$AITX CEO Steve Reinharz' Weekend Update

$AITX CEO Steve Reinharz' Weekend Update - July 20, 2024

Introduction

Artificial Intelligence Technology Solutions, Inc. (AITX) has been making significant strides in various areas of its business, and CEO Steve Reinharz offers a comprehensive update on these developments. This week, Reinharz discusses firearm detection technologies, Q filings, AMA sessions, a presentation in Florida, and new financing terms. Here’s a detailed breakdown of the updates shared by Reinharz.

Firearm Detection Technologies

AITX has been making notable progress in the area of firearm detection analytics. Currently, three active customers are using their first-generation firearm detection solution. The company recently introduced a second-generation analytic and is seeking Safety Act Certification, which would position AITX as one of the few vendors specialized in this crucial area. Reinharz mentions a recent incident involving a presidential candidate that underscores the growing need for robust firearm detection solutions.

Zero Now, an organization focused on implementing firearm detection in K-12 schools, has accepted AITX as a member. This initiative aims to enhance school safety across the United States.

Q Filings

Reinharz proudly announces that AITX has filed its quarterly (Q) report on time, maintaining a perfect record for the last 4-5 years. The Q report indicates that AITX is on the right track with great results and progress, narrowing the gap between expenses and revenue, ultimately working towards profitability.

Sunday AMA

An "Ask Me Anything" (AMA) session is scheduled for Sunday with Buffalo Fireside. A press release about this was issued earlier, and many questions have already been submitted. Reinharz encourages anyone with additional questions to send them in or participate live.

Florida Presentation

Reinharz is in Tampa, Florida, preparing to present at the ASIS Tampa Group seminar. This event contributes to continuing education credits for attendees. His presentation will focus on Autonomous Intelligent Response (AIR), which he describes as being in a nascent stage but about to mature through platforms like Rosa 4 and RADCam.

New Financing Terms

AITX has successfully secured new financing terms after an intense nine-week negotiation process. These improved terms mean that AITX will receive 25-35% more money for each share sold to their institutional investor. Reinharz credits their investment bank for their consistent performance and support. This new deal is expected to reduce dilution and provide more operational flexibility.

Conclusion

Reinharz signs off by reminding everyone about the AMA session on Sunday and expressing his enthusiasm for the company's forward momentum.

Keywords

Artificial Intelligence Technology Solutions
Firearm Detection
Safety Act Certification
Zero Now
Q Filings
AMA (Ask Me Anything)
ASIS Tampa Group
Autonomous Intelligent Response (AIR)
New Financing Terms
Institutional Investor

FAQ

1. What is Zero Now?

Zero Now is an initiative aimed at implementing firearm detection technologies in K-12 schools across the United States. AITX has been accepted as a member of this organization.

2. What is the significance of the Safety Act Certification?

The Safety Act Certification would establish AITX as one of the few specialized vendors in firearm detection solutions, enhancing the company's credibility and market reach.

3. How is AITX performing financially?

According to the latest Q filings, AITX is showing progress in narrowing the gap between expenses and revenues, aiming for operational profitability.

4. What is Autonomous Intelligent Response (AIR)?

AIR is AITX's autonomous solution, currently being developed and expected to mature through products like Rosa 4 and RADCam.

5. What are the new financing terms for AITX?

AITX has secured new financing terms that will yield 25-35% more money per share sold to their institutional investor, improving the company's financial flexibility and reducing dilution.