10-K/A Filing

ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC. CIK: 1498148 FY 2012

Filing Information

Form Type	10-K/A
Accession Number	`0001161697-14-000281`
Period End Date	20130228
Filing Date	20140625
Fiscal Year	2012
Fiscal Period	FY
XBRL Instance	omvs-20130228.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 20 Cash Flow Statement 68 Stockholders Equity 14

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Fixed assets, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$26.87K	USD	Point-in-time
Fixed assets, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$21.66K	USD	Point-in-time
Preferred stock, par value per share	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value per share	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.72K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$128.76K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.69K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$3.79K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$5.70K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventory	`InventoryNet`	$22.01K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventory	`InventoryNet`	$17.14K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$41.53K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$44.52K	USD	Point-in-time
Common stock, par value per share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Fixed assets, net of accumulated depreciation of $26,871 and $21,657	`PropertyPlantAndEquipmentNet`	$37.84K	USD	Point-in-time
Common stock, par value per share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Fixed assets, net of accumulated depreciation of $26,871 and $21,657	`PropertyPlantAndEquipmentNet`	$32.62K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$77.15K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$79.37K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	18.50M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	18.50M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	18.50M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	18.50M	shares	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$107.20K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$28.07K	USD	Point-in-time
Accounts payable and accrued expenses - related party	`DueToRelatedPartiesCurrent`	$10.45K	USD	Point-in-time
Accounts payable and accrued expenses - related party	`DueToRelatedPartiesCurrent`	-	USD	Point-in-time
Current portion of notes payable and accrued interest payable	`NotesPayableCurrent`	$288.12K	USD	Point-in-time
Current portion of notes payable and accrued interest payable	`NotesPayableCurrent`	$273.46K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$380.66K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$326.63K	USD	Point-in-time
Convertible note payable	`ConvertibleDebtNoncurrent`	$32.60K	USD	Point-in-time
Convertible note payable	`ConvertibleDebtNoncurrent`	$313.79K	USD	Point-in-time
Notes payable	`LongTermNotesPayable`	$2.00K	USD	Point-in-time
Notes payable	`LongTermNotesPayable`	$10.47K	USD	Point-in-time
Note payable to related party	`NotesPayableRelatedPartiesNoncurrent`	$79.20K	USD	Point-in-time
Note payable to related party	`NotesPayableRelatedPartiesNoncurrent`	$65.39K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$448.89K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$761.85K	USD	Point-in-time
Preferred stock; $0.0001 par value; 10,000,000 shares authorized; 0 shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock; $0.0001 par value; 10,000,000 shares authorized; 0 shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock: 100,000,000 authorized; $0.0001 par value 18,500,000 shares issued and outstanding	`CommonStockValue`	$1.85K	USD	Point-in-time
Common stock: 100,000,000 authorized; $0.0001 par value 18,500,000 shares issued and outstanding	`CommonStockValue`	$1.85K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$3.88M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$3.88M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-4.56M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-4.25M	USD	Point-in-time
TOTAL STOCKHOLDERS' DEFICIT	`StockholdersEquity`	$26.43K	USD	Point-in-time
TOTAL STOCKHOLDERS' DEFICIT	`StockholdersEquity`	$-684.71K	USD	Point-in-time
TOTAL STOCKHOLDERS' DEFICIT	`StockholdersEquity`	$-369.53K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$77.15K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$79.37K	USD	Point-in-time

Income Statement 20 line items

Line Item	Tag	Value	Unit	Period
REVENUE	`Revenues`	$114.02K	USD	Annual
REVENUE	`Revenues`	$72.26K	USD	Annual
COST OF GOODS SOLD	`CostOfGoodsSold`	$32.40K	USD	Annual
COST OF GOODS SOLD	`CostOfGoodsSold`	$69.81K	USD	Annual
GROSS PROFIT	`GrossProfit`	$44.22K	USD	Annual
GROSS PROFIT	`GrossProfit`	$39.85K	USD	Annual
Selling, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$4.11M	USD	Annual
Selling, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$348.79K	USD	Annual
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-4.07M	USD	Annual
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-304.58K	USD	Annual
Loss on acquisition of Crawford Mobile Install	`LossOnBusinessAcquiredFromAnEntityUnderCommonControl`	-	USD	Annual
Loss on acquisition of Crawford Mobile Install	`LossOnBusinessAcquiredFromAnEntityUnderCommonControl`	$128.72K	USD	Annual
Interest expense	`InterestExpense`	$10.60K	USD	Annual
Interest expense	`InterestExpense`	$14.37K	USD	Annual
Net loss	`NetIncomeLoss`	$-315.18K	USD	Annual
Net loss	`NetIncomeLoss`	$-4.21M	USD	Annual
Net loss per share - basic and fully diluted	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	Annual
Net loss per share - basic and fully diluted	`EarningsPerShareBasicAndDiluted`	$-0.28	USD	Annual
Weighted average number of common shares outstanding- basic and fully diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	14.99M	shares	Annual
Weighted average number of common shares outstanding- basic and fully diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	18.50M	shares	Annual

Cash Flow Statement 68 line items

Line Item	Tag	Value	Unit	Period
Fixed assets, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$26.87K	USD	Point-in-time
Fixed assets, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$21.66K	USD	Point-in-time
Intangible assets, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$3.67K	USD	Point-in-time
Intangible assets, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$7.67K	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-315.18K	USD	Annual
Net loss	`NetIncomeLoss`	$-4.21M	USD	Annual
Preferred stock, par value per share	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value per share	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.50K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.21K	USD	Annual
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Stock-based compensation	`ShareBasedCompensation`	-	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$3.75M	USD	Annual
Common stock, par value per share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value per share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Loss on acquisition of Crawford Mobile Install	`LossOnBusinessAcquiredFromAnEntityUnderCommonControl`	-	USD	Annual
Loss on acquisition of Crawford Mobile Install	`LossOnBusinessAcquiredFromAnEntityUnderCommonControl`	$128.72K	USD	Annual
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$3.66K	USD	Annual
Common stock, shares issued	`CommonStockSharesIssued`	18.50M	shares	Point-in-time
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.91K	USD	Annual
Common stock, shares issued	`CommonStockSharesIssued`	18.50M	shares	Point-in-time
Inventory	`IncreaseDecreaseInInventories`	$16.68K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$4.88K	USD	Annual
Common stock, shares outstanding	`CommonStockSharesOutstanding`	18.50M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	18.50M	shares	Point-in-time
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$31.17K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$68.68K	USD	Annual
Accrued interest payable	`IncreaseDecreaseInInterestPayableNet`	$14.37K	USD	Annual
Accrued interest payable	`IncreaseDecreaseInInterestPayableNet`	$10.60K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-233.65K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-305.04K	USD	Annual
Acquisition of Crawford Mobile, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	Annual
Acquisition of Crawford Mobile, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$7.70K	USD	Annual
Purchases of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	Annual
Purchases of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$23.29K	USD	Annual
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-30.99K	USD	Annual
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	Annual
Proceeds from advances	`ProceedsFromNotesPayable`	$255.94K	USD	Annual
Proceeds from advances	`ProceedsFromNotesPayable`	$284.94K	USD	Annual
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Repayments of notes payable	`RepaymentsOfNotesPayable`	$8.46K	USD	Annual
Repayments of notes payable	`RepaymentsOfNotesPayable`	$36.97K	USD	Annual
Repayments of notes payable to related parties	`RepaymentsOfRelatedPartyDebt`	$22.00K	USD	Annual
Repayments of notes payable to related parties	`RepaymentsOfRelatedPartyDebt`	$13.80K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$233.68K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$225.96K	USD	Annual
NET CHANGE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$28.00	USD	Annual
NET CHANGE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-110.07K	USD	Annual
CASH, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$18.72K	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$128.76K	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$18.69K	USD	Point-in-time
CASH, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$18.72K	USD	Point-in-time
CASH, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$128.76K	USD	Point-in-time
CASH, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$18.69K	USD	Point-in-time
Cash paid during the period for: Interest	`InterestPaid`	-	USD	Annual
Cash paid during the period for: Interest	`InterestPaid`	-	USD	Annual
Cash paid during the period for: Taxes	`IncomeTaxesPaid`	-	USD	Annual
Cash paid during the period for: Taxes	`IncomeTaxesPaid`	-	USD	Annual
Acquisition of Crawford Mobile Installation for note payable	`NotesIssued1`	$90.00K	USD	Annual
Acquisition of Crawford Mobile Installation for note payable	`NotesIssued1`	-	USD	Annual

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$26.43K	USD	Point-in-time
Balance	`StockholdersEquity`	$-684.71K	USD	Point-in-time
Balance	`StockholdersEquity`	$-369.53K	USD	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	18.50M	shares	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	18.50M	shares	Point-in-time
Stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$3.75M	USD	Annual
Stock issued for conversion of debt	`StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments`	$67.50K	USD	Annual
Net loss	`NetIncomeLoss`	$-315.18K	USD	Annual
Net loss	`NetIncomeLoss`	$-4.21M	USD	Annual
Balance	`StockholdersEquity`	$26.43K	USD	Point-in-time
Balance	`StockholdersEquity`	$-684.71K	USD	Point-in-time
Balance	`StockholdersEquity`	$-369.53K	USD	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	18.50M	shares	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	18.50M	shares	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.