Current Report Filing (8-k)
August 24 2021 - 3:41PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): August 24, 2021 (August 23, 2021)
ARTIFICIAL
INTELLIGENCE TECHNOLOGY SOLUTIONS INC.
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(Exact
name of registrant as specified in its charter)
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Nevada
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000-55079
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27-2343603
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(State
or other jurisdiction
of incorporation)
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(Commission
File Number)
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(IRS
Employer
Identification No.)
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10800
Galaxie Avenue
Ferndale,
MI 48220
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(Address
of principal executive offices)
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(877)
787-6268
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(Registrant’s
telephone number, including area code)
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Not
Applicable
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(Former
name or former address, if changed since last report.)
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Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
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☐
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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☐
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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☐
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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☐
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class
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Trading
Symbol(s)
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Name
of each exchange on which registered
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N/A
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N/A
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N/A
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When
used in this Current Report on Form 8-K, unless otherwise indicated, the terms the “Company,” “our,” or “we”
refer to Artificial Intelligence Technology Solutions Inc. and its subsidiaries.
Item
3.03
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Material
Modification to Rights of Security Holders
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The
Company has an outstanding class of preferred stock, Series F Convertible Preferred Stock (“Series F Preferred Stock”), that
is convertible into shares of the Company’s common stock. The Certificate of Designation of Series F Convertible Preferred Stock
(the “Series F Certificate of Designation”) previously provided that shares of Series F Preferred Stock were convertible
into common stock by a holder at any time. On August 23, 2021, the Company filed Amendment No. 2 to the Series F Certificate of Designation
to provide that shares of Series F Preferred Stock are not convertible into common stock by a holder until (A) August 23, 2023 or (B)
the date on which such a conversion may be required for the purpose of (i) uplisting the Company to a new stock exchange, or (ii) selling
more than 50% of the Company’s assets.
The
foregoing summary of Amendment No. 2 to the Series F Certificate of Designation is not complete and is qualified in its entirety by reference
to the full text of the Series F Certificate of Designation, a copy of which is attached hereto as Exhibit 10.1 and is incorporated herein
by reference.
Unless
otherwise indicated, the following exhibits are filed herewith:
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
Dated:
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August
23, 2021
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ARTIFICIAL
INTELLIGENCE TECHNOLOGY SOLUTIONS INC.
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By:
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/s/
Steven Reinharz
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Name:
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Steven
Reinharz
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Title:
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Chief
Executive Officer
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Artificial Intelligence ... (PK) (USOTC:AITX)
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