AITX Cancels Previously Proposed Authorized Share Increase Following Reverse Stock Split

Artificial Intelligence Technology Solutions, Inc. (AITX) announced that its Board of Directors has decided not to proceed with the previously proposed increase in authorized shares. This decision follows the completion of the company's 100-for-1 reverse stock split on March 12, 2026. The proposed increase would have raised the authorized common shares from 27.5 billion to 31.3 billion. As a result, the company's authorized capitalization remains at 27.5 billion shares of common stock and 20 million shares of preferred stock. CEO Steve Reinharz stated that the increase is no longer necessary after the reverse split and that the company is focused on managing its capital structure responsibly and executing its operational plan. AITX will evaluate a potential reduction in authorized shares to better align with long-term objectives. The company continues to focus on expanding its AI-driven security and automation solutions and aims to achieve positive operational cash flow.