Avant Technologies Files 2024 Fiscal Year Amendment

TL;DR

Avant Tech (AVNT) filed its 2024 10-K amendment, showing updated financials for the year ending March 31.

AI Summary

Avant Technologies Inc. filed an amendment (10-K/A) on January 21, 2025, for its fiscal year ending March 31, 2024. The company, formerly known as Trend Innovations Holding Inc. and Freecook, is based in Las Vegas, NV, and operates in computer processing and data preparation services. The filing includes financial data for the fiscal years ending March 31, 2024, 2023, and 2022, detailing common stock, preferred stock, additional paid-in capital, accumulated other comprehensive income, and retained earnings.

Why It Matters

This amendment provides updated financial information for Avant Technologies Inc., crucial for investors and stakeholders to assess the company's performance and financial health as of March 31, 2024.

Risk Assessment

Risk Level: low — This filing is an amendment to a previous report and primarily contains updated financial data, not new material events.

Key Numbers

• 0331 2024 — Fiscal Year End (The amendment pertains to the fiscal year ending March 31, 2024.)
• 20250121 — Filing Date (The amendment was filed on January 21, 2025.)

Key Players & Entities

• AVANT TECHNOLOGIES INC. (company) — Filer
• TREND INNOVATIONS HOLDING INC. (company) — Former Company Name
• FREECOOK (company) — Former Company Name
• 702-5091747 (phone_number) — Business Phone
• 20250121 (date) — Filing Date
• 20240331 (date) — Fiscal Year End

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value AVAI OTC Markets Securi
• $0.99 — maintained by OTC Markets Group Inc. of $0.99. For purposes of this response, the reg
• $5,000 — of the Company with a stated valued at $5,000 per share each (the "Preferred Shares S
• $75,000 — ts services for a flat quarterly fee of $75,000 paid in shares of common stock (the "El
• $75,000 b — rmined by dividing the quarterly fee of $75,000 by the Company's ten (10) day VWAP, which
• $0.10 — P, which shall at no point be less than $0.10 per share. In connection with the offe
• $1,200,000 — missory note in the principal amount of $1,200,000 ("Secured Note") of the Company's Serie
• $1,000,000 — Preferred Stock with a stated value of $1,000,000 (the "Preferred Stock") The Secured No
• $52,427.22 — principal and interest in the amount of $52,427.22 on the first day of each month, beginni
• $1.00 — version price is equal to the lesser of $1.00 per share each, on a fully diluted basi
• $2,128,475 — uch, the Company incurred a net loss of $2,128,475 for the year ended March 31, 2024 and n
• $348,933 — ar ended March 31, 2024 and net loss of $348,933 for the year ended March 31, 2023. If w

Filing Documents

• avai10kmarch312024amend.htm (10-K/A) — 732KB
• ex31_1.htm (EX-31.1) — 7KB
• ex31_2.htm (EX-31.2) — 7KB
• ex32_1.htm (EX-32.1) — 4KB
• ex32_2.htm (EX-32.2) — 4KB
• pic1.jpg (GRAPHIC) — 89KB
• 0001740797-25-000005.txt ( ) — 2939KB
• avai-20240331.xsd (EX-101.SCH) — 16KB
• avai-20240331_cal.xml (EX-101.CAL) — 36KB
• avai-20240331_def.xml (EX-101.DEF) — 36KB
• avai-20240331_lab.xml (EX-101.LAB) — 156KB
• avai-20240331_pre.xml (EX-101.PRE) — 112KB
• avai10kmarch312024amend_htm.xml (XML) — 265KB

Selected Financial Data

Selected Financial Data. 16 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations. 17 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk. 22 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data. 22 Item 9. Changes In and Disagreements with Accountants on Accounting and Financial Disclosure. 47 Item 9A

Controls and Procedures

Controls and Procedures. 47 Item 9B. Other Information. 48 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections. 48 PART III Item 10 Directors, Executive Officers, Promoters and Control Persons of the Company. 48 Item 11.

Executive Compensation

Executive Compensation. 54 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters. 55 Item 13. Certain Relationships and Related Transactions, and Director Independence. 55 Item 14. Principal Accounting Fees and Services. 57 PART IV Item 15. Exhibits 57

Signatures

Signatures 58 3 In this annual report, references to "AVANT" "AVAI" "TREND", "TREN", or "the Company," or "we," or "us," and "our" refer to AVANT TECHNOLOGIES INC. (formerly TREND INNOVATIONS HOLDING INC.). Except for the historical information contained herein, some of the statements in this report contain forward-looking statements that involve risks and uncertainties. These statements are found in the sections entitled "Business," "Management's Discussion and Analysis of Financial Condition and Results of Operations," and "Quantitative and Qualitative Disclosures about Market Risk." They include statements concerning: our business strategy; expectations of market and customer response; liquidity and capital expenditures; future sources of revenues; expansion of our proposed product line; and trends in industry activity generally. In some cases, you can identify forward-looking statements by words such as "may," "will," "should," "expect," "plan," "could," "anticipate," "intend," "believe," "estimate," "predict," "potential," "goal," or "continue" or similar terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, including, but not limited to, the risks outlined under "Risk Factors," that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. For example, assumptions that could cause actual results to vary materially from future results include, but are not limited to our ability to successfully develop and market our products to customers; our ability to generate customer demand for our products in our target markets; the development of our target markets and market opportunities; our ability to manufacture suitable products at a competitive cost; marke

forward-looking statements

forward-looking statements. Below is a summary of material factors that make an investment in our securities speculative or risky. Importantly, this summary does not address all of the risks and uncertainties that we face. Additional discussion of the risks and uncertainties summarized in this risk factor summary, as well as other risks and uncertainties that we face, can be found under Risk Factors' in Part I, Item 1A of this Annual Report on Form 10-K. The below summary is qualified in its entirety by that more complete discussion of such risks and uncertainties. You should consider carefully the risks and uncertainties described under Risk Factors' in Part I, Item 1A of this Annual Report on Form 10-K as part of your evaluation of an investment in our securities. - We have a limited operating history in an evolving industry, which makes it difficult to evaluate our future prospects and may increase the risk that we will not be successful. - Our limited operating history makes it difficult for us to evaluate our future business prospects and make decisions based on those estimates of our future performance. - The COVID-19 outbreak caused disruptions in our development operations, which have resulted in delays in existing projects and may have additional negative impacts on our operations. - Our results of operations have not resulted in profitability and we may not be able to achieve profitability going forward. - We have not generated positive cash flow from operations and our ability to generate positive cash flow is uncertain. If we are unable to generate positive cash flow or obtain sufficient capital when needed, our business and future prospects will be adversely affected and we could be forced to suspend or discontinue operations. - We will require additional capital to support business growth and this capital might not be available on acceptable terms, if at all. - We depend upon key personnel and need additional personnel. - Our b

Description of Business

Item 1. Description of Business Overview Avant Technologies Inc. (formerly Trend Innovations Holding 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 considers itself a native expert in the field of information technology based on artificial intelligence. Recently, the Company acquired Avant! AI and InstantFAME as well as the assets of Wired4Health, Inc., pertaining to certain technology assets providing full-stack software development, database management, data integration, project management and cloud services resources. Utilize its latest assets acquisitions, Avant mission is to provide innovative and eective AI solutions that transform businesses and positively impact society. Avant strive to push the boundaries of AI technology and empower organizations to achieve their full potential. We believe that our technology can provide a self-sustained system that prepares its data from unlabeled information (Unsupervised Clustering), and then analyzes it using various, proprietary, supervised learning techniques, Improved data efficiency: Unsupervised learning pre-processes and extracts meaningful features from raw or unlabeled data, preparing them as inputs for the supervised learning model. This improves data efficiency and preparations. Our technology deployed over the acquired assets (in sum or as a whole) potentially provides True Learning from Experience - Unsupervised learning is utilized to learn relevant information from many source domains. This knowledge is then evaluated and applied to a related or different domain(s), where information might be in short supply. This feature is a true learning capability. Avant! can leverage the knowledge learned from the source domain to improve performance in the other domains, as well as Factual discovery/conclusion by lear

Risk Factors

Item 1A. Risk Factors As a Smaller Reporting Company, the Company is not required to include the disclosure under this Item 1A. Risk Factors. Despite the fact that we are not required to provide risk factors, we consider the following factors to be risks to our continued growth and development: WE HAVE A LIMITED OPERATING HISTORY IN AN EVOLVING INDUSTRY, WHICH MAKES IT DIFFICULT TO EVALUATE OUR FUTURE PROSPECTS AND MAY INCREASE THE RISK THAT WE WILL NOT BE SUCCESSFUL. We have a limited operating history in an evolving industry that may not develop as expected. Assessing our business and future prospects is challenging in light of the risks and difficulties we may encounter. These risks and difficulties include our ability to: - accurately forecast our revenues and plan our operating expenses; - successfully expand our business; - assimilate our acquisitions; - adapt to rapidly evolving trends in the ways consumers and businesses interact with technology; - avoid interruptions or disruptions in the offering of our products and our services; - develop a scalable, high-performance technology infrastructure that can efficiently and reliably handle increased usage, as well as the deployment of new features and products; - hire, integrate and retain talented sales, customer service, technology and other personnel; and - effectively manage rapid growth in personnel and operations; and - global COVID-19 pandemic If the demand for our services and/or platforms/products offered or our products under development are not finalized, our business will be harmed. We may not be able to successfully address these risks and difficulties, which could harm our business and results of operations. OUR LIMITED OPERATING HISTORY MAKES IT DIFFICULT FOR US TO EVALUATE OUR FUTURE BUSINESS PROSPECTS AND MAKE DECISIONS BASED ON THOSE ESTIMATES OF OUR FUTURE PERFORMANCE. We have a limited operating history and, as a consequence, it is difficult, if not impossi

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