It’s been a couple of weeks since the last time we mentioned On The Move Systems Corp. (OTMKTS:OMVS) here on Street Register, and we were awaiting some operational updates that have since come along, so we wanted to share them with our readers today.
In case you don’t recall, or didn’t catch our previous article on OMVS, the company signed a binding letter of intent this spring, to acquire Robotic Assistance Devices (RAD), a developer of artificial intelligence and robotic solutions for operational, security and monitoring needs. At the time, that company was just on the brink of shipping the first robotic guards to customers. It had also set a goal to meet 60 reservations for those autonomous guard units by the end of the summer, and was roughly halfway to that milestone. But the acquisition deal was still pending.
It has now been reported On The Move Systems Corp. (OTMKTS:OMVS) is still on track to officially acquire RAD later this week, and become the steward for RAD’s increasingly in-demand custom robotic security units.
The S5 Robotic Guard from Robotic Assistance Devices and SMP Robotics is a fully autonomous unmanned ground vehicle that incorporates advanced intelligence to augment traditional patrolling services by detecting outdoor activity, including humans and vehicles. It operates up to 12 hours without recharging and continuously monitors in any weather environment with temperatures ranging from -7° F to 110° F.
It incorporates automatic obstacle avoidance sensors, two-way audio, panic button and on-board panoramic video surveillance. It integrates with leading video management solutions, including Milestone, and supports other business systems for special equipment, sensor integration and advanced software development. Data is captured and stored in the cloud for long-term retention.
That sort of ‘next-gen’ concept was what initially drew us to highlight OMVS for the first time back in June, and we weren’t the only ones who were impressed, as the reservations for have been piling up, evidenced by the reaching of the lofty goal the company had set for the summer launch.
Most recently, the company 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.” (Source: Marketwired)
We are pretty excited to see how far OMVS can take RAD’s robot guards, which are developed and produced via an exclusive partnership with SMP Robotics, and look like a cross between a security observation post and a futuristic all-terrain vehicle (See pictures here). The progress from our first mention up to the present has been impressive, not only operationally but on the chart as well. We’ve witnessed OMVS trade from the .03-range in June, to this week’s new highs of more than .25. Stay locked to Street Register for updates, and we’ll deliver important developments on OMVS as they unfold. In the meantime, if you’ve yet to sign up for our 100% free newsletter, do so now! Just enter your active email address into the box below and submit!
Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in OMVS stock, short or long.