Financial reports / Artificial Intelligence Technology Solutions Inc. | Tables in SEC filings

AITX Artificial Intelligence Technology Solutions Inc.

Quarterly report

SCHEDULE OF LOANS PAYABLE

						Annual
Date	Maturity	Description		Principal		Interest Rate
July 18, 2016	July 18, 2017	Promissory note	(1)*	$	3,500		22	%
December 10, 2020	March 1, 2025	Promissory note	(2)		3,921,168		12	%
December 10, 2020	March 1, 2025	Promissory note	(3)		2,754,338		12	%
December 10, 2020	December 10, 2024	Promissory note	(4)		165,605		12	%
December 14, 2020	March 1, 2027	Promissory note	(5)		310,375		12	%
December 30, 2020	March 1, 2025	Promissory note	(6)		350,000		12	%
January 1, 2021	March 1, 2025	Promissory note	(7)		25,000		12	%
January 1, 2021	March 1, 2025	Promissory note	(8)		145,000		12	%
January 14, 2021	March 1, 2025	Promissory note	(9)		550,000		12	%
February 22, 2021	March 1, 2025	Promissory note	(10)		1,650,000		12	%
March 1, 2021	March 1, 2025	Promissory note	(11)		6,000,000		12	%
June 8, 2021	June 8, 2025	Promissory note	(12)		2,750,000		12	%
July 12, 2021	July 26, 2026	Promissory note	(13)		3,740,360		7	%
September 14, 2021	September 14, 2025	Promissory note	(14)		1,650,000		12	%
July 28, 2022	March 1, 2025	Promissory note	(15)		170,000		15	%
August 30, 2022	August 30,2025	Promissory note	(16)		3,000,000		15	%
September 7, 2022	March 1, 2025	Promissory note	(17)		400,000		15	%
September 8, 2022	March 1, 2025	Promissory note	(18)		475,000		15	%
October 13, 2022	March 1, 2025	Promissory note	(19)		350,000		15	%
October 28, 2022	October 31, 2026	Promissory note	(20)		400,000		15	%
November 9, 2022	October 31, 2026	Promissory note	(20)		400,000		15	%
November 10, 2022	October 31, 2026	Promissory note	(20)		400,000		15	%
November 15, 2022	October 31, 2026	Promissory note	(20)		400,000		15	%
January 11, 2023	October 31, 2026	Promissory note	(20)		400,000		15	%
February 6, 2023	October 31, 2026	Promissory note	(20)		400,000		15	%
April 5. 2023	October 31, 2026	Promissory note	(20)		400,000		15	%
April 20, 23	October 31, 2026	Promissory note	(20)		400,000		15	%
May 11, 2023	October 31, 2026	Promissory note	(20)		400,000		15	%
October 27, 2023	October 31, 2026	Promissory note	(20)		400,000		15	%
November 30, 2023	April 30, 2025	Purchase Agreement	(21)		203,000		35	%
March 8, 2024	August 8, 2025	Purchase Agreement	(22)		350,000		35	%
August 8, 2024	August 8, 2025	Exchange Agreement	(23)		200,000		12	%
				$	33,163,346

Less: current portion of loans payable					(25,112,611)
Less: discount on non-current loans payable					(374,081)
Non-current loans payable, net of discount				$	7,676,654

Current portion of loans payable				$	25,112,611
Less: discount on current portion of loans payable					(58,620)
Current portion of loans payable, net of discount				$	25,053,991


		Series E				Series F								Additional				Total
		Preferred Stock				Preferred Stock				Common Stock				Paid-In		Accumulated		Stockholders’
		Shares		Amount		Shares		Amount		Shares		Amount		Capital		Deficit		Deficit
Balance at February 28, 2023	-		3,350,000	$	3,350		2,533	$	101,619		5,848,741,599	$	58,489	$	80,247,252	$	(112,253,711)	$	(31,843,001)
Issuance of shares, net of $81,285 issuance costs			—		—		—		—		280,929,190		2,809		1,316,100		—		1,318,909
Relative fair value of Series F warrants issued with loans payable			—		—		—		—		—		—		947,447				947,447
Stock based compensation			—		—		—		—		—		—		52,721		—		52,721
Net income	-		—		—		—		—		—		—		—		(4,555,193)		(4,555,193)
Balance at May 31, 2023	-		3,350,000	$	3,350		2,533	$	101,619		6,129,670,789	$	61,298	$	82,563,520	$	(116,808,904)	$	(34,079,117)
Issuance of shares, net of $176,672 issuance costs			—		—		—		—		903,636,004		9,036		4,787,087		—		4,796,123
Shares as payment for services			—		—		—		—		6,500,000		65		44,395		—		44,460
Stock based compensation			—		—		—		—		—		—		50,713		—		50,713
Net income	-		—		—		—		—		—		—		—		(4,759,728)		(4,759,728)
Balance at August 31, 2023	-		3,350,000	$	3,350		2,533	$	101,619		7,039,806,793	$	70,399	$	87,445,715	$	(121,568,632)	$	(33,947,549)
Issuance of shares, net of $56,320 issuance costs			—		—		—		—		675,336,434		6,753		1,405,405		—		1,412,158
Relative fair value of Series F warrants issued with debt			—		—		—		—		—		—		261,759				261,759
Stock based compensation			—		—		—		—		—		—		47,462		—		47,462
Net income	-		—		—		—		—		—		—		—		(3,966,484)		(3,966,484)
Balance at November 30, 2023	-		3,350,000	$	3,350		2,533	$	101,619		7,715,143,227	$	77,152	$	89,160,341	$	(125,535,116)	$	(36,192,654)

Depreciation and Amortization	Three Months Ended November 30, 2024		Three Months Ended November 30, 2023		Nine Months Ended November 30, 2024		Nine Months Ended November 30, 2023

Cost of Goods Sold	$	287,799	$	113,830	$	729,672	$	322,369
Operating expenses		79,662		51,540		198,935		107,456
Total Depreciation and Amortization	$	367,461	$	165,370	$	928,607	$	429,825

	November 30, 2024		February 29, 2024
Automobile	$	74,237	$	74,237
Demo devices		270,502		194,352
Tooling		107,020		107,020
Machinery and equipment		8,825		8,825
Computer equipment		157,448		150,387
Office equipment		15,312		15,312
Furniture and fixtures		21,225		21,225
Warehouse equipment		36,305		19,639
Leasehold improvements		26,956		26,956
Fixed assets gross		717,830		617,953
Less: Accumulated depreciation		(460,641)		(349,878)
Fixed assets, net of accumulated depreciation	$	257,189	$	268,075

Depreciation and Amortization	Three Months Ended November 30, 2024		Three Months Ended November 30, 2023		Nine Months Ended November 30, 2024		Nine Months Ended November 30, 2023

Fixed assets	$	26,599	$	50,393	$	110,764	$	144,921
Revenue earning devices		79,662		51,540		198,935		107,456
Total Depreciation and Amortization included in operating expenses	$	106,261	$	101,933	$	309,699	$	252,377

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