DEF 14C: Artificial Intelligence Technology Solutions Inc. Increases Authorized Common Stock to 20 Billion Shares

Artificial Intelligence Technology Solutions Inc. announces shareholder approval to increase authorized common stock from 15 billion to 20 billion shares.

Summary

• Artificial Intelligence Technology Solutions Inc. (AITX) is providing notice to shareholders regarding the approval of a Certificate of Amendment to increase the company's authorized common stock.
• The amendment will increase the authorized common stock by 5 billion shares, bringing the total to 20 billion shares.
• This action was approved by shareholders holding a majority of the voting power on February 21, 2025, via written consent.
• The Certificate of Amendment will be filed at least 20 days after the Information Statement is filed with the SEC and delivered to shareholders.
• As of February 21, 2025, there were 14,168,594,118 common stock shares issued and outstanding.
• Steve Reinharz, the CEO, holds Series E Preferred Stock, which grants him approximately 67.86% of the company's voting power.

Sentiment

Score: 6

Explanation: The document is a standard corporate notification, so the sentiment is neutral. The increase in authorized shares could be seen as slightly positive as it provides the company with more financial flexibility.

Positives

• The increase in authorized shares provides the company with flexibility for future financings, acquisitions, and debt conversions.
• Shareholders approved the increase in authorized shares.

Future Outlook

The increase in authorized shares will enable the company to continue regular business operations, engage in potential debt conversions, and support possible future financings and acquisitions.

Industry Context

Companies often increase their authorized share capital to provide flexibility for future corporate actions, such as raising capital, making acquisitions, or issuing stock options.

Stakeholder Impact

• Shareholders are being notified of the increase in authorized shares.
• The increase in authorized shares could potentially dilute existing shareholders if new shares are issued.

Next Steps

• File the Certificate of Amendment with the Secretary of State of Nevada at least 20 days after filing the Information Statement with the SEC and delivering it to shareholders.

Key Dates

Keywords

authorized shares, common stock, AITX, Artificial Intelligence Technology Solutions Inc., shareholder approval, certificate of amendment, voting rights, Steve Reinharz, Series E Preferred Stock