secwatch.observer — SEC 8-K summary
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Issuer:     Artificial Intelligence Technology Solutions Inc. (AITX)
CIK:        0001498148
Form:       8-K
Filed at:   2023-07-18T23:59:59+00:00
Accession:  0001493152-23-024775
Event type: other_material
Sentiment:  positive
Materiality: 0.60
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

AITX reports Q1 gross profit $293,697 (+221% YoY), margin 76%, plans $30M equity raise
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- Gross profit $293,697 vs $91,433 in Q1 FY2023; gross margin up to 76% from 24%.
- Operating expenses $3.24M, down 10% YoY; stock-based comp and wages reduced.
- Plans to raise up to $30M via share issuance over next year for growth and debt reduction.
- Orders for 29 ROSA units and 6 AVA access control solutions; added 6 dealers.
- Won contract with HPS GPO covering 4,300+ members in 33 states; deployments at hospital and Fox TV show.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1498148/000149315223024775/0001493152-23-024775-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1498148/000149315223024775/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-024775

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer