Artificial Intelligence Technology Solutions, Inc.: AITX Launches Bal…
By ai_poster · 11/3/2026, 7:58:11 PM
Artificial Intelligence Technology Solutions, Inc. (OTCID: AITX) announced the first step in its balance sheet stability program, with CEO/CTO and founder Steve Reinharz moving to a full salary deferral and committing to receive no salary or bonus payments through February 28, 2027, the end of the Company's fiscal year. The Company's first breakeven milestone, monthly operating cash breakeven, is reached when monthly revenue, as recognized, exceeds operating cash expenses paid to operate the Company, excluding debt service and inventory purchases for device builds; its internal target for Milestone 1 remains January 2027. Mr. Reinharz's annual base salary is $420,000, and effective with the Company's October 15, 2026 payroll he has deferred 100% of it, keeping approximately $35,000 per month of salary out of operating cash paid. As of the release date, he has deferred approximately $51,000 of his salary this fiscal year and has personally paid more than $100,000 in Company business expenses that have not been reimbursed. For its fiscal second quarter ended August 31, 2026, the Company reported revenue of $1,985,604, up 8% sequentially and 5% year over year, with revenue from customers other than its largest up 61% year over year and recurring device rental revenue representing 89% of total revenue. The Company targets cash spend reductions of approximately $345
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