$AVAI
AVANT TECHNOLOGIES INC. Stock $avai

$avai Overview Financials Valuation SEC Filings Company Website

2023 Q3 Form 10-Q Financial Statement

#000174079723000066 Filed on August 16, 2023

Income Statement

Concept	2023 Q3	2023 Q2	2023 Q1
Revenue	$0.00	$411.5K	$0.00
YoY Change	-100.0%	1282.71%	-100.0%
Cost Of Revenue			$0.00
YoY Change			-100.0%
Gross Profit			$0.00
YoY Change			-100.0%
Gross Profit Margin
Selling, General & Admin	$378.0K	$402.4K	$121.1K
YoY Change	336.85%	771.42%	97.46%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$10.32K	$9.100K	$3.830K
YoY Change	169.45%	-23.79%	-67.92%
% of Gross Profit
Operating Expenses	$388.3K	$411.5K	$124.9K
YoY Change	329.79%	608.04%	86.39%
Operating Profit	$399.6K	$411.5K	-$124.9K
YoY Change	377.09%	1282.71%	809.98%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net	-$11.29K	$0.00	$0.00
YoY Change		-100.0%	-100.0%
Pretax Income	-$399.6K	-$411.5K	-$124.9K
YoY Change	377.1%	1282.8%	1635.28%
Income Tax			$0.00
% Of Pretax Income
Net Earnings	-$399.6K	-$411.5K	-$124.9K
YoY Change	377.09%	1282.8%	1635.28%
Net Earnings / Revenue		-100.0%
Basic Earnings Per Share	$0.00	$0.00
Diluted Earnings Per Share	-$0.01	-$0.01	$0.00
COMMON SHARES
Basic Shares Outstanding	64.72M shares	57.65M shares	32.23M shares
Diluted Shares Outstanding

Balance Sheet

Concept	2023 Q3	2023 Q2	2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$1.480K	$520.00	$107.5K
YoY Change	-61.95%	-97.69%	222.83%
Cash & Equivalents	$1.480K	$518.00	$107.5K
Short-Term Investments
Other Short-Term Assets	$110.00	$120.00	$100.00
YoY Change	-99.81%	-99.76%	-99.92%
Inventory
Prepaid Expenses
Receivables			$0.00
Other Receivables			$0.00
Total Short-Term Assets	$1.594K	$635.00	$107.6K
YoY Change	-99.19%	-99.74%	-67.49%
LONG-TERM ASSETS
Property, Plant & Equipment	$1.500K	$1.500K	$1.500K
YoY Change	0.0%	0.0%	0.0%
Goodwill
YoY Change
Intangibles			$133.8K
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets	$263.5K	$273.8K	$133.9K
YoY Change	86.15%	88.35%	8.15%
TOTAL ASSETS
Total Short-Term Assets	$1.594K	$635.00	$107.6K
Total Long-Term Assets	$263.5K	$273.8K	$133.9K
Total Assets	$265.1K	$274.4K	$241.5K
YoY Change	-21.73%	-29.42%	-46.89%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$138.5K	$121.0K	$44.30K
YoY Change	104.53%	70.8%	2130.66%
Accrued Expenses	$410.0K	$458.6K	$192.6K
YoY Change	23613.13%	9099.6%	6739.49%
Deferred Revenue
YoY Change
Short-Term Debt	$707.9K	$688.6K	$637.8K
YoY Change	34.9%	59.02%	6.33%
Long-Term Debt Due	$99.00K	$99.00K	$99.00K
YoY Change
Total Short-Term Liabilities	$1.256M	$1.268M	$874.7K
YoY Change	65.64%	53.01%	1.68%
LONG-TERM LIABILITIES
Long-Term Debt	$0.00	$0.00	$0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities	$0.00	$0.00	$0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities	$1.256M	$1.268M	$874.7K
Total Long-Term Liabilities	$0.00	$0.00	$0.00
Total Liabilities	$1.256M	$1.268M	$874.7K
YoY Change	65.64%	53.01%	1.68%
SHAREHOLDERS EQUITY
Retained Earnings	$1.659M	$1.259M	$847.9K
YoY Change	172.26%	139.61%	71.0%
Common Stock	$74.27K	$64.50K	$38.50K
YoY Change	130.41%	145.11%	46.31%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	-$991.3K	-$993.8K	-$633.3K
YoY Change
Total Liabilities & Shareholders Equity	$265.1K	$274.4K	$241.5K
YoY Change	-21.73%	-29.42%	-46.89%

Cashflow Statement

Concept	2023 Q3	2023 Q2	2023 Q1
OPERATING ACTIVITIES
Net Income	-$399.6K	-$411.5K	-$124.9K
YoY Change	377.09%	1282.8%	1635.28%
Depreciation, Depletion And Amortization	$10.32K	$9.100K	$3.830K
YoY Change	169.45%	-23.79%	-67.92%
Cash From Operating Activities	-$420.4K	$59.73K	-$73.50K
YoY Change	285.16%	-162.48%	-177.42%
INVESTING ACTIVITIES
Capital Expenditures	$0.00	$149.0K	$0.00
YoY Change		-544.64%
Acquisitions
YoY Change
Other Investing Activities			$0.00
YoY Change
Cash From Investing Activities	$0.00	$149.0K	$0.00
YoY Change		344.64%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net		$26.00K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	421.4K	-$101.8K	162.2K
YoY Change	365.24%	-239.59%	-344.79%
NET CHANGE
Cash From Operating Activities	-420.4K	$59.73K	-73.50K
Cash From Investing Activities	0.000	$149.0K	0.000
Cash From Financing Activities	421.4K	-$101.8K	162.2K
Net Change In Cash	970.0	-$107.0K	88.65K
YoY Change	-105.22%	888.12%	208.89%
FREE CASH FLOW
Cash From Operating Activities	-$420.4K	$59.73K	-$73.50K
Capital Expenditures	$0.00	$149.0K	$0.00
Free Cash Flow	-$420.4K	-$89.27K	-$73.50K
YoY Change	285.16%	43.79%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
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CY2023Q2	dei	Document Type DocumentType	10-Q
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CY2023Q2	dei	Document Period End Date DocumentPeriodEndDate	2023-06-30
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CY2023Q2	dei	Entity File Number EntityFileNumber	333-225433
CY2023Q2	dei	Entity Registrant Name EntityRegistrantName	AVANT TECHNOLOGIES INC.
CY2023Q2	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	NV
CY2023Q2	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	38-4053064
CY2023Q2	dei	Entity Address Address Line1 EntityAddressAddressLine1	5348 Vegas Drive
CY2023Q2	dei	Entity Address City Or Town EntityAddressCityOrTown	Las Vegas
CY2023Q2	dei	Entity Address State Or Province EntityAddressStateOrProvince	NV
CY2023Q2	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	89108
CY2023Q2	dei	City Area Code CityAreaCode	(866)
CY2023Q2	dei	Local Phone Number LocalPhoneNumber	533-0065
CY2023Q2	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
CY2023Q2	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	No
CY2023Q2	dei	Entity Filer Category EntityFilerCategory	Non-accelerated Filer
CY2023Q2	dei	Entity Small Business EntitySmallBusiness	true
CY2023Q2	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	true
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CY2022Q2	us-gaap	Increase Decrease In Prepaid Rent IncreaseDecreaseInPrepaidRent	7	usd
CY2023Q2	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	59726	usd
CY2022Q2	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-95596	usd
CY2022Q2	avai	Development Chatbot DevelopmentChatbot	4060	usd
CY2022Q2	avai	Mobileapp Mobileapp	29450	usd
CY2023Q2	us-gaap	Asset Acquisition Consideration Transferred Other Assets AssetAcquisitionConsiderationTransferredOtherAssets	149000	usd
CY2023Q2	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	149000	usd
CY2022Q2	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	33510	usd
CY2023Q2	us-gaap	Loans And Leases Receivable Related Parties Proceeds LoansAndLeasesReceivableRelatedPartiesProceeds	50772	usd
CY2022Q2	us-gaap	Loans And Leases Receivable Related Parties Proceeds LoansAndLeasesReceivableRelatedPartiesProceeds	30684	usd
CY2022Q2	us-gaap	Increase Decrease In Notes Payable Related Parties IncreaseDecreaseInNotesPayableRelatedParties	103594	usd
CY2023Q2	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	26000	usd
CY2023Q2	us-gaap	Proceeds From Issuance Or Sale Of Equity ProceedsFromIssuanceOrSaleOfEquity	25000	usd
CY2023Q2	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-101772	usd
CY2022Q2	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	72910	usd
CY2023Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-106954	usd
CY2022Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-10824	usd
CY2023Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	107472	usd
CY2022Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	33289	usd
CY2023Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	518	usd
CY2022Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	22465	usd
CY2023Q2	us-gaap	Use Of Estimates UseOfEstimates	<p id="xdx_849_eus-gaap--UseOfEstimates_ze0sLuQh9u8" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><span id="xdx_86D_zw0MIS7vfBw6">Use of Estimates</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
CY2023Q2	us-gaap	Cash Cash	518	usd
CY2023Q2	us-gaap	Property Plant And Equipment Preproduction Design And Development Costs PropertyPlantAndEquipmentPreproductionDesignAndDevelopmentCosts	<p id="xdx_841_eus-gaap--PropertyPlantAndEquipmentPreproductionDesignAndDevelopmentCosts_zRTWczLihQRe" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><span id="xdx_860_zh5Y3R5A3603">Website Development Costs</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company amortizes these costs using the straight-line method over a period of one years, which is the remaining estimated economic life of the costs. At the end of each reporting period, the Company writes down any excess of the unamortized balance over the net realizable value.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b> </b></p>
CY2023Q2	us-gaap	Revenue Recognition Accounting Policy Gross And Net Revenue Disclosure RevenueRecognitionAccountingPolicyGrossAndNetRevenueDisclosure	<p id="xdx_842_eus-gaap--RevenueRecognitionAccountingPolicyGrossAndNetRevenueDisclosure_zSweqKNdRqG9" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><span id="xdx_860_zlSU4YkRhTmb">Revenue Recognition </span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company adopted Accounting Standards Codification (“ASC”) 606. ASC 606, Revenue from Contracts with Customers, establishes principles for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from the entity’s contracts to provide goods or services to customers. The core principle requires an entity to recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration that it expects to be entitled to receive in exchange for those goods or services recognized as performance obligations are satisfied.</p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has assessed the impact of the guidance by performing the following five steps analysis:</p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Step 1: Identify the contract</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Step 2: Identify the performance obligations</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Step 3: Determine the transaction price</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Step 4: Allocate the transaction price</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Step 5: Recognize revenue</p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Revenue is measured at the fair value of the consideration received or receivable, net of discounts and taxes applicable to the revenue.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">11 \| Page</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Revenue from supplies of consulting services is recognized when title and risk of loss are transferred and there are no continuing obligations to the customer. Title and the risks and rewards of ownership transfer to and accepted by the customer when the services are collected by the customer at the Company’s office. Revenue is recorded net of sales discounts, returns, allowances, and other adjustments that are based upon management’s best estimates and historical experience and are provided for in the same period as the related revenues are recorded. Based on limited operating history, management estimates that there was no sales return for the period reported.</p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company derives its revenue from direct sales to individuals and business companies. Generally, the Company recognizes revenue when services are sold and accepted by the customers and there are no continuing obligations to the customer.</p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"> </p>
CY2023Q2	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	1500	usd
CY2023Q2	us-gaap	Development In Process DevelopmentInProcess	8361	usd
CY2023Q2	us-gaap	Shares Issued SharesIssued	64503811	shares

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0001740797-23-000066-index-headers.html	Edgar Link	pending
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0001740797-23-000066.txt	Edgar Link	pending
0001740797-23-000066-xbrl.zip	Edgar Link	pending
avai-20230630.xsd	Edgar Link	pending
avai10q30june2023.htm	Edgar Link	pending
ex31_1.htm	Edgar Link	pending
ex31_2.htm	Edgar Link	pending
ex32_1.htm	Edgar Link	pending
Financial_Report.xlsx	Edgar Link	pending
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R1.htm	Edgar Link	pending
avai-20230630_def.xml	Edgar Link	unprocessable
avai-20230630_pre.xml	Edgar Link	unprocessable
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avai10q30june2023_htm.xml	Edgar Link	completed
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$AVAI
AVANT TECHNOLOGIES INC. Stock $avai

2023 Q3 Form 10-Q Financial Statement

#000174079723000066 Filed on August 16, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$AVAI AVANT TECHNOLOGIES INC. Stock $avai

2023 Q3 Form 10-Q Financial Statement

#000174079723000066 Filed on August 16, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$AVAI
AVANT TECHNOLOGIES INC. Stock $avai