Artificial Intelligence Technology Solutions Inc. (AITX) financial statements (2022 and earlier)

Company profile

Business Address 10800 GALAXIE AVENUE
FERNDALE, MI 48220
State of Incorp. NV
Fiscal Year End February 28
SIC 3714 - Motor Vehicle Parts and Accessories (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

11/30/2021
TTM
2/28/2021
2/29/2020
2/28/2019
2/28/2018
2/28/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments4,1041,0441321253
Cash and cash equivalents4,1041,0441321253
Receivables28199504068 
Inventory, net of allowances, customer advances and progress billings1,3366425273316 
Inventory1,3366425273316 
Prepaid expense393  1983 
Other undisclosed current assets1,006  13  
Total current assets:7,1201,207883674923
Noncurrent Assets
Operating lease, right-of-use asset1,33148 
Property, plant and equipment67351637158 
Intangible assets, net (including goodwill)    56 
Intangible assets, net (excluding goodwill)    56 
Other undisclosed noncurrent assets75727823918730 
Total noncurrent assets:2,155360255224245 
TOTAL ASSETS:9,2751,5673445917373
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:1,7611,3741,1451,48648798
Taxes payable8752392,7791,391695456
Interest and dividends payable  2,7791,391695497
Other undisclosed accounts payable and accrued liabilities8851,135(4,413)(1,295)(902)(855)
Deferred revenue10111010
Debt3,6001,1427,3115,8192,12052
Derivative instruments and hedges, liabilities74446,8916,17031,11412,939
Due to related parties5488465678331685
Business combination, contingent consideration, liability    25 
Other undisclosed current liabilities1,9875563,6641,4757222,006
Total current liabilities:7,4184,41119,67715,74434,78415,180
Noncurrent Liabilities
Long-term debt and lease obligation13,9338,872704039542
Long-term debt, excluding current maturities12,8678,868704039542
Operating lease, liability1,0664 
Other undisclosed noncurrent liabilities2,9572,8251,70327612041
Total noncurrent liabilities:17,95611,7001,77367921583
Total liabilities:25,37416,11121,45016,42335,00015,263
Stockholders' equity
Stockholders' equity attributable to parent, including:(16,099)(14,544)(21,106)(15,832)(34,263)(15,259)
Common stock44320212518
Additional paid in capital63,53016,7654,3353,3941,108(41,477)
Retained earnings (accumulated deficit)(79,779)(31,522)(25,623)(19,409)(35,504)26,198
Other undisclosed stockholders' equity attributable to parent10518118218282
Total stockholders' equity:(16,099)(14,544)(21,106)(15,832)(34,263)(15,259)
TOTAL LIABILITIES AND EQUITY:9,2751,5673445917373

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

11/30/2021
TTM
2/28/2021
2/29/2020
2/28/2019
2/28/2018
2/28/2017
Revenues1,17836126111510634,966
Financial services revenue 34,966
Cost of revenue(324)(98)(84)(5)(45) 
Gross profit:8532631771106134,966
Operating expenses(12,265)(3,258)(1,960)(3,525)(3,578)(296)
Other undisclosed operating loss     (34,966)
Operating loss:(11,412)(2,995)(1,783)(3,414)(3,517)(296)
Nonoperating income (expense)(38,684)(2,904)(4,431)19,509(20,732)34,142
Investment income, nonoperating     34,966
Interest and debt expense(5,407)(3,380)(3,465)(6,747)(12,412)(811)
Net income (loss):(55,503)(9,279)(9,679)9,348(36,661)33,035
Other undisclosed net income attributable to parent5,4073,3803,4656,74712,412811
Net income (loss) available to common stockholders, basic:(50,096)(5,899)(6,214)16,095(24,249)33,846
Interest on convertible debt2461,6481,300749  
Other undisclosed net income (loss) available to common stockholders, diluted2771761,127(26,039)  
Net income (loss) available to common stockholders, diluted:(49,573)(4,075)(3,787)(9,196)(24,249)33,846

Comprehensive Income ($ in thousands)

11/30/2021
TTM
2/28/2021
2/29/2020
2/28/2019
2/28/2018
2/28/2017
Net income (loss):(55,503)(9,279)(9,679)9,348(36,661)33,035
Comprehensive income (loss), net of tax, attributable to parent:(55,503)(9,279)(9,679)9,348(36,661)33,035

Statements sources

The financial statements are based on the company's filings with the 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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