AITX Signs $5 Million Revolving Credit Term Sheet to Fuel Momentum

Core Viewpoint - Artificial Intelligence Technology Solutions, Inc. (AITX) has signed a term sheet for a revolving credit facility of up to $5 million to support its sales growth without diluting existing shareholder equity [1][4]. Group 1: Financial Arrangement - The proposed credit facility will have an interest rate of approximately 14% plus related fees, with interest-only payments for the first year [3]. - The credit facility is expected to provide AITX with flexible access to growth capital, allowing the company to build inventory without relying on stock sales [4]. Group 2: Company Overview - AITX, through its subsidiary Robotic Assistance Devices, Inc. (RAD-I), is innovating in the $50 billion security and guarding services industry by offering AI-driven Solutions-as-a-Service [6]. - RAD-I's solutions can save businesses between 35%-80% compared to traditional manned security services, utilizing both stationary and mobile robotic solutions [6]. Group 3: Market Position and Prospects - AITX has a prospective sales pipeline that includes over 35 Fortune 500 companies, indicating strong potential for recurring revenue through reorders [8]. - The company has successfully completed its SOC 2 Type 2 audit, enhancing its credibility with enterprise and government clients who require strict data protection [7]. Group 4: Technological Innovation - AITX's technology aims to streamline operations, increase ROI, and enhance situational awareness for organizations across various industries, including government, transportation, and healthcare [9].