Internet of Things changes name to Predictiv AI, consolidates outstanding shares

Internet of Things Inc (CVE:ITT) (OTCMKTS:INOTF), a software and solutions provider in the artificial intelligence and industrial IoT markets, has changed its name to Predictiv AI Inc.  The share consolidation trimmed the company’s outstanding shares at a ratio of up to 5.5:1 pre- to post-consolidation shares. Post-consolidation, there are now 61,345,803 shares issued and outstanding.  The shares will trade on a post-consolidated basis under its new name and ticker symbol "PAI" on the TSX Venture Exchange at the opening of trading on September 1.  READ: Internet of Things working with Makel Engineering to conduct testing on ThermalPass fever detection system ahead of launch The company changed its name to reflect its broader commitment and expertise in accelerating artificial intelligence (AI) innovation as it advances AI and machine learning solutions. The board of directors believes that the consolidation will expand its competitiveness in the marketplace and make its securities more attractive to a wider audience of potential investors.  In other news, the company said that shareholders re-elected Jim Grimes, Jerry Grafstein, Millard Roth, and Michael Lende as directors. In addition, shareholders approved the reappointment of RSM LLP as auditors. Subsequent to the shareholder meeting, the board of directors reappointed Michael Lende as president and CEO and Khurram Qureshi as chief financial officer. "If you can predict the future, you can profit from it," said CEO Lende in a statement. "Predictiv AI is what you get when historical datasets meet current datasets to produce future trends. We provide the tools to look into the future and help our customers make the right decisions to operate safer, better, and smarter. We help myriad industries identify patterns so they can crack the code and be more efficient, effective, and precise at mining and managing data to avoid hidden risks and improve outcomes." Predictiv AI said it is already applying its next-generation AI and machine learning analytics to shape the future in the public safety sector with the introduction of ThermalPass, an AI-enabled, thermal sensor temperature screening system.  ThermalPass was developed to mitigate the spread of COVID-19 and other contagions in high-traffic locations like supermarkets, drugstores, schools, office complexes, movie theaters, sports arenas and more. Contact the author: patrick@proactiveinvestors.com Follow him on Twitter @PatrickMGraham