AITX to Transition to OTCID Market Classification

/EIN News/ -- AITX Continues its Longstanding Commitment to Highest Levels of Compliance and Transparency

Detroit, Michigan, Oct. 31, 2024 (GLOBE NEWSWIRE) -- Artificial Intelligence Technology Solutions, Inc., (the “Company”) (OTCPK:AITX), a global leader in AI-driven security and productivity solutions, announces its transition to the newly established OTCID Market, which will become effective in July 2025, at which time the OTC Markets Pink Current Market will become OTCID. The OTCID Market will formally recognize companies like AITX that meet the future OTCID current information reporting requirements, once established. AITX’s application to OTC Markets for the OTCID Market has been signed, filed and is up to date.

OTC Markets will publish the OTCID requirements later this year. AITX has an established history since 2019 of consistently meeting its informational requirements with OTC Markets by providing an even higher level of disclosure through the filing of its periodic reports and reports of material events with the Securities and Exchange Commission (the “SEC”) and will continue to do so through OTCID. SEC reports reflect greater disclosure requirements than the Pink Current system and the future OTCID market by adhering to rigorous SEC disclosure standards, including compliance with the Sarbanes-Oxley Act and filing reports that require detailed financial statements, management discussions, risk factors, and disclosures on material changes in company operations, legal proceedings, executive compensation, and strict corporate governance standards. Further, the Company’s SEC filings are subject to auditing (annual) and limited reviews (quarterly) by third-party auditors, ensuring accuracy and regulatory compliance. Additionally, SEC filers are required to disclose insider trading activity, executive compensation, and adhere to stricter corporate governance standards

“Transitioning to the OTCID Market reflects our continuing journey towards a potential uplisting to NASDAQ and reflects our commitment to transparency and to building trust within the investment community. AITX is dedicated to both compliance and growth as we work to bring long-term value to our shareholders,” said Steve Reinharz, CEO of AITX.

AITX, through its subsidiary, Robotic Assistance Devices, Inc. (RAD), is redefining the nearly $50 billion (US) security and guarding services industry¹ through its broad lineup of innovative, AI-driven Solutions-as-a-Service business model. RAD solutions are specifically designed to provide cost savings to businesses of between 35%-80% when compared to the industry’s existing and costly manned security guarding and monitoring model. RAD delivers these tremendous cost savings via a suite of stationary and mobile robotic solutions that complement, and at times, directly replace the need for human personnel in environments better suited for machines. All RAD technologies, AI-based analytics and software platforms are developed in-house. 

RAD has a prospective sales pipeline of over 35 Fortune 500 companies and numerous other client opportunities. RAD expects to continue to attract new business as it converts its existing sales opportunities into deployed clients generating a recurring revenue stream. Each Fortune 500 client has the potential of making numerous reorders over time.

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, RAD-R, RAD-M and RAD-G 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 staff 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, www.radsecurity.com, www.radcam.ai, www.stevereinharz.com, www.radgroup.ai, www.raddog.ai, and www.radlightmyway.com, or follow Steve Reinharz on Twitter @SteveReinharz.

CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS
The information contained in this publication does not constitute an offer to sell or solicit an offer to buy securities of Artificial Intelligence Technology Solutions, Inc. (the “Company”). This publication contains forward-looking statements, which are not guarantees of future performance and may involve subjective judgment and analysis. The information provided herein is believed to be accurate and reliable, however the Company makes no representations or warranties, expressed or implied, as to its accuracy or completeness. The Company has no obligation to provide the recipient with additional updated information. No information in this publication should be interpreted as any indication whatsoever of the Company’s future revenues, results of operations, or stock price.

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Steve Reinharz
949-636-7060
@SteveReinharz

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¹ https://www.ibisworld.com/united-states/market-research-reports/security-services-industry/