Artificial Intelligence Technology Solutions Inc.

Artificial Intelligence Technology Solutions Inc. develops, deploys, and commercializes artificial intelligence and robotic solutions for security, monitoring, and operational applications. 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 in connection with the acquisition. The historical operations reflected in the company's consolidated financial statements are those of RAD. Steven Reinharz, the company's current Chief Executive Officer and Chief Technology Officer, founded RAD and was appointed CEO on March 2, 2021. As of the date of this Annual Report on Form 10-K, Artificial Intelligence Technology Solutions Inc. conducts substantially all of its 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 an additional subsidiary, Robotic Assistance Devices Europe (RAD Europe), during fiscal 2027 to support growing business activity in the European Union and to serve as its cost center for General Data Protection Regulation (GDPR)-compliant services. Artificial Intelligence Technology Solutions Inc. is a vertically integrated developer and operator of artificial intelligence-driven security and operational automation solutions.