EARNINGS (LOSS) PER SHARE

12 Months Ended

Feb. 29, 2024

Earnings Per Share [Abstract]

EARNINGS (LOSS) PER SHARE

14. EARNINGS (LOSS) PER SHARE

The net income (loss) per common share amounts were determined as follows:

	For the Year Ended
	February 29,			February 28,
	2024			2023
Numerator:
Net income (loss) available to common shareholders	$	(20,708,716	)	$	(18,109,457	)
Effect of common stock equivalents
Add: interest expense on convertible debt		—			47,075
Add (less) loss (gain) on change of derivative liabilities		—			(3,595	)
Net income (loss) adjusted for common stock equivalents		(20,708,716	)		(18,065,977	)
Denominator:
Weighted average shares - basic		7,080,914,317			5,091,857,082
Net income (loss) per share – basic	$	(0.00	)	$	(0.00	)
Denominator:
Weighted average shares – diluted		7,080,914,317			5,091,857,082
Net income (loss) per share – diluted	$	(0.00	)	$	(0.00	)

The anti-dilutive shares of common stock equivalents for the years ended February 29, 2024 and February 28, 2023 were as follows:

	For the Year Ended
	February 29,		February 28,
	2024		2023
Convertible Class F Preferred Shares*		31,873,690,805		—
Stock options and warrants		489,262,696		496,942,251
Total		32,362,953,501		496,942,251

* On August 23, 2021, the Company filed amended Series F preferred shares such that Series F preferred shares 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. Had these Series F preferred shares been convertible at February 29, 2024 and February 28, 2023 the dilutive effects would be as follows:

	For the Year Ended
	February 29 and February 28
	2024		2023
Convertible Series F Preferred Shares		—		20,178,158,517

ARTIFICIAL INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS