Henderson, Nevada–(Newsfile Corp. – May 30, 2017) – On the Move Systems (OTC Pink: OMVS) is pleased to announce that Robotic Assistance Devices (RAD – http://ift.tt/2nD1OCZ) is in advanced discussions with a major distribution partner for the distribution of its autonomous robotic units in North America. RAD’s partner manages tens of thousands of security guards and has thousands of clients.
“We believe that the versatility of your security robots, particularly the all-terrain capability and advanced electronics allowing integration into our client’s existing security systems, allows us to offer supplemental security services that will significantly benefit our customers,” said a Vice President of the partner in charge of corporate security services. “Our intention is to support and team with you to offer your security robots along with our human guards through our network of locations to our existing customer base.”
RAD expects to sign a distribution agreement with this partner in approximately 30 days. The name of the potential distribution partner cannot be mentioned at this time due to confidentiality.
RAD is expected to commence proof of concepts in July and to sign on new clients. This is in addition to the existing 10 robot commitments that were signed up last month for total contract values of $1 million. OMVS is continuing its due diligence process on RAD as part of the binding LOI that was entered into on May 11th, 2017 for the purchase of 100% of RAD by OMVS. It is anticipated that the acquisition will close before August 10, 2017.
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.
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This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements in this news release other than statements of historical fact are “forward-looking statements” that are based on current expectations and assumptions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the statements, including, but not limited to, the following: the ability of On the Move Systems to provide for its obligations, to provide working capital needs from operating revenues, to obtain additional financing needed for any future acquisitions, to meet competitive challenges and technological changes, and other risks. On the Move Systems undertakes no duty to update any forward-looking statement(s) and/or to confirm the statement(s) to actual results or changes in On the Move Systems expectations.
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