What changed in this filing

/stocks — the workspaceLOADING

Item 9A. Controls and Procedures

2026-07-17 compared with 2024-05-29 · 1239 added, 788 removed, 1302 unchanged (61% of the section changed)

9 unchanged sentences

financial officer, as appropriate to allow timely decisions regarding required disclosure.

Restatement of Prior Disclosure Regarding Authorized

As described in the Explanatory Note to this Amendment,

the Company has identified that its original Annual Report on Form 10-K for the fiscal year ended February 28, 2026 incorrectly stated

that the Company’s authorized common stock had been decreased from 27,500,000,000 shares to 12,000,000,000 shares effective March 19,

2026, when in fact the Certificate of Amendment effecting that decrease was not filed with, or accepted by, the Nevada Secretary of State

until July 15, 2026.

The Company has determined that this error is related to the material weakness in controls over financial statement

disclosure identified in item 2 below, in that controls were not designed and in place to confirm that a corporate action requiring a

state filing had, in fact, been completed and accepted before that action was reported as effective.

The Company’s remediation efforts

with respect to this matter include implementing a corporate actions tracking procedure requiring written confirmation of acceptance by

the applicable Secretary of State, and review and sign-off by the Company’s securities counsel, before any corporate action affecting

the Company’s authorized or outstanding capital stock is reported as effective in the Company’s periodic reports.

on Systems of Controls

190 unchanged sentences

Reinharz , our President and Chief Executive

Officer , Anthony Brenz, our Chief Financial Officer and Garret Parsons our former President, Chief Executive Officer and Chief Financial

Officer , Anthony Brenz, our Chief Financial Officer

AND 2025 SUMMARY COMPENSATION TABLE

Name and Principal Position

Name and Principal

Incentive Plan

1 unchanged sentence

Steven Reinharz

Chief Executive Officer, Chief Financial Officer, Secretary (1)

Chief Executive Officer, Chief Financial Officer,

Secretary (1)

Anthony Brenz

2 unchanged sentences

Financial Officer on June 24, 2021 and on that date appointed Anthony Brenz as Chief Financial Officer

Stock awards are payable in Series G and are included in long term liabilities as they will not be paid out in the current year.

awards are payable in Series G and are included in long term liabilities as they will not be paid out in the current year.

April 9, 2021 Mr.

4 unchanged sentences

annually by the Board of Directors) and bonuses to be granted at the discretion of the Board of Directors.

In addition, the Company will

grant stock options to Mr.

Reinharz under the following conditions:

Reinharz shall be granted an award of 10,000,000 million shares/options/warrants if Objective #1 is achieved.

the price per share of the Company’s common stock has increased in value to an average of $0.30 for ten (10) days in a

thirty-day trading period.

For example, pursuant to a Company Stock Plan, if one is adopted, Mr.

Reinharz may elect to exercise Award

#1 on a cash or cashless basis at an exercise price of $0.15 per share/option/warrant.

Reinharz shall be granted an award of 30,000,000 million shares/options/warrants if Objective #2 is achieved.

the price per share of the Company’s common stock has increased in value to an average of $0.50 for ten (10) days in a

thirty-day trading period.

For example, pursuant to a Company Stock Plan, if one is adopted, Mr.

Reinharz may elect to exercise Award

#2 on a cash or cashless basis at an exercise price of $0.25 per share/option/warrant.

July 12, 2021 the Company and CEO amended the April 9, 2021 Employment Agreement effective July 1, 2021 whereby the following objectives

and awards were added to the two existing ones:

in any fiscal quarter exceed the total sales in fiscal year 2021 for the first time.

hundred (500) shares of Series G preferred stock.

hundred fifty (150) devices are deployed in the marketplace.

hundred fifty (250) shares of Series G preferred stock.

sales at any point in fiscal year 2022 exceed One Million Dollars ($1,000,000).

hundred fifty (250) shares of Series G preferred stock.

price per share of common stock has increased to and maintains a price of Ten Cents ($0.10) or more for ten (10) days in a thirty

(30) day period.

hundred fifty (250) shares of Series G preferred stock.

price per share of common stock has increased to and maintains a price of Twenty Cents ($0.20) or more for ten (10) days in a thirty(30)

hundred (500) shares of Series G preferred stock.

RAD 3.0 products are launched into the marketplace by November 30, 2022.

hundred (500) shares of Series G preferred stock.

receives an order for fifty (50) units from a single customer.

hundred (500) shares of Series G preferred stock.

January 31, 2024 the Company added the following Objective effective March 1, 2022:

# 10 In any fiscal quarter, attrition , measured by loss of recurring monthly revenue does not exceed 10%

#10 Two h undred fifty (250) shares of Series G preferred stock.

fair value of the first two awards was obtained through the use of the Monte Carlo method was $69,350 with a charge to stock- based compensation

and a corresponding charge to paid in capital.

The fair value of the remaining rewards was determined by calculating the vesting amounts

of each reward and then determining for each reporting period the requisite service rendered and applying that against the cash redemption

value of the number of shares of Series G issuable for each tier in the agreement.

For the period ended February 29, 2024 that amount

totaled $1,521,000 with a charge to stock-based compensation and a corresponding charge to incentive compensation plan payable.

period ended February 28, 2023 that amount totaled $499,500 with a charge to stock-based compensation and a corresponding charge to incentive

compensation plan payable.

April 20,2021 an offer letter was agreed with Anthony Brenz for a base salary of $180,000, a discretionary quarterly bonus and future

participation in the Employee Stock Option Plan.

Employment commenced on April 26, 2021 and Mr.

Brenz was appointed the Company’s

Chief Financial Officer on June 24, 2021.

The base salary was amended to $190,000 on January 1, 2022.

The salary for the fiscal

year ended February 28, 2026 was $420,000.

Equity Awards at 2026 Fiscal Year-End

following table provides information concerning unexercised options, stock that has not vested and equity incentive plan awards for Mr

Reinharz and Mr Brenz, our sole executive officers outstanding as of February 29, 2024:

OPTION AWARDS

Number of Securities Underlying Unexercised Options (#) Exercisable

Number of Securities Underlying Unexercised Options (#) Unexercisable

Equity Incentive Plan Awards:

Brenz, our sole executive officers outstanding as of February 28, 2026:

of Securities Underlying Unexercised Options (#) Exercisable

of Securities Underlying Unexercised Options (#) Unexercisable

Incentive Plan Awards:

Number of Securities Underlying Unexercised Unearned Options

Option Exercise Price

Option Expiration Date

Number of Shares or Units of Stock That Have Not Vested (#)

Market Value of Shares or Units of Stock That Have Not Vested ($)

Equity Incentive Plan Awards:

Exercise Price

Expiration Date

of Shares or Units of Stock That Have Not Vested (#)

Value of Shares or Units of Stock That Have Not Vested ($)

Incentive Plan Awards:

Number of Unearned Shares, Units or Other Rights That Have Not Vested (#)

Equity Incentive Plan Awards:

Incentive Plan Awards:

Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($)

Steven Reinharz

April 9, 2024

Steven Reinharz

April 9, 2024

Anthony Brenz

4 unchanged sentences

the maximum number of shares applicable to the 2021 Plan from 50,000 to 1,000,000.

On August 14.32023 the Company further amended

the plan increasing the maximum shares to 200,000,000.

On August 14,2023 the Company further amended the

plan increasing the maximum shares to 2,000,000.

purpose of the 2021 Plan is to promote the success of the Company by authorizing incentive awards to retain Directors, executives, selected

2 unchanged sentences

the granting of stock options, restricted stock, restricted stock units, stock appreciation rights and stock awards.

A total of two hundred

A total of two d

million (2,000,000) shares of common stock may be issued under the 2021 Plan.

16 unchanged sentences

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

May 22, 2024, we had 10,318,917,383 shares of Common Stock issued and outstanding.

June 1, 2026, we had 387,232,589 shares of Common Stock issued and outstanding.

The following table sets forth information regarding

the beneficial ownership of our Common Stock as of May 7, 2024, and reflects:

the beneficial ownership of our Common Stock as of June 1, 2026, and reflects:

of our executive officers;

7 unchanged sentences

community property laws, except as otherwise provided below.

Amount and Nature of

Beneficial Ownership (1)

Common Stock (2)

Named Executive Officers and Directors:

Ownership (1)

Named Executive Officers

and Directors:

Steven Reinharz (3)

1 unchanged sentence

Anthony Brenz

All executive officers and directors as a group (3 persons)

All executive officers and directors as a group

1,302,460,588

9 unchanged sentences

shares which may be acquired within 60 days on exercise of warrants or options and conversion of convertible securities, and (b)

the denominator is the sum of (i) the total shares of common stock outstanding on as of May 22, 2024 10,318,917,383shares, and (ii)

the denominator is the sum of (i) the total shares of common stock outstanding on as of June 1, 2026 387,232,589 shares, and (ii)

the total number of shares that the beneficial owner may acquire upon exercise of the derivative securities.

1 unchanged sentence

each beneficial owner has sole power to vote and dispose of its shares.

on 10,318,917,383shares of the Company’s common stock issued and outstanding as of May 22, 2024.

on 387,232,5899 shares of the Company’s common stock issued and outstanding as of June 1, 2026.

Reinharz is a director and the Company’s Chief Executive Officer, Chief Financial Officer and Secretary as well as the CEO

2 unchanged sentences

Reinharz converted the 2,450 shares of the Company’s Series F Convertible Preferred Stock, he would

receive 34,433,734,378 shares of the Company’s common stock, which is included in the chart above as if such conversion has

Further, the outstanding shares of Series E preferred stock have the right to take action by written consent or vote based

on the number of votes equal to twice the number of votes of all outstanding shares of common stock.

As a result, the holders of

Series E preferred stock has 2/3rds of the voting power of all shareholders at any time corporate action requires a vote of shareholders.

receive 1,302,460,588shares of the Company’s common stock, which is included in the chart above as if such conversion has occurred.

Further, the outstanding shares of Series E preferred stock have the right to take action by written consent or vote based on the

number of votes equal to twice the number of votes of all outstanding shares of common stock.

As a result, the holders of Series

E preferred stock has 2/3rds of the voting power of all shareholders at any time corporate action requires a vote of shareholders.

CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR INDEPENDENCE

1 unchanged sentence

When such transactions arise, they are referred to our board of directors for its consideration.

the years ended February 29, 2024 and February 28, 2023, the Company made net repayments of $54,179 and $0, respectively , to its loan

payable-related party.

the years ended February 28, 2026, and February 28, 2025, the Company had net (advances) repayments of ($132,268) and ($71,927), respectively,

to its loan payable-related party.

At February 28, 2026, the loan payable-related party was $461,633 and $329,365 at February 28, 2025.

As of February

29, 2024, included in the balance due to the related party is $140,013 of deferred salary all of which bears interest at 12%.

As of February

28, 2023, included in the balance due to the related party is $108,000 of deferred salary all of which bears interest at 12%.

interest included at February 29, 2024 was $32,468 (February 28, 2023- $15,660).

the year ended February 28, 2023 pursuant to the amended Employment Agreement with its Chief Executive Officer the Company accrued $1,521,000

as incentive compensation plan payable with a corresponding recognition of stock based compensation due to the expectation of additional

awards being met.

In January 2024 the Company added an Objective 10 which required the accrual of $2,000,000.

There was also a net adjustment

reduction of $479,000 for objectives accrued for but not met.

February 28, 2023, the balance of incentive compensation plan payable was $979,000.

This will be payable in Series G Preferred Shares

which are redeemable at the Company’s option at $1,000 per share.

the year ended February 29, 2024, the Company accrued $538,767 in deferred compensation for the CEO.

This was in accordance with a December

2023 board action allowing for $ 1 million of discretionary compensation.

The Company had already recorded $461,233 in bonus compensation.

There was no deferred compensation for the year ended February 28, 2023, the Company recorded a bonus to the CEO of $280,908.

As of February 28, 2026, included in the balance due to the related party is $285,638 of deferred salary all of which bears interest

As of February 28, 2025, included in the balance due to the related party is $190,013 of deferred salary all of which bears interest

The accrued interest included at February 28, 2026, was $79,268 (February 28, 2025- $51,575).

the year ended February 28, 2026, the Company had a net repayment of $390,744 in deferred compensation for the CEO.

This would bring

his annual bonus for the year ended February 28, 2026, to $1.0 million.

For the fiscal year ended February 28, 2025, the Company paid

out $1,390,744 to the CEO.

During the year ended February 28, 2025, the Company a net accrual of $1,663,833 in deferred compensation

This would bring his annual bonus for the year ended February 28, 2025, to $2.5 million.

For the fiscal year ended February

28, 2025, the Company paid out $836,167 to the CEO.

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

of discretionary compensation.

the years ended February 28, 2026, and February 28, 2025, the Company accrued 1,500 Series G shares to be issued totaling $1,500,000

and 1,500 Series G preferred shares to be issued totaling $1,500,000, respectively, both per Company resolution.

The Series G preferred

shares are redeemable at $1,000 per share and will be issued by the Company at the appropriate time.

The balance of Incentive Compensation

Plan Payable at February 28, 2026, was $5,500,000 and the balance February 28, 2025, was $4,000,000.

the years ended February 28, 2026, and February 28, 2025, the Company was charged $2,576,111 and $2,541,180, respectively in consulting

2 unchanged sentences

on core development projects.

As at both February 29, 2024 and February 28, 2023 the balance due to this company was $76,532.

As at February 28, 2026, and February 28, 2025, the balance due to this company was $160,557 and $76,532,

respectively.

PRINCIPAL ACCOUNTING FEES AND SERVICES

36 unchanged sentences

are not applicable (and therefore have been omitted), or the required disclosures are contained in the financial statements included

Stock Purchase Agreement, dated August 28, 2017, by and among the registrant, Steve Reinharz and Robotic Assistance Devices Inc.

(incorporated by reference to Exhibit 10.1 to the registrant’s current report on Form 8-K filed with the Commission on August 31, 2017).

Articles of Incorporation of the registrant filed with the Nevada Secretary of State on September 8, 2014.

(incorporated by reference to Exhibit 3.1 to the registrant’s transition report on Form 10-KT filed with the Commission on March 12, 2018) .

Plan and Agreement of Merger of Artificial Intelligence Technology Solutions Inc.

(a Florida corporation) and Artificial Intelligence Technology Solutions Inc.

Purchase Agreement, dated August 28, 2017, by and among the registrant, Steve Reinharz and Robotic Assistance Devices Inc.

(incorporated

by reference to Exhibit 10.1 to the registrant’s current report on Form 8-K filed with the Commission on August 31, 2017).

of Incorporation of the registrant filed with the Nevada Secretary of State on September 8, 2014.

(incorporated by reference to Exhibit

3.1 to the registrant’s transition report on Form 10-KT filed with the Commission on March 12, 2018).

and Agreement of Merger of Artificial Intelligence Technology Solutions Inc.

(a Florida corporation) and Artificial Intelligence

Technology Solutions Inc.

(a Nevada corporation).

(incorporated by reference to Exhibit 3.2 to the registrant’s transition report on Form 10-KT filed with the Commission on March 12, 2018).

Bylaws of the registrant (incorporated by reference to Exhibit 3.2 to the registrant’s registration statement on Form S-1 (File No.

(incorporated by reference to Exhibit 3.2 to the registrant’s transition

report on Form 10-KT filed with the Commission on March 12, 2018).

of the registrant (incorporated by reference to Exhibit 3.2 to the registrant’s registration statement on Form S-1 (File No.

333-168530), filed with the Commission on August 4, 2010).

Certificate of Designations filed with the Nevada Secretary of State on February 8, 2017.

(incorporated by reference to Exhibit 3.4 to the registrant’s transition report on Form 10-KT filed with the Commission on March 12, 2018).

Certificate of Designations filed with the Nevada Secretary of State on May 3, 2017.

(incorporated by reference to Exhibit 3.5 to the registrant’s transition report on Form 10-KT filed with the Commission on March 12, 2018).

Amendment to Certificate of Designations filed with the Nevada Secretary of State on May 3, 2017 (incorporated by reference to Exhibit 3.1 to the registrant’s current report on Form 8-K filed with the Commission on May 12, 2017).

Preferred Stock Purchase Agreement dated January 31, 2017 and entered into between the Company and Capital Venture Holdings LLC.

(incorporated by reference to Exhibit 10.1 to the registrant’s transition report on Form 10-KT filed with the Commission on March 12, 2018).

Code of Ethics (incorporated by reference to Exhibit 14.1 to the registrant’s registrant statement on Form S-1 (File No.

of Designations filed with the Nevada Secretary of State on February 8, 2017.

(incorporated by reference to Exhibit 3.4 to the registrant’s

transition report on Form 10-KT filed with the Commission on March 12, 2018).

of Designations filed with the Nevada Secretary of State on May 3, 2017.

(incorporated by reference to Exhibit 3.5 to the registrant’s

transition report on Form 10-KT filed with the Commission on March 12, 2018).

to Certificate of Designations filed with the Nevada Secretary of State on May 3, 2017 (incorporated by reference to Exhibit 3.1

to the registrant’s current report on Form 8-K filed with the Commission on May 12, 2017).

Stock Purchase Agreement dated January 31, 2017 and entered into between the Company and Capital Venture Holdings LLC.

(incorporated

by reference to Exhibit 10.1 to the registrant’s transition report on Form 10-KT filed with the Commission on March 12, 2018).

of Ethics (incorporated by reference to Exhibit 14.1 to the registrant’s registrant statement on Form S-1 (File No.

filed with the Commission on August 4, 2010).

List of Subsidiaries.

Consent of Independent Registered Public Accounting Firm.

Rule 13(a)-14(a)/15(d)-14(a) Certification of principal executive officer.

Rule 13(a)-14(a)/15(d)-14(a) Certification of principal financial and accounting officer.

Section 1350 Certification of principal executive officer.

Section 1350 Certification of principal financial and accounting officer.

Insider Trading Policy.

(incorporated by reference to Exhibit 99.1 to the registrant’s annual report on Form 10-K filed with the Commission on May 28, 2021).

of Subsidiaries.

13(a)-14(a)/15(d)-14(a) Certification of principal executive officer.

13(a)-14(a)/15(d)-14(a) Certification of principal financial and accounting officer.

1350 Certification of principal executive officer.

1350 Certification of principal financial and accounting officer.

Trading Policy.

(incorporated by reference to Exhibit 99.1 to the registrant’s annual report on Form 10-K filed with the Commission

on May 28, 2021).

XBRL Instance Document – the instance document does not appear in the Interactive Data File because XBRL tags are embedded

10 unchanged sentences

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

July 16, 2026

Steven Reinharz

Chief Executive Officer

July 16, 2026

Anthony Brenz

7 unchanged sentences

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

ON THE MOVE SYSTEMS CORP.)

TO CONSOLIDATED FINANCIAL STATEMENTS

of Independent Registered Public Accounting Firm

Report of Independent Registered Public Accounting Firm

Balance Sheets

Statements of Operations

Statement of Stockholders’ Deficit

Statements of Stockholders’ Deficit

Statements of Cash Flows

15 unchanged sentences

As discussed in Note

1 to the financial statements, the Company had a net loss of approximately $20.7 million, an accumulated deficit of approximately $133.0

million and stockholders’ deficit of approximately $40.2 million as of and for the year ended February 29, 2024, which raises substantial

doubt about its ability to continue as a going concern.

Management’s plans in regard to these matters are also described in Note

The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

1 to the financial statements, the Company had negative cash flow from operating activities of approximately $9.3 million, an accumulated

deficit of approximately $171.1 million and negative working capital of approximately $17.0 million as of and for the year ended February

28, 2026, which raises substantial doubt about its ability to continue as a going concern.

Management’s plans in regard to these

matters are also described in Note 1.

The financial statements do not include any adjustments that might result from the outcome of this

financial statements are the responsibility of the Company’s management.

27 unchanged sentences

L J Soldinger Associates, LLC

Park, Illinois

9, 2024, except for Note 17, as to which the date is May 28, 2024

have served as the Company’s auditor since 2019.

Park, Illinois

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

BALANCE SHEETS

February 29, 2024

February 28, 2023

Current assets:

Accounts receivable, net

Device parts inventory, net

Prepaid expenses and deposits

Share proceeds receivable

Device parts inventory,

expenses and deposits

Total current assets

Operating lease asset

Revenue earning devices, net of accumulated depreciation of $ 952,844 and $ 779,839 ,

Fixed assets, net of accumulated depreciation of $ 349,878 and $ 182,002 , respectively

Revenue earning devices,

net of accumulated depreciation of $ 3,257,668 and $ 2,292,172 , respectively

Fixed assets, net of accumulated

depreciation of $ 540,426 and $ 491,186 , respectively

Investment at cost

Security deposit

LIABILITIES AND STOCKHOLDERS’ DEFICIT

LIABILITIES AND STOCKHOLDERS’

Current liabilities:

Accounts payable and accrued expenses

Advances payable- related party

Accounts payable and accrued

Customer deposits

Current operating lease liability

Current portion of deferred variable payment obligation

Loan payable - related party

Deferred compensation for CEO

Current portion of loans payable, net of discount of $ 688,598 and $ 1,651,597

Vehicle loan - current portion

Current portion of accrued interest payable

Current operating lease

Current portion of deferred

variable payment obligation

Loan payable - related

Deferred compensation for

Current portion of loans

payable, net of discount of $ 635,774 and $ 0

portion of accrued interest payable

Total current liabilities

Non-current operating lease liability

Loans payable, net of discount of $ 4,118,332 and $ 4,130,291 , respectively

Deferred variable payment obligation

Incentive compensation plan payable

Accrued interest payable

Total liabilities

Non-current operating lease

Loans payable, net of discount

of $ 0 and $ 360,163 , respectively

Deferred variable payment

Incentive compensation

interest payable

Series B Convertible, Redeemable Preferred

$ 0.001 par value;

8 % cumulative dividend payable quarterly,$ 1,200 stated value, 5,000 shares authorized, no shares issued

and outstanding at February 28, 2026 and February 28, 2025, respectively

Series C Convertible, Redeemable Preferred

$ 0.001 par value;

$ 1,200 stated value, redeemable at 109.5 %, 12 % dividend, 1,000 shares authorized, 417 and 306 shares issued

and outstanding at February 28, 2026 and February 28, 2025, respectively

Convertible, Redeemable Preferred

Commitments and Contingencies

2 unchanged sentences

15,534,000 shares authorized;

no shares issued

and outstanding at February 29, 2024 and February 28, 2023, respectively

Series B Convertible, Redeemable Preferred Stock.

no shares issued and outstanding at February 28, 2026 and February 28, 2025, respectively

Series G Redeemable Preferred

$ 0.001 par value;

8 % cumulative

dividend payable quarterly,$ 1,200 stated value, 5,000 shares authorized, no shares issued and outstanding at February 29, 2024 and

February 28, 2023, respectively

Series G Redeemable Preferred Stock.

100,000 shares authorized, no shares issued and outstanding at February 28, 2026 and February 28, 2025,

Series E Preferred Stock,

$ 0.001 par value;

4,350,000 shares authorized;

no shares issued and outstanding at February 29, 2024 and February 28, 2023, respectively

Series E Preferred Stock, $ 0.001 par value;

4,350,000 shares authorized;

3,350,000 and 3,350,000 shares issued and outstanding, respectively

Series F Convertible Preferred Stock, $ 1.00 par value;

Series F Convertible Preferred

Stock, $ 1.00 par value;

10,000 shares authorized;

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

Preferred Stock value

Common Stock, $ 0.00001 par value;

12,500,000,000 shares authorized 9,238,750,958

Common Stock, $ 0.00001

27,500,000,000 shares authorized as of February 28, 2026 and February 28, 2025 (subsequently decreased to 12,000,000,000 shares

authorized effective July 15, 2026 — see Summary of Common Stock Activity below);

267,872,804 and 144,124,538 shares issued, issuable and outstanding, respectively

1 unchanged sentence

Preferred stock to be issued

Accumulated deficit

( 171,121,742 )

( 156,496,930 )

Total stockholders’ deficit

stockholders’ deficit

( 53,211,087 )

( 49,931,012 )

Total liabilities and stockholders’ deficit

liabilities and stockholders’ deficit

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

1 unchanged sentence

STATEMENTS OF OPERATIONS

February 29, 2024

February 28, 2023

Cost of goods sold

Depreciation and Amortization

Loss on disposal of revenue

earning devices

Cost of Goods Sold

Operating expenses:

Research and development (note 9)

Research and development

General and administrative

Depreciation and amortization

Impairment on revenue earning devices

Operating lease cost and rent

(Gain) loss on disposal of fixed assets

Total operating expenses

Loss on disposal of fixed

lease cost and rent

operating expenses

Loss from operations

1 unchanged sentence

( 13,946,873 )

Other income (expense), net:

Change in fair value of derivative liabilities

Other income (expense),

Interest expense

1 unchanged sentence

( 5,456,981 )

Gain (loss) on settlement of debt

Total other income (expense), net

on settlement of debt

other income (expense), net

( 2,566,854 )

4 unchanged sentences

Net loss per share - diluted

Weighted average common share outstanding – basic and diluted

7,080,914,317

5,091,857,082

Weighted average common

share outstanding – basic and diluted

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

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

STATEMENT OF STOCKHOLDERS’ DEFICIT

STATEMENTS OF STOCKHOLDERS’ DEFICIT

THE YEARS ENDED FEBRUARY 28, 2026 AND FEBRUARY 28, 2025

Preferred Stock

Shareholder’s

Shareholders’

2 unchanged sentences

$ ( 40,199,557 )

$ ( 20,976,357 )

Issuance of shares net of $ 447,858 issuance costs

1,057,841,576

Cashless exercise of 108,378,210 warrants

Cashless exercise of warrants

Penalty shares issued pursuant to a share purchase agreement

Relative fair value of Series F warrants issued with debt

Relative fair value of warrants issued with debt

Fair value of 955,000,000 warrants cancelled for debt issuance

( 2,960,500 )

Cumulative Effect Adjustment

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

( 4,175,535 )

Shares issued for services

Cancelled shares

( 4,175,535 )

Stock based compensation - employee stock option plan

Issuance of shares, net of $ 701,565 issuance

Debt exchanged for common

Series F Preferred Shares

exchanged for debt

Issuance of Series B Preferred

Series B Preferred Shares

issued as commitment fee

Series B Preferred shares

issued as dividend

Redemption of Series B

Preferred shares

Issuance of Series C Preferred

Stock based compensation

( 18,935,592 )

4 unchanged sentences

$ ( 49,931,012 )

Preferred Stock

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

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

STATEMENTS OF SHAREHOLDERS’ DEFICIT

Shareholder’s

Shareholders’

Balance at February 28, 2023

5,848,741,599

$ ( 112,253,711 )

$ ( 31,843,001 )

5,848,741,599

$ ( 112,253,711 )

$ ( 31,843,001 )

Issuance of shares net of $ 457,060 issuance costs

3,383,509,359

Issuance of shares, net of issuance costs

3,383,509,359

Relative fair value of Series F warrants issued with debt

Shares issued for services

Stock based compensation - employee stock option plan

at February 28, 2025

$ 106,459,528

$ ( 156,496,930 )

Balance at February 29, 2024

$ ( 49,931,012 )

of shares, net of $ 364,161 issuance costs

of shares, net of issuance costs

exchanged for common stock

of Series C Preferred shares

redemption of Series C shares

C Preferred shares issued as dividend

on failure to redeem Series C Preferred shares

on failure to convert Series C Preferred shares

based compensation

( 14,510,251 )

at February 28, 2026

$ 117,803,027

1 unchanged sentence

$ ( 53,211,087 )

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

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

STATEMENTS OF CASH FLOWS

February 29, 2024

February 28, 2023

CASH FLOWS FROM OPERATING ACTIVITIES:

CASH FLOWS FROM OPERATING

$ ( 14,510,251 )

$ ( 18,935,592 )

Adjustments to reconcile net loss to net cash used in operating activities:

Adjustments to reconcile net loss to net cash

used in operating activities:

Depreciation and amortization

Impairment on revenue earning devices

Inventory provision

(Gain) loss on disposal of fixed assets

Inventory provision (recovery)

Bad debts expense

Reduction of right of use asset

Reduction of right of use

Accretion of lease liability

Stock based compensation

Change in fair value of derivative liabilities

Amortization of debt discounts

(Gain) loss on settlement of debt

Increase (decrease) in related party accrued payroll and interest

Changes in operating assets and liabilities:

Penalty added to face value

Gain on settlement of debt

( 3,434,685 )

Loss on disposal of revenue

earning devices and fixed assets

Increase in related party

accrued payroll and interest

Changes in operating assets

and liabilities:

Accounts receivable

Prepaid expenses

Deposit on right of use

Security deposit on operating

Device parts inventory

1 unchanged sentence

( 2,464,468 )

Accounts payable and accrued expenses

Accrued expense, related party

Accounts payable and accrued

Deferred compensation for

Customer deposits

Operating lease liability payments

Current portion of deferred variable payment obligations for Payments

Accrued interest payable

Net cash used in operating activities

Operating lease liability

Current portion of deferred

variable payment obligations for Payments

interest payable

cash used in operating activities

( 9,344,534 )

( 12,196,388 )

CASH FLOWS FROM INVESTING ACTIVITIES:

CASH FLOWS FROM INVESTING

Purchase of fixed assets

Purchase of investment

Reimbursement of security deposit

Proceeds on disposal of fixed assets

Net cash used in investing activities

CASH FLOWS FROM FINANCING ACTIVITIES:

Share proceeds net of issuance costs

Proceeds from convertible notes payable

Repayment of convertible debt

Net borrowings loan payable-related party

Purchase of trademarks

of investment (convertible note receivable)

cash used in investing activities

CASH FLOWS FROM FINANCING

Share proceeds net of issuance

Proceeds on issuance of

Series B Preferred Shares

Redemption of Series B

or Series C Preferred Shares

Proceeds on issuance of

Series C Preferred Shares

Proceeds from loans payable

Repayment of loans payable

of loans payable

( 1,302,561 )

Net cash provided by financing activities

cash provided by financing activities

Net change in cash

( 3,708,387 )

Cash, beginning of period

Cash, end of period

Supplemental disclosure of cash and non-cash transactions:

Cash paid for interest

Cash paid for income taxes

Supplemental disclosure of cash and non-cash

transactions:

paid for interest

paid for income taxes

Noncash investing and financing activities:

Right of use asset for lease liability

Transfer from device parts inventory to fixed assets

Proceeds of fixed asset disposition to loan payable ,

related party

Shares issued for services

Deferred compensation

Discount applied to face value of loans

Series F warrants issued along with debt

Exchange of common share warrants for debt

Refund on abandoned trademarks

Penalty shares pursuant to a share purchase agreement

Exercise of warrants

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

of use asset for lease liability

from device parts inventory to fixed assets

C penalty shares issued

applied to face value of loans

of Series F Preferred Shares for loans payable

of loans payable and accrued interest for common shares

note receivable exchanged for investment at cost

on Series B or Series C Preferred Shares paid in Series B or Series C Preferred Shares

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

46 unchanged sentences

Management has plans to address the Company’s financial situation as follows:

is committed to raise either non-dilutive funds or minimally dilutive funds.

There is no assurance that these funds will be able to be

raised nor can we provide assurance that these possible raises may not have dilutive effects.

In March 2023, the Company entered into

an equity financing agreement whereby an investor will purchase up to $ 30,000,000 of the Company’s common stock at a discount over

a two-year period.

is committed to raise funds either through convertible debt or equity financing..

There is no assurance that these funds will be able

to be raised nor can we provide assurance that these possible raises may not have dilutive effects.

In May 2026, the Company entered

into an equity financing agreement whereby an investor will purchase up to $ 10,000,000 of the Company’s common stock at a discount

over a three-year period.

There remains approximately $ 10 million left to issue under this arrangement.

Management believes that it has the

necessary support to continue operations by continuing its funding methods in the following ways :

growing revenues ,through equity proceeds,

and issuing non-convertible debt.

Management has had many recent conversations with the Company’s primary debt holder and believes

that the non-convertible debt on the balance sheet will be extended.

Management notes that non-convertible debt on the books has been

extended by this debt holder twice in the past and notes that this debt holder has been a strong supporter of the Company.

Management believes that it has

the necessary support to continue operations by continuing its funding methods in the following ways :

growing revenues ,through equity

proceeds, and issuing debt.

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

7 unchanged sentences

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

Devices Mobile , Inc.

, On the Move Experience, LLC and OMV Transports, LLC.

All significant intercompany accounts and transactions have

been eliminated in consolidation.

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

All significant intercompany accounts and transactions have been eliminated

in consolidation.

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

10 unchanged sentences

Concentrations

February 29, 2024 there were $ 32,796,345 of loans payable, $ 28,540,506 or 87 % of these loans to companies controlled by one individual.

At February 28, 2023 there were $ 31,254,345 of loans payable, $ 26,540,506 or 85 % of these loans to companies controlled by one individual.

of Loans Payable

February 28, 2026 there were $ 33,672,294 loans payable, $ 32,178,506 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..

Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents.

3 unchanged sentences

high-quality, U.S.

financial institutions and, to date has not experienced losses on any of its balances.

financial institutions which, at times, may exceed federally insured limits, and, to date has not experienced losses

on any of its balances.

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

TO THE CONSOLIDATED FINANCIAL STATEMENTS

receivable are comprised of balances due from customers, net of estimated allowances for credit losses.

3 unchanged sentences

For the year ended February

29, 2024 , three customers account for 72 % of total accounts receivable .

For the year ended February 28, 2023 , three customers account

for 48 % of total accounts receivable.

28, 2026, two customer account for 31 % of total accounts receivable .

For the year ended February 28, 2025, one customer accounts for

52 % of total accounts receivable.

Parts Inventory

7 unchanged sentences

At February 28, 2026 and at February 28, 2025 there was a valuation reserve of $ 175,000 and $ 465,000 , respectively.

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

TO THE CONSOLIDATED FINANCIAL STATEMENTS

Earning Devices

13 unchanged sentences

which do not improve or extend asset lives are expensed currently.

OF FIXED ASSETS STATED AT COST

SCHEDULE OF FIXED ASSETS STATED AT COST

years, the life of the lease

3 unchanged sentences

removed from the accounts and the resulting gain or loss, if any, is recognized in income.

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

TO THE CONSOLIDATED FINANCIAL STATEMENTS

and Development

13 unchanged sentences

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

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

TO THE CONSOLIDATED FINANCIAL STATEMENTS

of Future Revenues

14 unchanged sentences

As of the date of these financial statements, the Company has determined that all such agreements are debt.

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

TO THE CONSOLIDATED FINANCIAL STATEMENTS

2014-09, “Revenue from Contracts with Customers (Topic 606)” , supersedes the revenue recognition requirements and

8 unchanged sentences

amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance

For the year ended February 29, 2024 , three customers accounted for 56 % of total revenue and for the year ended February

28, 2023 , two customers accounted for 45 % of total revenue.

For the year ended February 28, 2026, two customers accounted for 55 % of total revenue and for the year ended February 28,

2025, one customer accounted for 55 % of total revenue (see Note-3).

taxes are accounted for under the asset and liability method.

33 unchanged sentences

equals or exceeds substantially all of the fair value of the underlying asset.

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

TO THE CONSOLIDATED FINANCIAL STATEMENTS

at its inception, a lease meets any of the four lease criteria above, the lease is classified by the Company as a sales/finance;

if none of the four criteria are met, the lease is classified by the Company as an operating lease.

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

TO THE CONSOLIDATED FINANCIAL STATEMENTS

lease payments are recognized as an expense in the income statement on a straight-line basis over the lease term, whereby an equal amount

50 unchanged sentences

on a Recurring Basis

following table presents information about our liabilities measured at fair value on a recurring basis, aggregated by the level in the

fair value hierarchy within which those measurements fell:

OF LIABILITIES MEASURED AT FAIR VALUE

Fair Value Measurement Using

following table presents information about our assets and liabilities measured at fair value on a recurring basis, aggregated by the

level in the fair value hierarchy within which those measurements fell:

SCHEDULE OF LIABILITIES MEASURED AT FAIR VALUE

Value Measurement Using

February 28, 2026

Incentive compensation plan payable –

revaluation of equity awards payable in Series G shares

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

February 28, 2025

Incentive compensation plan payable – revaluation

of equity awards payable in Series G shares

Company recorded stock based compensation of $ 1,521,000 and $ 499,500 for the years ended February 29, 2024 and February 28, 2023 with

corresponding adjustments to incentive compensation plan payable.

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

the incentive compensation plan , the Company recorded stock based compensation of $ 1,500,000 and $ 1,500,000 for the years ended February

28, 2026 and February 28, 2025 with corresponding adjustments to incentive compensation plan payable.

method of valuation of the incentive compensation plan payable is based on the redemption value of the Series G Preferred Shares.

method of valuation of the Level 3 investment at cost is an independent third party valuation of the common share value of the investment.

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

8 unchanged sentences

Diluted EPS excluded all dilutive potential shares if their effect is anti-dilutive.

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

TO THE CONSOLIDATED FINANCIAL STATEMENTS

loss per common share is computed based on the weighted average number of shares outstanding during the period.

4 unchanged sentences

nature with regards to earnings per share.

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

TO THE CONSOLIDATED FINANCIAL STATEMENTS

Issued Accounting Pronouncements

Issued Accounting Standards Not Yet Adopted

August 2020, the FASB issued ASU 2020-06, Debt — Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and

Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40) :

Accounting for Convertible Instruments and Contracts in an Entity’s

Under ASU 2020-06, the embedded conversion features are no longer separated from the host contract for convertible instruments

with conversion features that are not required to be accounted for as derivatives under Topic 815, or that do not result in substantial

premiums accounted for as paid-in capital.

Consequently, a convertible debt instrument will be accounted for as a single liability measured

at its amortized cost, as long as no other features require bifurcation and recognition as derivatives.

The new guidance also requires

the if-converted method to be applied for all convertible instruments.

The amendments in ASU 2020-06 are effective for public entities,

excluding smaller reporting companies as defined, for fiscal years beginning after December 15, 2021.

For all other entities, the amendments

are effective for fiscal years beginning after December 15, 2023.

Adopted Accounting Pronouncements

2023-07 – Segment Reporting (Topic 280):

Improvements to Reportable Segment Disclosures

November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280):

Improvements to Reportable Segment Disclosures .

amendments require enhanced disclosures about significant segment expenses and other segment items, require disclosure of the title and

position of the chief operating decision maker (“CODM”), explain how the CODM uses reported measures of segment profit or

loss to assess performance and allocate resources, and expand interim disclosure requirements.

The amendments apply to entities with

a single reportable segment as well as entities with multiple reportable segments.

Company adopted ASU 2023-07, Segment Reporting (Topic 280):

Improvements to Reportable Segment Disclosures , during fiscal 2025.

The standard requires enhanced disclosures regarding segment expenses and CODM information and applies to entities with a single reportable

Adoption of the standard impacted the Company’s segment reporting disclosures only and did not affect its consolidated

financial position, results of operations, or cash flows.

issued accounting pronouncement not yet effective

2024-04—Debt with Conversion and Other Options (Topic 470-20):

Induced Conversions of Convertible Debt Instruments

November 2024, the Financial Accounting Standards Board (“FASB”) issued ASU 2024-04, Debt with Conversion and Other Options

(Subtopic 470-20):

Induced Conversions of Convertible Debt Instruments .

The amendments clarify the requirements for determining whether

certain settlements of convertible debt instruments should be accounted for as induced conversions or as debt extinguishments.

the amended guidance, an induced conversion requires that the inducement offer provide the holder, at a minimum, the consideration issuable

under the existing conversion privileges of the instrument.

amendments are effective for annual reporting periods beginning after December 15, 2025, including interim reporting periods within those

fiscal years.

Early adoption is permitted.

A reporting entity is not permitted to

adopt the guidance in an interim period, other than the first interim period of its fiscal year.

Adoption of the standard requires using

either a modified retrospective or a full retrospective approach.

Management is currently evaluating the effect of these provisions on

the Company’s financial position and results of operations

The Company is currently evaluating the impact that adoption of this guidance will have on

its consolidated financial statements and related disclosures.

2025-05—Financial Instruments—Credit Losses (Topic 326):

Measurement of Credit Losses for Accounts Receivable and Contract

July 2025, the Financial Accounting Standards Board (“FASB”) issued ASU 2025-05, Financial Instruments—Credit Losses

Measurement of Credit Losses for Accounts Receivable and Contract Assets .

The amendments refine the guidance in ASC

326 related to the measurement of expected credit losses for accounts receivable and contract assets arising from revenue transactions

accounted for under ASC 606.

The update clarifies the application of the current expected credit loss (“CECL”) model to such

assets, including the use of practical expedients and considerations in estimating expected credit losses over the contractual term of

amendments are effective for annual reporting periods beginning after December 15, 2026, including interim periods within those fiscal

years, with early adoption permitted.

The Company is currently evaluating the impact of adopting ASU 2025-05 on its consolidated financial

statements and related disclosures.

REVENUE FROM CONTRACTS WITH CUSTOMERS

2 unchanged sentences

Direct sales of goods or services

are accounted for under Topic 606, and short-term rentals are accounted for under Topic 842 which was adopted.

On March 1, 2019.

are accounted for under Topic 606, , and short-term rentals are accounted for under Topic 842 (which addresses lease accounting and was

adopted on March 1, 2019).

disclosed in the revenue recognition section of Note 2 – Accounting Polices, the Company adopted Topic 606 in accordance with the

6 unchanged sentences

TO THE CONSOLIDATED FINANCIAL STATEMENTS

adoption of Topic 842, also referred to above in Note 2, the Company accounts for revenue earned from rental activities where an

identified asset is transferred to the customer and the customer has the ability to control that asset for periods greater than one

To date none of the lease agreements entered into have been for periods longer than one year or greater, and the Company has

availed itself of the practical expedient to exclude such leases from ASC 842 accounting and instead has accounted for these leases

under ASC 606.

adopting Topic 842, also referred to above in Note 3, the Company is accounting for revenue earned from rental activities where an identified

asset is transferred to the customer and the customer has the ability to control that asset.

The Company recognizes revenue from its

device rental activities when persuasive evidence of a contract exists, the performance obligations have been satisfied, the transaction

price is fixed or determinable and collection is reasonably assured.

Performance obligations associated with device rental transactions

are satisfied over the rental period.

Rental periods are short-term in nature.

Therefore, the Company has elected to apply the practical

expedient which eliminates the requirement to disclose information about remaining performance obligations.

Payments are due from customers

at the completion of the rental, except for customers with negotiated payment terms, generally net 30 days or less, which are invoiced

and remain as accounts receivable until collected.

following table presents revenues from contracts with customers disaggregated by product/service:

OF REVENUES FROM CONTRACTS WITH CUSTOMERS

February 29, 2024

February 28, 2023

SCHEDULE OF REVENUES FROM CONTRACTS WITH CUSTOMERS

Device rental activities

Direct sales of goods and services

Direct sales of goods

Company operates as one reportable segment The Chief Executive Officer (“CEO”) serves as the Chief Operating Decision Maker

The CODM evaluates the Company’s performance based on consolidated net income.

This measure aligns with the

Company’s consolidated financial statements and serves as the basis for resource allocation and performance assessment.

of segment assets is reported on the balance sheet as total consolidated assets.

The CODM monitors profitability and strategic growth

initiatives on a consolidated basis, without disaggregating profit or loss into separate operating segments.

The Company determined there

are no significant segment expenses that require a separate disclosure.

The consolidated net income is used to assess overall company

performance, benchmark against industry standards, and identify profitability trends, which guides resource allocation and investment

in expansion and program upgrades.

The CODM also evaluates company performance using operating income.

Operating income provides the

CODM with a focused view of the Company’s profitability excluding the effects of financing activities, tax strategies, and other

non-operating items.

This measure enables the CODM to assess operational efficiency, monitor performance trends, and evaluate the effectiveness

of strategies aimed at revenue generation and cost management.

lease certain warehouses, and office space.

7 unchanged sentences

is a summary of our lease assets and liabilities at February 28, 2026 and February 28, 2025.

OF LEASE ASSETS AND LIABILITIES

SCHEDULE OF LEASE ASSETS AND LIABILITIES

Classification

February 29, 2024

February 28, 2023

Operating Lease Assets

Current Operating Lease Liability

Noncurrent Operating Lease Liabilities

Noncurrent Operating Lease

Total lease liabilities

6 unchanged sentences

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

lease cost and rent was $ 260,406 and $ 260,271 for both the twelve months ended February 29, 2024 and February 28, 2023, respectively.

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

TO THE CONSOLIDATED FINANCIAL STATEMENTS

lease cost and rent was $ 251,883 and $ 240,731 for both the twelve months ended February 28, 2026 and February 28, 2025, respectively.

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

a company’s capital stock at a discount.

On June 3, 2024 the Company acquired a $ 50,000 convertible note receivable from Nightingale

Intelligent Systems, Inc., a private Delaware corporation that provides unmanned aerial vehicles

(UAV) for commercial applications.

On January 3, 2025 the Company exchanged it’s convertible note receivable for :

1,770,840 Series

A preferred shares, 15,000 common shares and 165,000 common share warrants.

On February 28, 2025, there was a 10 :1 split .

now holds 177,084 Series A preferred shares, 1,500 common shares and 16,500 common share warrants (at a strike price of $ 0.80 /share).

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

at $ 50,000 bringing total investments at cost to $ 100,000 at February 28, 2026.

REVENUE EARNING DEVICES

earning devices consisted of the following:

EARNING DEVICES CONSISTED OF THE FOLLOWING

February 29, 2024

February 28, 2023

earning devices (RED) consisted of the following:

SCHEDULE OF REVENUE EARNING DEVICES

Revenue earning devices

Accumulated depreciation

( 3,257,668 )

( 2,292,172 )

the year ended February 28, 2026, the Company made total additions to revenue earning devices of $ 2,632,720 which were transferred from

The Company wrote- off assets with a value 748,243 and related accumulated depreciation $ 490,295 with a net book value of

$ 257,948 as a permanent impairment on revenue devices along with finished goods inventory on assets not yet deployed of $ 326,180 for

a total permanent impairment on revenue earning devices of $ 584,177 .

During the year ended February 28, 2023, the Company made total

additions to revenue earning devices of $ 871,334 which were transferred from inventory.

There was no permanent impairment on revenue

earning services for the year ended February 28, 2023.

expense for these devices was $ 681,042 and $ 345,178 for the years ended February 29, 2024 and February 28, 2023, respectively.

For the year ended February 28, 2026, the Company disposed of assets with a value $ 1,108,776 and related accumulated depreciation

$ 1,037,839 with a net book value of $ 70,937 for zero net proceeds..

the year ended February 28, 2025, the Company made total additions to revenue earning devices of $ 3,398,505 which were transferred from

There was no permanent impairment on revenue earning services for the year ended February 28, 2025.

and amortization for the years ended February 28, 2026, and February 28, 2025, are as follows:

SCHEDULE OF DEPRECIATION AND AMORTIZATION

and Amortization RED

Cost of Goods Sold

Operating expenses

Total Depreciation and

Amortization RED

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

TO THE CONSOLIDATED FINANCIAL STATEMENTS

assets consisted of the following:

OF FIXED ASSETS

February 29, 2024

February 28, 2023

SCHEDULE OF FIXED ASSETS

Machinery and equipment

9 unchanged sentences

the year ended February 28, 2026, the Company made additions to fixed assets of $ 10,863 and also additions through inventory transfers

of $ 125,340 and the Company sold a vehicle having a net book value of $ 4,574 for fair value proceeds of $ 21,000 and recorded a gain on

disposal of fixed assets of $ 16,426 .

The $ 21,000 proceeds were applied to loan payable -related party.

of $ 55,701 .

For the year ended February 28, 2026, the Company disposed of assets with a value $ 92,466 and related accumulated depreciation

$ 70,154 with a net book value of $ 22,312 for zero net proceeds.

the year ended February 28, 2025, the Company made additions to fixed assets of $ 23,724 and also additions through inventory transfers

of $ 107,836 .

expense was $ 190,747 and $ 132,937 for the years ended February 29, 2024 and February 28, 2023, respectively.

and amortization for the years ended February 28, 2026, and February 28, 2025, are as follows:

SCHEDULE OF DEPRECIATION AND AMORTIZATION IN OPERATING EXPENSES

and Amortization

Revenue earning devices

Total Depreciation and

Amortization included in operating expenses

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

47 unchanged sentences

the $800,000 commitment

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

TO THE CONSOLIDATED FINANCIAL STATEMENTS

August 27, 2020 the Company and the first investor referred to above consolidated the three separate agreements of February 1, 2019 for

6 unchanged sentences

but is subordinated to equipment financing on the products the Company leases to its customers.

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

TO THE CONSOLIDATED FINANCIAL STATEMENTS

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

15 unchanged sentences

As of February 28, 2025, the Company has accrued approximately $ 1,901,258 in Payments, of which $ 904,377

is in arrears.

No notices have been received by the Company.

is in arrears No notices have been received by the Company.

March 1, 2021 the first investor referred to above whose aggregate investment is $ 1,925,000 revised his agreements as follows:

18 unchanged sentences

RELATED PARTY TRANSACTIONS

the years ended February 29, 2024 and February 28, 2023, the Company made net repayments of $ 54,179 and $ 0 , respectively , to its loan

payable-related party.

the years ended February 28, 2026, and February 28, 2025, the Company had net (advances) repayments of ($ 132,268 ) and ($ 71,927 ), respectively,

to its loan payable-related party.

At February 28, 2026, the loan payable-related party was $ 461,633 and $ 329,365 at February 28, 2025.

As of February

29, 2024, included in the balance due to the related party is $ 140,013 of deferred salary all of which bears interest at 12 %.

As of February

28, 2023, included in the balance due to the related party is $ 108,000 of deferred salary all of which bears interest at 12 %.

interest included at February 29, 2024 was $ 32,468 (February 28, 2023- $ 15,660 ).

the year ended February 28, 2023 pursuant to the amended Employment Agreement with its Chief Executive Officer the Company accrued $ 1,521,000

as incentive compensation plan payable with a corresponding recognition of stock based compensation due to the expectation of additional

awards being met.

In January 2024 the Company added an Objective 10 which required the accrual of $ 2,000,000 .

There was also a net adjustment

reduction of $ 479,000 for objectives accrued for but not met.

February 28, 2023, the balance of incentive compensation plan payable was $ 979,000 .

This will be payable in Series G Preferred Shares

which are redeemable at the Company’s option at $ 1,000 per share.

the year ended February 29, 2024, the Company accrued $ 538,767 in deferred compensation for the CEO.

This was in accordance with a December

2023 board action allowing for $ 1 million of discretionary compensation.

The Company had already recorded $ 461,233 in bonus compensation.

There was no deferred compensation for the year ended February 28, 2023, the Company recorded a bonus to the CEO of $ 280,908 .

the years ended February 29, 2024 and February 28, 2023, the Company was charged $ 2,810,839

and $ 3,578,981 ,

respectively in consulting fees for research and development to a company partially owned by a principal shareholder included in

research and development expenses.

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 February 29, 2024 and February 28, 2023 the

balance due to this company was $ 76,532 .

OTHER DEBT – VEHICLE LOANS

December 2016, RAD entered into a vehicle loan for $ 47,704 secured by the vehicle.

The loan is repayable over 5 years maturing November

9, 2021, and repayable $ 1,019 per month including interest and principal.

In November 2017, RAD entered into another vehicle loan secured

by the vehicle for $ 47,661 .

The loan is repayable over 5 years, maturing October 24, 2022 and repayable at $ 923 per month including interest

and principal.

The principal repayments made were $ 0 for both the year ended February 28, 2022 and February 28, 2021.

Regarding the second

vehicle loan, the vehicle was returned at the end of fiscal 2019 and the car was subsequently sold by the lender for proceeds of $ 21,907

which went to reduce the outstanding balance of the loan.

A loss of $ 3,257 was recorded as well.

A balance of $ 21,578 remains on this

vehicle loan at both February 28, 2023 and February 29, 2022.

For the first vehicle loan, the vehicle was retired in 2020, the proceeds

of the disposal of $ 18,766 was applied against the balance of the loan with a $ 5,515 gain on the remaining asset value of $ 13,251 .

balance of $ 16,944 remains on this vehicle loan at both February 28, 2023 and February 28, 2022.

The remaining total balances of the

amounts owed on the vehicle loans were $ 38,522 and $ 38,522 as of February 29, 2024 and February 28, 2023, respectively, of which all

were classified as current.

As of February 28, 2026, included in the balance due to the related party is $ 285,638 of deferred salary all of which bears interest

As of February 28, 2025, included in the balance due to the related party is $ 190,013 of deferred salary all of which bears interest

The accrued interest included at February 28, 2026, was $ 79,268 (February 28, 2025- $ 51,575 ).

the year ended February 28, 2026, the Company a net repayment of $ 390,744 in deferred compensation for the CEO.

This would bring his

annual bonus for the year ended February 28, 2026, to $ 1.0 million.

For the fiscal year ended February 28, 2025, the Company paid out

$ 1,390,744 to the CEO.

During the year ended February 28, 2025, the Company a net accrual of $ 1,663,833 in deferred compensation for

This would bring his annual bonus for the year ended February 28, 2025, to $ 2.5 million.

For the fiscal year ended February

28, 2025, the Company paid out $ 836,167 to the CEO.

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

of discretionary compensation.

the years ended February 28, 2026, and February 28, 2025, the Company accrued 1,500 Series G shares to be issued totaling $ 1,500,000

and 1,500 Series G preferred shares to be issued totaling $ 1,500,000 , respectively, both per Company resolution.

The Series G preferred

shares are redeemable at $ 1,000 per share and will be issued by the Company at the appropriate time.

The balance of Incentive Compensation

Plan Payable at February 28, 2026, was $ 5,500,000 and the balance February 28, 2025, was $ 4,000,000 .

the years ended February 28, 2026, and February 28, 2025, the Company was charged $ 2,576,111 and $ 2,541,180 , respectively in consulting

fees for research and development to a company partially owned by a principal shareholder included in research and development expenses.

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 February 28, 2026, and February 28, 2025, the balance due to this company was $ 160,557 and $ 76,532 ,

respectively.

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

2 unchanged sentences

payable at February 28, 2026 consisted of the following:

OF LOANS PAYABLE

Interest Rate

SCHEDULE OF LOANS PAYABLE

July 18, 2016

July 18, 2017

Promissory note

December 10, 2020

March 1, 2027

Promissory note

December 10, 2020

March 1, 2027

Promissory note

December 10, 2020

December 10, 2024

Promissory note

December 14, 2020

March 1, 2027

Promissory note

December 30, 2020

March 1, 2027

Promissory note

January 1, 2021

March 1, 2027

Promissory note

January 1, 2021

March 1, 2027

Promissory note

January 14, 2021

March 1, 2027

Promissory note

February 22, 2021

March 1, 2027

Promissory note

March 1, 2021

March 1, 2027

Promissory note

July 12, 2021

July 26, 2026

Promissory note

September 14, 2021

September 14, 2027

Promissory note

July 28, 2022

March 1, 2027

Promissory note

August 30, 2022

August 30,2027

Promissory note

September 7, 2022

March 1, 2027

Promissory note

September 8, 2022

March 1, 2027

Promissory note

October 13, 2022

March 1, 2027

Promissory note

October 28, 2022

October 31, 2026

Promissory note

November 9, 2022

October 31, 2026

Promissory note

November 10, 2022

October 31, 2026

Promissory note

November 15, 2022

October 31, 2026

Promissory note

January 11, 2023

October 31, 2026

Promissory note

February 6, 2023

October 31, 2026

Promissory note

October 31, 2026

Promissory note

April 20, 2023

October 31, 2026

Promissory note

October 31, 2026

Promissory note

October 27, 2023

October 31, 2026

Promissory note

November 30, 2023

April 30, 2027

Purchase Agreement

current portion of loans payable

( 13,879,479 )

discount on non-current loans payable

March 8, 2024

August 8, 2027

Purchase Agreement

July 26, 2025

July 26, 2026

Promissory note

August 7,2025

August 7,2026

Promissory note

August 25, 2025

August 25, 2026

Promissory note

August 25, 2025

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

December 9, 2025

December 9, 2026

Promissory note

December 17, 2025

September 23, 2026

Business loan

December 22, 2025

December 22, 2026

Convertible note

December 27, 2025

December 27, 2026

Promissory note

January 12, 2026

January 12, 2027

Promissory note

January 27, 2026

January 27, 2027

Promissory note

February 2, 2026

February 2, 2027

Promissory note

February 19, 2026

February 19, 2027

Convertible note

February 24, 2026

February 24, 2027

Promissory note

current portion of loans

( 9,483,914 )

Non-current loans payable, net of discount

on non-current loans payable

loans payable, net of discount

Current portion of loans payable

discount on current portion of loans payable

Current portion of loans payable, net of discount

on current portion of loans payable

portion of loans payable, net of discount

of February 28, 2026 , all long term debt matures in the fiscal year ending February 29, 2028.

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

9 unchanged sentences

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

3 unchanged sentences

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

$ 100,000 and $ 300,000 has been repaid

the three and nine months ended November 30, 2023.

The balance at November 30,2023 is now $ 2,754,338 .

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 .

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

$ 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 .

$ 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.

On November 24, 2025, the Company entered into

an exchange agreement where the holder can exchange all or part of the principal and interest of the note into common shares at an

exchange amount of 90 % of the previous 5 day’s lowest bid price.

On February 8, 2026, the holder exchanged $ 192,000 in accrued

interest for 8,000,000 common shares at fair value of $ 320,000 with a loss on settlement of $ 128,000 .

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

$ 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 $ 182,500 .

The loan is presently in default and the Company

is working on a extension with the lender.

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 Company was charged

a penalty of $ 24,510 which it added the loan with a corresponding adjustment to interest expense.

The Company repaid the loan in

full $ 190,155 with accrued interest of $ 104,046 .

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

and associated accrued interest of $ 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 .

On December 14, 2023,

the parties extended the maturity date from December 14.

2023 date to March 1,2027.

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

6 unchanged sentences

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

For the year ended February 29, 2024, the Company recorded amortization

expense of $ 120,023 , with an unamortized discount of $ 73,491 at 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 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.

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 year ended February 28, 2026, the Company recorded amortization expense of $ 138 , with

an unamortized discount of $ 0 at February 28, 2026.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

4 unchanged sentences

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

4 unchanged sentences

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.

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

TO THE CONSOLIDATED FINANCIAL STATEMENTS

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

6 unchanged sentences

to paid in capital.

For the year ended February 29, 2024, the Company recorded amortization expense of $ 148,493 , with an unamortized

discount of $ 90,443 at February 29, 2024.

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.

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

TO THE CONSOLIDATED FINANCIAL STATEMENTS

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.

year ended February 28, 2026, the Company recorded amortization expense of $ 144 , with an unamortized discount of $ 0 at February 28,

2026.The loan is fully amortized.

Through an exchange agreement on February 11, 2025, the Company repaid $ 162,000 in principal st

through the issuance of 600,000 common shares.

On March 28, 2025 the Company entered into an exchange agreement where the holder

can exchange all or part of the principal and interest of the note into common shares at an exchange amount of 90 % of the previous

5 day’s lowest VWAP price.

On March 5, 2025 the Company repaid $ 150,500 in loan principal as well as $ 275,000 in accrued interest

(all totaling $ 425,500 ) was repaid on March 5, 2025 through the issuance of 1,850,000 common shares at a fair value of $ 444,000 with

a loss on settlement of $ 18,500 .

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

5 unchanged sentences

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

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.

For the year ended February 29, 2024, the Company recorded amortization expense of

$ 559,061 , with an unamortized discount of $ 553,199 at February 29, 2024.

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.

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 same.

For the year ended February 28, 2026, the Company recorded amortization expense of $ 700 , with an unamortized

discount of $ 0 at February 28, 2026.

The loan is fully amortized.

On November 24, 2025, the Company entered into an exchange agreement

where the holder can exchange all or part of the principal and interest of the note into common shares at an exchange amount of 90 %

of the previous 5 day’s lowest bid price.

unsecured note may be pre-payable at any time.

11 unchanged sentences

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.

On March 28, 2025 the Company

entered into an exchange agreement where the holder can exchange all or part of the principal and interest of the note into common

shares at an exchange amount of 90 % of the previous 5 day’s lowest VWAP price.

For the year ended February 28, 2026, the Company

has issued 36,500,000 common shares at fair market value of $ 4,365,500 to repay $ 3,840,500 in accrued interest with a loss on settlement

of debt of $ 525,000 .

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

10 unchanged sentences

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

ended February 29, 2024, the Company recorded amortization expense of $ 756,550 , with an unamortized discount of $ 37,668 at February

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 year ended February 28, 2026, the Company recorded

amortization expense of $ 964 , with an unamortized discount of $ 0 at February 28, 2026.

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

On November 24, 2025, the Company entered into an exchange agreement where the holder can exchange all or part of price the

principal and interest of the note into common shares at an exchange amount of 90 % of the previous 5 day’s lowest bid price.

During the period the holder exchanged $ 1,416,000 in accrued interest for 25,000,000 common shares at a fair value of $ 1,680,000

with a loss on settlement of $ 264,000 .

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

TO THE 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.

1 unchanged sentence

The loan is unsecured.

For the year ended February 29, 2024 there were repayments

of $ 108,000 on the note.

During the six months ended August 31, 2025 the Company

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 .

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

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

At February 28, 2026 the outstanding

principal and interest was $ 0 .

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

5 unchanged sentences

to paid in capital.

For the year ended February 29, 2024, the Company recorded amortization expense of $ 575,036 , with an unamortized

discount of $ 639,395 at February 29, 2024.

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

to accumulated deficit.

A $ 66,846 unamortized discount remained.

For the year ended February 28, 2026, the Company recorded amortization

expense of $ 8,856 , with an unamortized discount of $ 16,325 at February 28, 2026.

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.

24, 2025, the Company entered into an exchange agreement where the holder can exchange all or part of the principal and interest

of the note into common shares at an exchange amount of 90 % of the previous 5 day’s lowest bid price.

$ 170,000 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.

For the year ended

February 29, 2024, the Company recorded amortization expense of $ 9,026 , with an unamortized discount of $ 0 at February 29, 2024.

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.

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

TO THE CONSOLIDATED FINANCIAL STATEMENTS

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.

2 unchanged sentences

Principal and interest due at maturity.

For the year ended February

29, 2024, the Company recorded amortization expense of $ 19,333 , with an unamortized discount of $ 11,535 at February 29, 2024.

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.

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

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

On November 24, 2025, the Company entered into

an exchange agreement where the holder can exchange all or part of the principal and interest of the note into common shares at an

exchange amount of 90 % of the previous 5 day’s lowest bid price.

$ 400,000 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.

For the year ended

February 29, 2024, the Company recorded amortization expense of $ 27,821 , with an unamortized discount of $ 0 at February 29, 2024.

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.

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.

3 unchanged sentences

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

For the year ended

February 29, 2024, the Company recorded amortization expense of $ 36,739 , with an unamortized discount of $ 0 at February 29, 2024.

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.

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 THE CONSOLIDATED FINANCIAL STATEMENTS

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

2 unchanged sentences

due at maturity.

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

year ended February 29, 2024, the Company recorded amortization expense of $ 32,910 , with an unamortized discount of $ 0 at February

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.

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 .

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

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 as secured loan agreement 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

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 .

For the year ended February 29, 2024, the Company recorded amortization expense of $ 11,950 , with an

unamortized discount of $ 336,074 at February 29, 2024.

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 .

For the year ended February 29, 2024, the Company recorded amortization expense of $ 11,799 , with an unamortized discount of $ 336,639

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.

On November 24, 2025, the

Company entered into an exchange agreement where the holder can exchange all or part of the principal and interest of this secured

loan agreement into common shares at an exchange amount of 90 % of the previous 5 day’s lowest bid price.

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 year ended February 28,

2026, the Company recorded amortization expense of $ 18,483 , with an unamortized discount of $ 14,428 at February 28, 2026.

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

For the year ended February 29, 2024, the Company recorded amortization expense of $ 10,897 , with an unamortized discount of $ 339,984

at February 29, 2024.

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

to accumulated deficit.

A $ 48,126 unamortized discount remained.

For the year ended February 28, 2026, the Company recorded amortization

expense of $ 18,573 , with an unamortized discount of $ 14,502 at February 28, 2026.

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 .

For the year ended February 29, 2024, the Company recorded amortization expense of $ 12,025 , with an unamortized discount of $ 335,790

at February 29, 2024.

On March 1, 2024, the unamortized relative fair value discount of $ 291,694 was removed with a corresponding adjustment to accumulated

A $ 48,290 unamortized discount remained.

For the year ended February 28, 2026, the Company recorded amortization expense of

$ 18,637 , with an unamortized discount of $ 18,647 at February 28, 2026.

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 .

For the year ended February 29, 2024, the Company recorded amortization expense of $ 12,252 , with an unamortized discount of $ 334,937

at February 29, 2024.

On March 1, 2024, the unamortized relative fair value discount of $ 287,814 was removed with a corresponding adjustment to accumulated

A $ 47,976 unamortized discount remained.

For the year ended February 28, 2026, the Company recorded amortization expense of

$ 18,515 , with an unamortized discount of $ 14,456 at February 28, 2026.

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 .

For the year ended February 29, 2024, the Company recorded amortization expense of $ 11,790 , with an unamortized discount of $ 336,636

at February 29, 2024.

On March 1, 2024, the unamortized relative fair value discount of $ 286,813 was removed with a corresponding adjustment to accumulated

A $ 48,124 unamortized discount remained.

For the year ended February 28, 2026, the Company recorded amortization expense of

$ 18,573 , with an unamortized discount of $ 14,502 at February 28, 2026.

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 .

For the year ended February 29, 2024, the Company recorded amortization expense of $ 11,015 , with an unamortized discount of $ 335,230

at February 29, 2024.

On March 1, 2024, the unamortized relative fair value discount of $ 288,342 was removed with a corresponding adjustment to accumulated

A $ 48,294 unamortized discount remained.

For the year ended February 28, 2026, the Company recorded amortization expense of

$ 18,638 , with an unamortized discount of $ 14,557 at February 28, 2026.

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

1 unchanged sentence

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 .

For the year ended February 29, 2024, the Company recorded amortization expense of $ 8,618 , with an unamortized discount of $ 343,601 at

February 29, 2024.

On March 1, 2024, the unamortized relative fair value discount of $ 286,821 was removed with a corresponding adjustment to accumulated

A $ 48,409 unamortized discount remained.

For the year ended February 28, 2026, the Company recorded amortization expense of

$ 18,683 , with an unamortized discount of $ 14,594 at February 28, 2026.

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 .

For the year ended February 29, 2024, the Company recorded amortization expense of $ 174 , with an unamortized discount of $ 398,809 at

February 29, 2024.

On March 1, 2024, the unamortized relative fair value discount of $ 294,824 was removed with a corresponding adjustment to accumulated

A $ 48,777 unamortized discount remained.

For the year ended February 28, 2026, the Company recorded amortization expense of

$ 18,824 , with an unamortized discount of $ 14,711 at February 28, 2026.

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 .

For the year ended February 29, 2024, the Company recorded amortization expense of $ 8,661 , with an unamortized discount of $ 303,098 at

February 29, 2024.

November 30, 2023, the Company entered into an agreement where the lender will buy 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 .

On March 1, 2024, the unamortized relative fair value discount of $ 348,831 was removed with a corresponding adjustment to accumulated

A $ 49,978 unamortized discount remained.

For the year ended February 28, 2026, the Company recorded amortization expense of

$ 19,288 , with an unamortized discount of $ 15,096 at February 28, 2026.

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 .

On March 1, 2024, the unamortized relative fair value discount of $ 254,487 was removed with six a corresponding adjustment to accumulated

A $ 48,611 unamortized discount remained.

For the year ended February 28, 2026, the Company recorded amortization expense of

$ 18,761 , with an unamortized discount of $ 14,657 at February 28, 2026.

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

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

Default rate of 15 % per annum calculated daily on any missed monthly payment and

after original 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 Company have missed the subsequent monthly payments.

On April 16, 2025, the

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

terms and conditions remaining the same.

On April 30,2026, the parties extended the

maturity to April 30, 2027, with the default rate still applicable after April 30, 2025.

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.

As the proceeds were received on December 1, 2023 , this loan was recorded on December 1, 2023.

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.

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

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

The August 2024 through to August 2025

payments have not been made and the note was not repaid at original maturity.

On August 8, 2025 the parties extended the maturity

to August 8, 2027 , with the default rate still applicable after August 8, 2025.

$ 165,000 note may be pre-payable at any time.

The note balance includes an original issue discount of $ 15,000 .

Principal and interest

due at maturity.

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

The discount was

$ 245,000 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.

The discount was

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

The note balance includes an original issue discount of $ 12,500 .

Principal and interest

due at maturity.

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

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 year ended February 28, 2026, the Company

recorded amortization expense of $ 192,422 , with an unamortized discount of $ 59,207 at February 28, 2026.

For the year ended February

28, 2026, the Company has repaid $ 617,348 .

$ 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 year ended

February 28, 2026, the Company recorded amortization expense of $ 19,988 , with an unamortized discount of $ 30,012 at February 28,

$ 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 year ended

February 28, 2026, the Company recorded amortization expense of $ 7,665 , with an unamortized discount of $ 17,335 at February 28, 2026.

$ 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 year ended

February 28, 2026, the Company recorded amortization expense of $ 7,229 , with an unamortized discount of $ 17,771 at February 28, 2026.

$ 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 year ended

February 28, 2026, the Company recorded amortization expense of $ 10,704 , with an unamortized discount of $ 39,296 at February 28,

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

TO THE CONSOLIDATED FINANCIAL STATEMENTS

$ 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 year ended February

28, 2026, the Company recorded amortization expense of $ 10,410 , with an unamortized discount

of $ 39,590 at February 28, 2026.

December 17, 2025, the Company entered into a business loan secured by a general security

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

The Company received net

proceeds of $ 300,000 after fees of $ 14,000 and a financing fee of $ 91,060 for total fees

of $ 105,060 .

The Company must repay $ 405,060 , in 4 weekly payments of $ 2,276.50 and 36 weekly

payments of $ 10,998.72 .

The loan is personally guaranteed by the CEO.

For the year ended

February 28, 2026, the Company recorded amortization expense of $ 19,478 with an unamortized

discount of $ 85,582 at February 28, 2026.

For the year ended February 28, 2026, the Company

has repaid $ 75,098 .

convertible note that may be redeemed at a premium at any time.

The Company received proceeds of $ 440,000 , with fees of $ 10,000 and

an original issue discount of $ 45,000 .

Principal and interest due at maturity.

For the year ended February 28, 2026, the Company

recorded amortization expense of $ 9,705 , with an unamortized discount of $ 45,295 at February 28, 2026.

After 180 days , the note

and interest is convertible at a conversion price of 80 % of the lowest traded price in the 15 prior trading days.

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

For the year ended February 28, 2026, the Company recorded amortization expense of $ 4,122 ,

with an unamortized discount of $ 20,878

at February 28, 2026.

$ 330,000 note may be pre-payable at any time.

The note balance includes an original issue

discount of $ 30,000 .

Principal and interest due at maturity.

Secured by a general security

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

For the year ended

February 28, 2026, the Company recorded amortization expense of $ 3,864 , with an unamortized

discount of $ 26,136 at February 28, 2026.

$ 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.

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

ended February 28, 2026, the Company recorded amortization expense of $ 1,769 , with an unamortized discount of $ 18,231 at February

$ 330,000 note may be pre-payable at any time.

The note balance includes an original issue

discount of $ 30,000 .

Principal and interest due at maturity.

Secured by a general security

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

For the year ended

February 28, 2026, the Company recorded amortization expense of $ 1,863 , with an unamortized

discount of $ 28,137 at February 28, 2026.

convertible note that may be redeemed at a premium at any time.

The Company received proceeds of $ 142,500 , with fees of $ 7,500 and

an original issue discount of $ 15,000 .

Principal and interest due at maturity.

For the year ended February 28, 2026, the Company

recorded amortization expense of $ 484 , with an unamortized discount of $ 22,016 at February 28, 2026.

After 180 days , the note and

interest is convertible at a conversion price of 80 % of the lowest traded price in the 15 prior trading days.

$ 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.

Secured by a general security

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

For the nine months ended

February 28, 2026, the Company recorded amortization expense of $ 188 , with an unamortized

discount of $ 19,812 at February 28, 2026.

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

TO THE CONSOLIDATED FINANCIAL STATEMENTS

STOCKHOLDERS’ DEFICIT

4 unchanged sentences

board of directors has designated 5,000 shares of Series B Convertible, Redeemable Preferred Stock with a par value of $ 0.001 per share.

As of the date of this report, there are no shares of Series B Preferred Stock outstanding.

The Series B Convertible Preferred Stock

are redeemable at $ 1,200 per share, rank in priority to common stock and common stock equivalents upon liquidation of the Company, have

voting rights on a converted basis and receives quarterly dividends of 8 %.

Each holder may, at any time and from time to time convert

all, but not less than all, of their shares of Series B Convertible, Redeemable Preferred Stock into a number of fully paid and nonassessable

shares of common stock determined by dividing the redemption value by the Conversion Price.

The Conversion price is equal to the lower

of (1) a fixed price equaling the closing bid price of the Common Stock on the trading day immediately preceding the date of the acquisition

As of February 28, 2026 , there are no shares of Series B Preferred Stock outstanding.

The Series B Convertible Preferred Stock are redeemable

at $ 1,200 per share, rank in priority to common stock and common stock equivalents upon liquidation of the Company, have voting rights

on a converted basis and receives quarterly dividends of 8 %.

Each holder may, at any time and from time to time convert all, but not

less than all, of their shares of Series B Convertible, Redeemable Preferred Stock into a number of fully paid and nonassessable shares

of common stock determined by dividing the redemption value by the Conversion Price.

The Conversion price is equal to the lower of (1)

a fixed price equaling the closing bid price of the Common Stock on the trading day immediately preceding the date of the acquisition

of the shares and (2) the lowest traded price of the Common Stock during the ten (10) calendar days immediately preceding, but not including,

33 unchanged sentences

of the Holder;

repay, repurchase or offer to repay, repurchase or otherwise acquire of any shares of its Common Stock, Common Stock Equivalents or Junior

Securities, other than as to the Conversion Shares as permitted or required under the Transaction Documents:

(e) pay cash dividends or

distributions on Junior Securities of the Corporation;

f) enter into any transaction with any Affiliate of the Corporation which would

be required to be disclosed in any public filing with the Commission, unless such transaction is made on an arm’s-length basis

and expressly approved by a majority of the disinterested directors of the Corporation (even if less than a quorum otherwise required

(d) repay, repurchase or offer to repay, repurchase or otherwise acquire of any shares of its Common Stock, Common Stock

Equivalents or Junior Securities, other than as to the Conversion Shares as permitted or required under the Transaction Documents:

pay cash dividends or distributions on Junior Securities of the Corporation;

f) enter into any transaction with any Affiliate of the

Corporation which would be required to be disclosed in any public filing with the Commission, unless such transaction is made on an arm’s-length

basis and expressly approved by a majority of the disinterested directors of the Corporation (even if less than a quorum otherwise required

for board approval);

2 unchanged sentences

TO THE CONSOLIDATED FINANCIAL STATEMENTS

C Convertible, Redeemable Preferred Stock

board of directors has designated 1,000

shares of Series C Convertible, Redeemable Preferred Stock with a par value of $ 0.001

As of the February 28, 2026, there are 417

shares of Series C Preferred Stock outstanding.

The Series C Convertible Preferred Stock are redeemable at $ 1,200

per share, rank in priority to common stock and common stock equivalents upon liquidation of the Company, have voting rights on a

converted basis and receives quarterly dividends of 12 %.

Each holder may, after 180 days after issuance, at any time and from time to time convert all, but not less than all, of their

shares of Series C Convertible, Redeemable Preferred Stock into a number of fully paid and nonassessable shares of common stock

determined by dividing the redemption value by the Conversion Price.

Conversion price is equal to the lower of (1) a fixed price equaling the closing bid price of the Common Stock on the trading day

immediately preceding the date of the acquisition of the shares and (2) the lowest traded price of the Common Stock during the ten

(10) calendar days immediately preceding, but not including, the Conversion Date.

Following an event of default,” as defined

in the Purchase Agreement, the Conversion price shall equal the lower of:

(a) the then applicable Conversion Price;

or (b) a price

per share equaling ninety percent (90%) of the lowest traded price for the Company’s common stock during the ten (10) Trading

Days immediately preceding, but not including, the Conversion Date.

share of Preferred Stock shall be entitled to receive, and the Corporation shall pay, cumulative dividends of twelve percent (12%)

per annum, payable quarterly, beginning on the Original Issuance Date and ending on the date that such share of Preferred Share has

been converted or redeemed.

Dividends may be paid in cash or in shares of Preferred Stock at the discretion of the Company.

dividends that are not paid a shall continue to accrue and shall entail a late fee, which must be paid in cash, at the rate of 14%

per annum or the lesser rate permitted by applicable law which shall accrue and compound daily from the dividend payment date

through and including the date of actual payment in full.

On the one hundred eightieth day following the issue date of this

Preferred Stock the Company shall have the obligation to redeem all outstanding Series Preferred Shares for one hundred nine and one

half percent (109.5%) of the stated value, plus any accrued but unpaid dividends, plus all other amounts due to the Holder pursuant

to the Certificate of Designation and/or any Transaction Documents (“Redemption Date”).

Prior to the Redemption Date,

the Company at its discretion and on three (3) Trading Days’ written notice, may redeem all outstanding Preferred Shares for

one hundred nine and one half percent (109.5%) of the stated value, plus any accrued but unpaid dividends, plus all other amounts

due to the Holder pursuant to the Certificate of Designation and/or any Transaction Documents.

the date of issuance until the date no shares of Series C Preferred Stock are issued and outstanding, unless Holders of at least 75%

in Stated Value of the then outstanding shares of Preferred Stock shall have otherwise given prior written consent, the Corporation shall

not, and shall not permit any of the Subsidiaries to, directly or indirectly:

(a) other than Permitted Indebtedness, enter into, create,

incur, assume, guarantee or suffer to exist any indebtedness for borrowed money of any kind, including but not limited to, a guarantee,

on or with respect to any of its property or assets now owned or hereafter acquired or any interest therein or any income or profits

(b) other than Permitted Liens, enter into, create, incur, assume or suffer to exist any Liens of any kind, on or with respect

to any of its property or assets now owned or hereafter acquired or any interest therein or any income or profits therefrom;

its charter documents, including, without limitation, its articles of incorporation and bylaws, in any manner that materially and adversely

affects any rights of the Holder;

(d) repay, repurchase or offer to repay, repurchase or otherwise acquire of any shares of its Common

Stock, Common Stock Equivalents or Junior Securities, other than as to the Conversion Shares as permitted or required under the Transaction

(e) pay cash dividends or distributions on Junior Securities of the Corporation;

f) enter into any transaction with any Affiliate

of the Corporation which would be required to be disclosed in any public filing with the Commission, unless such transaction is made

on an arm’s-length basis and expressly approved by a majority of the disinterested directors of the Corporation (even if less than

a quorum otherwise required for board approval);

or(g) enter into any agreement with respect to any of the foregoing.

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

TO THE CONSOLIDATED FINANCIAL STATEMENTS

E Preferred Stock

board of directors has designated 4,350,000 shares of Series E Preferred Stock.

As of the date of this report, there are 3,350,000 shares

of Series E Preferred Stock outstanding.

As of February 28, 2026, there are 3,350,000 shares of

Series E Preferred Stock outstanding.

The Series E Preferred Stock ranks subordinate to the Company’s common stock as to distributions

9 unchanged sentences

board of directors has designated 10,000 shares of Series F Convertible Preferred Stock with a par value of $ 1.00 per share.

date of this report, there are 2,533 shares of Series F Convertible Preferred Stock outstanding.

The Series F Convertible Preferred Stock

is non-redeemable, does not have rights upon liquidation of the Company, does not have voting rights and does not receive dividends.

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

Stock 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.

So long as any shares

of Series F Convertible Preferred Stock are outstanding, the Company shall not, without first obtaining the approval of the majority

of the holders:

(a) alter or change the rights, preferences or privileges of any capital stock of the Company so as to affect adversely

the Series F convertible preferred stock;

As of February

28, 2026 , there are 2,513 shares of Series F Convertible Preferred Stock outstanding.

The Series F Convertible Preferred Stock is non-redeemable,

does not have rights upon liquidation of the Company, does not have voting rights and does not receive dividends.

Each holder may, at

any time and from time to time convert all, but not less than all, of their shares of Series F Convertible Preferred Stock 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.

So long as any shares of Series F Convertible

Preferred Stock are outstanding, the Company shall not, without first obtaining the approval of the majority of the holders:

or change the rights, preferences or privileges of any capital stock of the Company so as to affect adversely the Series F convertible

preferred stock;

(b) create any Senior Securities;

(d) do any act or thing

not authorized or contemplated by the Certificate of Designation which would result in any taxation with respect to the Series F Convertible

Preferred Stock under Section 305 of the Internal Revenue Code of 1986, as amended, or any comparable provision of the Internal Revenue

Code as hereafter from time to time amended, (or otherwise suffer to exist any such taxation as a result thereof).

(d) do any act or thing not authorized or contemplated

by the Certificate of Designation which would result in any taxation with respect to the Series F Convertible Preferred Stock under Section

305 of the Internal Revenue Code of 1986, as amended, or any comparable provision of the Internal Revenue Code as hereafter from time

to time amended, (or otherwise suffer to exist any such taxation as a result thereof).

G Preferred Stock

7 unchanged sentences

TO THE CONSOLIDATED FINANCIAL STATEMENTS

B Convertible, Redeemable Preferred Stock

April 27, 2024, in connection with a Share Purchase Agreement the Company created a new class Of Series B Convertible Redeemable with

C Convertible, Redeemable Preferred Stock (Temporary Equity)

February 10, 2025, in connection with a Share Purchase Agreement the Company created a new class of Series C Convertible Redeemable with

1,000 authorized shares.

exchange for 306 Series C Convertible Redeemable Preferred Shares (“Series C”), the Company received gross proceeds of $ 306,000

with net proceeds of $ 278,580 after paying $ 6,000 in legal fees and $ 21,420 in broker fees both charged against paid in capital.

Company must redeem the shares at stated capital of 1,200 per share and a 1.095 premium at 180 days after issuance.

The Company recorded

the 306 outstanding shares at its redemption value of $ 402,084 at February 28, 2025, with the offsetting adjustment to paid in capital.

During the year the Company issued 12 % quarterly dividends in 44 Series C shares with a value of $ 58,100 .

The Company failed to redeem

the Series C shares on the August 9, 2025 redemption date and a penalty of 114 Series C shares with a value of $ 149,307 was recorded.

In August 2025 the Company redeemed 95 Series C shares for $ 125,000 including a deemed dividend of $ 29,871 .

In September 2025 the Company

failed to convert a conversion notice of 96 shares.

This conversion was withdrawn inI December 2025 and a new conversion for 85 Series

C shares with a value of $ 111,690 including a dividend of $ 84,690 with a corresponding adjustment to paid in capital .In exchange for

the converted Series C shares , the Company issued 1,994,464 common shares.

In January 2026, the Company failed to convert a conversion

notice of 80 shares.

On March 19, 2026 the Company entered into an agreement with the investor whereby the parties agreed to reduce the

penalty on the September 2025 and January 2026 failed conversion to 133 Series C shares at a value of $175,140 ( The penalty was reduced

from 345 Series C shares to 133 Series C shares) .

The parties agreed on the Series C share balance at February 28, 2026 to be 417 series

In addition the parties agreed to issue an additional 222 Series C shares for proceeds of $200,000 and fees of $22,000.

shares have a redemption value of $291.708.

Also on March 19, 2026 ,the parties agreed to convert 165 Series C shares at a value of $198,000

for 13,550,625 common shares.

At February 28, 2026 and February 28, 2025 there are 417 and 306 outstanding Series C shares .

F Convertible Preferred Stock

2 unchanged sentences

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

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.

On April 30, 2024 the Company increased

authorized to 10,000 Series F Preferred Shares.

or Preferred Stock Activity

the year ended February 29, 2024 Series F shareholders had the following activity:

total of 244 Series F Preferred Stock Warrants issued along with debt to a lender.

April 30, 2024 the Company increased authorized shares to 10,000 Series F Preferred Shares.

F Preferred Stock Activity:

the year ended February 28, 2026 Series F shareholders there was no activity.

the year ended February 28, 2025 Series F shareholders had the following activity:

Series F Preferred Share and a total of 366 Series F Preferred Stock Warrants issued along with debt to a lender.

Series F preferred shareholder exchanged 20 Series F preferred shares for a $ 400,000 note payable.

(see Note 11).

The Company record

an adjustment to the par value of the shares of $ 20 , paid -in capital for the carrying value of the shares of $ 65,793 with the remaining

amount of $ 334,187 a deemed dividend.

both February 28, 2026 and February 28, 2025 there are 2513 outstanding Series F preferred stock.

Series F Preferred Stock

both February 28, 2026 and February 28, 2025 there remains 46 issuable Series F preferred stock at a value of $ 99,086 .

October 28, 2022 as part of a $ 4,000,000 loan facility (described in Note 11) the Company extended the maturity date of the 329 existing

Series F Preferred Warrants currently held by the lender to October 31, 2033 from October 31, 2026.

of Preferred Stock Warrant Activity

OF PREFERRED STOCK WARRANT ACTIVITY

Number of Series F Preferred Warrants

Weighted Average Exercise Price

Weighted Average Remaining Years

SUMMARY OF PREFERRED STOCK WARRANT ACTIVITY

Exercise Price

Outstanding at March 1, 2025

5 unchanged sentences

Company increased authorized common shares from 5,000,000,000 to 6,000,000,000 on July 8, 2022, from 6,000,000,000 to 7,225,000,000 on

March 19, 2023 from 7,225,000,000 to 10,000,000,000 on August 30, 2023, and from 10,000,000,000 to 12,500,000,000 on March 22, 2024.

March 19, 2023 from 7,225,000,000 to 10,000,000,000 on August 30, 2023, from 10,000,000,000 to 12,500,000,000 on March 22, 2024., from

12,500,000,000 to 15,000,000,000 on October 4, 2024 from 15,000,000,000 to 20,000,000,000 on February 21, 2025, from 20,000,000,000 to

23,000,000,000 on July 25, 2025 and from 23,000,000,000 to 27,500,000,000 on October 15, 2025.

On March 19, 2026, the Board of Directors

and the holder of a majority of the Company’s voting power approved, by written consent, a decrease in the Company’s authorized common

shares from 27,500,000,000 to 12,000,000,000 .

The Certificate of Amendment effecting this decrease was not filed with, or accepted by,

the Nevada Secretary of State until July 15, 2026, on which date the decrease became effective.

As of February 28, 2026 and continuing

through the filing date of the Company’s original Annual Report on Form 10-K for the fiscal year ended February 28, 2026, the Company’s

authorized common shares remained 27,500,000,000 .

February 5, 2026, the holders of a majority of the voting power of the Company’s outstanding voting securities executed the written

consent approving a reverse stock split of the Company’s issued and outstanding Common Stock at a ratio of 1-for-100.

shares have been adjusted to reflect this reverse stock split.

of Common Stock Activity

the year ended, February 28, 2026, common shareholders had the following activity:

Company issued 3,383,509,359 common shares with gross proceeds of $ 8,21,027 and net proceeds of $ 11,282,955 after issuance costs

Company issued 50,403,802 common shares with gross proceeds of $ 5,185,344 and net proceeds of $ 4,801,184 after paid issuance costs

of $ 274,161 .

Company issued 6,500,000 common shares for services with a fair value of $ 44,460 .

Included in these common shares was a commitment fee of $ 90,000 on the issuance of 1,354,167 shares bringing total fees

to $ 364,161 .

Company issued 71,350,000 common shares in gross proceeds of $ 6,384,000 to repay $ 5,411,000 loans payable and $ 37,500 in accrued

interest with loss on settlement of $ 935,500 .

Company issued 1,994,464 common shares in gross proceeds of $ 111,690 on the conversion of

85 Series C Preferred Shares.

A dividend of $ 84,690 was recorded with a corresponding adjustment

to paid -in capital.

the year ended, February 28, 2025, common shareholders had the following activity:

Company issued 1,057,841,576 common shares with gross proceeds of $ 8,21,027 and net proceeds of $ 7,771,169 after issuance costs of

Company issued 17,500,000 common shares as penalty to an investor pursuant to a share purchase agreement.

Company issued 45,306,557 shares through the cashless exercise of 108,378,210 warrants.

Company cancelled 17,116,894 shares as a result of an SEC enforcement action against a lender and issued 10,000,000 shares for $ 118,500

as payment for services.

table below represent the common shares issued, issuable and outstanding at February 29, 2024 and February 28, 2023:

OF COMMON SHARES ISSUED, ISSUABLE AND OUTSTANDING

Common shares

February 29, 2024

February 28, 2023

9,238,750,958

5,836,641,599

Issued, issuable and outstanding

9,238,750,958

5,848,741,599

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

TO THE CONSOLIDATED FINANCIAL STATEMENTS

of Warrant and Stock Option Activity

Company issued 49,796,369 common shares with gross proceeds of $ 13,697,245 and net proceeds of $ 13,120,679 after paid issuance costs

of $ 576,565 .

Included in the net proceeds are $ 418,669 in share proceeds receivable received after year end.

Included in these common

shares was a commitment fee of $ 125,000 on the issuance of 43,859,650 shares bringing total fees to $ 701,565 .

Company issued 1,940,659 common shares to repay $ 562,000 loans payable from two different lenders.

of Warrant and Stock Option Activity

Weighted Average

SUMMARY OF WARRANT AND STOCK OPTION ACTIVITY

Exercise Price

Remaining Years

Outstanding at February 29, 2024

1,216,845,661

( 108,378,210 )

Forfeited and cancelled

2 unchanged sentences

Forfeited and cancelled

( 13,621,790 )

Outstanding at February 28, 2026

(1) Required dilution

adjustment per warrant agreement

the years ended February 29, 2024 and February 28, 2023, the Company recorded a total of $ 0 and $ 0 , respectively on stock-based payments

for warrants with a corresponding adjustment to additional paid-in capital.

the years ended February 29, 2024 and February 28, 2022 the Company recorded a total of $ 272,559 and $ 240,550 respectively, to stock-based

compensation for options and shares with a corresponding adjustment to additional paid-in capital.

In addition the Company recorded other

stock based compensation of ($ 479,000 ) and $ 499,500 , respectively with a corresponding adjustment to incentive compensation plan payable,

payable in Series G Preferred shares which have not yet been issued.

the year ended February 28, 2026 warrant holders had the following activity:

January 27, 2024 warrants to acquire 13,621,790 shares expired.

the year warrants to acquire 2,714 shares expired.

the year ended February 28, 2025 warrant holders had the following activity:

August 30, 2022 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.

August 9, 2022 as part of a debt issuance the Company issued two 47,000,000 warrants at an exercise price of $ 0.01 and $ 0.008 per

share, respectively both with a 5-year term and with a total relative fair value of $ 393,949 all using a Monte Carlo simulation to

include reset events, exercise at maturity, and cashless exercise features with assumptions described below:

OF FAIR VALUE ASSUMPTIONS OF WARRANTS

Fair value of Company’s common stock

Dividend yield

Expected volatility

Risk free interest rate

Expected term (years)

exercise of 108,378,210 warrants for 45,306,557 common shares

the year warrants to acquire 2,533,243 shares expired.

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

TO THE CONSOLIDATED FINANCIAL STATEMENTS

the years ended February 28, 2026 and February 29, 2025, the Company recorded a total of $ 0 and $ 0 , respectively on stock-based payments

for warrants with a corresponding adjustment to additional paid-in capital.

the years ended February 28, 2026 and February 28, 2025 the Company recorded a total of $ 315,848 and $ 331,685 respectively, to stock-based

compensation for options and shares with a corresponding adjustment to additional paid-in capital.

In addition for both the years ended

February 28, 2026 and February 28, 2025 the Company recorded other stock based compensation of $ 0 payable in Series G Preferred shares

which have not yet been issued.

of Common Stock Option Activity

of CEO Compensation Grant

April 9, 2021 the Company entered into an Employment Agreement with Chief Executive Officer, Steven Reinharz with a three- year term

under the following terms whereby stock option awards will be granted if certain conditions are met:

stock option award (option 1) will be granted to the employee to purchase 10,000,000 shares at an exercise price of $ $ 0.15 per share

if the trading share price of the Company reaches an average of $ 0.30 per share for ten days over a 30 day trading period.

stock option award (option 2) will be granted to the employee to purchase 30,000,000 shares at an exercise price of $ $ 0.25 per share

if the trading share price of the Company reaches an average of $ 0.50 per share for ten days over a 30 day trading period.

in any fiscal quarter exceed the total sales in fiscal year 2021 for the first time.

hundred (500) shares of Series G preferred stock.

hundred fifty (150) devices are deployed in the marketplace.

hundred fifty (250) shares of Series G preferred stock.

sales at any point in fiscal year 2022 exceed One Million Dollars ($1,000,000).

hundred fifty (250) shares of Series G preferred stock.

price per share of common stock has increased to and maintains a price of Ten Cents ($0.10) or more for ten (10) days in a thirty

(30) day period.

hundred fifty (250) shares of Series G preferred stock.

price per share of common stock has increased to and maintains a price of Twenty Cents ($0.20) or more for ten (10) days in a thirty

(30) day period.

hundred (500) shares of Series G preferred stock.

RAD 3.0 products are launched into the marketplace by November 30, 2021.

hundred (500) shares of Series G preferred stock.

receives an order for fifty (50) units from a single customer.

hundred (500) shares of Series G preferred stock.

January 31, 2024 the Company added the following Objective effective Martch 1, 2022:

Objective # 10

In any fiscal quarter,

attrition , measured by loss of recurring monthly revenue does not exceed 10%

Two h undred fifty

(250) shares of Series G preferred stock.

fair value of the first two awards was obtained through the use of the Monte Carlo method was $ 69,350 with a charge to stock- based compensation

and a corresponding charge to paid in capital.

The fair value of the remaining rewards was determined by calculating the vesting amounts

of each reward and then determining for each reporting period the requisite service rendered and applying that against the cash redemption

value of the number of shares of Series G issuable for each tier in the agreement.

For the period ended February 29, 2024 that amount

totaled $ 1,521,000 with a charge to stock-based compensation and a corresponding charge to incentive compensation plan payable.

period ended February 28, 2023 that amount totaled $ 499,500 with a charge to stock-based compensation and a corresponding charge to incentive

compensation plan payable.

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

TO THE CONSOLIDATED FINANCIAL STATEMENTS

April 14, 2021, the Shareholders of Series E Preferred Stock and the Board of Directors of our Company (“Board”) approved

1 unchanged sentence

On August 11, 2022 the Company amended the 2021 Plan increasing

the maximum number of shares applicable to the 2021 Plan from 5,000,000 to 100,000,000.

On August 14, 2023 the Company further amended

the plan increasing the maximum shares to 200,000,000.

the maximum number of shares applicable to the 2021 Plan from 50,000 to 1,000,0000 On August 14, 2023 the Company further amended the

plan increasing the maximum shares to 2,000,000.

purpose of the 2021 Plan is to promote the success of the Company by authorizing incentive awards to retain Directors, executives, selected

2 unchanged sentences

the granting of stock options, restricted stock, restricted stock units, stock appreciation rights and stock awards.

A total of two hundred

million ( 200,000,000 ) shares of common stock may be issued under the 2021 Plan.

All awards under the 2021 Plan, whether vested or unvested,

are subject to the terms of any recoupment, clawback or similar policy of the Company in effect from time to time, as well as any similar

A total of two million

( 2,000,000 ) shares of common stock may be issued under the 2021 Plan.

All awards under the 2021 Plan, whether vested or unvested, are

subject to the terms of any recoupment, clawback or similar policy of the Company in effect from time to time, as well as any similar

provisions of applicable law, which could in certain circumstances require repayment or forfeiture of awards or any shares of stock or

13 unchanged sentences

the year ended February 28, 2026 the Company had the following common stock option activity:

September 1, 2023, the Company as an addition to the afore-mentioned Incentive Stock Option Plan issued 114,217,035 shares to 48

The shares were issued with an exercise price of $ 0.02 , vest after 4 years with a 5 year term having a fair value of $ 593,929

using the Black-Scholes model with assumptions described below:

OF COMMON STOCK OPTION ACTIVITY ASSUMPTIONS

Fair value of Company’s common stock

Dividend yield

Expected volatility

Risk free interest rate

Expected term (years)

Company recorded $ 74,241 in stock-based compensation on the 2023 plan which represents the current expense over the vesting period.

addition the company recorded $ 198,357 stock based compensation on the 2022 options , so for the year ended February 29, 2024 the Company

recorded a total of $ 272,599 in stock based compensation with a corresponding increase in paid up capital.

the original 2021 plan, options to purchase 33,000 shares were forfeited due to employee terminations.

On the 2023 plan (see below)

57,160 options to purchase shares were forfeited due to employee terminations.

the year ended February 28, 2025 the Company had the following common stock option activity:

September 1, 2022, the Company as part of the afore-mentioned Incentive Stock Option Plan issued 100,000,000 shares to 64 employees.

The shares were issued with an exercise price of $ 0.02 , vest after 4 years with a 5 year term having a fair value of $ 1,020,000 using

the Black-Scholes model with assumptions described below:

OF COMMON STOCK OPTION ACTIVITY ASSUMPTIONS

Fair value of Company’s common stock

Dividend yield

Expected volatility

Risk free interest rate

Expected term (years)

Company recorded $ 122,050 in stock-based compensation which represents the current expense over the vesting period.

to purchase 4,275,000 shares were forfeited due to employee terminations

the original 2021 plan, options to purchase 24,750 shares were forfeited due to employee terminations.

On the 2023 plan (see below)

39,639 options to purchase shares were forfeited due to employee terminations.

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

2 unchanged sentences

SUMMARY OF COMMON STOCK OPTION ACTIVITY

Number of Warrants

Weighted Average Exercise Price

Weighted Average Remaining Years

Exercise Price

Outstanding at March 1, 2024

Forfeited, extinguished and cancelled

( 4,275,000 )

Forfeited, extinguished

and cancelled

Outstanding at February 28, 2025

Number of Warrants

Weighted Average Exercise Price

Weighted Average Remaining Years

Exercise Price

Outstanding at March 1, 2025

Forfeited, extinguished and cancelled

( 21,275,000 )

Forfeited, extinguished

and cancelled

Outstanding at February 28, 2026

9 unchanged sentences

related legal costs are expensed as incurred.

March 10, 2021, the Company entered into a 10 year lease agreement for q manufacturing facility at 10800 Galaxie Avenue, Ferndale, Michigan,

September 24, 2024, a prospective lender filed a claim against the Company for an alleged breach of a non-binding term sheet made on

June 7, 2024.

The Company and its counsel believe the claim is without merit however the courts have mandated mediation.

After consideration

of business factors the parties executed a settlement agreement in June 2025 with the Company agreeing to pay $ 65,000 with no admission

of wrongdoing.

The Company paid the $ 65,000 on August 1, 2025.

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

TO THE CONSOLIDATED FINANCIAL STATEMENTS

March 10, 2021, the Company entered into a 10 year lease agreement for a manufacturing facility at 10800 Galaxie Avenue, Ferndale, Michigan,

48220, commencing on May 1, 2021 through to April 30, 2031 with a minimum base rent of $ 15,880 per month.

2 unchanged sentences

The Company paid a security deposit of $ 15,880 .

September 30, 2021, the Company entered into a 3-year lease agreement for a vehicle commencing September 30, 2021 through to September

30, 2024 with a minimum base rent of $ 1,538 per month.

The Company paid a down payment of $ 18,462 .

January 28, 2022, the Company entered into a 2-year lease agreement for office space at 1516 E Edinger, Santa Ana, California, 92705,

commencing on February 1, 2022 through to January 31, 2024 with a minimum base rent of $ 1,500 per month.

The Company paid a security

deposit of $ 1,500 .

This lease expired on January 31, 2024 and was not renewed.

February 5, 2024, the Company entered into a 3-year lease agreement for a vehicle commencing February 5, 2024 through to February 5,

1 unchanged sentence

The Company paid a down payment of $ 9,357 .

March 11, 2025, the Company entered into a 3-year lease agreement for a vehicle commencing March 11, 2025 through to March 11, 2028 with

a minimum base rent of $ 1,286 per month.

The Company paid a down payment of $ 13,188 .

The Company recorded the right of use asset of $ 53,739

with a corresponding adjustment to operating lease liability.

Company’s leases are accounted for as operating leases.

Rent expense and operating lease cost are recorded over the lease terms

on a straight-line basis.

The weighted average discount rate used was 10 % and the weighted average

remaining lease term at February 28, 2026 was 4.93 years.

Rent expense and operating lease cost are recorded over the lease terms on

a straight-line basis.

Rent expense and operating lease cost was $ 251,883 and $ 240,731 for the years ended February 28, 2026 and February

28, 2025, respectively.

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

TO THE CONSOLIDATED FINANCIAL STATEMENTS

OF MATURITY OF OPERATING LEASE LIABILITIES

Maturity of Lease Liabilities

SCHEDULE OF MATURITY OF OPERATING LEASE LIABILITIES

Lease Liabilities

February 28, 2027

4 unchanged sentences

February 28, 2032 and after

2030 and after

Total lease payments

Present value of lease liabilities

EARNINGS (LOSS) PER SHARE

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

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

TO THE CONSOLIDATED FINANCIAL STATEMENTS

LOSS PER SHARE

net loss per common share amounts were determined as follows:

SCHEDULE OF NET INCOME (LOSS) PER COMMON SHARE

For the Year Ended

Net income (loss) available to common shareholders

the Year Ended

Net loss available to common shareholders

$ ( 14,510,251 )

1 unchanged sentence

Effect of common stock equivalents

interest expense on convertible debt

Add (less) loss (gain) on change of derivative liabilities

Net income (loss) adjusted for common stock equivalents

Less redemption dividend

to Series F and Series B preferred shareholders

Net loss adjusted for common stock equivalents

( 14,624,812 )

1 unchanged sentence

Weighted average shares - basic

7,080,914,317

5,091,857,082

Net income (loss) per share – basic

Net loss per share – basic

Weighted average shares – diluted

7,080,914,317

5,091,857,082

Net income (loss) per share – diluted

Net loss per share – diluted

anti-dilutive shares of common stock equivalents for the years ended February 28, 2026 and February 28, 2025 were as follows:

SCHEDULE OF ANTI-DILUTIVE SHARES OF COMMON

STOCK EQUIVALENTS

For the Year Ended

Class F Preferred Shares *

SCHEDULE OF ANTI-DILUTIVE SHARES OF COMMON STOCK EQUIVALENTS

the Year Ended

Convertible Series F Preferred

Convertible Series C Preferred Shares

Convertible and exchangeable debt

1,095,380,027

1 unchanged sentence

2,044,574,170

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

Convertible Series F Preferred Shares

20,178,158,517

Anti-dilutive shares of common stock

20,178,158,517

INTELLIGENCE TECHNOLOGY SOLUTIONS INC.

3 unchanged sentences

allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized.

income tax expense (benefit) consisted of the following for the fiscal years ended February 29, 2024 and February 28, 2023:

income tax expense (benefit) consisted of the following for the fiscal years ended February 28, 2026 and ended February 28, 2025:

SCHEDULE OF INCOME TAX EXPENSES (BENEFIT)

February 29, 2024

February 28, 2023

Total current

5 unchanged sentences

SCHEDULE OF EXPECTED STATUTORY FEDERAL INCOME TAX PROVISION

February 29, 2024

Federal statutory rate

4 unchanged sentences

Change in valuation allowance

February 28, 2023

Federal statutory rate

9 unchanged sentences

components of the Company’s deferred tax assets and liabilities were as follows for the fiscal years February 28, 2026 and February

SCHEDULE OF COMPONENTS OF DEFERRED TAX

ASSETS AND LIABILITIES

February 29, 2024

February 28, 2023

SCHEDULE OF COMPONENTS OF DEFERRED TAX ASSETS AND LIABILITIES

Deferred tax assets:

7 unchanged sentences

( 20,000,000 )

Net deferred tax assets (liabilities)

Net deferred tax

assets (liabilities)

Company has incurred losses since inception, therefore, the Company has no federal tax liability.

23 unchanged sentences

SUBSEQUENT EVENTS

to February 29, 2024 through to May 9, 2024,

the Company issued 705,166,425 common shares pursuant to a share purchase agreement for gross proceeds of $ 1,298,639 , issuance costs

of $ 55,021 and cash proceeds of $ 1,243,618 .

on March 12 ,2024 the shareholders approved an increase to its authorized common stock by 2,500,000,000 shares for 10,000,000 shares

to 12,500,000 shares.

On March 8, 2024, the Company entered into an agreement where the lender will buy 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 %

This agreement is secured by a general security charging all of RAD’s present and after-acquired property.

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

On April 29, 2024 , the Company entered into a Securities Purchase Agreement for 300 Series B Convertible , Redeemable Preferred Shares.

The Company will receive $ 300,000 less $ 10,000 in legal fees.

In addition as a commitment fee the Company issued an additional 20 Series

B Convertible, Redeemable Preferred Shares.

The shares have a redemption value of $ 1,200 per share.

The Company must redeem one third

of these shares or 106 2/3 for $108,000 in 30, days and each 30 days thereafter until all the shares are redeemed at 90 days.

must pay an 8 % dividend from issue date to redemption date.

OTHER SUBSEQUENT EVENTS

Subsequent to May 9, 2024 through to May 23, 2024,

— the Company issued

375,000,000 common shares pursuant to a share purchase agreement for gross proceeds of $ 1,500,000 , issuance costs of $ 61,025 and cash

proceeds of $ 1,438,975 .

to February 28, 2026 through to filing date,

the Company issued 36,786,492 common shares pursuant to a share purchase agreement for gross proceeds of $ 900,871 , issuance costs of

$ 77,391 and cash proceeds of $ 823,480 .

Company issued 39,000,000 shares to a lender to settle $ 745,900 , pursuant to exchange agreements

with the lender.

Series C Preferred Shareholder converted 298 Series C preferred shares at a value of $ 391,572

for 24,473,250 common shares

May 4 2026 the Company entered into an Equity Financing Agreement whereby an investor shall

invest up to $10,000,000 over the course of thirty-six (36) month at a purchase price of

eighty-seven percent (87%) of the average of the three lowest bid trade price in the 10 day

preceding period.

In conjunction with the above agreement, the Company entered into a Registration

Rights Agreement.

March 12, 2026 the Company issued a promissory note to a lender for $ 170,000 with cash proceeds

of $ 150,000 and an original issue discount of $ 20,000 .

The loan bears interest at 15 % compounding

annually, matures in 1 year and has a general security charging all of the Company’s

present and after-acquired property.

March 19, 2026 the Company entered into a memorandum of understanding whereby the outstanding

Series C Preferred Shares were adjusted to 417 Series C Preferred Shares.

The memorandum

reduced penalties that were added after the Company refused conversions .

The reduction amounted

to 212.16 Series C Preferred Shares or a stated value of $ 254,492 .

In exchange, the Company

agreed to proceed with the present conversion of 165 Series C Preferred shares for 13,550,625

common shares and issue 222 new Series C shares with a redemption value of $ 291,708 in exchange

for net proceeds of $ 200,000 .

March 25, 2026, the Company issued a convertible, redeemable note to a lender for $ 110,000

with cash proceeds of $ 95,000 , an original issue discount of $ 10,000 , and $ 5,000 for fees.

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

to a premium ranging from 110 % to 140 % if redeemed within the first 180 days of the note

The note matures in 1 year and converts after 180 days at 80 % of the lowest trading price

15 trading days prior to the conversion date.

March 25, 2026, the Company issued a convertible, redeemable note to a lender for $ 630,000

with cash proceeds of $ 595,000 , an original issue discount of $ 30,000 , and $ 5,000 for fees.

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

to a premium ranging from 110 % to 140 % if redeemed within the first 180 days of the note.

The note matures in 1 year and converts after 180 days at 20 % of the lowest trading price

15 trading days prior to the conversion date.

A refundable commitment fee of 14.1 million

common shares was issued, but is returnable if the loan plus accrued interest is paid back

by May 5, 2026.

On May 5, 2026, the Company repaid in full, principal and interest of $ 638,492

and the 14.1 million commitment fee shares were returned.

April 20, 2026, the Company issued a convertible note to a lender for $ 277,778 with cash

proceeds of $ 250,000 , an original issue discount of $ 27,778 , and $ 5,000 for fees.

bears interest at 12 %, and the note matures in 1 year.

If the loan is prepaid, one year’s

full interest of $ 33,333 is due.

The note converts at any time at 75 % of the lowest closing

trading price 10 trading days prior to the conversion date.

Interest is payable in common

shares at either the redemption date or maturity.

A commitment fee of 5 million common shares

at a fair value of $ 164,500 was issued.

April 20, 2026, the Company issued a convertible, redeemable note to a lender for $ 257,000

with cash proceeds of $ 250,000 and $ 7,000 for fees.

The loan bears interest at 10 %, the note

is redeemable by the Company at any time subject to a premium ranging from 120 % to 125 % if

redeemed within the first 180 days of the note.

The note matures on January 15, 2027 , and

converts after 180 days at 65 % of the lowest trading price 10 trading days prior to the conversion

May 1, 2026, the Company issued a convertible, redeemable note to a lender for $ 157,000 with

cash proceeds of $ 150,000 and $ 7,000 for fees.

The loan bears interest at 10 %, the note is

redeemable by the Company at any time subject to a premium ranging from 120 % to 125 % if redeemed

within the first 180 days of the note.

The note matures on January 15, 2027 , and converts

after 180 days at 65 % of the lowest trading price 10 trading days prior to the conversion

May 4, 2026, the Company issued a convertible, redeemable note to a lender for $ 700,000 with

cash proceeds of $ 630,000 and an original issue discount of $ 70,000 .

The loan bears interest

at 12 %, and the note matures in 1 year.

The note must be redeemed in monthly instalments

of 10 % of outstanding principal plus accrued interest commencing 60 days after issuance.

The note is convertible after 180 days at 65 % of the lowest closing trading price 10 trading

days prior to the conversion date.

A commitment fee of 1.25 million common shares at a fair

value of $ 28,750 was issued.

May 29, 2026 the Company issued a promissory note to a lender for $ 225,000 with cash proceeds

of $ 200,000 and an original issue discount of $ 25,000 .

The loan bears interest at 15 % compounding

annually, matures in 1 year and has a general security charging all of the Company’s

present and after-acquired property.

June 3, 2026, the Company issued a convertible, redeemable note to a lender for $ 230,000

with cash proceeds of $ 200,000 an original issue discount of $ 23,000 and $ 7,000 for fees.

The loan bears interest at 6 %, the note is redeemable by the Company at any time subject

to a premium ranging from 105 % to 140 % if redeemed within the first 180 days of the note.

The note matures on June 3, 2027 , and converts after 180 days at 65 % of the lowest trading

price 20 trading days prior to the conversion date, including the conversion date.

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-K/A

Item 9A. Controls and Procedures