AITX CEO Steve Reinharz provides a direct update on the Company’s plan to reduce operating expenses by up to $2.5 million annually and narrow the remaining path toward positive operational cash flow.
Steve discusses the difficult restructuring decisions made this week, including team reductions, employee pay deferrals, cloud-cost savings and other operating changes expected to phase in over the next five months.
He also outlines the rough financial gap management is working to close, the progress of paid ROAMEO deployments, five scheduled SARA client deployments in August, and a major 24-unit order for an existing data center construction customer.
The video also addresses why certain customer names remain confidential and when AITX could potentially reach positive operational cash flow based on current expectations.
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