Avant Technologies Files Q2 2024 10-Q

TL;DR

Avant Tech's Q2 10-Q is in. Check financials.

AI Summary

Avant Technologies Inc. filed its quarterly report on August 19, 2024, for the period ending June 30, 2024. The company, previously known as Trend Innovations Holding Inc., operates in computer processing and data preparation services. The filing details financial information and operational updates for the quarter.

Why It Matters

This filing provides investors with the latest financial performance and operational status of Avant Technologies Inc., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: medium — As a smaller reporting company with limited publicly available financial detail in this excerpt, assessing the full risk profile requires a deeper dive into the complete filing.

Key Players & Entities

• AVANT TECHNOLOGIES INC. (company) — Filer
• TREND INNOVATIONS HOLDING INC. (company) — Former Company Name
• 06 Technology (company) — Organization Name
• 702-5091747 (dollar_amount) — Business Phone
• 20240630 (date) — Period of Report
• 20240819 (date) — Filing Date

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value AVAI OTC Markets Indica
• $1.00 — ng Inc.) treasury valued at One Dollar ($1.00) per share. The shares were to be deliv
• $100,000 — Hundred Thousand United States Dollars ($100,000 US). Avant Technologies, Inc. (formerly
• $150,000 — d Fifty Thousand United States Dollars ($150,000 US). MB Lemalike Innovations MB Lema
• $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

Filing Documents

• avai10q_30june2024.htm (10-Q) — 474KB
• ex31_1.htm (EX-31.1) — 7KB
• ex32_1.htm (EX-32.1) — 4KB
• ex32_2.htm (EX-32.2) — 4KB
• 0001740797-24-000042.txt ( ) — 2134KB
• avai-20240630.xsd (EX-101.SCH) — 14KB
• avai-20240630_cal.xml (EX-101.CAL) — 30KB
• avai-20240630_def.xml (EX-101.DEF) — 18KB
• avai-20240630_lab.xml (EX-101.LAB) — 134KB
• avai-20240630_pre.xml (EX-101.PRE) — 95KB
• avai10q_30june2024_htm.xml (XML) — 224KB

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 25 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 29 Item 4.

Controls and Procedures

Controls and Procedures 29 PART II OTHER INFORMATION: Item 1.

Legal Proceedings

Legal Proceedings 30 Item 1A

Risk Factors

Risk Factors 30 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 34 Item 3. Defaults Upon Senior Securities 34 Item 4. Mine Safety Disclosures 34 Item 5. Other Information 34 Item 6. Exhibits 35

Signatures

Signatures 35 3 PART I. FINANCIAL INFORMATION ITEM 1.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS The accompanying interim financial statements of Avant Technologies, Inc. (formerly Trend Innovations Holding Inc) ("the Company", "we", "us" or "our"), have been prepared without audit pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with United States generally accepted principles have been condensed or omitted pursuant to such rules and regulations. The interim financial statements are condensed and should be read in conjunction with the company's latest annual financial statements. In the opinion of management, the financial statements contain all material adjustments, consisting only of normal adjustments considered necessary to present fairly the financial condition, results of operations, and cash flows of the Company for the interim periods presented. 4 AVANT TECHNOLOGIES, INC. (f/k/a TREND INNOVATIONS HOLDING INC.) Consolidated Balance Sheets June 30, 2024 (Unaudited) March 31, 2024 ASSETS Current Assets Cash and Cash Equivalents $ 444 $ 281 Prepaid Expenses 58,036 115,685 Prepaid Rent - 116 Total Current Assets 58,480 116,082 Fixed Assets Accumulated Depreciation ( 1,500 ) ( 1,500 ) Furniture and Equipment (note 4) 1,500 1,500 Total Fixed Assets - - Intangible Assets, Net (note 5) 186,414 205,932 TOTAL ASSETS $ 244,894 $ 322,014 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Liabilities Current Liabilities Accounts Payable $ 1,520,661 $ 1,081,803 Loan from Related Parties (note 6) 634,892 406,777 Convertible Notes Payable (note 7) 75,000 201,000 Notes payable - Related Party 99,000 99,000 Total Current Liabilities 2,329,553 1,788,580 Total Liabilities 2,329,553 1,788,580 Stockholders' Equity (Deficit) Preferred stock, $ 0.001 par value, 20,000,000 shares authorized; 10,00

View Full Filing

View this 10-Q filing on SEC EDGAR