Artificial Intelligence Technology Solutions Inc (AITX)

[Malone]

ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
On May 11, 2017, On the Move Systems Corp. (the “Registrant” or “Company”) announced that, effective
May 10, 2017, it entered into a Binding Letter of Intent (“Binding LOI”) with Robotic Assistance Devices LLC,
a limited liability corporation duly formed under the laws of the State of Wyoming, (“RAD”) (collectively the
“Parties”), setting forth the principal terms pursuant to which the Company will acquire all of the ownership and
equity interest in RAD (“RAD Equity”), which RAD Equity is held by RAD’s sole director, shareholder and
CEO, Steve Reinharz (“SR”) (the “Transaction”).
The Binding LOI sets forth the terms of the Transaction as follows:
(i) In consideration for the whole of the RAD Equity, OMVS shall issue to SR:
(a) 3,350,000 shares of Series E Preferred Stock; and
(b) 2,450 shares of Series F Preferred Stock;
(ii) Subject to OMVS declaring itself satisfied with its due diligence of RAD within 60 days
of the execution of this Binding LOI, the Parties agree to enter into definitive agreements for the consummation
and closing of the Transaction within 90 days of the execution of this Binding LOI.
The above description of the Binding LOI is filed as Exhibit 10.1 h