AITX Announces Cost Reduction Plan Targeting Improved Cash Flow from Operations

Company Expects Approximately $2.4 Million in Annualized Run-Rate Reductions to Cash Selling, General and Administrative Expenditures

Detroit, Michigan, Aug. 03, 2026 (GLOBE NEWSWIRE) -- Artificial Intelligence Technology Solutions, Inc. (the “Company”) (OTCID:AITX), a developer and operator of AI-driven security and productivity solutions for enterprise clients, today announced that on August 1, 2026 its Chief Executive Officer, acting pursuant to authority delegated by its Board of Directors, committed the Company to a company-wide cost reduction plan (the “Plan”). Once fully implemented, the Company expects the Plan to reduce its monthly cash expenditures for selling, general and administrative expenses by approximately $200,000 a month, or approximately $2.4 million on an annualized run-rate basis, measured against the Company’s selling, general and administrative cash expenditures for fiscal quarter ending May 31, 2026. The Company expects the $200,000/month cash spend reduction to be fully effective by December 2026. The Company stated these actions move the Company closer to its objective of positive monthly cash flow from operations by December 31, 2026. Total operating expenses in the Company’s first quarter ending May 31, 2026, were $3,893,188, down 12% from $4,412,170 in the first quarter of the prior year. These numbers are determined in accordance with generally accepted accounting principles and were either fully audited or auditor reviewed. See “Note Regarding Non-GAAP Financial Measures” below.