SOURCE: On the Move Systems

On the Move Systems

July 24, 2017 09:00 ET

OMVS: Robotic Assistance Devices Prepares to Deploy Robot At Major North American Utility

HENDERSON, NV--(Marketwired - Jul 24, 2017) - On the Move Systems (OTC PINK: OMVS) is pleased to announce that Robotic Assistance Devices (RAD -- is preparing to deploy one of its robots with a major North American utility client with over 5,000 employees. RAD previously announced that it entered into an agreement with this client for a proof of concept ("POC") on June 22, 2017. RAD will be deploying the robot this week. The POC is scheduled to last 20 days after which, if satisfied, the utility is expected to place orders with RAD for robots. "We are very happy to be deploying one of our autonomous security robots with this major utility," said Steve Reinharz, President and CEO of RAD. "We are currently working with other large companies and distributors and we expect to enter into several other POC agreements with other large companies in the near future."

RAD expects to deploy robots to end users in July. To date RAD has commitments for 30 robots for total contract values of approximately $3 million and expects to receive commitments for a total of 60 robots for total contract values of approximately $6 million by the end of the summer. OMVS has successfully completed its due diligence process on RAD as part of the binding LOI that was entered into on May 10th, 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 signed agreements for 2 POCs with major companies.

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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