ClarificationJul 17, 2026, 06:06 AM
Artificial Intelligence Technology Solutions Corrects Authorized Share Count
AI Summary
Artificial Intelligence Technology Solutions Inc. filed an amendment to its Annual Report on Form 10-K to correct an administrative error regarding its authorized common stock. The original filing inadvertently stated a decrease in authorized shares from 27.5 billion to 12 billion before the change was officially effective. The decrease became effective on July 15, 2026, and the company confirmed that this error did not impact previously reported financial statements or earnings per share.
Key Highlights
- Corrected authorized common stock from 27,500,000,000 to 12,000,000,000 shares.
- Authorized share decrease became effective on July 15, 2026.
- Original 10-K prematurely reported the authorized share decrease.
- Error did not affect previously reported assets, liabilities, revenues, net loss, or EPS.
- Management reassessed disclosure controls and procedures due to the error.
- Market value of non-affiliate common equity was approximately $15,830,267 as of August 31, 2025.
- 387,232,589 common shares were issued and outstanding as of June 1, 2026.
Price Impact
More from AITX