On The Move Systems Corp
Shares of On The Move Systems Corp (OTCMKTS:OMVS) fell 17.94% after the company announced its wholly owned subsidiary, Robotic Assistance Devices (RAD), is preparing to deploy its first two autonomous security robots this month. The subsidiary has already received $6 million worth of commitments from clients.
OMVS Stock Performance
On The Move Systems Corp (OTCMKTS:OMVS) has yet to find its spark in the market following the completion of Robotic Assistance Device acquisition. The acquisition was expected to strengthen investor confidence on the stock. However, that has not been the case, as the stock continues to drop after rising to $0.27 a share in August.
While the stock is still up by more than 40% for the year, it risks losing all its gains given the strength of the selling pressure. It now awaits to be seen if the deployment of RAD’s robots will help strengthen investors’ confidence on the stock.
“We are very happy to be preparing our robots for deployment to our first client as we move towards reaching our deployment targets. And we are seeing strong demand for our automation security solutions from the marketplace both at the end user and the distributor level,” said Steve Reinharz, president, and CEO of RAD.
RAD Marketing Strategy
Robotic Assistance Devices has already signed two proof-of-concepts agreements with major companies, waiting to see if the deals will materialize to solid orders. RAD also plans to offer its security guard robotics solution through an integrator channel.
By leveraging the power of an integrator, RAD hopes to expand the geographic reach of its innovative S5 security Guard Robot. In addition, the company has a sales pipeline of over 50 Fortune 500 companies through which it hopes to ink deals for its pipeline of products. The company also has a network of over 25 qualified dealers and distributors, with a combined customer base of more than 35,000 end-user corporations.
Mark McCourt Hiring
Separately, On The Move Systems Corp (OTCMKTS:OMVS) has hired security veteran Mark McCourt as a strategic advisor. The former Vice President at Allied Universal is tasked with the responsibility of spearheading relationships and driving strong partnerships across the guarding services and technology ecosystem.
“I’m excited to work with a company like RAD that is challenging the industry to expand beyond traditional tactics and embrace emerging technologies to propel new levels of efficiencies,” said Mr. McCourt.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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