AITX Reinforces Commitment to Investors with Extended Timeline
AITX Reinforces Commitment to Investors
Artificial Intelligence Technology Solutions, Inc. (OTCPK: AITX) has taken an important step to reassure its investors. Recently, the company announced that it is extending its commitment to avoid executing a reverse stock split until at least January 1, 2026. This extension, which is crucial for retail investors, is designed to strengthen trust and stability in the company’s operations.
Commitment Extension Details
The extension builds on an existing corporate amendment that was set to expire on January 1, 2025. The company has stated that this commitment will remain in place with two main exceptions: in the event of an uplist to a major exchange such as NASDAQ or NYSE or if there is a reduction in authorized shares that matches the outstanding shares. This proactive approach underscores AITX’s dedication to fostering a positive relationship with its shareholders.
CEO Steve Reinharz's Statement
Steve Reinharz, the CEO of AITX, expressed his understanding of the anxieties faced by retail investors due to persistent rumors regarding a reverse stock split. He commented, “While we have had no intention of conducting a reverse stock split until we uplist to a major exchange, my decision to extend this time period by one year reflects our commitment to our investing community.” This empathy and transparency are key to maintaining investor confidence.
Pathway to Operational Profitability
AITX is not just focused on compliance but also on operational profitability. The company believes that it can achieve profitability for its subsidiary, RAD Inc., if necessary measures are taken to halt some innovations temporarily. Despite this, they are currently on track for operational profitability by the end of this fiscal year. This balanced approach signifies AITX's ambition for sustainable growth while exploring new innovations.
Increase in Authorized Shares
To facilitate its growth strategies, AITX is proposing an increase in its authorized share count from 12.5 billion to 15 billion common stock shares. This strategic increment aims to support funding for research and development as well as business operations. The gradual implementation of this increase should free up financial resources to continue on the path of innovation and market expansion.
Innovative Solutions in Security
Artificial Intelligence Technology Solutions is leading the way in revolutionizing the security landscape. AITX is working on numerous groundbreaking projects, from advanced residential security solutions to autonomous mobile robots. Products such as RADCam and ROAMEO are poised to enhance security effectiveness while also lowering costs for clients. This innovative focus is set to attract increased market share and enhance shareholder value significantly as AITX continues to showcase revenue growth.
Future Duration of Investment
The company’s ambition is not just to innovate within the security sector but to forge ahead with a heavy investment in cutting-edge technologies. CEO Reinharz highlighted the importance of ongoing investments: “To redefine the security and robotics industries, we need to maintain our momentum. Our developmental pipeline is filled with transformative projects like ROAMEO and RADCam, which will be game-changers.”
About AITX
Artificial Intelligence Technology Solutions (AITX) is at the forefront of delivering AI-driven solutions that empower organizations to address complex operational challenges. With innovative product offerings from its RAD companies, AITX enhances operational efficiency and situational awareness for clients across various industries, including government, healthcare, and education. The company aims for strategic partnerships as they continue to redefine cost-effective security measures for enterprises worldwide.
Frequently Asked Questions
What is AITX's commitment regarding reverse stock splits?
AITX is committed to not executing a reverse stock split before January 1, 2026, with specific exceptions for uplisting and share reversals.
Who is the CEO of AITX?
Steve Reinharz is the CEO of Artificial Intelligence Technology Solutions, Inc.
How is AITX planning to maintain growth?
AITX plans to maintain growth through an increase in authorized shares and by investing in innovative security solutions and technologies.
What are some of AITX's innovative products?
AITX offers various innovative products, including RADCam, ROAMEO, and autonomous mobile robots designed to enhance security.
How does AITX enhance operational efficiency?
AITX enhances operational efficiency through AI-driven solutions that streamline processes and provide enhanced situational awareness for clients.
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