$AVAI
AVANT TECHNOLOGIES INC. Stock $avai

$avai Overview Financials Valuation SEC Filings Company Website

2024 Q1 Form 10-Q Financial Statement

#000174079724000010 Filed on February 14, 2024

Income Statement

Concept	2024 Q1	2023 Q4	2023 Q1
Revenue	$0.00	$0.00	$0.00
YoY Change		-100.0%	-100.0%
Cost Of Revenue	$0.00		$0.00
YoY Change			-100.0%
Gross Profit	$0.00		$0.00
YoY Change			-100.0%
Gross Profit Margin
Selling, General & Admin	$256.2K	$1.004M	$121.1K
YoY Change	111.5%	2087.03%	97.46%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$47.27K	$10.27K	$3.830K
YoY Change	1134.2%	168.85%	-67.92%
% of Gross Profit
Operating Expenses	$303.4K	$1.014M	$124.9K
YoY Change	142.86%	1939.34%	86.39%
Operating Profit	-$303.4K	$1.014M	-$124.9K
YoY Change	142.86%	817.8%	809.98%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net	$0.00		$0.00
YoY Change			-100.0%
Pretax Income	-$303.4K	-$1.014M	-$124.9K
YoY Change	142.86%	817.81%	1635.28%
Income Tax	$0.00		$0.00
% Of Pretax Income
Net Earnings	-$303.4K	-$1.014M	-$124.9K
YoY Change	142.86%	817.8%	1635.28%
Net Earnings / Revenue
Basic Earnings Per Share		-$0.01
Diluted Earnings Per Share	$0.00	-$0.01	$0.00
COMMON SHARES
Basic Shares Outstanding	84.79M shares	75.72M shares	32.23M shares
Diluted Shares Outstanding

Balance Sheet

Concept	2024 Q1	2023 Q4	2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$280.00	$900.00	$107.5K
YoY Change	-99.74%	-95.22%	222.83%
Cash & Equivalents	$281.00	$896.00	$107.5K
Short-Term Investments
Other Short-Term Assets	$115.8K	$37.15K	$100.00
YoY Change	115700.0%	2207.45%	-99.92%
Inventory
Prepaid Expenses	$115.7K	$37.03K
Receivables			$0.00
Other Receivables			$0.00
Total Short-Term Assets	$116.1K	$38.05K	$107.6K
YoY Change	7.91%	-74.15%	-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	$205.9K	$253.2K	$133.8K
YoY Change	53.96%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets	$205.9K	$253.2K	$133.9K
YoY Change	53.81%	83.86%	8.15%
TOTAL ASSETS
Total Short-Term Assets	$116.1K	$38.05K	$107.6K
Total Long-Term Assets	$205.9K	$253.2K	$133.9K
Total Assets	$322.0K	$291.2K	$241.5K
YoY Change	33.36%	2.23%	-46.89%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$1.082M	$33.51K	$44.30K
YoY Change	2341.94%	-61.48%	2130.66%
Accrued Expenses		$850.0K	$192.6K
YoY Change		8322.51%	6739.49%
Deferred Revenue
YoY Change
Short-Term Debt	$706.8K	$808.6K	$637.8K
YoY Change	10.81%	59.54%	6.33%
Long-Term Debt Due			$99.00K
YoY Change
Total Short-Term Liabilities	$1.789M	$1.692M	$874.7K
YoY Change	104.47%	105.26%	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	$1.789M	$1.692M	$874.7K
Total Long-Term Liabilities	$0.00	$0.00	$0.00
Total Liabilities	$1.789M	$1.692M	$874.7K
YoY Change	104.47%	105.26%	1.68%
SHAREHOLDERS EQUITY
Retained Earnings	-$2.976M	-$2.673M	$847.9K
YoY Change	-451.02%	-471.32%	71.0%
Common Stock	$117.2K	$84.80K	$38.50K
YoY Change	204.3%	163.09%	46.31%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	-$1.467M	-$1.401M	-$633.3K
YoY Change
Total Liabilities & Shareholders Equity	$322.0K	$291.2K	$241.5K
YoY Change	33.36%	2.23%	-46.89%

Cashflow Statement

Concept	2024 Q1	2023 Q4	2023 Q1
OPERATING ACTIVITIES
Net Income	-$303.4K	-$1.014M	-$124.9K
YoY Change	142.86%	817.8%	1635.28%
Depreciation, Depletion And Amortization	$47.27K	$10.27K	$3.830K
YoY Change	1134.2%	168.85%	-67.92%
Cash From Operating Activities	-$136.5K	-$705.7K	-$73.50K
YoY Change	85.74%	-2265.3%	-177.42%
INVESTING ACTIVITIES
Capital Expenditures	$0.00	$0.00	$0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities			$0.00
YoY Change
Cash From Investing Activities	$0.00	$0.00	$0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	135.9K	705.1K	162.2K
YoY Change	-16.18%	-4092.53%	-344.79%
NET CHANGE
Cash From Operating Activities	-136.5K	-705.7K	-73.50K
Cash From Investing Activities	0.000	0.000	0.000
Cash From Financing Activities	135.9K	705.1K	162.2K
Net Change In Cash	-610.0	-590.0	88.65K
YoY Change	-100.69%	-103.95%	208.89%
FREE CASH FLOW
Cash From Operating Activities	-$136.5K	-$705.7K	-$73.50K
Capital Expenditures	$0.00	$0.00	$0.00
Free Cash Flow	-$136.5K	-$705.7K	-$73.50K
YoY Change	85.74%	-2265.3%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
	dei	Amendment Flag AmendmentFlag	false
	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--03-31
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2024
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q3
	dei	Entity Central Index Key EntityCentralIndexKey	0001740797
CY2023Q1	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent		usd
CY2023Q1	us-gaap	Production Costs Cumulative ProductionCostsCumulative		usd
CY2023Q1	avai	Fame Fame		usd
CY2023Q1	us-gaap	Sale Of Stock Price Per Share SaleOfStockPricePerShare
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CY2023Q4	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense		usd
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	avai	Retainersfrom Retainersfrom		usd
	avai	Development Chatbot DevelopmentChatbot		usd
	avai	Mobileapp Mobileapp		usd
	us-gaap	Asset Acquisition Consideration Transferred Other Assets AssetAcquisitionConsiderationTransferredOtherAssets		usd
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	dei	Document Type DocumentType	10-Q
	dei	Document Quarterly Report DocumentQuarterlyReport	true
	dei	Document Period End Date DocumentPeriodEndDate	2023-12-31
	dei	Document Transition Report DocumentTransitionReport	false
	dei	Entity File Number EntityFileNumber	333-225433
	dei	Entity Registrant Name EntityRegistrantName	AVANT TECHNOLOGIES, INC.
	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	NV
	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	38-4053064
	dei	Entity Address Address Line1 EntityAddressAddressLine1	5348 Vegas Drive
	dei	Entity Address City Or Town EntityAddressCityOrTown	Las Vegas
	dei	Entity Address State Or Province EntityAddressStateOrProvince	NV
	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	89108
	dei	City Area Code CityAreaCode	(866)
	dei	Local Phone Number LocalPhoneNumber	533-0065
	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
	dei	Entity Filer Category EntityFilerCategory	Non-accelerated Filer
	dei	Entity Small Business EntitySmallBusiness	true
	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	false
	dei	Entity Shell Company EntityShellCompany	false
CY2024Q1	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	84794378	shares
CY2023Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	896	usd
CY2023Q1	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	107472	usd
CY2023Q4	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent	37034	usd
CY2023Q4	us-gaap	Prepaid Rent PrepaidRent	117	usd
CY2023Q1	us-gaap	Prepaid Rent PrepaidRent	103	usd
CY2023Q4	us-gaap	Assets Current AssetsCurrent	38047	usd
CY2023Q1	us-gaap	Assets Current AssetsCurrent	107575	usd
CY2023Q4	avai	Accum Accum	-1500	usd
CY2023Q1	avai	Accum Accum	-1375	usd
CY2023Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	1500	usd
CY2023Q1	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	1500	usd
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CY2023Q1	avai	Depreciat Depreciat	154511	usd
CY2023Q4	us-gaap	Production Costs Cumulative ProductionCostsCumulative	124000	usd
CY2023Q4	us-gaap	Development Costs Cumulative DevelopmentCostsCumulative	126850	usd
CY2023Q1	us-gaap	Development Costs Cumulative DevelopmentCostsCumulative	126850	usd
CY2023Q4	avai	Chatbotdevelopment Chatbotdevelopment	4060	usd
CY2023Q1	avai	Chatbotdevelopment Chatbotdevelopment	4060	usd
CY2023Q4	avai	Fame Fame	25000	usd
CY2023Q4	avai	Database Database	149000	usd
CY2023Q1	avai	Database Database	149000	usd
CY2023Q4	avai	Websitedevelopment Websitedevelopment	8361	usd
CY2023Q1	avai	Websitedevelopment Websitedevelopment	8361	usd
CY2023Q4	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	253199	usd
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CY2023Q4	us-gaap	Convertible Notes Payable Current ConvertibleNotesPayableCurrent	295500	usd
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CY2023Q4	us-gaap	Liabilities Liabilities	1692130	usd
CY2023Q1	us-gaap	Liabilities Liabilities	874719	usd
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CY2023Q1	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	5000000	shares
CY2023Q4	us-gaap	Preferred Stock Value PreferredStockValue	10000	usd
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CY2023Q4	us-gaap	Sale Of Stock Price Per Share SaleOfStockPricePerShare	25000
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CY2022Q4	us-gaap	Proceeds From Customers ProceedsFromCustomers	142375	usd
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CY2022Q4	us-gaap	Interest Income Expense Net InterestIncomeExpenseNet	142375	usd
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CY2022Q4	us-gaap	Cost Of Goods And Services Sold CostOfGoodsAndServicesSold	213912	usd
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	us-gaap	Operating Costs And Expenses OperatingCostsAndExpenses	1813750	usd
	us-gaap	Operating Costs And Expenses OperatingCostsAndExpenses	198192	usd
CY2022Q4	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	10783	usd
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	us-gaap	Operating Income Loss OperatingIncomeLoss	223995	usd
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CY2023Q4	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	74840737	shares
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	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	32231083	shares
CY2022Q1	us-gaap	Shares Outstanding SharesOutstanding	26316083	shares
CY2022Q1	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	5000000	shares
CY2022Q1	us-gaap	Stockholders Equity StockholdersEquity	-405561	usd
CY2022Q2	us-gaap	Finite Lived Intangible Assets Translation And Purchase Accounting Adjustments FiniteLivedIntangibleAssetsTranslationAndPurchaseAccountingAdjustments	-4694	usd
CY2022Q2	us-gaap	Net Income Loss NetIncomeLoss	-29762	usd
CY2022Q2	us-gaap	Shares Outstanding SharesOutstanding	26316083	shares
CY2022Q2	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	5000000	shares
CY2022Q2	us-gaap	Stockholders Equity StockholdersEquity	-440017	usd
CY2022Q3	us-gaap	Conversion Of Stock New Issuance ConversionOfStockNewIssuance	5,915,000
CY2022Q3	us-gaap	Conversion Of Stock Shares Issued1 ConversionOfStockSharesIssued1	91500	shares
CY2022Q3	us-gaap	Proceeds From Partnership Contribution ProceedsFromPartnershipContribution	1499	usd
CY2022Q3	us-gaap	Finite Lived Intangible Assets Translation And Purchase Accounting Adjustments FiniteLivedIntangibleAssetsTranslationAndPurchaseAccountingAdjustments	10955	usd
CY2022Q3	us-gaap	Net Income Loss NetIncomeLoss	-83762	usd
CY2022Q3	us-gaap	Shares Outstanding SharesOutstanding	32231083	shares
CY2022Q3	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	5000000	shares
CY2022Q3	us-gaap	Stockholders Equity StockholdersEquity	-419825	usd
CY2022Q4	us-gaap	Finite Lived Intangible Assets Translation And Purchase Accounting Adjustments FiniteLivedIntangibleAssetsTranslationAndPurchaseAccountingAdjustments	-9186	usd
CY2022Q4	us-gaap	Net Income Loss NetIncomeLoss	-110471	usd
CY2022Q4	us-gaap	Shares Outstanding SharesOutstanding	32231083	shares
CY2022Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	5000000	shares
CY2022Q4	us-gaap	Stockholders Equity StockholdersEquity	-539482	usd
CY2023Q1	us-gaap	Shares Issued SharesIssued	38503811	shares
CY2023Q1	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	5000000	shares
CY2023Q1	us-gaap	Stockholders Equity StockholdersEquity	-633259	usd
CY2023Q2	us-gaap	Stock Issued During Period Shares Acquisitions StockIssuedDuringPeriodSharesAcquisitions	26000000	shares
CY2023Q2	us-gaap	Stock Issued During Period Value Acquisitions StockIssuedDuringPeriodValueAcquisitions	26000	usd
CY2023Q2	us-gaap	Proceeds From Stock Plans ProceedsFromStockPlans	5000	usd
CY2023Q2	us-gaap	Proceeds From Issuance Of Convertible Preferred Stock ProceedsFromIssuanceOfConvertiblePreferredStock	25000	usd
CY2023Q2	us-gaap	Net Income Loss NetIncomeLoss	-411522	usd
CY2023Q2	us-gaap	Shares Issued SharesIssued	64503811	shares
CY2023Q2	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	5000000	shares
CY2023Q2	us-gaap	Stockholders Equity StockholdersEquity	-993781	usd
CY2023Q3	us-gaap	Stock Issued During Period Value New Issues StockIssuedDuringPeriodValueNewIssues	9763243	usd
CY2023Q3	us-gaap	Stock Issued During Period Shares Acquisitions StockIssuedDuringPeriodSharesAcquisitions	402100	shares
CY2023Q3	us-gaap	Net Income Loss NetIncomeLoss	-399621	usd
CY2023Q3	us-gaap	Shares Issued SharesIssued	74267054	shares
CY2023Q3	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	5000000	shares
CY2023Q3	us-gaap	Stockholders Equity StockholdersEquity	-991302	usd
CY2023Q4	us-gaap	Common Stock Convertible Conversion Price Decrease CommonStockConvertibleConversionPriceDecrease	10527324
CY2023Q4	us-gaap	Stockholders Equity Note Impact Of Conversion Of Contingently Convertible Securities On Diluted Earnings Per Share StockholdersEquityNoteImpactOfConversionOfContingentlyConvertibleSecuritiesOnDilutedEarningsPerShare	604,318
CY2023Q4	us-gaap	Stock Issued During Period Value Conversion Of Units StockIssuedDuringPeriodValueConversionOfUnits	5000000	usd
CY2023Q4	us-gaap	Net Income Loss NetIncomeLoss	-1013900	usd
CY2023Q4	us-gaap	Shares Issued SharesIssued	84794378	shares
CY2023Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	10000000	shares
CY2023Q4	us-gaap	Stockholders Equity StockholdersEquity	-1400884	usd
	us-gaap	Net Investment Income NetInvestmentIncome	1825043	usd
	us-gaap	Net Investment Income NetInvestmentIncome	223995	usd
	us-gaap	Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities	2965	usd
	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment Period Increase Decrease AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentPeriodIncreaseDecrease	29686	usd
	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment Period Increase Decrease AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentPeriodIncreaseDecrease	19592	usd
	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	-10791	usd
	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	85015	usd
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	-60679	usd
	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	7275	usd
	us-gaap	Increase Decrease In Accrued Salaries IncreaseDecreaseInAccruedSalaries	657400	usd
	us-gaap	Increase Decrease In Accrued Salaries IncreaseDecreaseInAccruedSalaries	-1500	usd
	us-gaap	Loans And Leases Receivable Related Parties Period Increase Decrease LoansAndLeasesReceivableRelatedPartiesPeriodIncreaseDecrease	105241	usd
	avai	Retainersfrom Retainersfrom	-33602	usd
	us-gaap	Increase Decrease In Prepaid Expense IncreaseDecreaseInPrepaidExpense	-37034	usd
	us-gaap	Increase Decrease In Prepaid Expense IncreaseDecreaseInPrepaidExpense	124658	usd
	us-gaap	Increase Decrease In Prepaid Rent IncreaseDecreaseInPrepaidRent	-14	usd
	us-gaap	Increase Decrease In Prepaid Rent IncreaseDecreaseInPrepaidRent	-4	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-1185796	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	19036	usd
	avai	Development Chatbot DevelopmentChatbot	-4060	usd
	avai	Mobileapp Mobileapp	-29450	usd
	us-gaap	Asset Acquisition Consideration Transferred Other Assets AssetAcquisitionConsiderationTransferredOtherAssets	-149000	usd
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-149000	usd
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-33510	usd
	us-gaap	Loans And Leases Receivable Related Parties Proceeds LoansAndLeasesReceivableRelatedPartiesProceeds	169902	usd
	us-gaap	Loans And Leases Receivable Related Parties Proceeds LoansAndLeasesReceivableRelatedPartiesProceeds	61730	usd
	us-gaap	Increase Decrease In Notes Payable Related Parties IncreaseDecreaseInNotesPayableRelatedParties	154772	usd
	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	46290	usd
	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	5915	usd
	us-gaap	Proceeds From Notes Payable ProceedsFromNotesPayable	900	usd
	us-gaap	Proceeds From Issuance Of Preferred Stock And Preference Stock ProceedsFromIssuanceOfPreferredStockAndPreferenceStock	5000	usd
	us-gaap	Proceeds From Issuance Or Sale Of Equity ProceedsFromIssuanceOrSaleOfEquity	25000	usd
	us-gaap	Adjustments To Additional Paid In Capital Other AdjustmentsToAdditionalPaidInCapitalOther	981128	usd
	us-gaap	Adjustments To Additional Paid In Capital Other AdjustmentsToAdditionalPaidInCapitalOther	87124	usd
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	1228220	usd
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-3	usd
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect	-106576	usd
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect	-14477	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
CY2023Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	896	usd
CY2022Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	18812	usd
	us-gaap	Nature Of Operations NatureOfOperations	<p id="xdx_801_eus-gaap--NatureOfOperations_zrDNvxINEmHl" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Note 1 – <span id="xdx_822_zTwF8K6uuGJ1">ORGANIZATION AND NATURE OF BUSINESS</span></b></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: justify; background-color: white">Avant Technologies, Inc. is a technology company specializing in acquiring, creating, and developing innovative and advanced technologies utilizing artificial intelligence (AI) as well as providing a host of Information Technology consulting services. The Company consider itself native expert in the field of information technology based on artificial intelligence. Recently, the Company acquired Avant! AI™ and InstantFAME™, two technologies operating in multi-billion-dollar industries.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">Until said acquisitions, the Company's "Thy News" application was one of the Company's key projects. Thy News is a worldwide application used for processing news from multiple sources. Thy News was created for users who value their time but want to keep up with the latest in world news. The app offers the user the opportunity to create their own news feeds solely from those sources that are of interest to them, as well as creating additional news feeds segmented by topic.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">On May 23, 2023, the Company filed an application with the Financial Industry Regulation Authority (FINRA) in order to change the name and trading symbol of the Company. On July 18, 2023, FINRA announced the Company’s Name Change and Symbol Change, which became effective on July 19, 2023 on the OTC Markets. The Name Change and Symbol Change do not affect the rights of the Company’s security holders. The Company’s securities will continue to be quoted on the OTC Markets. Following the Name Change, the stock certificates, which reflect the former name of the Company, will continue to be valid. Certificates reflecting the Name Change will be issued in due course as old stock certificates are tendered for exchange or transfer to the Company’s transfer agent. </p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">Our virtual principal office address is located at c/o Eastbiz.com, Inc 5348 Vegas Drive, Las Vegas, NV 89108</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>Sale and Purchase of Ownership Interest Agreement</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On June 28, 2019 Avant Technologies, Inc. (formerly Trend Innovations Holding Inc.) a Nevada corporation (“Buyer”, “Company”), entered into a Sale and Purchase of Ownership Interest Agreement with ThyNews Tech LLC, a Wyoming corporation, (“Thynews Tech” or the “Seller”), wherein Avant Technologies, Inc. (formerly Trend Innovations Holding Inc.) purchased 100% of the ownership of Thynews Tech. Upon completion of the Agreement, Avant Technologies, Inc. (formerly Trend Innovations Holding Inc.) agreed to deliver to Thynews Tech’s owners a cumulative total of one hundred thousand (100,000) restricted shares of Avant Technologies, Inc. (formerly Trend Innovations Holding Inc.) treasury valued at One Dollar ($1.00) per share. The shares were to be delivered to Thynews Tech within 60 days following the execution of the agreement. Additionally, Avant Technologies, Inc. (formerly Trend Innovations Holding Inc.) provided to Thynews Tech’s owners, as consideration, a Promissory Note in the amount of One Hundred Thousand United States Dollars ($100,000 US). Avant Technologies, Inc. (formerly Trend Innovations Holding Inc.) acquired 100% of the ownership of duly and validly issued, fully paid and non-assessable ownership interest of ThyNews Tech LLC, including ThyNews Application. Prior to the transaction, Avant Technologies, Inc. (formerly Trend Innovations Holding Inc.) had 5,014,080 shares of common stock issued and outstanding. Upon the transaction, the additional 100,000 of Avant Technologies, Inc. (formerly Trend Innovations Holding Inc.) common stock were issued and outstanding. Upon the issuance of shares to Thynews, there were 5,014,080 shares of common stock issued and outstanding.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">8</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> </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">On March 30, 2020 Avant Technologies, Inc. (formerly Trend Innovations Holding Inc.), being represented by its President and Director, Natalija Tunevic, entered into Sale and Purchase of Ownership Interest Of 100% of Itnia Co. LLC, a Wyoming limited liability company which owns 100% of MB Lemalike Innovations, a Lithuanian IT consulting company with Mikhail Bukshpan. Upon completion of the Agreement, Avant Technologies, Inc. (formerly Trend Innovations Holding Inc.) agreed to deliver to Itnia Co. LLC’s owners a cumulative total of one hundred fifty thousand (150,000) restricted shares of Avant Technologies, Inc. (formerly Trend Innovations Holding Inc.) treasury valued at One Dollar ($1.00) per share. The shares were to be delivered to Mr. Bukshpan within the mutually agreed upon time frame following the execution of the agreement. Additionally, Avant Technologies, Inc. (formerly Trend Innovations Holding Inc.) were to provide to Mr. Bukshpan, as consideration, a Promissory Note in the amount of One Hundred and Fifty Thousand United States Dollars ($150,000 US).</p> <p style="font: 10pt 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"><b>MB Lemalike Innovations </b></p> <p style="font: 10pt 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">MB ‘Lemalike Innovations’, formerly known as MB ‘Repia’, was incorporated in Lithuania on October 9, 2017. The company was originally engaged in providing business and other consulting services for the companies intending to seek for new markets outside Lithuania. Recently the company has also been developing in the IT direction. In providing consultations, Lemalike Innovations helps enterprises in the Baltic countries looking for export opportunities. Lemalike Innovations is currently working to enter the area of implementing and consulting on the matter of Artificial Intelligence technologies.</p> <p style="font: 10pt 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">On January 31, 2020, Mr. Mikhail Bukshpan became the director of the entity. On March 10, 2020, he merged Lemalike Innovations into his limited liability company, Itnia Co. LLC. Upon that, on March 30, 2020, Itnia Co. LLC merged into Avant Technologies, Inc. (formerly Trend Innovations Holding Inc.) and became a part of the holding.</p> <p style="font: 10pt 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">On January 9, 2023, the Company transferred to Mikhail Bukshpan all rights, title and interest of one hundred percent (100%) of our wholly owned subsidiary, Itnia Co. LLC, which owns 100% of MB Lemalike Innovations, a Lithuanian IT company, in exchange for return for cancellation of his 5,000,000 common shares of the Company.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">The company’s registered office is located at Sv. Stepono g. 27D-2, LT-01315 Vilnius, Lithuania, and its virtual US office is</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">located at c/o Eastbiz.com, Inc 5348 Vegas Drive, Las Vegas, NV 89108.</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: justify"><b>Acquiring Avant! AI Assets</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt/11.75pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On April 3, 2023, the Company, entered into an Asset Purchase Agreement (“APA”) along with GBT Tokenize Corp. (“Seller”), which Seller developed and owns a proprietary system and method named Avant-Ai, which is a text-generation, deep learning self-training model that is working based on an innovative, unique concept which learns on its own and constantly enhances its information database with the advantage of unsupervised learning capabilities (the “System”).</p> <p style="font: 10pt/11.75pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 0 0; text-align: justify">At closing, in consideration of acquiring the System, the Company shall issue to the Seller 26,000,000 common shares of the Company (the “Shares”). The Shares will be restricted per Rule 144 as promulgated under the Securities Act of 1933, as amended (the “1933 Act”) and Seller agreed to a lock-up period of nine (9) months following closing (the “Lock Up Term”). In the event the Company is unable to up-list to Nasdaq either through a business combination or otherwise prior to the expiration of the Lock Up Term, the Seller may request within three (3) business days of the expiration of the Lock-Up Term, that all transactions contemplated by the APA be unwound.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 0 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 0 0; text-align: justify">In addition, the Company and Seller entered into a license agreement regarding the System, granting the Seller a perpetual, irrevocable, non-exclusive, non-transferable license for using the System.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 0 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Acquiring Instant Fame Assets</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 0 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 0 0; text-align: justify">On April 3, 2023, the Company, entered into an Asset Purchase Agreement (“Treasure APA”) with Treasure Drive Ltd. (“TD”) pursuant to which the Company agreed to acquire a technology portfolio including certain source codes and pending patent applications which have applications in a variety of areas including creating systems and methods of facilitating digital rating and secured sales of digital works as well as core virtual reality platforms known as digital auction systems, rating and secure sales via open bid auctions (“Instant Fame Assets”). </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 0 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">9</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><br/> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 5.2pt 0 0; text-align: justify; background-color: white">At closing, in consideration of the Instant Fame Assets, the Company shall issue to TD 5,000 convertible preferred shares of the Company with a stated valued at $5,000 per share each (the “Preferred Shares Series A”). The Preferred Shares Series A may be converted at the option of TD into the Company shares of common stock at a conversion price equal to a 5% discount to the weighted average closing price during the five (5) days prior of such conversion, and will include a 4.99% beneficial ownership limitation. The Preferred Shares Series A will have voting rights on an as converted and will be entitled to a payment equal to the stated value of the Preferred Shares Series A in the event of the Company liquidation only. In the event the Company is unable to up-list to Nasdaq either through a business combination or otherwise prior to the expiration of the Lock Up Term, TD may request within three (3) business days of the expiration of the Lock-Up Term, that all transactions contemplated by the Treasure APA be unwound.</p> <p style="font: 10pt 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">In addition, the Company and Elentina Group, LLC (“Elentina”) entered into a Service Agreements in which Elentina, was engaged to provide certain capital markets services for a flat quarterly fee of $75,000 paid in shares of common stock (the “Eletina Common Stock”). The Elentina Common Stock to be issued within five days of the first day of quarter during the term (ie January 1, April 1, July 1 and October 1). The Eletina Common Stock shall be fully earned upon issuance. The number of shares of Eletina Common Stock to be issued will be determined by dividing the quarterly fee of $75,000 by the Company’s ten (10) day VWAP, which shall at no point be less than $0.10 per share.</p> <p style="font: 10pt 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; background-color: white"><span style="background-color: white">In connection with the offering, the Company filed a Certificate of Designation to its Articles of Incorporation designating 5,000 shares of its Preferred Stock of Series A.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"> </p>
	us-gaap	Use Of Estimates UseOfEstimates	<p id="xdx_84D_eus-gaap--UseOfEstimates_z9vFJzW3uWF1" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><span id="xdx_863_zIjZ5iliYrF7">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>
	us-gaap	Property Plant And Equipment Preproduction Design And Development Costs PropertyPlantAndEquipmentPreproductionDesignAndDevelopmentCosts	<p id="xdx_843_eus-gaap--PropertyPlantAndEquipmentPreproductionDesignAndDevelopmentCosts_z8Xb1E7YH9Le" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><span id="xdx_86A_z86RtV8aWKm8">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>
	us-gaap	Revenue Recognition Accounting Policy Gross And Net Revenue Disclosure RevenueRecognitionAccountingPolicyGrossAndNetRevenueDisclosure	<p id="xdx_847_eus-gaap--RevenueRecognitionAccountingPolicyGrossAndNetRevenueDisclosure_z7RYOHv8DTEb" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><span id="xdx_868_zprABWgSI2j">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: 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: center">11</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><br/> </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"> </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>
CY2023Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	1500	usd
CY2023Q4	us-gaap	Intangible Assets Current IntangibleAssetsCurrent	253199	usd
CY2023Q1	us-gaap	Intangible Assets Current IntangibleAssetsCurrent	133760	usd
CY2023Q4	us-gaap	Preferred Stock Share Subscriptions PreferredStockShareSubscriptions	10000000	shares
CY2023Q4	us-gaap	Warrants And Rights Outstanding WarrantsAndRightsOutstanding	84794378	usd

Files In Submission

Name	View Source	Status
0001740797-24-000010-index-headers.html	Edgar Link	pending
0001740797-24-000010-index.html	Edgar Link	pending
0001740797-24-000010.txt	Edgar Link	pending
0001740797-24-000010-xbrl.zip	Edgar Link	pending
avai-20231231.xsd	Edgar Link	pending
avai10q_dec312023.htm	Edgar Link	pending
ex31.htm	Edgar Link	pending
ex32.htm	Edgar Link	pending
Financial_Report.xlsx	Edgar Link	pending
MetaLinks.json	Edgar Link	pending
R1.htm	Edgar Link	pending
R10.htm	Edgar Link	pending
R11.htm	Edgar Link	pending
R12.htm	Edgar Link	pending
R13.htm	Edgar Link	pending
R14.htm	Edgar Link	pending
R15.htm	Edgar Link	pending
R16.htm	Edgar Link	pending
R17.htm	Edgar Link	pending
R18.htm	Edgar Link	pending
R19.htm	Edgar Link	pending
R2.htm	Edgar Link	pending
R3.htm	Edgar Link	pending
R4.htm	Edgar Link	pending
R5.htm	Edgar Link	pending
R6.htm	Edgar Link	pending
R7.htm	Edgar Link	pending
R8.htm	Edgar Link	pending
R9.htm	Edgar Link	pending
report.css	Edgar Link	pending
Show.js	Edgar Link	pending
avai-20231231_def.xml	Edgar Link	unprocessable
avai-20231231_lab.xml	Edgar Link	unprocessable
avai-20231231_pre.xml	Edgar Link	unprocessable
FilingSummary.xml	Edgar Link	unprocessable
avai10q_dec312023_htm.xml	Edgar Link	completed
avai-20231231_cal.xml	Edgar Link	unprocessable

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$AVAI
AVANT TECHNOLOGIES INC. Stock $avai

2024 Q1 Form 10-Q Financial Statement

#000174079724000010 Filed on February 14, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$AVAI AVANT TECHNOLOGIES INC. Stock $avai

2024 Q1 Form 10-Q Financial Statement

#000174079724000010 Filed on February 14, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$AVAI
AVANT TECHNOLOGIES INC. Stock $avai