Artificial Intelligence Technology Solutions Inc. Files S-1

TL;DR

<b>Artificial Intelligence Technology Solutions Inc. has filed an S-1 registration statement.</b>

AI Summary

Artificial Intelligence Technology Solutions Inc. (AITXD) filed a IPO Registration (S-1) with the SEC on January 30, 2024. Filing type: S-1. Company name: Artificial Intelligence Technology Solutions Inc. Former company name: ON THE MOVE SYSTEMS CORP. Date of name change: 2010-08-03. State of incorporation: NV.

Why It Matters

For investors and stakeholders tracking Artificial Intelligence Technology Solutions Inc., this filing contains several important signals. This S-1 filing indicates a significant corporate event, likely an intention to offer securities to the public. The company's history includes a name change from ON THE MOVE SYSTEMS CORP., suggesting a potential shift in business focus or strategy.

Risk Assessment

Risk Level: — Artificial Intelligence Technology Solutions Inc. shows moderate risk based on this filing. The filing is an S-1, which is a preliminary registration statement and does not contain detailed financial performance data or operational updates.

Analyst Insight

Monitor for subsequent filings (e.g., amended S-1s, prospectuses) to understand the specifics of any proposed securities offering and the company's financial health.

Key Numbers

• S-1 — Form Type (Filing type)
• 2024-01-30 — Filing Date (Date of filing)

Key Players & Entities

• Artificial Intelligence Technology Solutions Inc. (company) — Filer name
• ON THE MOVE SYSTEMS CORP. (company) — Former company name
• NV (location) — State of incorporation
• 2010-08-03 (date) — Date of name change

Forward-Looking Statements

• Artificial Intelligence Technology Solutions Inc. will announce a specific public offering of common stock or preferred stock. (Artificial Intelligence Technology Solutions Inc.) — medium confidence, target: 2024-07-30
• The company's capital structure will become more complex due to new security issuances. (Artificial Intelligence Technology Solutions Inc.) — high confidence, target: 2025-01-30

FAQ

Industry Context

The company operates in the pre-packaged software industry, as indicated by its SIC code.

Regulatory Implications

The filing is an S-1, which is a registration statement filed under the Securities Act of 1933, indicating a potential public offering of securities.

What Investors Should Do

1. Review the full S-1 filing for details on the proposed offering.
2. Track future SEC filings for financial performance updates.
3. Research the company's business model and market position in the AI technology sector.

Year-Over-Year Comparison

This is an initial S-1 filing, so there is no prior filing to compare against for financial or operational changes.

Key Financial Figures

• $0.00001 — ,000) shares of common stock, par value $0.00001 per share. We will not receive proceeds
• $8.0 million — ceive aggregate gross proceeds of up to $8.0 million from the sale of our common stock regis
• $0.0030 — of our common stock on the OTC Pink was $0.0030 per share. The Purchase Agreement pro
• $12,500,000 — y may discretionarily sell to GHS up to $12,500,000 of shares ("Purchase Shares") of the Co
• $10,000 — of the Purchase Agreement, a minimum of $10,000 and up to a maximum of $1,500,000. The
• $1,500,000 — nimum of $10,000 and up to a maximum of $1,500,000. The aggregate value of Purchase Shares
• $0.01 — Put Notice is equal to or greater than $0.01 per share the applicable Purchase Price
• $4.50 — ing Period, subject to a floor price of $4.50 per share. The Purchase Agreement pro

Filing Documents

• forms-1.htm (S-1) — 3975KB
• ex5-1.htm (EX-5.1) — 12KB
• ex23-2.htm (EX-23.2) — 5KB
• ex107.htm (EX-FILING FEES) — 26KB
• 0001493152-24-004318.txt (&nbsp;) — 17743KB
• aitx-20231130.xsd (EX-101.SCH) — 100KB
• aitx-20231130_cal.xml (EX-101.CAL) — 81KB
• aitx-20231130_def.xml (EX-101.DEF) — 433KB
• aitx-20231130_lab.xml (EX-101.LAB) — 703KB
• aitx-20231130_pre.xml (EX-101.PRE) — 545KB
• forms-1_htm.xml (XML) — 3700KB

RISK FACTORS

RISK FACTORS 3 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS 11

USE OF PROCEEDS

USE OF PROCEEDS 12 SELLING STOCKHOLDER 12 PLAN OF DISTRIBUTION 13 DESCRIPTION OF BUSINESS 13 MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS 20

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 20 MANAGEMENT 34

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 36

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT 38 LEGAL MATTERS 44 EXPERTS 44 AVAILABLE INFORMATION 44 INDEX TO CONSOLIDATED FINANCIAL STATEMENTS F-1 ii Table of Contents You should rely only on the information contained in this prospectus. We have not authorized anyone to provide you with different information from that contained in this prospectus. The Selling Stockholder is offering to sell and seeking offers to buy shares of our common stock only in jurisdictions where offers and sales are permitted. The information contained in this prospectus is accurate only as of the date of this prospectus, regardless of the time of delivery of this prospectus or of any sale of our common stock. This prospectus does not constitute an offer to sell, or a solicitation of an offer to buy the securities in any circumstances under which the offer or solicitation is unlawful. Neither the delivery of this prospectus nor any distribution of securities in accordance with this prospectus shall, under any circumstances, imply that there has been no change in our affairs since the date of this prospectus. PROSPECTUS SUMMARY This summary highlights information contained elsewhere in this prospectus and does not contain all of the information that you should consider in making your investment decision. Before investing in our common stock, you should carefully read this entire prospectus, including our financial statements and the related notes and the information set forth under the headings "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in each case included elsewhere in this prospectus. Unless the context otherwise requires, references to "we," "our," "us," "Artificial Intelligence" or the "Company" in this prospectus mean Artificial Intelligence Technology Solutions, Inc. and its wholly-owned subsidiaries. Company Overview We apply AI technology to solve enterprise problems that a

View Full Filing

View this S-1 filing on SEC EDGAR