Artificial Intelligence Technology Solutions Inc.

Artificial Intelligence Technology Solutions Inc. is a vertically integrated developer and operator of artificial intelligence-driven security and operational automation solutions. The company was incorporated in Florida on March 25, 2010, as On the Move Systems Corp., and reincorporated in Nevada on February 17, 2015. On August 24, 2018, it changed its name to Artificial Intelligence Technology Solutions Inc. In 2017, the company acquired Robotic Assistance Devices, Inc. (RAD), a Nevada corporation. Prior to this acquisition, the company operated an early-stage transportation services business, which was disposed of. The acquisition was treated as a reverse recapitalization, with RAD as the accounting acquirer, and no goodwill or other intangible assets were recorded. The historical operations in the consolidated financial statements are those of RAD. Since the acquisition, the company has focused on developing, deploying, and commercializing artificial intelligence and robotic solutions for security, monitoring, and operational applications. Steven Reinharz was appointed Chief Executive Officer on March 2, 2021. The company conducts substantially all operations through five wholly owned subsidiaries: Robotic Assistance Devices, Inc. (RAD-I), Robotic Assistance Devices Group, Inc. (RAD-G), Robotic Assistance Devices Mobile, Inc. (RAD-M), Robotic Assistance Devices Residential, Inc. (RAD-R), and Robotic Assistance Devices Lanka (PVT) Ltd. (RAD Lanka). RAD Lanka is a Sri Lanka entity with Port City Colombo status and operates as a wholly owned subsidiary of RAD-G. The company anticipates establishing Robotic Assistance Devices Europe (RAD Europe) during fiscal 2027 to support European Union business activity and serve as a cost center for General Data Protection Regulation (GDPR)-compliant services.