AI / ML Innovations Stock Price, News & Analysis

AI/ML Innovations Inc. (CSE:AIML)(OTCQB:AIMLF) has completed the initial closing of its non-brokered private placement, raising $1,279,750 through the issuance of 19,688,461 Shares and Warrants. Each Unit consists of one Common Share and one Warrant, exercisable at $0.15 per share for two years. The company paid $44,070 in finder's fees and issued 504,000 broker warrants. Two company officers subscribed for 11.2% of the Units, while an insider controlling over 10% of shares subscribed for 35.5%. The proceeds will be used for working capital requirements.

AI/ML Innovations Inc. (CSE:AIML)(OTCQB:AIMLF) announces an increase in its proposed non-brokered private placement from 20,000,000 to 40,000,000 units at $0.065 per unit, potentially raising up to $2,600,000. Each unit includes one Common Share and one Warrant exercisable at $0.15 per share within two years. The company received a 30-day extension, with closing anticipated by November 25, 2024. Proceeds will be used for general working capital. The warrant expiry can be accelerated with 30 days' notice if shares trade at $0.25 for 10 days.

AI/ML Innovations Inc. (CSE:AIML)(OTCQB:AIMLF)(FWB:42FB) has announced a non-brokered private placement offering of up to 20,000,000 units at $0.065 per unit, aiming to raise up to $1,300,000. Each unit consists of one common share and one warrant, exercisable at $0.15 per share for two years. The company plans to use the net proceeds for working capital requirements. The offering is subject to regulatory approvals, including from the Canadian Securities Exchange.

AI/ML Innovations focuses on artificial intelligence and machine learning in the digital health and wellbeing sector. The company has strategic partnerships with Health Gauge (70% owned), Tech2Heal (22% ownership commitment), and AI Rx Inc. (70% owned).

AI/ML Innovations Inc. (CSE:AIML)(OTCQB:AIMLF)(FWB:42FB) has announced an impairment loss of $1,510,668 related to its investment in minority-owned subsidiary, Tech2Heal. The impairment assessment revealed that Tech2Heal's primary asset, Alakin, is currently meeting expectations with modest sales. However, the company faces significant challenges:

1. Immediate need for substantial new capital to maintain product competitiveness.
2. Rapid advancements in artificial intelligence surpassing the company's ability to modernize its technology.
3. Difficulty in remaining competitive and attracting new customers without successful AI integration into the platform.

The company's management will provide updates on plans to develop the business as they progress.

AI/ML Innovations Inc. (CSE:AIML)(OTCQB:AIMLF)(FWB:42FB) has announced that the British Columbia Securities Commission (BCSC) has lifted the Management Cease Trade Order (MCTO) previously granted on August 29, 2024. This action comes after the company successfully completed all required filings for its annual and interim financial periods ending April 30, 2024, and July 31, 2024, respectively.

The MCTO was initially granted due to anticipated late filings of the company's annual audited financial statements and related documents for the financial year ended April 30, 2024. The company has now completed both the Annual Filings and the Interim Filings in accordance with Canadian securities law and regulation. With the MCTO revoked, members of management are no longer restricted from trading the company's common shares.

AI/ML Innovations Inc. (CSE:AIML)(OTCQB:AIMLF)(FWB:42FB) provides a second status update regarding its financial reporting delays. The British Columbia Securities Commission (BCSC) granted a management cease trade order (MCTO) on August 29, 2024, restricting trading for the CEO and Interim CFO until the company files its annual financial documents for the year ended April 30, 2024. Additionally, the company will miss the September 29, 2024 deadline for its Q1 2024 interim filings.

The company expects to file the required annual documents by September 30, 2024, and the interim filings by October 15, 2024. The delay is partly due to ongoing work with auditors regarding the accounting data of its France-based investee, Tech2heal. AI/ML Innovations will continue to issue bi-weekly status updates to comply with regulatory guidelines.

AI/ML Innovations Inc. (CSE:AIML)(OTCQB:AIMLF)(FWB:42FB) has provided a status update regarding its management cease trade order (MCTO) granted by the British Columbia Securities Commission on August 29, 2024. The MCTO restricts trading for the CEO and Interim CFO until the company files its annual financial documents for the year ended April 30, 2024. The company now expects to file these documents by September 30, 2024, citing ongoing work with auditors on accounting issues related to a French investee entity.

AI/ML Innovations is focused on artificial intelligence and machine learning in digital health and wellbeing. The company has investments in Health Gauge (70% owned), Tech2Heal (22% ownership commitment), and AI Rx Inc. (70% owned), aiming to capitalize on growth areas in healthcare management solutions and precision support delivery.

AI/ML Innovations Inc. (CSE:AIML)(OTCQB:AIMLF)(FWB:42FB) has been granted a Management Cease Trade Order (MCTO) by the British Columbia Securities Commission due to a delay in filing its audited annual financial statements for the year ended April 30, 2024. The MCTO restricts trading in company securities by the CEO and CFO but does not generally affect other shareholders' ability to trade. The company expects to file the required documents by September 15, 2024.

AI/ML Innovations focuses on artificial intelligence and machine learning technologies in digital health and wellbeing. The company has investments in Health Gauge (70% owned), Tech2Heal (22% ownership commitment), and AI Rx Inc. (70% owned).

AI/ML Innovations Inc. (CSE:AIML)(OTCQB:AIMLF)(FWB:42FB) has announced a delay in filing its annual financial disclosure for the year ended April 30, 2024. The company has applied for a management cease trade order (MCTO) from the British Columbia Securities Commission to avoid a general cease trade order. The delay is due to the inability of bookkeepers from its investee, Tech2Heal, to provide necessary financial information for audit completion.

The company expects to file the required documents by September 15, 2024, missing the original August 28, 2024 deadline. During the MCTO period, if granted, only insiders will be restricted from trading the company's securities. AI/ML Innovations focuses on artificial intelligence and machine learning in digital health and wellbeing, with investments in Health Gauge, Tech2Heal, and AI Rx Inc.