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)

8/31/2023
Q2
5/31/2023
Q1
2/28/2023
Q4
11/30/2022
Q3
8/31/2022
Q2
5/31/2022
Q1
2/28/2022
Q4
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments2879407133639224,648
Cash and cash equivalents2879407133639224,648
Receivables392265464443365429
Inventory, net of allowances, customer advances and progress billings1,4891,6381,5731,6411,6091,531
Inventory1,4891,6381,5731,6411,6091,531
Prepaid expense522596673569320442
Other undisclosed current assets    281  
Total current assets:2,6903,4393,4243,2973,2167,050
Noncurrent Assets
Operating lease, right-of-use asset1,1801,2081,2411,2691,2971,332
Property, plant and equipment303316312319209138
Other undisclosed noncurrent assets1,6551,3341,142998862759
Total noncurrent assets:3,1382,8582,6962,5862,3682,229
TOTAL ASSETS:5,8286,2976,1195,8825,5849,279
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:1,3361,3431,1661,4161,070969
Accrued liabilities4,7412,79051   
Other undisclosed accounts payable and accrued liabilities(3,405)(1,446)1,1151,4161,070969
Deferred revenue361022 10
Debt16,2239,9202,48231251,010
Derivative instruments and hedges, liabilities     88
Due to related parties12712411490
Other undisclosed current liabilities6,9144,7766931,6131,4012,461
Total current liabilities:24,50916,0504,4703,4662,5984,548
Noncurrent Liabilities
Long-term debt and lease obligation9,88415,55423,72924,58821,09821,367
Long-term debt, excluding current maturities9,88415,55423,72923,58420,06720,309
Liabilities, other than long-term debt9269511,115   
Operating lease, liability9269511,1151,0051,0311,058
Other undisclosed noncurrent liabilities4,5875,5867,3005,5454,8593,283
Total noncurrent liabilities:15,39822,09032,14431,13826,98924,650
Total liabilities:39,90738,14036,61534,60429,58630,255
Equity
Equity, attributable to parent, including:(34,079)(31,843)(30,496)(28,722)(24,003)(20,976)
Common stock615853514947
Additional paid in capital82,56480,24776,42174,11174,65973,016
Accumulated deficit(116,809)(112,254)(107,074)(102,989)(98,816)(94,144)
Other undisclosed equity, attributable to parent105105105105105105
Total equity:(34,079)(31,843)(30,496)(28,722)(24,003)(20,976)
TOTAL LIABILITIES AND EQUITY:5,8286,2976,1195,8825,5849,279

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

8/31/2023
Q2
5/31/2023
Q1
2/28/2023
Q4
11/30/2022
Q3
8/31/2022
Q2
5/31/2022
Q1
2/28/2022
Q4
Revenues385256402267385371
Cost of revenue(92)(382)(126)(34)(294)(177)
Gross profit:294(126)27623391195
Operating expenses(3,243)(2,242)(3,091)(3,412)(3,588)(3,243)
Operating loss:(2,949)(2,367)(2,815)(3,178)(3,497)(3,048)
Nonoperating income (expense)(1,606)32,090(1,271)(994)(1,175)(11,317)
Interest and debt expense(1,606)(614)(1,271)(1,002)(1,175)(11,317)
Income (loss) from continuing operations:(6,161)29,108(5,357)(5,175)(5,847)(25,683)
Loss before gain (loss) on sale of properties:(5,175)(5,847)(25,683)
Net income (loss):(6,161)29,108(5,357)(5,175)(5,847)(25,683)
Other undisclosed net income attributable to parent1,6066141,2711,0021,17511,317
Net income (loss) available to common stockholders, basic:(4,555)29,722(4,086)(4,173)(4,672)(14,366)
Interest on convertible debt  (16)2290(38)
Other undisclosed net income (loss) available to common stockholders, diluted  (376)78(8) (745)
Net income (loss) available to common stockholders, diluted:(4,555)29,330(3,985)(4,172)(4,671)(15,149)

Comprehensive Income ($ in thousands)

8/31/2023
Q2
5/31/2023
Q1
2/28/2023
Q4
11/30/2022
Q3
8/31/2022
Q2
5/31/2022
Q1
2/28/2022
Q4
Net income (loss):(6,161)29,108(5,357)(5,175)(5,847)(25,683)
Comprehensive income (loss), net of tax, attributable to parent:(6,161)29,108(5,357)(5,175)(5,847)(25,683)

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.

Login to ReadyRatios

 

Have you forgotten your password?

Are you a new user?

Login As
You can log in if you are registered at one of these services: