# EDGAR Filing Document

**Accession Number:** 0001498148
**File Stem:** 0001493152-23-008256
**Filing Date:** 2023-3
**Character Count:** 10100
**Document Hash:** fe5732b3d86b2ef21aa50c202d0394c7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-23-008256.hdr.sgml**: 20230320

**ACCESSION NUMBER**: 0001493152-23-008256

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20230320

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230320

**DATE AS OF CHANGE**: 20230320

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Artificial Intelligence Technology Solutions Inc.
- **CENTRAL INDEX KEY:** 0001498148
- **STANDARD INDUSTRIAL CLASSIFICATION:** MOTOR VEHICLE PARTS & ACCESSORIES [3714]
- **IRS NUMBER:** 272343603
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 0228

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-55079
- **FILM NUMBER:** 23746788

**BUSINESS ADDRESS:**
- **STREET 1:** 10800 GALAXIE AVENUE
- **CITY:** FERNDALE
- **STATE:** MI
- **ZIP:** 48220
- **BUSINESS PHONE:** (877) 787-6268

**MAIL ADDRESS:**
- **STREET 1:** 10800 GALAXIE AVENUE
- **CITY:** FERNDALE
- **STATE:** MI
- **ZIP:** 48220

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ON THE MOVE SYSTEMS CORP.
- **DATE OF NAME CHANGE:** 20100803

?xml version="1.0" encoding="utf-8"?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported): March 20, 2023

**ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC.**

(Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| **Nevada** | **000-55079** | **27-2343603** |
| (State or other jurisdiction<br> of incorporation) | (Commission<br> File Number) | (IRS Employer<br> Identification No.) |

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| |
|:---|
| **10800 Galaxie Avenue**<br> **Ferndale, MI 48220** |
| (Address of principal executive offices) |

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| |
|:---|
| **(877) 787-6268** |
| (Registrant's telephone number, including area code) |

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| |
|:---|
| **Not Applicable** |
| (Former name or former address, if changed since last report.) |

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| N/A | N/A | N/A |

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When used in this Current Report on Form 8-K, unless otherwise indicated, the terms the "Company," "our," or "we" refer to Artificial Intelligence Technology Solutions Inc. and its subsidiaries.

**Item 8.01 Other Events**

On March 20, 2023, we will be issuing a Shareholder Letter to our shareholders, which Shareholder Letter is attached hereto as Exhibit 99.1.

The information in this Current Report on Form 8-K with respect to Item 8.01 (including the Shareholder Letter attached hereto as Exhibit 99.1) is being furnished pursuant to Item 8.01 of Form 8-K and shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended ("Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act. This current report on Form 8-K (including the Shareholder Letter attached hereto as Exhibit 99.1) will not be deemed an admission as to the materiality of any information contained herein.

**ITEM 9.01. EXHIBITS**

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| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 99.1 | [March 20, 2023 Shareholder Letter](ex99-1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
| Date: March 20, 2023 | **ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC.** | **ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC.** |
|  |  | */s/ Steven Reinharz* |
|  | Name: | Steven Reinharz |
|  | Title: | Chief Executive Officer |

---

## Exhibit 99.1

**Exhibit 99.1**

![](ex99-1_001.jpg)

March 20, 2023

Dear Valued Shareholders,

Today, we initiated the process to increase the Company's authorized shares from 6 billion to 7.25 billion. This amount of shares may be sufficient to fund operations and growth until the Company reaches positive cash flow. The Company will continue to fund operations using equity and debt instruments as well as diluting the CEO's equity percentage.

It is essential to note that this increase in authorized shares does not automatically result in the issuance of new shares. Any decision to issue new shares will be made based on a careful evaluation of the Company's strategic objectives and the best interests of our shareholders.

We view an authorized share increase similarly to how VC-funded tech start-ups pursue Series A, B, and C funding rounds. In each case, investors can increase or decrease their investment and equity, depending on the specifics of their agreements. This scenario shares similarities with OTC companies raising their authorized shares.

The Company's largest single cost line item is team related costs. We have forecasted and budgeted to support 93 team members. Team member costs presently run between 50% and 70% of all total monthly expenditures, which are in line with other tech startups.

The Company has prepared forecasts that outline a range of capital investment strategies that can result in positive cash flow by December 31, 2024, no assurances of which can be made. This range fluctuates based on variables we can influence and those beyond our control.

Management believes it can significantly influence these variables that include but are not limited to:

&nbsp;&nbsp;&nbsp;&nbsp;1. Solutions, design, and direction: These decisions impact costs and
are made over several years. For example, the development and evolution of ROSA from ROSA '1' to '180' to '3.0'
to '3.1' and soon, to '4.0'. Each iteration was deemed critical by management to maintain technological leads
and provide value to end-users. This approach extends to all RAD products, requiring capital to perform and being considered vital.

2. Effort
 and productivity levels: Management strives to ensure maximum productivity from all team
 members by fostering a work culture that encourages strong relationships between team members
 and departments while maintaining a focus on the mission.

3. Mission
 focus: Decisions that lead to a complete 'RADTown' where clients can have a single
 source for all their physical security needs, including hardware solutions like ROSA™,
 AVA™, RIO™, ROAMEO™, and RADDOG™, as well as software solutions such
 as RADSOC™ and RAD Light My Way™.

4. Communication
 with investors and timely SEC filings: By managing the company properly, we can ensure the
 best chances for compliance. Our recent record demonstrates our competence in this area.

Artificial Intelligence Technology Solutions Inc.

<u>info@aitx.ai</u> ● <u>www.aitx.ai</u> ● 10800 Galaxie Avenue, Ferndale, Michigan 48220

![](ex99-1_001.jpg)

The costs and the milestones that the company needs to achieve to attain the objective of positive cash flow are somewhat influenced by these items, most notably the work required to fulfill the mission's vision of solutions.

Management believes it has some influence on these variables that include but are not limited to:

&nbsp;&nbsp;&nbsp;&nbsp;1. Sales
 process and order receipt timing: Client organizations often move at different speeds, and
 our skilled sales team has developed a process for navigating this. Shortening the sales
 cycle helps us achieve improved financial results and achieve positive cash flow more quickly.

&nbsp;&nbsp;&nbsp;&nbsp;2. Clients'
 willingness to publicize their deployments: Many clients prefer not to discuss security processes
 and procedures, impacting our ability to share progress with the investment community. We
 work diligently to seek permission and expect more clients to go public this fiscal year.

Management believes the following variables are beyond its influence, including but not limited to:

&nbsp;&nbsp;&nbsp;&nbsp;1. General
 economic conditions: Investor confidence in the economy affects trading activity, which can
 adversely impact the Company.

&nbsp;&nbsp;&nbsp;&nbsp;2. Management
 plans to work within its forecasts, adjusting as necessary, with the goal of achieving positive
 cash flow from a position of strength supported by a robust ecosystem of solutions.

Management reminds the investor base that shareholders' positive encouragement and general sharing of company accomplishments is highly revered by Company team members and community. We encourage positive communication and sharing and are grateful for your support.

The aforementioned actions are necessary for the Company's continued growth, product development and market penetration with the ultimate objective of becoming the dominant supplier of #proptech solutions in alignment with our stated predictions regarding the 4th Industrial Revolution.

Sincerely,

Steve Reinharz

Founder & CEO

Artificial Intelligence Technology Solutions, Inc.

<u>Steve.Reinharz@AITX.AI</u>

949-636-7060

Artificial Intelligence Technology Solutions Inc.

<u>info@aitx.ai</u> ● <u>www.aitx.ai</u> ● 10800 Galaxie Avenue, Ferndale, Michigan 48220