What changed in this filing

/stocks — the workspaceLOADING

Item 1. Financial Statements

2026-01-14 compared with 2025-10-15 · 527 added, 423 removed, 1009 unchanged (48% of the section changed)

32 unchanged sentences

$ 0.001 par value;

8 % cumulative dividend payable quarterly,$ 1,200 stated value, 5,000 shares authorized, no shares issued and outstanding at August 31, 2025 and February 28, 2025, respectively

8 % cumulative dividend payable quarterly,$ 1,200 stated value, 5,000 shares authorized, no shares issued and outstanding at November 30, 2025 and February 28, 2025, respectively

Series C Convertible, Redeemable Preferred Stock.

$ 0.001 par value;

$ 1,200 stated value, redeemable at 109.5 % , 12 % dividend, 1,000 shares authorized , 343 and 306 shares issued and outstanding at August 31, 2025 and February 28, 2025, respectively

Convertible, Redeemable Preferred

$ 1,200 stated value, redeemable at 109.5 %, 12 % dividend, 1,000 shares authorized, 667 and 306 shares issued and outstanding at November 30, 2025 and February 28, 2025, respectively

Convertible, Redeemable Preferred Stock, value

Commitments and Contingencies

2 unchanged sentences

15,534,000 shares authorized;

no shares issued and outstanding at August 31, 2025 and February 28, 2025, respectively

no shares issued and outstanding at November 30, 2025 and February 28, 2025, respectively

Series G Redeemable Preferred Stock.

$ 0.001 par value;

100,000 shares authorized, no shares issued and outstanding at August 31, 2025 and February 28, 2025, respectively

100,000 shares authorized, no shares issued and outstanding at November 30, 2025 and February 28, 2025, respectively

Series E Preferred Stock, $ 0.001 par value;

4 unchanged sentences

2,513 and 2,513 shares issued and outstanding, respectively

Preferred Stock, value

Common Stock, $ 0.00001 par value;

13 unchanged sentences

CONSOLIDATED STATEMENTS OF OPERATIONS

Purchases and overhead

Depreciation and amortization

November 30, 2025

November 30, 2024

November 30, 2025

November 30, 2024

Cost of Goods Sold

Depreciation and amortization

Total Cost of Goods Sold

Operating expenses:

19 unchanged sentences

( 1,401,076 )

Net income (loss)

( 4,078,628 )

1 unchanged sentence

$ ( 3,703,974 )

$ ( 8,561,753 )

$ ( 11,828,656 )

Net income (loss) per share - basic

15 unchanged sentences

Shareholder’s Deficit

Preferred Stock

Shareholders’

Series B Preferred Stock

Series E Preferred Stock

Series F Preferred Stock

Additional Paid-In

Total Shareholders’

Balance at February 29, 2024

31 unchanged sentences

$ ( 45,470,363 )

Issuance of shares, net of $ 93,885 issuance costs

Stock based compensation

( 3,703,974 )

Balance at November 30, 2024

12,581,671,042

$ 102,141,607

$ ( 149,389,994 )

$ ( 47,017,621 )

accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

4 unchanged sentences

Preferred Stock

Shareholders’

Series E Preferred Stock

Series F Preferred Stock

Additional Paid-In

Total Shareholders’

Balance at February 28, 2025

15 unchanged sentences

$ ( 50,514,954 )

Issuance of shares, net of $ 75,919 issuance costs

1,540,380,240

Debt exchanged for common shares

1,250,000,000

Series C Preferred shares issued as dividend

Series C penalty shares

Redemption of Series C shares

Stock based compensation

Balance at August 31, 2025

19,787,834,008

$ 112,724,037

$ ( 160,357,755 )

$ ( 47,330,891 )

19,787,834,008

$ 112,724,037

$ ( 160,357,755 )

$ ( 47,330,891 )

Issuance of shares, net of $ 166,496 issuance costs

7 unchanged sentences

Series C penalty shares

Redemption of Series C shares

Stock based compensation

Balance at August 31, 2025

( 4,730,800 )

at November 30, 2025

23,287,834,008

4 unchanged sentences

$ 115,170,827

$ ( 165,088,555 )

$ ( 49,579,901 )

accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

1 unchanged sentence

CONSOLIDATED STATEMENTS OF CASH FLOWS

Nine Months Ended

November 30, 2025

Nine Months Ended

November 30, 2024

CASH FLOWS USED IN OPERATING ACTIVITIES:

9 unchanged sentences

Amortization of debt discounts

Penalty added to face value of loan

(Gain) loss on settlement of debt

9 unchanged sentences

Accounts payable and accrued expenses

Customer deposits

Deferred compensation for CEO

( 1,004,917 )

Customer deposits

Operating lease liabilities

13 unchanged sentences

Repayment of loans payable

Proceeds on issuance of Series B shares

Redemption of Series B or Series C shares

Proceeds on issuance of Series B Preferred shares

Redemption of Series B or Series C Preferred shares

Net cash provided by financing activities

6 unchanged sentences

Noncash investing and financing activities:

Share proceeds receivable

Transfer from device parts inventory to revenue earning devices

Right of use asset for lease liability

Cumulative Effect Adjustment RFV discount per adoption of ASU 2020-06 at March 1, 2024

1 unchanged sentence

Exchange of note payable for common stock

Right of use asset for lease liability

Series B or Series C preferred shares issued as dividend

Discount applied to face value of the loan

Discount applied to face value of loans

Series C penalty shares issued

31 unchanged sentences

to continue as a going concern.

the six months ended August 31, 2025, the Company had negative cash flow from operating activities of $ 5,400,554 .

As of August 31, 2025,

the nine months ended November 30, 2025, the Company had negative cash flow from operating activities of $ 7,451,163 .

As of November 30,

2025, the Company has an accumulated deficit of $ 165,088,555 , and negative working capital of $ 14,023,829 .

Management does not anticipate having

positive cash flow from operations in the near future.

These factors raise a substantial doubt about the Company’s ability to continue

as a going concern for the twelve months following the issuance of these financial statements.

Management does not anticipate

having positive cash flow from operations in the near future.

These factors raise substantial doubt about the Company’s ability

to continue as a going concern for the twelve months following the issuance of these financial statements.

Company does not have the resources at this time to repay all its credit and debt obligations, make any payments in the form of dividends

10 unchanged sentences

a two-year period.

There still remains $ 29 million left to issue under this arrangement.

There still remains about $ 27 million left to issue under this arrangement.

Management believes that it has the necessary

14 unchanged sentences

in conjunction with the audited financial statements and notes thereto in the Company’s latest Annual Report filed with the SEC

on Form 10-K/A as filed on May 29, 2025.

on Form 10-K as filed on May 29, 2025.

The unaudited condensed consolidated financial statements include the accounts of the Company

and its wholly owned subsidiaries, Robotic Assistance Devices, Inc., Robotic Assistance Devices Group, Inc, Robotic Assistance Devices

Mobile, Inc., and Robotic Assistance Devices Residential, Inc..

All significant intercompany accounts and transactions have been eliminated

in consolidation.

The unaudited consolidated financial statements reflect all adjustments, consisting of normal recurring accruals, which

are, in the opinion of management, necessary for a fair presentation of such statements.

The results of operations for the six months

ended August 31, 2025, are not necessarily indicative of the results that may be expected for the entire year.

Mobile, Inc., Robotic Assistance Devices Lanka Pvt Limited, and Robotic Assistance Devices Residential, Inc..

All significant intercompany

accounts and transactions have been eliminated in consolidation.

The unaudited consolidated financial statements reflect all adjustments,

consisting of normal recurring accruals, which are, in the opinion of management, necessary for a fair presentation of such statements.

The results of operations for the nine months ended November 30, 2025 are not necessarily indicative of the results that may be expected

for the entire year.

order to prepare financial statements in conformity with accounting principles generally accepted in the United States, management must

10 unchanged sentences

Concentrations

August 31, 2025 there were $ 27,952,785 of loans payable, $ 26,666,006 or 95 % of these loans to companies controlled by one individual.

November 30, 2025 there were $ 27,795,672 of loans payable, $ 26,801,006 or 96 % of these loans to companies controlled by one individual.

At February 28, 2025 there were $ 32,801,345 loans payable, $ 28,581,506 or 87 % of these loans to companies controlled by one individual.

8 unchanged sentences

historical trends are evaluated, and specific customer issues are reviewed on a periodic basis to arrive at appropriate allowances.

was an allowance of $ 105,000 and $ 140,000 provided as of August 31, 2025 and February 28, 2025, respectively.

For the six months ended

August 31, 2025, two customers account for 41 % of total accounts receivable.

For the six months ended August 31, 2024, two customers

account for 55 % of total accounts receivable.

was an allowance of $ 175,000 and $ 140,000 provided as of November 30, 2025 and February 28, 2025, respectively.

For the three months

ended November 30, 2025, one customer accounted for 39 % of total accounts receivable.

For the three months ended November 30, 2024, one

customer accounted for 61 % of total accounts receivable.

Parts Inventory

6 unchanged sentences

is taken when factors that would result in a need for an increase in the valuation, such as excess or obsolete inventory, are noted.

As of August 31, 2025 and February 28, 2025 there was a valuation reserve of $ 465,000 and $ 465,000 , respectively.

As of November 30, 2025 and February 28, 2025 there was a valuation reserve of $ 465,000 and $ 465,000 , respectively.

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

6 unchanged sentences

The Company uses a

combination of the undiscounted cash flows and market approaches in assessing whether an asset has been impaired.

The Company measures

impairment losses based upon the amount by which the carrying amount of the asset exceeds the fair value.

combination of undiscounted cash flows and market approaches in assessing whether an asset has been impaired.

The Company measures impairment

losses based upon the amount by which the carrying amount of the asset exceeds the fair value.

assets are stated at cost.

5 unchanged sentences

SCHEDULE OF FIXED ASSETS STATED AT COST

Computer equipment and software

Office equipment

Manufacturing equipment

Warehouse equipment

Leasehold improvements

equipment and software

Manufacturing

years, the life of the lease

8 unchanged sentences

If all criteria are met, the costs are deferred and amortized over the expected useful life or written off if a product is abandoned.

At August 31, 2025 and February 28, 2025, the Company had no deferred development costs.

At November 30, 2025 and February 28, 2025, the Company had no deferred development costs.

Contingencies

7 unchanged sentences

about future events and can rely heavily on estimates and assumptions.

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

of Future Revenues

5 unchanged sentences

constitutes a sale of future revenues or debt:

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

the agreement purport, in substance, to be a sale

23 unchanged sentences

Refer to Note 4 – Revenue from Contracts with Customers for additional information.

For the six months

ended August 31, 2025 , one customer accounted for 47 % of total revenue.

For the six months ended August 31, 2024 , two customers accounted

for 67 % of total revenue.

For the nine months

ended November 30, 2025, one customer accounted for 57 % of total revenue and for the nine months ended November 30, 2024, one customer

accounted for 57 % of total revenue.

taxes are accounted for under the asset and liability method.

65 unchanged sentences

Value of Financial Instruments

Topic 820, Fair Value Measurements and Disclosures (“ASC Topic 820”) provides a framework for measuring

fair value in accordance with generally accepted accounting principles.

Topic 820, Fair Value Measurements and Disclosures (“ASC Topic 820”) provides a framework for measuring fair value

in accordance with generally accepted accounting principles.

Topic 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction

24 unchanged sentences

Fair Value Measurement Using

August 31, 2025

November 30, 2025

Investment at cost

3 unchanged sentences

Incentive compensation plan payable – revaluation of equity awards payable in Series G shares

the incentive compensation plan referred to above , the Company recorded stock based compensation of $ 0 and $ 0 for the three months ended

August 31, 2025 and February 28, 2025 with corresponding adjustments to incentive compensation plan payable

carrying amounts of the Company’s financial assets and liabilities, such as cash, accounts receivable, prepaid expenses and advances,

accounts payable and accrued expenses, approximate their fair values because of the short maturity of these instruments.

the incentive compensation plan (revaluation of equity awards payable in Series G shares) referred to above, the Company recorded stock

based compensation of $ 0 and $ 0 for the three months ended November 30, 2025 and February 28, 2025 with corresponding adjustments to

incentive compensation plan payable

carrying amounts of the Company’s financial assets and liabilities, such as cash, accounts receivable, prepaid expenses and

advances, accounts payable and accrued expenses, approximate their fair values because of the short maturity of these

(Loss) per Share

41 unchanged sentences

SCHEDULE OF REVENUES FROM CONTRACTS WITH CUSTOMERS

November 30, 2025

November 30, 2024

November 30, 2025

November 30, 2024

Device rental activities

10 unchanged sentences

a transfer of title or purchase option reasonably certain of exercise.

is a summary of our lease assets and liabilities at August 31, 2025 and February 28, 2025.

is a summary of our lease assets and liabilities at November 30, 2025 and February 28, 2025.

SCHEDULE OF LEASE ASSETS AND LIABILITIES

11 unchanged sentences

charges were not included in operating lease expense and were expensed in general and administrative expenses as incurred.

expense and operating lease cost was $ 62,578 and $ 120,797 for the three and six months ended August 31, 2025, respectively, and $ 62,967

and $ 124,980 for the three and six months ended August 31, 2024, respectively.

expense and operating lease cost was $ 61,295 and $ 182,092 for the three and nine months ended November 30, 2025, respectively, and $ 57,875

and $ 182,855 for the three and nine months ended November 30, 2024, respectively.

December 23, 2022 the Company entered into a Simple Agreement for Future Equity (SAFE) contract to invest $ 50,000 to acquire shares of

9 unchanged sentences

The Company values the Nightingale Intelligent Systems, Inc.’s shares and warrants

at $ 50,000 bringing total investments at cost to $ 100,000 at May 31, 2025.

at $ 50,000 bringing total investments at cost to $ 100,000 at November 30, 2025

REVENUE EARNING DEVICES

5 unchanged sentences

( 2,292,172 )

the three and six months ended August 31, 2025 the Company made total additions to revenue earning devices of $ 864,716 and $ 1,760,263 ,

the three and nine months ended November 30, 2025 the Company made total additions to revenue earning devices of $ 359,974 and $ 2,120,237

respectively, which were transfers from inventory.

During the three and six months ended August 31, 2024 the Company made total additions

During the three and nine months ended November 30, 2024 the Company made total additions

to revenue earning devices of $ 1,069,822 and $ 2,800,355 , respectively, which were transfers from inventory.

and amortization for the six months ended August 31, 2025, and August 31, 2024, are as follows:

and amortization for the three and nine months ended November 30, 2025 and 2024 are as follows:

SCHEDULE OF DEPRECIATION AND AMORTIZATION

Depreciation and Amortization

Three Months Ended

November 30, 2025

Three Months Ended

November 30, 2024

Nine Months Ended

November 30, 2025

Nine Months Ended

November 30, 2024

Cost of Goods Sold

Operating expenses

Total Depreciation and Amortization of Revenue Earning Devices

Total Depreciation and Amortization

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

10 unchanged sentences

Accumulated depreciation

Fixed assets, net of

accumulated depreciation

the three months ended August 31, 2025, the Company made additions of $ 9,738 of which $ 9,738 were transfers from inventory.

six months ended August 31, 2025, the Company made additions of $ 40,507 of which $ 32,085 were transfers from inventory with remaining

Fixed assets, net of accumulated depreciation

the three months ended November 30, 2025, the Company made additions of $ 14,309 of which $ 11,868 were transfers from inventory with remaining

additions of $ 2,441 .

During the three months ended August 31, 2024, the Company made additions of $ 22,097 of which $ 17,505 were transfers

During the nine months ended November 30, 2025, the Company made additions of $ 54,816 of which $ 43,953 were transfers

from inventory with remaining additions of $ 10,863 .

During the six months ended August 31, 2024, the Company made additions of $ 74,274

of which $ 50,550 were transfers from inventory with remaining additions of $ 23,724 .

and amortization for the six months ended August 31, 2025, and August 31, 2024, are as follows:

During the three months ended November 30, 2024, the Company made additions of $ 25,603 ,

all of which were transfers from inventory.

During the nine months ended November 30, 2024, the Company made additions of $ 99,877 of

which $ 76,153 were transfers from inventory with remaining additions of $ 23,724 .

and amortization for the three and nine months ended November 30, 2025 and 2024 are as follows:

SCHEDULE OF DEPRECIATION AND AMORTIZATION IN OPERATING EXPENSES

and Amortization

earning devices

Depreciation and Amortization

in operating expenses

November 30, 2025

November 30, 2024

November 30, 2025

November 30, 2024

Revenue earning devices

Total Depreciation and Amortization included in operating expenses

DEFERRED VARIABLE PAYMENT OBLIGATION

12 unchanged sentences

on the unpaid amount.

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

the event that at least 10% of the assets of the Company are sold by the Company, the investors would be entitled to the fair market

6 unchanged sentences

the share disposition price defined as the total price the third party paid for the shares plus the total value of all future Payments.

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

November 18, 2019, the Company entered into another similar arrangement with the (February 1, 2019) investor above whereby the investor

10 unchanged sentences

would advance up to $ 100,000 in exchange for a perpetual 1.00 % rate Payment on the Company’s quarterly Revenues.

At May 31, 2020,

the investor has fully funded this commitment.

11 unchanged sentences

for $ 900,000 , November 18, 2019 for $ 225,000 and July 1, 2020 for $ 800,000 into a new agreement for a total of $ 1,925,000 .

new agreement is for similar terms as the above agreements save for the following:

the rate payment is revised to 14.25 % payable on revenues

commencing the quarter ended August 31, 2020.

Upon an event of default that we are unable to cure in the time allotted under the agreements,

these Payments may be secured with a priority lien by UCC filing against all of our assets, but is subordinated to equipment financing

or leasing agreements on the products the Company leases to its customers.

This new agreement

is for similar terms as the above agreements save for the following:

the rate payment is revised to 14.25 % payable on revenues commencing

the quarter ended August 31, 2020.

Upon an event of default that we are unable to cure in the time allotted under the agreements, these

Payments may be secured with a priority lien by UCC filing against all of our assets but is subordinated to equipment financing or leasing

agreements on the products the Company leases to its customers.

summary of all agreements mentioned above if in the event that at least 10 % of the assets of the Company are sold by the Company, the

12 unchanged sentences

31, 2019, and accrue every quarter thereafter.

As of August 31, 2025, the Company has accrued $ 2,510,325 in Payments of which $ 1,315,265

As of November 30, 2025, the Company has accrued $ 2,837,536 in Payments of which $ 1,599,972

are in arrears.

4 unchanged sentences

asset disposition % (see below) was reduced from 31 % to 21 %

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

consideration for the above changes, the investor received 40 Series F Convertible Preferred Stock and a warrant to purchase 367 shares

5 unchanged sentences

debt with a corresponding adjustment to paid in capital.

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Company retains total involvement in the generation of cash flows from these revenue streams that form the basis of the payments to be

1 unchanged sentence

Because of this, the Company has determined that the agreements constitute debt agreements.

As of August 31, 2025, and February 28, 2025, the long-term balances other than Payments already owed is the cash received of $ 2,525,000

As of November 30, 2025, and February 28, 2025, the long-term balances other than Payments already owed is the cash received of $ 2,525,000

and $ 2,525,000 , respectively.

both the three months and six months ended August 31, 2025 and year ended February 28, 2025, the Company has received $ 0 related to the

deferred payment obligation since there were no new agreements during this period.

The balance remains $ 2,525,000 at both August 31,

both the three months and nine months ended November 30, 2025 and year ended February 28, 2025, the Company has received $ 0 related to

the deferred payment obligation since there were no new agreements during this period.

The balance remains $ 2,525,000 at both November

30, 2025 and February 28, 2025.

RELATED PARTY TRANSACTIONS

both the three months and six months ended August 31, 2025 and August 31, 2024 , the Company had no repayments of net advances from its

loan payable-related party.

At August 31, 2025 the loan payable-related party was $ 396,940 and $ 329,635 at February 28, 2025.

in the balance due to the related party at August 31, 2025 is $ 320,408 of deferred salary and interest, $ 225,013 of which bears interest

both the three months and nine months ended November 30, 2025 and November 30, 2024, the Company had no repayments of net advances from

its loan payable-related party.

At November 30, 2025, the loan payable-related party was $ 437,984 and $ 329,635 at February 28, 2025.

Included in the balance due to the related party at November 30, 2025 is $ 361,452 of deferred salary and interest, $ 239,600 of which

bears interest at 12 %.

As of February 28, 2025, included in the balance due to the related party is $ 252,833 of deferred salary and interest,

$ 190,013 of which bears interest at 12 %.

The accrued interest included in the loan at August 31, 2025, and February 28, 2025, was $ 63,501 , and

$ 51,575 , respectively.

the six months ended August 31, 2025, the Company paid out gross payments to the CEO of $ 1,504,917

The accrued interest included in the loan at November 30, 2025, and February 28, 2025, was $ 70,689 ,

and $ 51,575 , respectively.

the nine months ended November 30, 2025, the Company paid out gross payments to the CEO of $ 1,560,370

offset by a bonus accrual of $ 750,000 ,

1 unchanged sentence

relating to deferred compensation for CEO.

This was all in

accordance with a December 2023 board action allowing for $ 1

million of annual discretionary compensation as well as a February

This was all in accordance with a December 2023 board action allowing for $ 1

million of annual discretionary compensation as well as a February 28, 2025, board action which provided an additional $ 1.5

million in compensation.

The balance of deferred compensation for CEO was $ 1,392,230

and $ 2,202,600

at August 31, 2025, and February 28, 2025, respectively

the three and six months ended August 31, 2025, the Company accrued $ 0 (three and six months ended August 31 2024-$ 0 ) of incentive compensation

plan payable to the CEO .

This will be payable in Series G Preferred Shares which are redeemable at the Company’s option at $ 1,000

At August 31, 2025, and February 28, 2025, there was $ 4,000,000 and $ 4,000,000 of incentive compensation payable.

the three months ended August 31, 2025 and 2024, the Company was charged $ 598,277 and $ 777,260 , respectively for fees for research and

development from a company partially owned by a principal shareholder.

the six months ended August 31, 2025 and 2024, the Company was charged $ 1,335,152 and $ 1,289,830 , respectively for fees for research

at November 30, 2025, and February 28, 2025, respectively

the three and nine months ended November 30, 2025, the Company accrued $ 0 (three and nine months ended November 30, 2024-$ 0 ) of incentive

compensation plan payable to the CEO.

This would be payable in Series G Preferred Shares which are redeemable at the Company’s

option at $ 1,000 per share.

At November 30, 2025, and February 28, 2025, there was $ 4,000,000 and $ 4,000,000 of incentive compensation

the three months ended November 30, 2025, and 2024, the Company was charged $ 655,721 and $ 556,175 , respectively for fees for research

and development from a company partially owned by a principal shareholder.

the nine months ended November 30, 2025, and 2024, the Company was charged $ 1,990,873 and $ 1,846,005 , respectively for fees for research

and development from a company partially owned by a principal shareholder.

The principal shareholder received no compensation from this

partially owned research and development company and the fees were spent on core development projects.

As at both August 31, 2025, and

February 28, 2025, the balance due to this company was $ 160,557 and $ 76,532 , respectively.

As at both November 30, 2025,

and February 28, 2025, the balance due to this company was $ 76,532 .

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

1 unchanged sentence

LOANS PAYABLE

payable at August 31, 2025 consisted of the following:

payable at November 30, 2025 consisted of the following:

SCHEDULE OF LOANS PAYABLE

Interest Rate

July 18, 2016

98 unchanged sentences

Future Receivables Purchase and Sale Agreement

September 25, 2025

September 25, 2026

Promissory note

November 6, 2025

November 6, 2026

Promissory note

November 24, 2025

November 24, 2026

Promissory note

current portion of loans payable

10 unchanged sentences

promissory note was issued as part of a debt settlement whereby $ 2,683,357 in convertible notes and associated accrued interest of

totaling $ 3,921,168 was exchanged for this promissory note of $ 3,921,168 , and a warrant to purchase 450,000,000 shares at an exercise

price of $ .002 per share and a three-year maturity having a relative fair value of $ 990,000 .

This note is secured by a general security

charging all of the Company’s present and after-acquired property.

On November 28, 2023, the parties extended the maturity date

from December 10, 2023, to March 1, 2025, with all other terms and conditions remaining the same .

On April 16, 2025, the parties again

extended the maturity date from March 1, 2025, to March 1, 2027, with all other terms and conditions remaining the same .

$ 1,237,811 totaling $ 3,921,168 was exchanged for this promissory note of $ 3,921,168 , and a warrant to purchase 450,000,000 shares

at an exercise price of $ .002 per share and a three-year maturity having a relative fair value of $ 990,000 .

This note is secured

by a general security charging all of the Company’s present and after-acquired property.

On November 28, 2023, the parties

extended the maturity date from December 10, 2023, to March 1, 2025, with all other terms and conditions remaining the same.

16, 2025, the parties again extended the maturity date from March 1, 2025, to March 1, 2027, with all other terms and conditions

remaining the same.

promissory note was issued as part of a debt settlement whereby $ 1,460,794 in convertible notes and associated accrued interest of

totaling $ 3,054,338 was exchanged for this promissory note of $ 3,054,338 , and a warrant to purchase 250,000,000 shares at an exercise

price of $ 0.002 per share and a three-year maturity having a relative fair value of $ 550,000 .

This note is secured by a general security

charging all of the Company’s present and after-acquired property.

$ 300,000 has been repaid during the year ended February 29,

On November 28, 2023, the parties extended the maturity date from December 10, 2023, to March 1, 2025, with all other terms and

conditions remaining the same .

On April 16, 2025, the parties again extended the maturity date from March 1, 2025, to March 1, 2027,

$ 1,593,544 totaling $ 3,054,338 was exchanged for this promissory note of $ 3,054,338 , and a warrant to purchase 250,000,000 shares

at an exercise price of $ 0.002 per share and a three-year maturity having a relative fair value of $ 550,000 .

This note is secured

by a general security charging all of the Company’s present and after-acquired property.

$ 300,000 has been repaid during the

year ended February 29, 2024.

On November 28, 2023, the parties extended the maturity date from December 10, 2023, to March 1, 2025,

with all other terms and conditions remaining the same.

On April 16, 2025, the parties again extended the maturity date from March

1, 2025, to March 1, 2027, with all other terms and conditions remaining the same.

promissory note was issued as part of a debt settlement whereby $ 103,180 in convertible notes and associated accrued interest of

totaling $ 165,605 was exchanged for this promissory note of $ 165,605 , and a warrant to purchase 80,000,000 shares at an exercise price

of $ .002 per share and a three-year maturity having a fair value of $ 176,000 .

The maturity date was extended from December 10, 2023 to

December 10, 2024 on February 29, 2024 and a fee of $ 22,958 was paid and charged to interest expense .

$ 62,425 totaling $ 165,605 was exchanged for this promissory note of $ 165,605 , and a warrant to purchase 80,000,000 shares at an exercise

price of $ .002 per share and a three-year maturity having a fair value of $ 176,000 .

The maturity date was extended from December 10,

2023 to December 10, 2024 on February 29, 2024 and a fee of $ 22,958 was paid and charged to interest expense.

The note is in default.

have been sent.

No notices have been sent.

promissory note was issued as part of a debt settlement whereby $ 235,000 in convertible notes and associated accrued interest of

totaling $ 310,375 was exchanged for this promissory note of $ 310,375 , and a warrant to purchase 25,000,000 shares at an exercise price

of $ .002 per share and a three-year maturity having a fair value of $ 182,500 .

$ 75,375 totaling $ 310,375 was exchanged for this promissory note of $ 310,375 , and a warrant to purchase 25,000,000 shares at an exercise

price of $ .002 per share and a three-year maturity having a fair value of $ 182,500 .

note, with an original principal amount of $ 350,000 , may be pre-payable at any time.

The note balance includes an original issue discount

of $ 35,000 and was issued with a warrant to purchase 50,000,000 shares at an exercise price of $ 0.025 per share with a 3 -year term and

having a relative fair value of $ 271,250 .

The note balance includes an original issue

discount of $ 35,000 and was issued with a warrant to purchase 50,000,000 shares at an exercise price of $ 0.025 per share with a 3 -year

term and having a relative fair value of $ 271,250 .

The discounts are being amortized over the term of the loan.

After allocating these charges

to debt and equity according to their respective values, a debt discount of $ 271,250 with a corresponding adjustment to paid in capital

for the relative fair value of the warrant.

On March 1, 2024, the unamortized relative fair value discount of $ 65,092 was removed with

a corresponding adjustment to accumulated deficit.

After allocating

these charges to debt and equity according to their respective values, a debt discount of $ 271,250 with a corresponding adjustment

to paid in capital for the relative fair value of the warrant.

On March 1, 2024, the unamortized relative fair value discount of

$ 65,092 was removed with a corresponding adjustment to accumulated deficit.

A $ 8,399 unamortized discount remained.

O n November 28, 2023, the parties extended

the maturity date from December 10, 2023, to March 1, 2025, with all other terms and conditions remaining the same .

On April 16, 2025,

the parties again extended the maturity date from March 1, 2025, to March 1, 2027, with all other terms and conditions remaining the

For the six months ended August 31, 2025 , the Company recorded amortization expense of $ 138 , with an unamortized

discount of $ 0 at August 31, 2025.The loan is fully amortized.

On November 28,

2023, the parties extended the maturity date from December 10, 2023, to March 1, 2025, with all other terms and conditions remaining

On April 16, 2025, the parties again extended the maturity date from March 1, 2025, to March 1, 2027, with all other terms

and conditions remaining the same.

For the nine months ended November 30, 2025, the Company recorded amortization expense of $ 138 ,

with an unamortized discount of $ 0 at November 30, 2025.The loan is fully amortized.

promissory note was issued as part of a debt settlement whereby $ 9,200 in convertible notes and associated accrued interest of $ 6,944

totaling $ 16,144 was exchanged for this promissory note of $ 25,000 .

This note is secured by a general security charging all of the Company’s

present and after-acquired property.

On November 28, 2023, the parties extended the maturity date from January 1, 2024, to March 1, 2025,

with all other terms and conditions remaining the same .

On April 16, 2025, the parties again extended the maturity date from March 1,

This note is secured by a general security charging all of the

Company’s present and after-acquired property.

On November 28, 2023, the parties extended the maturity date from January 1,

2024, to March 1, 2025, with all other terms and conditions remaining the same.

On April 16, 2025, the parties again extended the

maturity date from March 1, 2025, to March 1, 2027, with all other terms and conditions remaining the same.

promissory note was issued as part of a debt settlement whereby $ 79,500 in convertible notes and associated accrued interest of $ 28,925

8 unchanged sentences

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

The note, with an original

principal amount of $ 550,000 , may be pre-payable at any time.

The note balance includes an original issue discount of $ 250,000 and

was issued with a warrant to purchase 50,000,000 shares at an exercise price of $ 0.025 per share with a 3 -year term and having a

relative fair value of $ 380,174 .

note, with an original principal amount of $ 550,000 , may be pre-payable at any time.

The note balance includes an original issue

discount of $ 250,000 and was issued with a warrant to purchase 50,000,000 shares at an exercise price of $ 0.025 per share with a

3 -year term and having a relative fair value of $ 380,174 .

The discounts are being amortized over the term of the loan.

After allocating these charges to debt

and equity according to their respective values, a debt discount of $ 380,174 with a corresponding adjustment to paid in capital.

On March 1, 2024, the unamortized relative fair value discount of $ 80,284 was removed with a corresponding adjustment to accumulated

After allocating

these charges to debt and equity according to their respective values, a debt discount of $ 380,174 with a corresponding adjustment

to paid in capital.

On March 1, 2024, the unamortized relative fair value discount of $ 80,284 was removed with a corresponding adjustment

to accumulated deficit.

A $ 10,559 unamortized discount remained.

On November 28, 2023, the parties extended the maturity date from January 14, 2024,

to March 1, 2025, with all other terms and Conditions remaining the same .

On April 16, 2025, the parties again extended the maturity

date from March 1, 2025, to March 1, 2027, with all other terms and conditions remaining the same .

For the six months ended August

31, 2025 , the Company recorded amortization expense of $ 144 , with an unamortized discount of $ 0 at August 31, 2025.The loan is fully

On February 11, 2025, the Company repaid $ 162,000 through the issuance of 60,000,000 common shares.

The remaining

$ 388,000 in loan principal as well as $ 35,500 in accrued interest ( all totaling $ 425,500 ) was repaid on March 5, 2025 through the

issuance of 185,000,000 common shares.

The note, with an original

principal balance of $ 1,650,000 , may be pre-payable at any time.

The note balance includes an original issue discount of $ 150,000

and was issued with a warrant to purchase 100,000,000 shares at an exercise price of $ 0.135 per share with a 3 -year term and having

a relative fair value of $ 1,342,857 .

On November 28, 2023, the parties extended the maturity date from

January 14, 2024, to March 1, 2025, with all other terms and Conditions remaining the same.

On April 16, 2025, the parties again

extended the maturity date from March 1, 2025, to March 1, 2027, with all other terms and conditions remaining the same.

nine months ended November 30, 2025, the Company recorded amortization expense of $ 144 , with an unamortized discount of $ 0 at November

30, 2025.The loan is fully amortized.

On February 11, 2025, the Company repaid $ 162,000 through the issuance of 60,000,000 common

The remaining $ 388,000 in loan principal as well as $ 35,500 in accrued interest ( all totaling $ 425,500 ) was repaid on March

5, 2025 through the issuance of 185,000,000 common shares.

note, with an original principal balance of $ 1,650,000 , may be pre-payable at any time.

The note balance includes an original issue

discount of $ 150,000 and was issued with a warrant to purchase 100,000,000 shares at an exercise price of $ 0.135 per share with a

3 -year term and having a relative fair value of $ 1,342,857 .

The discount and warrant are being amortized over the term of the loan.

After allocating these

charges to debt and equity according to their respective values, a debt discount of $ 1,342,857 with a corresponding adjustment to

paid in capital for the relative fair value of the warrant.

The maturity date was extended from February 22, 2022, to February 22,

2024, on February 28, 2022, in exchange for warrants to purchase 50,000,000 at an exercise price of $ .0164 and a 3 -year term.

warrants have a fair value of $ 950,000 recorded as interest expense with a corresponding adjustment to paid in capital recorded in

the year ended February 28, 2022.

On November 28, 2023, the parties extended the maturity date from February 22, 2024, to March 1,

2025, with all other terms and conditions remaining the same .

On March 1, 2024, the unamortized relative fair value discount of $ 497,614

was removed with a corresponding adjustment to accumulated deficit.

After allocating these charges to debt and equity according to their respective values, a debt discount of $ 1,342,857 with a corresponding

adjustment to paid in capital for the relative fair value of the warrant.

The maturity date was extended from February 22, 2022,

to February 22, 2024, on February 28, 2022, in exchange for warrants to purchase 50,000,000 at an exercise price of $ .0164 and a

3 -year term.

These warrants have a fair value of $ 950,000 recorded as interest expense with a corresponding adjustment to paid in

capital recorded in the year ended February 28, 2022.

On November 28, 2023, the parties extended the maturity date from February

22, 2024, to March 1, 2025, with all other terms and conditions remaining the same.

On March 1, 2024, the unamortized relative fair

value discount of $ 497,614 was removed with a corresponding adjustment to accumulated deficit.

A $ 55,585 unamortized discount remained.

On April 16, 2025, the

parties again extended the maturity date from March 1, 2025, to March 1, 2027, with all other terms and conditions remaining the

For the six months ended August 31, 2025, the Company recorded amortization expense of $ 700 , with an unamortized discount of

$ 0 at August 31, 2025.

On April 16, 2025, the parties again extended the maturity date from March 1, 2025, to March 1, 2027, with all other terms and conditions

remaining the same.

For the nine months ended November 30, 2025, the Company recorded amortization expense of $ 700 , with an unamortized

discount of $ 0 at November 30, 2025.

The loan is fully amortized.

The unsecured note may

be pre-payable at any time.

Cash proceeds of $ 5,400,000 were received.

The note balance of $ 6,000,000 includes an original issue

discount of $ 600,000 and was issued with a warrant to purchase 300,000,000 shares at an exercise price of $ 0.135 per share with a

3 -year term and having a relative fair value of $ 4,749,005 using Black-Scholes with assumptions described in note 13.

The discounts

are being amortized over the term of the loan.

After allocating these charges to debt and equity according to their respective values,

a debt discount of $ 4,749,005 with a corresponding adjustment to paid in capital for the relative value of the warrant.

was extended from March 1, 2022 to March 1, 2024 on February 28, 2022 in exchange for warrants to purchase 150,000,000 shares of

common stock at an exercise price of $ .0164 and a 3 year term.

These warrants have a fair value of $ 2,850,000 recorded as interest

expense with a corresponding adjustment to paid in capital recorded in the year ended February 28, 2022.

This note has been fully

unsecured note may be pre-payable at any time.

Cash proceeds of $ 5,400,000

were received.

The note balance of $ 6,000,000

includes an original issue discount of $ 600,000

and was issued with a warrant to purchase 300,000,000

shares at an exercise price of $ 0.135

per share with a 3 -year

term and having a relative fair value of $ 4,749,005

using Black-Scholes with assumptions described in note 13.

The discounts are being amortized over the term of the loan.

allocating these charges to debt and equity according to their respective values, a debt discount of $ 4,749,005

with a corresponding adjustment to paid in capital for the relative value of the warrant.

The maturity was extended from March 1,

2022 to March 1, 2024 on February 28, 2022 in exchange for warrants to purchase 150,000,000

shares of common stock at an exercise price of $ .0164

These warrants have a fair value of $ 2,850,000

recorded as interest expense with a corresponding adjustment to paid in capital recorded in the year ended February 28, 2022.

note has been fully amortized.

This note was again extended to March 1, 2025.

On April 16, 2025, the parties again extended the maturity date from March

1, 2025, to March 1, 2027, with all other terms and conditions remaining the same .

For the six months ended August 31,

2025 , the Company has issued 1,750,000,000 common shares to repay $ 2,075,000 in loan principal.

The note, with an original

principal balance of $ 2,750,000 , may be pre-payable at any time.

The note balance includes an original issue discount of $ 50,000

and was issued with a warrant to purchase 170,000,000 shares at an exercise price of $ 0.064 per share with a 3 -year term and having

a relative fair value of $ 2,035,033 .

April 16, 2025, the parties again extended the maturity date from March 1, 2025, to March 1, 2027, with all other terms and

conditions remaining the same.

For the nine months ended November 30, 2025, the Company has issued 3,835,000,000

common shares at fair market value of $ 4,470,500

to repay $ 3,840,500

in loan principal with a loss on settlement of debt of $ 630,000 .

note, with an original principal balance of $ 2,750,000 , may be pre-payable at any time.

The note balance includes an original issue

discount of $ 50,000 and was issued with a warrant to purchase 170,000,000 shares at an exercise price of $ 0.064 per share with a

3 -year term and having a relative fair value of $ 2,035,033 .

The discounts are being amortized over the term of the loan.

After allocating these charges

to debt and equity according to their respective values, a debt discount of $ 2,035,033 with a corresponding adjustment to paid in

The maturity date was extended from June 8, 2022 to June 8, 2024 on February 28, 2022 in exchange for warrants to purchase

85,000,000 at an exercise price of $ .0164 and a 3 year term.

These warrants have a fair value of $ 1,615,000 recorded as interest

expense with a corresponding adjustment to paid in capital recorded in the year ended February 28, 2022.

This note was extended to

June 8, 2025.

On March 1, 2024, the unamortized relative fair value discount of $ 33,547 was removed with a corresponding adjustment

to accumulated deficit.

After allocating

these charges to debt and equity according to their respective values, a debt discount of $ 2,035,033 with a corresponding adjustment

to paid in capital.

The maturity date was extended from June 8, 2022 to June 8, 2024 on February 28, 2022 in exchange for warrants

to purchase 85,000,000 at an exercise price of $ .0164 and a 3 year term.

These warrants have a fair value of $ 1,615,000 recorded

as interest expense with a corresponding adjustment to paid in capital recorded in the year ended February 28, 2022.

This note was

extended to June 8, 2025.

On March 1, 2024, the unamortized relative fair value discount of $ 33,547 was removed with a corresponding

adjustment to accumulated deficit.

A $ 4,121 unamortized discount remained.

For the six months ended August 31, 2025, the Company recorded amortization

expense of $ 964 , with an unamortized discount of $ 0 at August 31, 2025.

The loan is fully amortized On April 16, 2025, the

parties again extended the maturity date from June 8, 2025, to June 8, 2027, with all other terms and conditions remaining the same .

For the six months ended August 31, 2025, the Company

recorded amortization expense of $ 964 , with an unamortized discount of $ 0 at August 31, 2025.

The loan is fully amortized On April

16, 2025, the parties again extended the maturity date from June 8, 2025, to June 8, 2027, with all other terms and conditions remaining

INTELLIGENCE TECHNOLOGY

SOLUTIONS INC.

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

loan, with an original principal balance of $ 4,000,160 , was in exchange for 184 Series F preferred shares from a former director.

interest and principal are payable at maturity.

The interest and principal are payable at maturity.

The loan is unsecured.

1 unchanged sentence

repaid $ 420,000 as part of a settlement with the estate of the lender.

A settlement agreement was entered into on April 25,2025 between

the Company and the Estate of the lender whereby the Company will repay a total of $ 420,000 to fully discharge the outstanding loan balance

and accrued interest which totaled $ 4,790,185 ..

A settlement agreement was entered into on April 25,2025

between the Company and the Estate of the lender whereby the Company will repay a total of $ 420,000 to fully discharge the outstanding

loan balance and accrued interest which totaled $ 4,790,185 .

This settlement agreement was approved by the court on June 5, 2025.

Upon settlement

in August 2025, the Company recorded a gain on settlement of debt of $ 4,370,185 .

At August 31, 2025 the outstanding principal and interest

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

The note, with

an original principal balance of $ 1,650,000 , may be pre-payable at any time.

The note balance includes an original issue discount

of $ 150,000 and was issued with a warrant to purchase 250,000,000 shares at an exercise price of $ 0.037 per share with a 3 -year term

and having a relative fair value of $ 1,284,783 , The discounts are being amortized over the term of the loan.

After allocating these

charges to debt and equity according to their respective values, a debt discount of $ 1,284,783 with a corresponding adjustment to

paid in capital.

Upon settlement in August 2025, the Company recorded a gain on settlement of debt of $ 4,370,185 .

At August 31, 2025 the outstanding

principal and interest was $ 0 .

note, with an original principal balance of $ 1,650,000 , may be pre-payable at any time.

The note balance includes an original issue

discount of $ 150,000 and was issued with a warrant to purchase 250,000,000 shares at an exercise price of $ 0.037 per share with a

3 -year term and having a relative fair value of $ 1,284,783 , The discounts are being amortized over the term of the loan.

After allocating

these charges to debt and equity according to their respective values, a debt discount of $ 1,284,783 with a corresponding adjustment

to paid in capital.

On March 1, 2024, the unamortized relative fair value discount of $ 572,549 was removed with a corresponding adjustment

1 unchanged sentence

A $ 66,846 unamortized discount remained.

For the six months ended August 31, 2025, the Company recorded amortization

expense of $ 4,170 , with an unamortized discount of $ 21,011 at August 31, 2025.

O n April 16, 2025, the parties again extended the

maturity date from September 14, 2025, to September 14, 2027, with all other terms and conditions remaining the same .

Original $ 170,000 note

may be pre-payable at any time.

For the nine months ended November 30, 2025, the Company recorded

amortization expense of $ 6,476 , with an unamortized discount of $ 18,705 at November 30, 2025.

On April 16, 2025, the parties again

extended the maturity date from September 14, 2025, to September 14, 2027, with all other terms and conditions remaining the same.

$ 170,000 note may be pre-payable at any time.

The note balance includes an original issue discount of $ 20,000 .

Principal and interest due at maturity.

Principal and interest

due at maturity.

Secured by a general security charging all of RAD’s present and after-acquired property.

On November 29, 2023, the parties

extended the maturity date from July 28, 2023, to March 1, 2025, with all other terms and conditions remaining the same .

has been fully amortized.

On April 16, 2025, the parties again extended the maturity date from March 1, 2025, to March 1, 2027, with

all other terms and conditions remaining the same .

A warrant holder exchanged

955,000,000 warrants for a promissory note of $ 3,000,000 , bearing interest at 15 % with a two year maturity.

The fair value of the

warrants was determined to be $ 2,960,500 with a corresponding adjustment to paid-in capital and a debt discount of $ 39,500 which

will be amortized over the term of the loan.

Principal and interest due at maturity.

On March 1, 2024, the unamortized relative fair

value discount of $ 11,535 was removed with a corresponding adjustment to accumulated deficit.

On November 29, 2023,

the parties extended the maturity date from July 28, 2023, to March 1, 2025, with all other terms and conditions remaining the same.

This note has been fully amortized.

On April 16, 2025, the parties again extended the maturity date from March 1, 2025, to March

1, 2027, with all other terms and conditions remaining the same.

warrant holder exchanged 955,000,000 warrants for a promissory note of $ 3,000,000 , bearing interest at 15 % with a two year maturity.

The fair value of the warrants was determined to be $ 2,960,500 with a corresponding adjustment to paid-in capital and a debt discount

of $ 39,500 which will be amortized over the term of the loan.

Principal and interest due at maturity.

On March 1, 2024, the unamortized

relative fair value discount of $ 11,535 was removed with a corresponding adjustment to accumulated deficit.

This note has been fully

This note was extended to August 30, 2025.

1 unchanged sentence

30, 2025, to August 30, 2027, with all other terms and conditions remaining the same.

Original $ 400,000 note

may be pre-payable at any time.

$ 400,000 note may be pre-payable at any time.

The note balance includes an original issue discount of $ 50,000 .

Principal and interest due at maturity.

Principal and interest

due at maturity.

Secured by a general security charging all of RAD’s present and after-acquired property.

On November 29, 2023, the parties

extended the maturity date from September 7, 2023, to March 1, 2025, with all other terms and conditions remaining the same .

note has been fully amortized.

On April 16, 2025, the parties again extended the maturity date from March 1, 2025, to March 1, 2027,

with all other terms and conditions remaining the same .

Original $ 475,000 note

may be pre-payable at any time.

On November 29, 2023,

the parties extended the maturity date from September 7, 2023, to March 1, 2025, with all other terms and conditions remaining the

This note has been fully amortized.

On April 16, 2025, the parties again extended the maturity date from March 1, 2025, to

March 1, 2027, with all other terms and conditions remaining the same.

$ 475,000 note may be pre-payable at any time.

The note balance includes an original issue discount of $ 75,000 .

Principal and interest due at maturity.

Principal and interest

due at maturity.

Secured by a general security charging all of RAD’s present and after-acquired property.

On November 29, 2023, the parties

extended the maturity date from September 8, 2023, to March 1, 2025, with all other terms and conditions remaining the same .

note has been fully amortized.

On April 16, 2025, the parties again extended the maturity date from March 1, 2025, to March 1, 2027,

with all other terms and conditions remaining the same .

Original $ 350,000 note

may be pre-payable at any time.

On November 29, 2023,

the parties extended the maturity date from September 8, 2023, to March 1, 2025, with all other terms and conditions remaining the

This note has been fully amortized.

On April 16, 2025, the parties again extended the maturity date from March 1, 2025, to

March 1, 2027, with all other terms and conditions remaining the same.

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

$ 350,000 note may be pre-payable at any time.

The note balance includes an original issue discount of $ 50,000 .

Principal and interest due at maturity.

Principal and interest

due at maturity.

Secured by a general security charging all of the Company’s present and after-acquired property.

On November 29, 2023, the

parties extended the maturity date from October 13, 2023, to March 1, 2025, with all other terms and conditions remaining the same .

29, 2023, the parties extended the maturity date from October 13, 2023, to March 1, 2025, with all other terms and conditions remaining

This note has been fully amortized.

On April 16, 2025, the parties again extended the maturity date from March 1, 2025, to March

1, 2027, with all other terms and conditions remaining the same .

October 28, 2022, the Company entered into an loan facility with a lender for up to $ 4,000,000 including an original issue discount of

In exchange the Company will issue one series F Preferred Share, extended 329 series F warrants with a March 1, 2026 maturity

to a new October 31, 2033 maturity, and issue up to 10 tranches with each tranche of $ 400,000 , with cash proceeds of $ 350,000 an original

issue discount of $ 50,000 , October 31, 2026 maturity, and 61 Series F warrants with a October 31, 2033 maturity.

Secured by a general

security charging all of the Company’s present and after-acquired property.

At February 29, 2024 the Company has issued all 10

tranches totaling $ 4,000,000 as follows:

October 28, 2022, $ 400,000

loan, original issue discount of $ 50,000 , 61 Series F Preferred Share warrants and 1 Series F Preferred Share having a relative fair

value of $ 299,399 .

On March 1, 2024, the unamortized relative fair value discount of $ 286,775 was removed with a corresponding adjustment

to accumulated deficit.

On April 16, 2025, the parties again extended the maturity date from March 1, 2025,

to March 1, 2027, with all other terms and conditions remaining the same.

October 28, 2022, the Company entered into an loan facility with a lender for up to $ 4,000,000 including an original issue discount

of $ 500,000 .

In exchange the Company will issue one series F Preferred Share, extended 329 series F warrants with a March 1, 2026

maturity to a new October 31, 2033 maturity, and issue up to 10 tranches with each tranche of $ 400,000 , with cash proceeds of $ 350,000

an original issue discount of $ 50,000 , October 31, 2026 maturity, and 61 Series F warrants with a October 31, 2033 maturity.

by a general security charging all of the Company’s present and after-acquired property.

At February 29, 2024 the Company has

issued all 10 tranches totaling $ 4,000,000 as follows:

28, 2022, $ 400,000 loan, original issue discount of $ 50,000 , 61 Series F Preferred Share warrants and 1 Series F Preferred Share

having a relative fair value of $ 299,399 .

On March 1, 2024, the unamortized relative fair value discount of $ 286,775 was removed

with a corresponding adjustment to accumulated deficit.

A $ 47,892 unamortized discount remained.

For the six months ended August 31, 2025, the Company recorded amortization

expense of $ 8,769 , with an unamortized discount of $ 24,142 at August 31, 2025.

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

For the nine months ended November

30, 2025, the Company recorded amortization expense of $ 13,502 , with an unamortized discount of $ 19,409 at November 30, 2025.

9, 2022, $ 400,000 loan, original issue discount of $ 50,000 , 61 Series F Preferred Share warrants having a relative fair value of $ 299,750 .

On March 1, 2024, the unamortized relative fair value discount of $ 288,513 was removed with a corresponding adjustment

to accumulated deficit.

On March 1, 2024, the unamortized relative fair value discount of $ 288,513 was removed with a corresponding adjustment to accumulated

A $ 48,126 unamortized discount remained.

For the six months ended August 31, 2025, the Company recorded amortization

expense of $ 8,811 , with an unamortized discount of $ 24,264 at August 31, 2025.

For the nine months ended November 30, 2025, the Company recorded amortization expense

of $ 13,567 , with an unamortized discount of $ 19,508 at November 30, 2025.

10, 2022, $ 400,000 loan, original issue discount of $ 50,000 , 61 Series F Preferred Share warrants having a relative fair value of $ 302,020 .

1 unchanged sentence

A $ 48,290 unamortized discount remained.

For the six months ended August 31, 2025, the Company recorded amortization expense

of $ 8,841 , with an unamortized discount of $ 28,443 at August 31, 2025.

For the nine months ended November 30, 2025, the Company recorded amortization expense

of $ 13,613 , with an unamortized discount of $ 23,671 at November 30, 2025.

15, 2022, $ 400,000 loan, original issue discount of $ 50,000 , 61 Series F Preferred Share warrants having a relative fair value of $ 299,959 .

1 unchanged sentence

A $ 47,976 unamortized discount remained.

For the six months ended August 31, 2025, the Company recorded amortization expense

of $ 8,784 , with an unamortized discount of $ 24,187 at August 31, 2025.

For the nine months ended November 30, 2025, the Company recorded amortization expense

of $ 13,525 , with an unamortized discount of $ 19,446 at November 30, 2025.

11, 2023, $ 400,000 loan, original issue discount of $ 50,000 , 61 Series F Preferred Share warrants having a relative fair value of $ 299,959 .

1 unchanged sentence

A $ 48,124 unamortized discount remained.

For the six months ended August 31, 2025, the Company recorded amortization expense

of $ 8,811 , with an unamortized discount of $ 24,264 at August 31, 2025.

For the nine months ended November 30, 2025, the Company recorded amortization expense

of $ 13,567 , with an unamortized discount of $ 19,508 at November 30, 2025.

6, 2023, $ 400,000 loan, original issue discount of $ 50,000 , 61 Series F Preferred Share warrants having a relative fair value of $ 299,959 .

1 unchanged sentence

A $ 48,294 unamortized discount remained.

For the six months ended August 31, 2025, the Company recorded amortization expense

of $ 8,842 , with an unamortized discount of $ 24,353 at August 31, 2025.

For the nine months ended November 30, 2025, the Company recorded amortization expense

of $ 13,614 , with an unamortized discount of $ 19,581 at November 30, 2025.

5, 2023, $ 400,000 loan, original issue discount of $ 50,000 , 61 Series F Preferred Share warrants having a relative fair value of $ 296,245 .

1 unchanged sentence

A $ 48,409 unamortized discount remained.

For the six months ended August 31, 2025, the Company recorded amortization expense

of $ 8,862 , with an unamortized discount of $ 24,414 at August 31, 2025.

For the nine months ended November 30, 2025, the Company recorded amortization expense

of $ 13,647 , with an unamortized discount of $ 19,630 at November 30, 2025.

20, 2023, $ 400,000 loan, original issue discount of $ 50,000 , 61 Series F Preferred Share warrants having a relative fair value of $ 302,219 .

1 unchanged sentence

A $ 48,777 unamortized discount remained.

For the six months ended August 31, 2025, the Company recorded amortization expense

of $ 8,929 , with an unamortized discount of $ 24,607 at August 31, 2025.

For the nine months ended November 30, 2025, the Company recorded amortization expense

of $ 13,749 , with an unamortized discount of $ 19,786 at November 30, 2025.

11, 2023, $ 400,000 loan, original issue discount of $ 50,000 , 61 Series F Preferred Share warrants having a relative fair value of $ 348,983 .

1 unchanged sentence

A $ 49,978 unamortized discount remained.

For the six months ended August 31, 2025, the Company recorded amortization expense

of $ 9,145 , with an unamortized discount of $ 25,239 at August 31, 2025.

For the nine months ended November 30, 2025, the Company recorded amortization expense

of $ 14,085 , with an unamortized discount of $ 20,299 at November 30, 2025.

27 2023, $ 400,000 loan, original issue discount of $ 50,000 , 61 Series F Preferred Share warrants having a relative fair value of $ 261,759 .

1 unchanged sentence

A $ 48,611 unamortized discount remained.

For the three months ended August 31, 2025, the Company recorded amortization expense

of $ 8,899 , with an unamortized discount of $ 24,520 at August 31, 2025.

For the nine months ended November 30, 2025, the Company recorded amortization expense

of $ 13,703 , with an unamortized discount of $ 19,715 at November 30, 2025.

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

November 30, 2023, the Company entered into an agreement where the lender will pay the Company $ 350,000 in exchange for thirteen future

monthly payments of $36,750 commencing on April 30,2024 through to April 30, 2025 totaling $ 477,750 .

The effective interest rate is 35 %

November 30, 2023, the Company entered into an agreement where the lender will pay the Company $ 350,000 in exchange for thirteen

future monthly payments of $36,750 commencing on April 30,2024 through to April 30, 2025 totaling $ 477,750 .

The effective interest

rate is 35 % per annum.

Secured by a general security charging all of RAD’s present and after-acquired property.

Default rate of 15 % per annum

calculated daily on any missed monthly payment and after maturity.

The Company has repaid $ 147,000 and $ 53,000 in accrued interest in

July to account for the missed April through to August 2024 payments in agreement with the lender.

The Company have missed the subsequent

monthly payments.

On April 16, 2025, the parties again extended the maturity date from April 30, 2025, to April 30, 2026, with all other

terms and conditions remaining the same .

March 8, 2024, the Company entered into another agreement where the lender will pay the Company $ 350,000 in exchange for thirteen future

monthly payments of $36,750 commencing on August 8, 2024 through to August 8, 2025 totaling $ 477,750 .

The effective interest rate is

35 % per annum.

of 15 % per annum calculated daily on any missed monthly payment and after maturity.

The Company has repaid $ 147,000 and $ 53,000 in

accrued interest in July to account for the missed April through to August 2024 payments in agreement with the lender.

have missed the subsequent monthly payments.

On April 16, 2025, the parties again extended the maturity date from April 30, 2025,

to April 30, 2026, with all other terms and conditions remaining the same.

March 8, 2024, the Company entered into another agreement where the lender will pay the Company $ 350,000 in exchange for thirteen

future monthly payments of $36,750 commencing on August 8, 2024 through to August 8, 2025 totaling $ 477,750 .

The effective interest

rate is 35 % per annum.

Secured by a general security charging all of RAD’s present and after- acquired property.

Default rate of 15 % per

annum calculated daily on any missed monthly payment and after maturity.

The August 2024 through to August 2025 payments have

not been made but will be resolved with the lender and the note was not repaid at maturity.

of 15 % per annum calculated daily on any missed monthly payment and after maturity.

The August 2024 through to August 2025 payments

have not been made but will be resolved with the lender and the note was not repaid at maturity.

The Company believes it will re-negotiate

6 unchanged sentences

Secured by a general security charging all of RAD’s present and after-acquired property.

The discount was expensed.

The discount was

$ 245,000 note may be pre-payable at any time.

3 unchanged sentences

Secured by a general security charging all of RAD’s present and after-acquired property.

The discount was expensed.

The discount was

$ 137,500 note may be pre-payable at any time.

3 unchanged sentences

Secured by a general security charging all of RAD’s present and after-acquired property.

The discount was expensed.

August 25, 2025, the Company entered into Future Receivables Purchase and Sale Agreement secured by a general security charging

all of RAD’s present and after- acquired property.

The Company received net proceeds of $ 555,671 after fees of $ 29,329 and a financing

fee of $ 222,300 for total fees of $ 251,629 .

The Company must repay $ 807,300 , in weekly payments of 7 % of estimated receipts from accounts

receivables .The estimated monthly payments will be approximately $ 99,725 .

The discount was

August 25, 2025, the Company entered into Future Receivables Purchase and Sale Agreement secured by a general security charging all

of RAD’s present and after- acquired property.

The Company received net proceeds of $ 555,671

after fees of $ 29,329 and

a financing fee of $ 222,300

for total fees of $ 251,629 .

The Company must repay $ 807,300 ,

in weekly payments of 7 %

of estimated receipts from accounts receivables.

The estimated monthly payments will be approximately $ 99,725 .

For the nine months ended November 30, 2025, the Company recorded amortization expense of $ 96,211 ,

with an unamortized discount of $ 155,418

at November 30, 2025.

For the nine months ended November 30, 2025, the Company has repaid $ 308,674 .

$ 550,000 note may be pre-payable at any time.

The note balance includes an original issue discount of $ 50,000 .

Principal and interest

due at maturity.

Secured by a general security charging all of RAD’s present and after-acquired property.

For the nine months ended

November 30, 2025, the Company recorded amortization expense of $ 8,031 , with an unamortized discount of $ 41,969 at November 30, 2025.

$ 200,000 note may be pre-payable at any time.

The note balance includes an original issue discount of $ 25,000 .

Principal and interest

due at maturity.

Secured by a general security charging all of RAD’s present and after-acquired property.

For the nine months

ended November 30, 2025, the Company recorded amortization expense of $ 1,935 , with an unamortized discount of $ 23,065 at November

$ 275,000 note may be pre-payable at any time.

The note balance includes an original issue discount of $ 25,000 .

Principal and interest

due at maturity.

Secured by a general security charging all of RAD’s present and after-acquired property.

For the nine months

ended November 30, 2025, the Company recorded amortization expense of $ 1,412 , with an unamortized discount of 23,588 at November

$ 450,000 note may be pre-payable at any time.

The note balance includes an original issue discount of $ 50,000 .

Principal and interest

due at maturity.

Secured by a general security charging all of RAD’s present and after-acquired property.

For the nine months ended

November 30, 2025, the Company recorded amortization expense of $ 622 , with an unamortized discount of 49,378 at November 30, 2025.

STOCKHOLDERS’ EQUITY (DEFICIT)

18 unchanged sentences

of $ 28,871 .

At August 31, 2025 there were 343 outstanding series C shares with a redemption value of $ 450,899 .

At February 28, 2025 there

were 306 outstanding series C shares with a redemption value of $ 402,084 .

F Convertible Preferred Shares

holder of Series F Convertible Preferred Shares may, at any time and from time to time convert all, but not less than all, of their shares

into a number of fully paid and nonassessable shares of common stock determined by multiplying the number of issued and outstanding shares

of common stock of the Company on the date of conversion by three and 45 100ths (3.45) on a pro rata basis.

On November 7, 2025 the Company issued the 12 % quarterly dividend in 10.3 Series C shares with a redemption value of $ 13,539 .

The Company recorded a penalty for not converting 96 shares of a value of $ 115,200 on September 22, 2025.

The penalty was recorded as

additional 314 Series C preferred shares at a value of $ 412,530 with a corresponding adjustment to paid in capital.

The September 22,

2025 conversion was rescinded on December 5, 2025 and a new conversion was done for 84 series C shares for 199,446,429 common shares

at a value of $ 100,800 on December 5, 2025.

At November 30, 2025, 2025 there were 667 outstanding series C shares with a redemption

value of $ 876,968 .

At February 28, 2025 there were 306 outstanding series C shares with a redemption value of $ 402,084 .

Series F Convertible Preferred Shares

Each holder of Series F Convertible Preferred Shares

may, at any time and from time to time convert all, but not less than all, of their shares into a number of fully paid and nonassessable

shares of common stock determined by multiplying the number of issued and outstanding shares of common stock of the Company on the date

of conversion by three and 45 100ths (3.45) on a pro rata basis.

of Preferred Stock Warrant Activity

3 unchanged sentences

Forfeited and cancelled

Outstanding at August 31, 2025

Outstanding at November 30, 2025

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

2 unchanged sentences

Company’s board of directors voted to increase authorized common shares from 23,000,000,000 to 27,500,000,000 on October 15, 2025.

the six months ended August 31, 2025:

the nine months ended November 30, 2025:

the Company issued 5,040,380,240 common shares with gross proceeds of $ 5,165,385 and net proceeds of $ 4,801,184 after issuance costs

2 unchanged sentences

of Common Stock Warrant Activity

the three months and six months ended August 31, 2025 and August 31, 2024, the Company recorded a total of $ 80,355 and $ 83,323 , and $ 160,710

and $ 166,646 respectively, to stock-based compensation for options and warrants with a corresponding adjustment to additional paid-in

the three months and nine months ended November 30, 2025 and November 30, 2024, the Company recorded a total of $ 80,355 and $ 83,323 ,

and $ 241,065 and $ 249,969 respectively, to stock-based compensation for options and warrants with a corresponding adjustment to additional

paid-in capital.

OF COMMON STOCK WARRANT ACTIVITY

Exercise Price

Outstanding at February 28, 2025

Forfeited and cancelled

Outstanding at August 31, 2025

at February 28, 2025

and cancelled

at November 30, 2025

of Common Stock Option Activity -Employee Stock Options

1 unchanged sentence

Exercise Price

Outstanding at March 1, 2025

Forfeited, extinguished and cancelled

( 3,322,058 )

Outstanding at August 31, 2025

at March 1, 2025

extinguished and cancelled

at November 30, 2025

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

33 unchanged sentences

on a straight-line basis.

Rent expense and operating lease cost was $ 62,578 and $ 120,797 for the three and six months ended August 31,

2025, respectively, and $ 62,967 and $ 124,980 for the three and six months ended August 31, 2024, respectively.

Rent expense and operating lease cost was $ 61,295 and $ 182,092 for the three and nine months ended November

30, 2025, respectively, and $ 57,875 and $ 182,855 for the three and nine months ended November 30, 2024 respectively.

of rent expense and operating lease cost are recorded over the lease terms on a straight-line basis.

SCHEDULE OF MATURITY OF OPERATING LEASE LIABILITIES

Maturity of Lease Liabilities

August 31, 2026

August 31, 2027

August 31, 2028

August 31, 2029

August 31, 2030

August 31, 2031 and after

Total lease payments

Present value of lease liabilities

of Lease Liabilities

30, 2031 and after

lease payments

value of lease liabilities

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

3 unchanged sentences

SCHEDULE OF NET INCOME (LOSS) PER COMMON SHARE

For the Three Months Ended

For the Six Months Ended

$ ( 3,930,323 )

$ ( 3,830,953 )

$ ( 8,124,682 )

Dividend on Series B or Series C shares

the Three Months Ended

the Nine Months Ended

income (loss) available to common shareholders

of common stock equivalents

Dividend on Series B shares

Deemed dividend on redemption of Series F shares

Net income (loss )available to common shareholders

( 4,325,343 )

income (loss) adjusted for common stock equivalents

average shares – basic

21,820,801,041

12,161,286,427

Weighted average shares – basic

18,590,935,695

11,071,139,695

income (loss) per share – basic

effect of common stock equivalents:

average shares – diluted

21,820,801,041

12,161,286,427

Net income (loss) per share – basic

Dilutive effect of common stock equivalents:

Convertible notes and accrued interest

Convertible Series F Preferred Shares

Stock options and warrants

Weighted average shares – diluted

18,590,935,695

11,071,139,695

income (loss) per share – diluted

anti-dilutive shares of common stock equivalents for the three and nine months ended November 30, 2024 and 2023 were as follows:

SCHEDULE OF ANTI-DILUTIVE SHARES OF COMMON STOCK EQUIVALENTS

the Three Months Ended

the Nine Months Ended

Series F Preferred Shares*

80,343,027,328

43,406,765,095

Net income (loss) per share – diluted

anti-dilutive shares of common stock equivalents for the three and six months ended August 31, 2025 and 2024 were as follows:

SCHEDULE OF ANTI-DILUTIVE SHARES OF COMMON STOCK EQUIVALENTS

For the Three Months Ended

For the Six Months Ended

Convertible Series C Preferred Shares

Convertible Series F Preferred Shares

80,343,027,328

43,406,765,095

C Preferred Shares

1,218,011,111

Stock options and warrants

options and warrants

81,787,215,961

3 unchanged sentences

SUBSEQUENT EVENTS

to August 31, 2025:

The Company issued 1,200,000,000 common shares pursuant to a share purchase agreement for gross proceeds of $ 760,000 , issuance costs

of $ 116,132 and net proceeds of $ 651,868 .

The Company issued 800,000,000 common shares to a lender to settle $ 534,000 in principal pursuant to exchange agreements with the lender.

The Board of Directors approved to increase authorized common shares from 23,000,000,000 to 27,500,000,000 on October 15, 2025.

On September 25, 2025 the Company issued a promissory note to a lender for $ 550,000 with cash proceeds of $ 500,000 and an original issue

to November 30, 2025:

The Company issued 1,800,000,000 common shares to repay $ 1,080,000 in loans payable.

On December 5, 2025 the Series C preferred shareholder converted 84 series C shares for 199,446,429 common shares at a value of $ 100,800 .

On December 9, 2025 the Company issued a promissory note to a lender for $ 450,000 with cash proceeds of $ 400,000 and an original issue

discount of $ 50,000 .

1 unchanged sentence

present and after-acquired property.

On December 17, 2025 the Company issued a promissory note to a lender for $ 275,000 with cash proceeds of $ 250,000 and an original issue

discount of $ 25,000 .

The loan bears interest at 15 %, matures in 1 year and has a general security charging all of the Company’s

present and after-acquired property.

On December 22, 2025 the Company issued a convertible, redeemable note to a lender for $ 495,000 with cash proceeds of $ 450,000 and an

original issue discount of $ 45,000 .

The loan bears interest at 12 %, the note is redeemable by the Company at any time subject to a premium,

matures in 1 year and converts at 80 % of the lowest trading price 15 trading days prior to the conversion date including the conversion

Interest is payable in common shares at either the redemption date or maturity.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements