Artificial Intelligence Technology Solutions Inc (AITX)

[light1soldier]

those thinking aitx is making money think again....

1. DEFERRED VARIABLE PAYMENT OBLIGATION



On February 1, 2019 the Company entered into an agreement with an investor whereby the investor would pay up to $900,000 (including $192,500 paid in January and February 2019) in exchange for a perpetual 9% rate on the Company’s reported quarterly revenue from operations excluding any gains or losses from financial instruments (Revenues). These variable payments (Payments) are to be made 30 days after the fiscal quarter. If the Payments would deplete RAD’s available cash by more than 30%, the Payments may be deferred for up to 12 months after the quarterly report at an interest rate of 6% per annum on the unpaid amount. The investor has agreed to pay the remaining $707,500 over the remaining nine-month period in minimum $60,000 monthly installments, commencing March 1, 2019 and Concluding November 30, 2019. The investor has advanced an additional $147,000 pursuant to this agreement between March 1 through to May 31, 2019. If the total investor advances turns out to be less than $900,000, this would not constitute a breach of the agreement, rather the 9% rate would be adjusted on a pro-rata basis.





convertible debt, derivative liabilities, leases and salaries and new debt being added to the mix...

some should really read the financials and understand the train wreck..

R/S imminent and will be soon and will be implemented before expiry in my opinion...

Aitx is still delinquent on financials....

aitx way not to go.....ever