$AITX
Artificial Intelligence Technology Solutions Inc.

2012 Form 10-K Financial Statement

#000116169712000493 Filed on June 13, 2012

View on sec.gov

Income Statement

Concept 2012 2011 Q1 2010 Q1
Revenue $72.26K
YoY Change
Cost Of Revenue $32.40K
YoY Change
Gross Profit $39.85K
YoY Change
Gross Profit Margin 55.15%
Selling, General & Admin $4.114M
YoY Change
% of Gross Profit 10322.91%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $8.165K
YoY Change
% of Gross Profit 20.49%
Operating Expenses $4.114M
YoY Change
Operating Profit -$4.074M
YoY Change
Interest Expense $14.37K
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings -$4.088M
YoY Change
Net Earnings / Revenue -5658.22%
Basic Earnings Per Share
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2012 2011 Q1 2010 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $128.8K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $128.8K
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles $0.00
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $128.8K
Total Long-Term Assets $0.00
Total Assets $128.8K
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.225K
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $2.225K
Total Long-Term Liabilities
Total Liabilities $102.3K
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$35.07K
YoY Change
Common Stock $1.250K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $26.44K
YoY Change
Total Liabilities & Shareholders Equity $128.8K
YoY Change

Cashflow Statement

Concept 2012 2011 Q1 2010 Q1
OPERATING ACTIVITIES
Net Income -$4.088M
YoY Change
Depreciation, Depletion And Amortization $8.165K
YoY Change
Cash From Operating Activities -$305.0K
YoY Change
INVESTING ACTIVITIES
Capital Expenditures $23.29K
YoY Change
Acquisitions $7.700K
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$30.99K
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $226.0K
YoY Change
NET CHANGE
Cash From Operating Activities -$305.0K
Cash From Investing Activities -$30.99K
Cash From Financing Activities $226.0K
Net Change In Cash -$110.1K
YoY Change
FREE CASH FLOW
Cash From Operating Activities -$305.0K
Capital Expenditures $23.29K
Free Cash Flow -$328.3K
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2012 dei Amendment Flag
AmendmentFlag
false
CY2012 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--02-29
CY2012 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2012 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2012 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2012 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
CY2012 dei Document Period End Date
DocumentPeriodEndDate
2012-02-29
CY2012 dei Document Type
DocumentType
10-K
CY2012 dei Entity Central Index Key
EntityCentralIndexKey
0001498148
CY2012Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
18500000
CY2012 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2012 dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
CY2011Q3 dei Entity Public Float
EntityPublicFloat
8500000 USD
CY2012 dei Entity Registrant Name
EntityRegistrantName
ON THE MOVE SYSTEMS CORP.
omvs Issuance Of Stock For Cash December23 Through312010 Value
IssuanceOfStockForCashDecember23Through312010Value
30000 USD
omvs Issuance Of Stock For Cash January2 Through92011 Value
IssuanceOfStockForCashJanuary2Through92011Value
22500 USD
omvs Issuance Of Stock For Cash March252010 Value
IssuanceOfStockForCashMarch252010Value
9000 USD
CY2012 omvs Weighted Average Number Of Common Shares Outstanding Basic And Fully Diluted
WeightedAverageNumberOfCommonSharesOutstandingBasicAndFullyDiluted
14987705
omvs Weighted Average Number Of Common Shares Outstanding Basic And Fully Diluted
WeightedAverageNumberOfCommonSharesOutstandingBasicAndFullyDiluted
9614167
CY2012Q1 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
28071 USD
CY2011Q1 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
2225 USD
CY2012Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
5702 USD
CY2011Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
USD
CY2012Q1 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
3877150 USD
CY2011Q1 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
60250 USD
CY2012Q1 us-gaap Assets
Assets
204423 USD
CY2011Q1 us-gaap Assets
Assets
128760 USD
CY2012Q1 us-gaap Assets Current
AssetsCurrent
41527 USD
CY2011Q1 us-gaap Assets Current
AssetsCurrent
128760 USD
CY2012Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
18690 USD
CY2010Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
USD
CY2011Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
128760 USD
CY2012 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-110070 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
128760 USD
us-gaap Cost Of Goods Sold
CostOfGoodsSold
USD
CY2012Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2011Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2012Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
16333 USD
CY2011Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
USD
CY2012 us-gaap Interest Expense
InterestExpense
14373 USD
CY2012Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2011Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2012Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
18500000
CY2011Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
12500000
CY2012Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
18500000
CY2011Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
12500000
CY2012Q1 us-gaap Common Stock Value
CommonStockValue
1850 USD
CY2011Q1 us-gaap Common Stock Value
CommonStockValue
1250 USD
CY2012Q1 us-gaap Convertible Debt Noncurrent
ConvertibleDebtNoncurrent
32600 USD
CY2011Q1 us-gaap Convertible Debt Noncurrent
ConvertibleDebtNoncurrent
100100 USD
CY2012 us-gaap Cost Of Goods Sold
CostOfGoodsSold
32404 USD
CY2012 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
8165 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
USD
CY2012Q1 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
10446 USD
CY2011Q1 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
USD
CY2012 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.27
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.0
CY2011Q1 us-gaap Equity Issuance Dollar Amount Per Share
EquityIssuanceDollarAmountPerShare
0.015
CY2010Q1 us-gaap Equity Issuance Dollar Amount Per Share
EquityIssuanceDollarAmountPerShare
0.001
CY2010Q4 us-gaap Equity Issuance Dollar Amount Per Share
EquityIssuanceDollarAmountPerShare
0.015
CY2012Q1 us-gaap Goodwill
Goodwill
108724 USD
CY2011Q1 us-gaap Goodwill
Goodwill
USD
CY2012 us-gaap Gross Profit
GrossProfit
39852 USD
us-gaap Gross Profit
GrossProfit
USD
CY2012 us-gaap Income Taxes Paid
IncomeTaxesPaid
USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
USD
CY2012 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
31170 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
2225 USD
CY2012 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
3660 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
USD
CY2012 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
14373 USD
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
USD
CY2012 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
16685 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
USD
CY2011Q1 us-gaap Inventory Net
InventoryNet
USD
CY2012Q1 us-gaap Liabilities
Liabilities
448895 USD
CY2011Q1 us-gaap Liabilities
Liabilities
102325 USD
CY2012Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
204423 USD
CY2011Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
128760 USD
CY2012Q1 us-gaap Liabilities Current
LiabilitiesCurrent
326632 USD
CY2011Q1 us-gaap Liabilities Current
LiabilitiesCurrent
2225 USD
CY2012Q1 us-gaap Long Term Notes Payable
LongTermNotesPayable
10467 USD
CY2011Q1 us-gaap Long Term Notes Payable
LongTermNotesPayable
USD
us-gaap Interest Expense
InterestExpense
USD
CY2012 us-gaap Interest Paid
InterestPaid
USD
us-gaap Interest Paid
InterestPaid
USD
CY2012Q1 us-gaap Inventory Net
InventoryNet
17135 USD
CY2012 us-gaap Nature Of Operations
NatureOfOperations
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --> <div> <div style="WIDTH: 720px"><!--StartFragment--> <p style="MARGIN: 0px"><strong>1. Background Information</strong></p> <p style="MARGIN: 0px"><br /> </p> <p style="TEXT-ALIGN: justify; MARGIN: 0px">On The Move Systems Corp., a Florida corporation ("we", "us", "our", "OMVS", or the "Company"), was formed to provide mobile electronic services to automobile, recreational vehicle and boat dealerships, government agencies as well as individual consumers. The Company installs its inventoried after market electronic products desired by the customer at their location. The Company was incorporated on March 25, 2010 (Date of Inception) with its corporate headquarters located in Tampa, Florida. Its fiscal year-end is February 28.</p> <p style="TEXT-ALIGN: justify; MARGIN: 0px"><br /> </p> <p style="TEXT-ALIGN: justify; MARGIN: 0px">On March 25, 2011, Crawford Mobile Installation Corp. ("CMIC"), a wholly owned subsidiary of the Company acquired all of the assets and assumed certain liabilities of Crawford Mobile Install ("CMI"). &nbsp;The assets of CMI included cash, inventory, a vehicle and installation equipment. &nbsp;On the date of the acquisition, a material relationship existed between the parties, because John Crawford was the sole officer and director of both the Company and CMIC as well as being the sole proprietor of CMI. &nbsp;The purchase price for the assets and liabilities of CMI was $100,000. &nbsp;</p> <p style="TEXT-ALIGN: justify; MARGIN: 0px"><br /> </p> <p style="TEXT-ALIGN: justify; MARGIN: 0px">On March 22, 2012, we signed a letter of intent to investigate new strategic opportunities with Kelley Emergency Alert Systems, LLC ("KEAS"). KEAS owns the license to a cutting-edge alert system designed to improve driver response time to approaching emergency vehicles. Integrated with registration tags mounted on vehicle windshields, the alert visually and audibly signals drivers to take caution when emergency vehicles such as fire trucks and ambulances are nearby.</p> <p style="TEXT-ALIGN: justify; MARGIN: 0px"><br /> </p> <p style="TEXT-ALIGN: justify; MARGIN: 0px"><u>Development Stage Company</u></p> <p style="TEXT-ALIGN: justify; MARGIN: 0px"><br /> </p> <p style="TEXT-ALIGN: justify; MARGIN: 0px">From the date of inception, March 25, 2010, through the date of the acquisition of CMI on March 25, 2011, the Company was in the development stage as defined in ASC 915, "Accounting and Reporting by Development Stage Enterprises". &nbsp;As a result of the acquisition of CMI, the Company has begun to generate revenue from operations and has emerged from the development stage.</p> <!--EndFragment--></div> </div>
CY2012 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
225964 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
161600 USD
CY2012 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-30990 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
USD
CY2012 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-305044 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-32840 USD
CY2012 us-gaap Net Income Loss
NetIncomeLoss
-4088407 USD
us-gaap Net Income Loss
NetIncomeLoss
-35065 USD
CY2012 us-gaap Notes Issued1
NotesIssued1
90000 USD
us-gaap Notes Issued1
NotesIssued1
USD
CY2012Q1 us-gaap Notes Payable Current
NotesPayableCurrent
288115 USD
CY2011Q1 us-gaap Notes Payable Current
NotesPayableCurrent
USD
CY2012Q1 us-gaap Notes Payable Related Parties Noncurrent
NotesPayableRelatedPartiesNoncurrent
79196 USD
CY2011Q1 us-gaap Notes Payable Related Parties Noncurrent
NotesPayableRelatedPartiesNoncurrent
USD
CY2012 us-gaap Operating Income Loss
OperatingIncomeLoss
-4074034 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-35065 USD
CY2012 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
7700 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
USD
CY2012 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
23290 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
USD
CY2012Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2011Q1 us-gaap Preferred Stock Value
PreferredStockValue
USD
CY2012 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
61500 USD
CY2012 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
284938 USD
CY2011Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2012Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2011Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2012Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2011Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2012Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2011Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2012Q1 us-gaap Preferred Stock Value
PreferredStockValue
USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
100100 USD
CY2012Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
37839 USD
CY2011Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
USD
CY2012 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
36974 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
USD
CY2012 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
22000 USD
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
USD
CY2012Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-4123472 USD
CY2011Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-35065 USD
CY2012 us-gaap Revenues
Revenues
72256 USD
us-gaap Revenues
Revenues
USD
CY2012 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
4113886 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
35065 USD
CY2012 us-gaap Share Based Compensation
ShareBasedCompensation
3750000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
USD
CY2012Q1 us-gaap Stockholders Equity
StockholdersEquity
-244472 USD
CY2010Q1 us-gaap Stockholders Equity
StockholdersEquity
USD
CY2011Q1 us-gaap Stockholders Equity
StockholdersEquity
26435 USD
CY2012 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities Net Of Adjustments
StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments
67500 USD
CY2012 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
3750000 USD

Files In Submission

Name View Source Status
0001161697-12-000493-index-headers.html Edgar Link pending
0001161697-12-000493-index.html Edgar Link pending
0001161697-12-000493.txt Edgar Link pending
0001161697-12-000493-xbrl.zip Edgar Link pending
ex_31-1.htm Edgar Link pending
ex_32-1.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
form_10-k.htm Edgar Link pending
omvs-20120229.xml Edgar Link completed
omvs-20120229.xsd Edgar Link pending
omvs-20120229_cal.xml Edgar Link unprocessable
omvs-20120229_def.xml Edgar Link unprocessable
omvs-20120229_lab.xml Edgar Link unprocessable
omvs-20120229_pre.xml Edgar Link unprocessable
pmcpa_logo.jpg Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R2.htm Edgar Link pending
R3.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending