2021 Form 10-K Financial Statement
#000149315222008189 Filed on March 30, 2022
Income Statement
| Concept | 2021 | 2020 Q4 | 2020 |
|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Cost Of Revenue | |||
| YoY Change | |||
| Gross Profit | |||
| YoY Change | |||
| Gross Profit Margin | |||
| Selling, General & Admin | $8.035M | $366.0K | $949.0K |
| YoY Change | 746.68% | 335.32% | |
| % of Gross Profit | |||
| Research & Development | $14.99M | $3.300M | $7.940M |
| YoY Change | 88.75% | 155.14% | |
| % of Gross Profit | |||
| Depreciation & Amortization | $15.00K | $1.000K | $1.000K |
| YoY Change | 1400.0% | ||
| % of Gross Profit | |||
| Operating Expenses | $23.02M | $3.663M | $8.889M |
| YoY Change | 158.99% | 166.94% | |
| Operating Profit | -$23.02M | ||
| YoY Change | |||
| Interest Expense | $0.00 | -$75.00K | |
| YoY Change | |||
| % of Operating Profit | |||
| Other Income/Expense, Net | -$3.000K | -$3.000K | -$647.0K |
| YoY Change | -99.54% | -64800.0% | |
| Pretax Income | -$22.96M | -$3.666M | -$9.611M |
| YoY Change | 138.89% | 188.71% | |
| Income Tax | $3.000K | ||
| % Of Pretax Income | |||
| Net Earnings | -$22.96M | -$3.666M | -$9.611M |
| YoY Change | 138.92% | 188.62% | |
| Net Earnings / Revenue | |||
| Basic Earnings Per Share | -$1.87 | ||
| Diluted Earnings Per Share | -$993.7K | -$158.6K | -$415.9K |
| COMMON SHARES | |||
| Basic Shares Outstanding | 12.29M | ||
| Diluted Shares Outstanding | 12.29M |
Balance Sheet
| Concept | 2021 | 2020 Q4 | 2020 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $167.4M | $4.573M | |
| YoY Change | 3560.07% | 30.14% | |
| Cash & Equivalents | $4.573M | ||
| Short-Term Investments | $113.2M | ||
| Other Short-Term Assets | $6.958M | $103.0K | |
| YoY Change | 6655.34% | ||
| Inventory | |||
| Prepaid Expenses | |||
| Receivables | |||
| Other Receivables | |||
| Total Short-Term Assets | $174.3M | $4.676M | $4.676M |
| YoY Change | 3628.25% | 33.07% | |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $728.0K | $39.00K | $39.00K |
| YoY Change | 1766.67% | ||
| Goodwill | |||
| YoY Change | |||
| Intangibles | |||
| YoY Change | |||
| Long-Term Investments | |||
| YoY Change | |||
| Other Assets | $302.0K | ||
| YoY Change | |||
| Total Long-Term Assets | $1.030M | $39.00K | $39.00K |
| YoY Change | 2541.03% | ||
| TOTAL ASSETS | |||
| Total Short-Term Assets | $174.3M | $4.676M | $4.676M |
| Total Long-Term Assets | $1.030M | $39.00K | $39.00K |
| Total Assets | $175.4M | $4.715M | $4.715M |
| YoY Change | 3619.26% | 34.18% | |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $1.208M | $618.0K | |
| YoY Change | 95.47% | 14.02% | |
| Accrued Expenses | $1.199M | $1.138M | |
| YoY Change | 5.36% | 925.23% | |
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $0.00 | $0.00 | |
| YoY Change | |||
| Long-Term Debt Due | |||
| YoY Change | |||
| Total Short-Term Liabilities | $2.550M | $1.774M | $1.774M |
| YoY Change | 43.74% | 170.02% | |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $0.00 | $0.00 | |
| YoY Change | -100.0% | ||
| Other Long-Term Liabilities | $395.0K | ||
| YoY Change | |||
| Total Long-Term Liabilities | $395.0K | $0.00 | |
| YoY Change | -100.0% | ||
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $2.550M | $1.774M | $1.774M |
| Total Long-Term Liabilities | $395.0K | $0.00 | |
| Total Liabilities | $2.945M | $1.774M | |
| YoY Change | 66.01% | -43.81% | |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | -$13.41M | ||
| YoY Change | |||
| Common Stock | $0.00 | ||
| YoY Change | |||
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | $172.4M | -$13.34M | $2.941M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $175.4M | $4.715M | $4.715M |
| YoY Change | 3619.26% | 34.18% |
Cashflow Statement
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2020Q4 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
276000 | USD |
| CY2020Q4 | us-gaap |
Short Term Investments
ShortTermInvestments
|
USD | |
| CY2020Q4 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
USD | |
| CY2020Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
USD | |
| CY2020Q4 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
USD | |
| CY2020Q4 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
USD | |
| CY2020Q4 | us-gaap |
Other Liabilities
OtherLiabilities
|
USD | |
| CY2021Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
USD | |
| CY2020Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
USD | |
| CY2020Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
USD | |
| CY2020Q4 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
USD | |
| CY2021 | avte |
Fair Value Adjustment Of Convertible Promissory Notes
FairValueAdjustmentOfConvertiblePromissoryNotes
|
USD | |
| CY2020 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
USD | |
| CY2020 | us-gaap |
Debt Securities Trading Unrealized Loss
DebtSecuritiesTradingUnrealizedLoss
|
USD | |
| CY2020 | avte |
Issuance Of Series Redeemable Convertible Preferred Stock Upon Conversion Of Convertible Promissory Notes To Related Party
IssuanceOfSeriesRedeemableConvertiblePreferredStockUponConversionOfConvertiblePromissoryNotesToRelatedParty
|
USD | |
| CY2020 | avte |
Issuance Of Series Redeemable Convertible Preferred Stock Upon Conversion Of Convertible Promissory Notes To Related Party One
IssuanceOfSeriesRedeemableConvertiblePreferredStockUponConversionOfConvertiblePromissoryNotesToRelatedPartyOne
|
USD | |
| CY2020 | us-gaap |
Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
|
USD | |
| CY2021 | us-gaap |
Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
|
USD | |
| CY2021 | us-gaap |
Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
|
USD | |
| CY2020 | avte |
Accretion Of Discounts And Amortization Of Premiums On Investments Net
AccretionOfDiscountsAndAmortizationOfPremiumsOnInvestmentsNet
|
USD | |
| CY2021 | us-gaap |
Interest Expense
InterestExpense
|
USD | |
| CY2021 | avte |
Fair Value Adjustment Of Convertible Promissory Notes
FairValueAdjustmentOfConvertiblePromissoryNotes
|
USD | |
| CY2020 | us-gaap |
Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
|
USD | |
| CY2020 | avte |
Increase Decrease In Operating Lease Asseta And Liability
IncreaseDecreaseInOperatingLeaseAssetaAndLiability
|
USD | |
| CY2020 | avte |
Increase Decrease In Other Liabilities
IncreaseDecreaseInOtherLiabilities
|
USD | |
| CY2020 | us-gaap |
Payments To Acquire Investments
PaymentsToAcquireInvestments
|
USD | |
| CY2020 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
USD | |
| CY2020 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
USD | |
| CY2021 | us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
USD | |
| CY2021 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
USD | |
| CY2020 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
USD | |
| CY2020 | avte |
Conversion Of Redeemable Convertible Preferred Stock To Common Stock Upon Initial Public Offerings
ConversionOfRedeemableConvertiblePreferredStockToCommonStockUponInitialPublicOfferings
|
USD | |
| CY2020 | us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
USD | |
| CY2021 | avte |
Conversion Of Convertible Promissory Notes To Related Party To Redeemable Convertible Preferred Stock
ConversionOfConvertiblePromissoryNotesToRelatedPartyToRedeemableConvertiblePreferredStock
|
USD | |
| CY2021 | avte |
Conversion Of Convertible Promissory Notes To Related Party To Redeemable Convertible Preferred Stock One
ConversionOfConvertiblePromissoryNotesToRelatedPartyToRedeemableConvertiblePreferredStockOne
|
USD | |
| CY2020Q4 | us-gaap |
Short Term Investments
ShortTermInvestments
|
USD | |
| CY2020Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
USD | |
| CY2021 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
shares | |
| CY2021 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
||
| CY2021 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
|
shares | |
| CY2021 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
|
||
| CY2020Q4 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
USD | |
| CY2020Q4 | us-gaap |
Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
|
USD | |
| CY2020Q4 | us-gaap |
Deferred Tax Liabilities
DeferredTaxLiabilities
|
USD | |
| CY2021Q4 | us-gaap |
Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
|
USD | |
| CY2020Q4 | us-gaap |
Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
|
USD | |
| CY2021 | avte |
Income Tax Reconciliation Convertible Promissory Notes
IncomeTaxReconciliationConvertiblePromissoryNotes
|
USD | |
| CY2020 | avte |
Effective Income Tax Rate Reconciliation Research And Development Credits
EffectiveIncomeTaxRateReconciliationResearchAndDevelopmentCredits
|
USD | |
| CY2020 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
USD | |
| CY2019Q4 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
USD |
