly fortunate, correct? LMAO I will be waiting. We all will be waiting.
I would not ask anyone on these boards for advice. That's the only advice I will offer you. LOL
It has not proven to be a toxic shell, again your opinion only.
Not mine, I came to the party late like I said. The money spent to do those POC demos was long spent before I came aboard.
So, RAD spent its own dime (yours) to get someone to take its robots?
I am new to this. Should I sell OMVS? I have $13,500 invested at .16 per share. I have already lost over half. Should I get out or hold on for the long haul?
Not true, most companies have a track record of success prior to going public. Those that go public with a concept are usually capitalized by insiders in return for restricted shares
Even a brand new company/concept can merge into a clean new shell for under $100k.
So why did rad merge into a toxic shell like omvs? To preserve the delinquent convertible notes already present. Bad deal for shareholders that’s for sure
The July deployments were POC (PROOF OF CONCEPT) not rentals or clients but more like prospective clients. "Try it before you buy it" so to speak. No misleading statements there that I know of.
Ah, now I see your point. Maybe NVidia asked RAD to be there even though they were not an exhibitor. I'm sure NVidia wants people to see how others are using their tech. Not sure exactly who is putting NVidia's Jetson TX2 AI module into the bot, RAD or SMP, but they are sharing the same headquarters and there seems to be some intimacy there, for lack of a better word. Some speculate SMP will be folded into OMVS. Not sure about NVidia being a customer of RAD, but yeah that would obviously be huge news. It's nice to speculate, but I'm patient enough to wait for whatever is announced. The stock is basically an option without an expiration date at this price as long as dilution is kept under control.
No deployments yet I read the pr yesterday...
Someone didn't, but I will paraphrase..
Getting 2 rental robots ready for deployment for our first client...
Not yet deployed, first client..
What's missing...
Omvs/rad no deployments yet per pr yesterday..
So who is misleading who...
I can tell it's another reverse merger scam.
How’s that working out so far?
And to boot on that...
Omvs/rad most likely paid for the booth with diluted shares and toxic funding....
Anyone can stick a nvidia sticker on it's product and sell it, just open up your average laptop etc...
Free publicity for the company...
Far from the truth..
Take a laptop and then look at it and then you would see powered by intel, amd graphics etc...
Most companies use logos from others to sell...plain and simple...
Omvs/rad using nvidia boards, free publicity for nvidia...
To use for what? Perimeter security at a chip factory? They’re overseas and 1000’s of ppl every day go in and out to their jobs there.
NVIDIA has no use for security robots. The bot was at the NVIDIA conference as an example of what NVIDIA chips are used in.
In fact, these “conferences” companies get “invited” to attend, yet have to pay for their booth
i can tell we've got a huge run coming.
Makes me sad when good ppl throw away good money on a POS like this
That is my point. Neither RAD nor SMP were exhibitors at the Nvidia conference. So how did a RAD bot crash the party? Answer ...
Nvidia was showing off the RAD bot at their own conference.
I hope Nvidia is a customer of the RAD bot. It wouldn't make sense to me that RAD would be the customer of Nvidia because SMP builds the robots. SMP handles the hardware. SMP would be the customer. At least that is how I understand it. Translation = I think Nvidia is renting RAD bots now or soon. I await some kind of Press Release or filing confirming this.
I came out fine. I got in late as a trader at .18 but lowered my avg with an .11 buy. I too fell into the hype so I rode out the .28 high and got out at .18 for a small profit. Now that my delusion is gone and I'm back to my senses, trading it correctly is about all I do cause its so predictable. This morning when it was at .0540 I put in a buy order at .0500 and went to work without even looking at it or stressing. I got home and see my order filled. Now I wait for the next bump. My avg now is .0565 so I don't need a huge bump. Rinse and repeat. If they release something substantial then its all gravy to me.
Oh brother. Read the pro forma financials, the most recent public information available. Toxics out the wazoo.
So, what's the share count right now? I mean, give me a number.
Yes Max, we should all be setting stop losses. Unfortunately some brokers don’t allow stop losses on otc or pennies, I.e. fidelity
I set mine to trigger on break of support. Some otc trade wildly so that could still be a pretty big precentage.
Noobs or not plenty of people I’ve talked to online are down 50-75% on this POS.
Without an 8K on actual contracts, and with ongoing dilution those losses are only get bigger as ppl continue to hold. Averaging down will make the perceived percentage of loss look lower, but will make the actual $$$ amount lost higher (throwing good money after bad)
Now that ppl know the truth about omvs, as many have posted, and many former bulls have turned bear, ppl have stopped averaging down, new people have long stopped buying in. Volume is down. Given it takes more volume to support the higher float, pps will continue to drop in the lack of volume and increasing share count.
Good to see you posting here Max, I’m sure you came out ok on this one
I'm not seeing it in that link! Can you check again?
Good find. However this is what it says in the article you provided ...
First of all, I like you KellieBlue. You have spunk. That being said, shouldn't standard procedure (especially in otc) be to set stop losses? If they got in at .10, wouldn't .09 be a loose stop at -10%? That's basic trading IMO and anything else is lack of discipline and a noob mistake. That is nothing to base an argument on.
It’s not till April, who cares? I’ll be long gone by then
Followers
|
632
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
61519
|
Created
|
06/29/11
|
Type
|
Free
|
Moderators Huggy Bear Alexulf |
Steve Reinharz, founder of AITX came upon the concept of ‘Autonomous Remote Services (ARS)’ as the logical, certainly not natural, next phase in industrial evolution.
ARS represents a wholesale business transformation of the security and other industries presently bound with personnel. It’s a pure, 4th Industrial Revolution application of how we should be thinking about the best ways to deliver security, facility, concierge, and health screening services by engineering solutions from the ground up.
AITX’s wholly owned subsidiaries have created the new Autonomous Remote Services industry using custom designed robotics and artificial intelligence-based technology. These solutions empower organizations to improve efficiencies in high frequency workflow tasks, deploy needed technology in areas previously impossible, solve complex challenges, and do it all at costs significantly lower than legacy solutions.
“…the EQ philosophy extends to clients, investors, and other stakeholders. Technology solutions created by an EQ-empowered workforce will be thoughtful, performance-driven, deliver honestly against expectations, and deliver value based on merit – just like the team that developed it. “
“By creating a corporate culture driven by EQ strategy, you can feel confident that RAD’s tremendous team has all the direction, structure, support, and focus necessary to deliver on our mission. “
© 2022 All Rights Reserved, Artificial Intelligence Technology Solutions Inc.
As of September 27, 2023 • 9:31 AM ET
As of September 27, 2023 • 9:31 AM ET
03/23/2023 08:53 AM EDT | SeekingAlpha | AITX's Subsidiary Robotic Assistance Devices nabs GPO contract |
02/27/2023 08:58 AM EST | SeekingAlpha | AITX subsidiary Robotic Assistance Devices nabs 300+ device orders |
02/13/2023 05:54 AM EST | Invezz | 2 reasons why the AITX stock price has surged in 2023 |
DISCLAIMER:
Nothing in the contents transmitted on this board should be construed as an investment advisory, nor should it be used to make investment decisions.
There is no express or implied solicitation to buy or sell securities.
The author(s) may have positions in the stocks or financial relationships with the company or companies discussed and may trade in the stocks mentioned.
Readers are advised to conduct their own due diligence prior to considering buying or selling any stock. All information should be considered for information purposes only.
No stock exchange has approved or disapproved of the information here.
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |