OMVS: Robotic Assistance Devices Signs New Distributors - Increases Robot Reservations to 62
August 07 2017 - 9:32AM
InvestorsHub NewsWire
RENO, NV--(NewMediaWire - Aug 7, 2017) - On the Move
Systems (OTC PINK: OMVS) is pleased to announce that Robotic
Assistance Devices (RAD - www.roboticassistancedevices.com)
has added two new distributors to its distribution network. RAD's
market strategy is to access clients for its robots directly and
through a network of distributors in order to rapidly penetrate the
market and increase robot deployment. RAD has also received an
additional 22 robot reservations bringing total robot reservations
to 62 for total contract values of approximately $6 million. "We
are pleased to have exceeded our goal of 60 reservations in advance
of our end of summer deadline and to add two additional
distributors to our growing distribution network," said Steve
Reinharz, President and CEO of RAD. "By leveraging our own network
and that of our distributors, we expect to be able to penetrate the
market in a fast and efficient manner as we strive to capture a
significant portion of our marketplace."
RAD has commenced to deploy robots to end users. To date RAD has
commitments for 62 robots for total contract values of
approximately $6 million. 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 POC's 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.
For further information please refer to www.sec.gov
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 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.
CONTACT INFORMATION
Investor Relations:
Everest Corporate Advisors Inc.
Jack Thompson
www.everestcorp.net
702-902-2361
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