Artificial Intelligence Technology Solutions Inc. (AITX) Financial Statements (2024 and earlier)

Company Profile

Business Address 10800 GALAXIE AVENUE
FERNDALE, MI 48220
State of Incorp. NV
Fiscal Year End February 28
Industry (SIC) 7372 - Prepackaged Software (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

11/30/2023
MRQ
2/28/2023
2/28/2022
2/28/2021
2/29/2020
2/28/2019
2/28/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments9404,6481,044132125
Cash and cash equivalents9404,6481,044132125
Receivables26542999504068
Inventory, net of allowances, customer advances and progress billings1,6381,5316425273316
Inventory1,6381,5316425273316
Prepaid expense596442  1983
Other undisclosed current assets     13 
Total current assets:3,4397,0501,20788367492
Noncurrent Assets
Operating lease, right-of-use asset1,2081,33248 
Property, plant and equipment316138351637158
Intangible assets, net (including goodwill)      56
Intangible assets, net (excluding goodwill)      56
Other undisclosed noncurrent assets1,33475927823918730
Total noncurrent assets:2,8582,229360255224245
TOTAL ASSETS:6,2979,2791,567344591737
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:1,3439691,3741,1451,486487
Interest and dividends payable  2,7791,391695
Taxes payable 2392,7791,391695
Accrued liabilities2,790     
Other undisclosed accounts payable and accrued liabilities(1,446)9691,135(4,413)(1,295)(902)
Deferred revenue1010111010
Debt9,9201,0101,1427,3115,8192,120
Derivative instruments and hedges, liabilities  84446,8916,17031,114
Business combination, contingent consideration, liability      25
Other liabilities      
Due to related parties 90884656783316
Other undisclosed current liabilities4,7762,4615563,6641,475722
Total current liabilities:16,0504,5484,41119,67715,74434,784
Noncurrent Liabilities
Long-term debt and lease obligation15,55421,3678,8727040395
Long-term debt, excluding current maturities15,55420,3098,8687040395
Liabilities, other than long-term debt951     
Operating lease, liability9511,0584 
Other undisclosed noncurrent liabilities5,5863,2832,8251,703276120
Total noncurrent liabilities:22,09025,70811,7001,773679215
Total liabilities:38,14030,25516,11121,45016,42335,000
Equity
Equity, attributable to parent, including:(31,843)(20,976)(14,544)(21,106)(15,832)(34,263)
Common stock58473202125
Additional paid in capital80,24773,01616,7654,3353,3941,108
Accumulated deficit(112,254)(94,144)(31,522)(25,623)(19,409)(35,504)
Other undisclosed equity, attributable to parent1051051811821828
Total equity:(31,843)(20,976)(14,544)(21,106)(15,832)(34,263)
TOTAL LIABILITIES AND EQUITY:6,2979,2791,567344591737

Income Statement (P&L) ($ in thousands)

11/30/2023
TTM
2/28/2023
2/28/2022
2/28/2021
2/29/2020
2/28/2019
2/28/2018
Revenues1,3321,447361261115106
Cost of revenue(678)(473)(98)(84)(5)(45)
Gross profit:65497426317711061
Operating expenses(13,345)(14,346)(3,258)(1,960)(3,525)(3,578)
Operating loss:(12,691)(13,372)(2,995)(1,783)(3,414)(3,517)
Nonoperating income (expense)(5,419)(48,826)(2,904)(4,431)19,509(20,732)
Interest and debt expense(5,426)(16,129)(3,380)(3,465)(6,747)(12,412)
Income (loss) from continuing operations:(23,536)(78,327)(9,279)(9,679)9,348(36,661)
Income (loss) before gain (loss) on sale of properties:(78,327)(9,279)(9,679)9,348(36,661)
Net income (loss):(23,536)(78,327)(9,279)(9,679)9,348(36,661)
Other undisclosed net income attributable to parent5,42616,1293,3803,4656,74712,412
Net income (loss) available to common stockholders, basic:(18,109)(62,197)(5,899)(6,214)16,095(24,249)
Interest on convertible debt47251,6481,300749 
Other undisclosed net income (loss) available to common stockholders, diluted(4)(372)1761,127(26,039) 
Net income (loss) available to common stockholders, diluted:(18,066)(62,545)(4,075)(3,787)(9,196)(24,249)

Comprehensive Income ($ in thousands)

11/30/2023
TTM
2/28/2023
2/28/2022
2/28/2021
2/29/2020
2/28/2019
2/28/2018
Net income (loss):(23,536)(78,327)(9,279)(9,679)9,348(36,661)
Comprehensive income (loss), net of tax, attributable to parent:(23,536)(78,327)(9,279)(9,679)9,348(36,661)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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