Reno, NV, Dec. 11, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Artificial Intelligence Technology Solutions (AITX: OTCPK) is pleased to announce that it has restructured approximately $950,000 worth of debentures. These debentures that originally matured during the year 2018 have now been extended by three years and will mature during the year 2021. The company is continuing discussions with debenture holders and expects to restructure more of these debentures in the near future. “The company’s goal is to restructure approximately $4,000,000 worth of debentures before the end of this fiscal year,” said Garett Parsons, President and CEO. “With almost one million dollars done, we are off to a good start.” The debenture restructure is effective immediately and will be reflected in the company’s financial statements for its third quarter ended November 30th.
The company may post important information about its subsidiary RAD on its website at www.Robotic AssistanceDevices.com and through tweets from RAD President and CEO Steve Reinharz (https://twitter.com/SteveReinharz)
CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS
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 Artificial Intelligence Technology Solutions 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. Artificial Intelligence Technology Solutions undertakes no duty to update any forward-looking statement(s) and/or to confirm the statement(s) to actual results or changes in Artificial Intelligence Technology Solutions expectations.
About RAD
Robotic Assistance Devices (RAD) 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, RAD can help organizations streamline operations, increase ROI and strengthen business. RAD robotics 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 staffs and gain higher levels of situational awareness, all at drastically reduced cost. RAD robotic solutions are well suited for use in multiple industries such as enterprises, government, transportation, critical infrastructure, education and healthcare. To learn more, visit www.roboticassistancedevices.com or follow us on Twitter @RADbotsecurity.