Artificial Intelligence Technology Solutions Exten
Post# of 1224
Detroit, Michigan, June 14, 2023 (GLOBE NEWSWIRE) -- Artificial Intelligence Technology Solutions, Inc., (the "Company"
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"I deeply value and appreciate the support and commitment shown by the remarkable AITX investor community," said Steve Reinharz, CEO of AITX. "I want to reiterate my unequivocal stance on not pursuing any reverse stock splits. To provide you with utmost assurance, I am pleased to announce our decision to formalize this commitment by enacting a corporate charter amendment and subsequent filing of the associated Form 8-K. This proactive step reinforces our unwavering dedication to this principle and serves as evidence of our alignment with the investor community's interests and expectations."
On January 6, 2022, the Company issued a formal statement committing to no reverse stock split until January 1, 2024. The 8-K filed today extends this date to January 1, 2025. The Company noted it may confirm further extensions depending on business conditions.
Reverse splits are a strategic maneuver often employed by companies to increase the share price of their stock. This tactic is often used to satisfy minimum price requirements set by stock exchanges, thereby facilitating the company's listing or potential uplisting to prestigious exchanges like NASDAQ or NYSE. Additionally, reverse splits can help attract institutional investors who have restrictions on investing in stocks with low prices, as a higher share price may be perceived as more desirable.
Reinharz continued, "I encourage you to stay informed and engaged with our Company's updates, announcements, and financial reports. We are committed to transparent communication and will promptly share any material developments that may impact our shareholders."
CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS
The information contained in this publication does not constitute an offer to sell or solicit an offer to buy securities of Artificial Intelligence Technology Solutions, Inc. (the "Company"
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About Artificial Intelligence Technology Solutions (AITX)
AITX is an innovator in the delivery of artificial intelligence-based solutions that empower organizations to gain new insight, solve complex challenges and fuel new business ideas. Through its next-generation robotic product offerings, AITX's RAD, RAD-M and RAD-G companies help organizations streamline operations, increase ROI, and strengthen business. AITX technology improves the simplicity and economics of patrolling and guard services and allows experienced personnel to focus on more strategic tasks. Customers augment the capabilities of existing staff and gain higher levels of situational awareness, all at drastically reduced cost. AITX solutions are well suited for use in multiple industries such as enterprises, government, transportation, critical infrastructure, education, and healthcare. To learn more, visit www.aitx.ai, www.radsecurity.com,www.stevereinharz.com, www.radgroup.ai, www.raddog.ai, and www.radlightmyway.com, or follow Steve Reinharz on Twitter @SteveReinharz.
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Steve Reinharz
949-636-7060
@SteveReinharz
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