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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): November
6, 2023
ARTIFICIAL
INTELLIGENCE TECHNOLOGY SOLUTIONS INC. |
(Exact
name of registrant as specified in its charter) |
Nevada |
|
000-55079 |
|
27-2343603 |
(State
or other jurisdiction
of
incorporation) |
|
(Commission
File
Number) |
|
(IRS
Employer
Identification
No.) |
10800
Galaxie Avenue
Ferndale,
MI 48220 |
(Address
of principal executive offices) |
(877)
787-6268 |
(Registrant’s
telephone number, including area code) |
Not
Applicable |
(Former
name or former address, if changed since last report.) |
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:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
N/A |
|
N/A |
|
N/A |
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
November 6, 2023, we will be issuing a press release titled “AITX Investor Conference & RAD Technology Reveal a Success”,
which press release 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 press release 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 Exhibit 99.1) will not be deemed an admission as to the materiality of any information contained
herein.
ITEM
9.01. EXHIBITS
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:
November 6, 2023 |
ARTIFICIAL
INTELLIGENCE TECHNOLOGY SOLUTIONS INC. |
|
|
|
|
|
/s/
Steven Reinharz |
|
Name: |
Steven
Reinharz |
|
Title: |
Chief
Executive Officer |
Exhibit
99.1
AITX
Investor Conference & RAD Technology Reveal a Success
Detroit,
Michigan, November 6, 2023 — Artificial Intelligence Technology Solutions, Inc., (the “Company”) (OTCPK:AITX),
a pioneer in AI-driven security and productivity solutions along with its wholly owned subsidiary Robotic Assistance Devices, Inc. (RAD),
is thrilled to announce the successful conclusion of its Investor Conference & RAD Technology Reveal held on November 3, 2023. The
event stands as the single most comprehensive presentation and video detailing the Company’s rich history, present endeavors,
and exciting future prospects.
Leading
the charge at the conference were the Company’s stalwarts, including Steve Reinharz, Founder & CEO; Ioan Pop, VP of Engineering;
Mark Folmer, President of RAD; Anthony Brenz, Chief Financial Officer, and Troy McCanna, VP of Business Development & Chief Security
Officer.
The
conference took place at the Motor City Casino Hotel (“MCCH”) in Detroit, Michigan. Surprises included a reveal that the
MCCH was a pilot client of RAD’s for a long time, recently announced the conclusion of the pilot and placed an additional order
of multiple ROSAs. Furthermore, MCCH’s Chief Information Officer spoke about his experiences with RAD, its solutions and
shared a positive outlook for continued expansion.
Mark
Folmer and Troy McCanna provided an insightful deep dive into RAD’s sales funnel, revealing key deployed and contracted revenue
figures. Anthony Brenz articulated a strategic and conservative approach to profitability, emphasizing the impressive cost-cutting measures
that have enabled the company to reduce expenditures by approximately 25%.
Steve
Reinharz shared insights on the dedication and commitment of the team, highlighting the voluntary partial pay deferments undertaken by
many team members, including all presenters, to expedite the Company’s journey to positive cash flow.
Ioan
Pop’s segment was particularly noteworthy as he gave an in-depth look at ROSA 4.0, with a prototype of this next-gen security solution
displayed for attendees. Additionally, the RADPack Milli Gen 2 was showcased, and the initial steps of collaboration with emergency phone
(blue light phone tower) manufacturers were discussed, spotlighting the potential integration of RAD’s robust software suite, including
the RAD Light My Way solution.
Adding
depth to the conference, video testimonials from end users and security industry influencers provided invaluable perspectives on the
benefits and potential of RAD’s solutions.
One
of the event’s climactic moments was the formal introduction of RADDOG 3S. Videos explaining its advanced and unique functionalities
left the audience in awe.
Feedback
from in-person attendees was overwhelmingly positive, underscoring the event’s success in conveying the Company’s vision
and achievements.
“It’s
been a truly enriching experience,” Steve Reinharz reflected. “For anyone keen to understand AITX, our aspirations, our journey,
and the passionate team propelling us forward, this video serves as a definitive guide.”
The
entire AITX Investor Conference & RAD Technology Reveal can be viewed on AITX’s YouTube channel at https://youtube.com/live/DAcLS3ngQrw
AITX,
through its subsidiary, Robotic Assistance Devices, Inc. (RAD), is redefining the $25 billion (US) security and guarding services industry
through its broad lineup of innovative, AI-driven Solutions-as-a-Service business model. RAD solutions are specifically designed to provide
cost savings to businesses of between 35%-80% when compared to the industry’s existing and costly manned security guarding and
monitoring model. RAD delivers these tremendous cost savings via a suite of stationary and mobile robotic solutions that complement,
and at times, directly replace the need for human personnel in environments better suited for machines. All RAD technologies, AI-based
analytics and software platforms are developed in-house.
RAD
has a prospective sales pipeline of over 35 Fortune 500 companies and numerous other client opportunities. RAD expects to continue to
attract new business as it converts its existing sales opportunities into deployed clients generating a recurring revenue stream. Each
Fortune 500 client has the potential of making numerous reorders over time.
About
Artificial Intelligence Technology Solutions (AITX)
AITX
is an innovator in the delivery of artificial intelligence-based solutions that empower organizations to gain new insight, solve complex
challenges and fuel new business ideas. Through its next-generation robotic product offerings, AITX’s RAD, RAD-M and RAD-G companies
help organizations streamline operations, increase ROI, and strengthen business. AITX technology improves the simplicity and economics
of patrolling and guard services and allows experienced personnel to focus on more strategic tasks. Customers augment the capabilities
of existing staff and gain higher levels of situational awareness, all at drastically reduced cost. AITX solutions are well suited for
use in multiple industries such as enterprises, government, transportation, critical infrastructure, education, and healthcare. To learn
more, visit www.aitx.ai, www.radsecurity.com, www.stevereinharz.com, www.radgroup.ai, www.raddog.ai, and
www.radlightmyway.com, or follow Steve Reinharz on Twitter @SteveReinharz.
CAUTIONARY
DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS
The
information contained in this publication does not constitute an offer to sell or solicit an offer to buy securities of Artificial Intelligence
Technology Solutions, Inc. (the “Company”). This publication contains forward-looking statements, which are not guarantees
of future performance and may involve subjective judgment and analysis. As such, there are no assurances that the Company will meet its
expectations with respect to its future sales volume or becoming cash flow positive. The information provided herein is believed to be
accurate and reliable, however the Company makes no representations or warranties, expressed or implied, as to its accuracy or completeness.
The Company has no obligation to provide the recipient with additional updated information. No information in this publication should
be interpreted as any indication whatsoever of the Company’s future revenues, results of operations, or stock price.
###
Steve
Reinharz
949-636-7060
@SteveReinharz
v3.23.3
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