Key Catalyst Behind Recent Momentum of Artificial Intelligence Technology (AITX) stock

Artificial Intelligence Technology (AITX) stock is in Robotics Assistance Devices business ‎surged over 93% yesterday and over 1800% in a month. AITX Shares had an avg weekly ‎volume of 342 million and traded around 836.29 million yesterday alone. ‎

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‎Key Developments Behind this Moment:

In most recent news, AITX announced that the primary dealer of AITX’s wholly owned ‎subsidiary Robotic Assistance Devices (RAD) had received a highly anticipated order for a 5-‎unit RAD solution. A Fortune 500 end-user client with over 10 distribution centers and over ‎‎7,500 retail outlets in the U.S. and Puerto Rico will be equipped with this integrated ‎autonomous remote security and access solution. The agreement’s details were not disclosed, ‎but the company confirmed that it had been told that the contracts would be received by the ‎end of this year. AITX stock saw a jump of over 429% in the last one week after the news ‎until previous closing at the price of $0.0249. ‎

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A little back on Dec 17,RAD also entered into another agreement with Civitas PSG, one of ‎Romania’s largest security companies. Through this agreement, Civitas is expanding its ‎offering to include autonomous remote security solutions for RAD. Again specifics of the ‎agreement have not been disclosed, but the company has confirmed that the agreement ‎covers all mobile and stationary RAD security devices, including the recently announced ‎ROAMEO mobile robot and Wally HSO, which are actively deployed for health screening ‎health monitoring and face detection operations.‎

But….

The real momentum for the company was started about the news that Artificial Intelligence ‎Technology Solutions, Inc. (OTC:AITX) reported that a large number of its debt had been ‎restructured, which has saved the company a significant amount of dilution. Specifically, over ‎‎85% of its convertible debentures have been restructured by AITX into non-convertible notes ‎and warrants. The remaining noteholders have made no conversions in the last two years ‎period, and the company does not expect any further modifications until restructuring the ‎remaining balance.‎

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‎Let us know in the comments section what you like about AITX stock and share your ‎thoughts.

Disclaimer: Writer of this article don’t own any shares of AITX when writing this article.

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