Other Events ·
CEO Steve Reinharz defers full salary and commits to no pay through Feb. 2027 as AITX targets Jan. 2027 breakeven
AITXArtificial Intelligence Technology Solutions Inc.
Artificial Intelligence Technology Solutions Inc. announced its CEO, Steve Reinharz, has deferred 100% of his $420,000 annual base salary and committed to receiving no salary or bonus payments through February 28, 2027. This action is the first step in a balance sheet stability program aimed at reducing monthly operating cash expenses by approximately $35,000 per month. The company targets reaching its first breakeven milestone—monthly operating cash breakeven—in January 2027. Additionally, AITX plans to reduce cash spend by roughly $345,000 per month by that date through workforce reductions and cost cuts. The company reported fiscal second-quarter revenue of $1,985,604. Artificial Intelligence Technology Solutions Inc. develops and provides AI-driven security and productivity solutions for enterprise clients.