RENO — On the Move Systems (OTC PINK: OMVS) announced Monday that Robotic Assistance Devices (RAD) 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 percent of RAD by OMVS. It is anticipated that the acquisition will close before August 10, 2017.
RAD currently has signed agreements for two 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.
