$AITX
Artificial Intelligence Technology Solutions Inc.

2015 Q1 Form 10-Q Financial Statement

#000116169715000019 Filed on January 14, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 Q4 2013 Q4
Revenue $2.250K
YoY Change
Cost Of Revenue
YoY Change
Gross Profit $2.250K
YoY Change
Gross Profit Margin 100.0%
Selling, General & Admin $113.9K $181.4K
YoY Change -37.25% 191.9%
% of Gross Profit 5060.13%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $125.9K $196.4K
YoY Change -35.93% 216.04%
Operating Profit -$123.6K -$196.4K
YoY Change -37.08% 289.21%
Interest Expense $104.4K $23.72K
YoY Change 340.19% 4054.82%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings -$228.0K -$235.6K
YoY Change -3.21% 361.57%
Net Earnings / Revenue -10134.8%
Basic Earnings Per Share
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding 34.28M shares 20.30M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q1 2014 Q4 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $2.679K $13.33K $17.36K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $10.90K
Prepaid Expenses
Receivables $5.250K $3.000K $9.933K
Other Receivables
Total Short-Term Assets $7.929K $16.33K $45.17K
YoY Change -78.68% -63.84%
LONG-TERM ASSETS
Property, Plant & Equipment $80.13K $84.67K $23.88K
YoY Change 254.5%
Goodwill $54.72K
YoY Change
Intangibles $9.333K
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $80.13K $84.67K $87.94K
YoY Change 351.41% -3.72%
TOTAL ASSETS
Total Short-Term Assets $7.929K $16.33K $45.17K
Total Long-Term Assets $80.13K $84.67K $87.94K
Total Assets $88.06K $101.0K $133.1K
YoY Change 60.29% -24.12%
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 $886.5K $907.5K $321.7K
YoY Change 21.62% 182.14%
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 $886.5K $907.5K $321.7K
Total Long-Term Liabilities
Total Liabilities $1.116M $951.0K $606.5K
YoY Change 39.14% 56.81%
SHAREHOLDERS EQUITY
Retained Earnings -$6.380M -$6.089M -$5.047M
YoY Change 19.69% 20.65%
Common Stock $75.00 $3.268K $2.210K
YoY Change 63.04% 47.87%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.027M -$850.0K -$473.4K
YoY Change
Total Liabilities & Shareholders Equity $88.06K $101.0K $133.1K
YoY Change 60.29% -24.12%

Cashflow Statement

Concept 2015 Q1 2014 Q4 2013 Q4
OPERATING ACTIVITIES
Net Income -$228.0K -$235.6K
YoY Change -3.21% 361.57%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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us-gaap Prior Period Reclassification Adjustment Description
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<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style=" margin: 0px; font-family : Times New Roman; font-size: 10pt;"><strong>Reclassifications</strong></p> <p style=" margin: 0px; text-align: justify; font-family : Times New Roman; font-size: 10pt;">&#160;</p> <p style=" margin: 0px; text-align: justify; font-family : Times New Roman; font-size: 10pt;">Certain reclassifications have been made to the prior year financial statements to conform with the current year presentation.</p> </div>
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<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style=" margin: 0px; font-family : Times New Roman; font-size: 10pt;"><strong>Note 1. General Organization and Business</strong></p> <p style=" margin: 0px; text-align: justify; font-family : Times New Roman; font-size: 10pt;">&#160;</p> <p style=" margin: 0px; text-align: justify;"><font style=" font-size: 10pt;">On the Move Systems Corp. (&#147;we&#148;, &#147;us&#148;, &#147;our&#148;, &#147;OMVS&#148;, or the &#147;Company&#148;) was incorporated in Florida on March 25, 2010. The Company's business focus was the mobile electronics market, but is it currently transitioning to the transportation and trucking market. &#160;The Company's year-end is February 28. The company is located at 3001 North Rocky Point East, Suite 200, Tampa, FL 33607. Our telephone number is (813) 367-3511.</font></p> <p style=" margin: 0px; text-align: justify;">&#160;</p> <p style=" margin: 0px; text-align: justify;"><font style=" font-size: 10pt;">On March 25, 2011, Crawford Mobile Installation Corp. (&#147;CMIC&#148;), a wholly owned subsidiary of the Company acquired all of the assets and assumed certain liabilities of Crawford Mobile Install (&#147;CMI&#148;). The assets of CMI included cash, inventory, a vehicle and installation equipment. 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. The purchase price for the assets and liabilities of CMI was $<font>100,000</font>.</font></p> <p style=" margin: 0px; text-align: justify;">&#160;</p> <p style=" margin: 0px; text-align: justify;"><font style=" font-size: 10pt;">On September 1, 2014, we defaulted on a note payable to John Crawford. Pursuant to the terms of the note, <font>100</font>% of the shares of CMIC were provided to Mr. Crawford. See Note <font>4</font> for additional details on this transaction.</font></p> </div>
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NetCashProvidedByUsedInFinancingActivities
319507 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
381616 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-16853 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
1689 USD
CY2013Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
15670 USD
CY2013Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
17359 USD
us-gaap Interest Paid
InterestPaid
1794 USD
us-gaap Interest Paid
InterestPaid
USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
USD
omvs Refinancing Of Advances Into Convertible Notes Payable
RefinancingOfAdvancesIntoConvertibleNotesPayable
459602 USD
omvs Refinancing Of Advances Into Convertible Notes Payable
RefinancingOfAdvancesIntoConvertibleNotesPayable
658553 USD
us-gaap Debt Instrument Convertible Beneficial Conversion Feature
DebtInstrumentConvertibleBeneficialConversionFeature
658553 USD
us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
95800 USD
us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
36000 USD
us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
32004 USD
us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
USD
us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
30000 USD
us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
USD
us-gaap Stock Issued During Period Value Conversion Of Convertible Securities Net Of Adjustments
StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments
95800 USD
us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
9580000 shares
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
17738 USD
dei Entity Registrant Name
EntityRegistrantName
ON THE MOVE SYSTEMS CORP.
dei Entity Central Index Key
EntityCentralIndexKey
0001498148
dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2014-11-30
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--02-28
dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2015
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
3600000 shares
CY2014Q4 omvs Debt Instrument Default Interest Rate Effective Percentage
DebtInstrumentDefaultInterestRateEffectivePercentage
0.18 pure
CY2014Q4 omvs Number Of Shares Owned Of Florida Corporation To Receive One Share Of Nevada Corporation
NumberOfSharesOwnedOfFloridaCorporationToReceiveOneShareOfNevadaCorporation
500 shares
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
145463 USD

Files In Submission

Name View Source Status
0001161697-15-000019-index-headers.html Edgar Link pending
0001161697-15-000019-index.html Edgar Link pending
0001161697-15-000019.txt Edgar Link pending
0001161697-15-000019-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
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form_10-q.htm Edgar Link pending
omvs-20141130.xml Edgar Link completed
omvs-20141130.xsd Edgar Link pending
omvs-20141130_cal.xml Edgar Link unprocessable
omvs-20141130_def.xml Edgar Link unprocessable
omvs-20141130_lab.xml Edgar Link unprocessable
omvs-20141130_pre.xml Edgar Link unprocessable
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