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Red Flags Detected

  • Going Concern (new) — Auditor expressed substantial doubt about the company's ability to continue operations given $171M accumulated deficit and negative working capital.
  • Material Weakness (worsened) — Multiple material weaknesses in internal controls persist unchanged for second consecutive year, including governance deficiencies and accounting methodology errors.
  • Securities Litigation (removed) — Prior-period lender claim over alleged breach of non-binding term sheet removed from disclosure with no resolution status provided.
OTC: AITX Artificial Intelligence Technology Solutions Inc. 10-K

AITX reports 26% revenue growth to $7.7M but auditor flags going-concern doubt amid $171M deficit

Filed June 9, 2026 · Period ending February 28, 2026 · Compared to 10-K May 29, 2025 · ~2 min read

Key Changes

  • high

    Auditor expressed substantial doubt about ability to continue as going concern; accumulated deficit reached $171M, liabilities exceed assets, and working capital deficit worsened from $2.5M to $17M despite revenue growth.

    Risk Factors: Going Concern verify on EDGAR →
  • high

    ROAMEO mobile platform began commercial billing in May 2026 after ~$20M development investment; management expects RAD-M to eventually surpass stationary business (RAD-I) in monthly recurring revenue due to higher subscription pricing.

    Business: ROAMEO Deployment verify on EDGAR →
  • high

    96% of debt owed to entities controlled by single individual; concentrated lender risk creates potential conflicts and limits refinancing options as company requires continued external financing.

    Risk Factors: Related-Party Debt verify on EDGAR →

2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.

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View original filing on SEC.gov View full financials on EDGAR ↗

Source-verified from EDGAR · Narrative written by AI · Jun 10, 2026 · How we verify