On March 16, 2026, Artificial Intelligence Technology Solutions Inc. (AITX) announced that its Board of Directors has decided not to proceed with a previously proposed increase in the company's authorized share count. This decision follows the completion of a 100-for-1 reverse stock split that was processed by FINRA on March 12, 2026. The company had initially filed a Definitive Information Statement with the U.S. Securities and Exchange Commission on March 2, 2026, proposing to increase its authorized shares from 27.5 billion to 31.3 billion. However, the board's unanimous decision to cancel this increase reflects a strategic move to responsibly manage the company's capital structure. CEO Steve Reinharz stated, "With the reverse split now completed, we determined that the proposed authorized share increase was no longer necessary. Canceling the increase reflects our ongoing efforts to responsibly manage the Company's capital structure while we remain focused on executing our operational plan." AITX also indicated that management and the Board will evaluate a potential reduction in the authorized share count to better align with long-term objectives. The company continues to focus on expanding its AI-driven security and automation solutions while aiming for positive operational cash flow. Investors are encouraged to review the corporate profile available on AITX's website.

Press Release distribution

National Press Distribution across U.S. Media. Direct Access to Key Decision Making Editors.