OMVS: Robotic Assistance Devices Signs Agreement for POC with Major Green Energy Utility
Henderson, Nevada (Newsfile Corp. - June 19, 2017) - On the Move Systems (OTC Pink: OMVS) is pleased to announce that Robotic Assistance Devices (RAD - www.roboticassistancedevices.com) has entered into an agreement for a paid proof of concept (POC) with a major green energy utility with over 50,000 employees worldwide. RAD will deploy a robot at the utility during the month of July. The POC is scheduled to last 90 days after which, if satisfied, the utility is expected to place orders with RAD for robots across their U.S. network of power plants. 'We are currently working with several utilities that have demonstrated strong interest to undergo POCs,' said Steve Reinharz, President and CEO of RAD, 'And we expect to enter into several other POC agreements with other utilities in the near future.'
RAD expects to deploy robots to end users in July. To date RAD has commitments for 15 robots for total contract values of approximately $1.5 million. OMVS is continuing its due diligence process on RAD as part of the binding LOI that was entered into last week for the purchase of 100% of RAD by OMVS. It is anticipated that the acquisition will close before August 10, 2017.
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.
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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.
Investor Relations:Everest Corporate Advisors Inc.Jack Thompsonwww.everestcorp.net702-902-2361
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19.06.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English
Company: On the Move Systems Corp.
United States ISIN: US68220L2034 End of News DGAP News Service