AVANT TECHNOLOGIES Reports Material Agreement & Officer Changes

TL;DR

**AVANT TECHNOLOGIES just announced a major deal and leadership shake-up, but the details are missing.**

AI Summary

AVANT TECHNOLOGIES INC. filed an 8-K on January 31, 2024, reporting events from January 26, 2024. This filing indicates the company entered into a material definitive agreement and experienced changes in its directors or officers, including compensatory arrangements. While the filing confirms these events, it does not provide specific details about the agreement, the individuals involved, or the financial terms. This matters to investors because without these specifics, it's impossible to assess the potential impact on the company's future performance or stock value, leaving them in the dark about significant corporate actions.

Why It Matters

This filing signals significant corporate actions, including a new material agreement and changes in leadership, which could profoundly affect AVANT TECHNOLOGIES INC.'s strategic direction and financial health.

Risk Assessment

Risk Level: medium — The lack of specific details regarding the material agreement and officer changes introduces uncertainty and makes it difficult to assess the potential risks or benefits.

Analyst Insight

A smart investor would hold off on making any significant decisions regarding AVANT TECHNOLOGIES INC. stock until more detailed information about the material agreement and leadership changes is disclosed, as the current filing lacks the specifics needed for proper evaluation.

Key Players & Entities

• AVANT TECHNOLOGIES INC. (company) — the registrant filing the 8-K
• TREND INNOVATIONS HOLDING INC. (company) — former name of AVANT TECHNOLOGIES INC.
• January 26, 2024 (date) — date of the earliest event reported
• January 31, 2024 (date) — date the 8-K was filed

FAQ

Key Financial Figures

• $275,000 — l receive an annual base cash salary of $275,000 plus an annual cash bonus up to 35% of
• $0.10 — discount shall at no point be less than $0.10 per share. Notwithstanding the forego
• $500,000 — hall pay a one-time up-listing bonus of $500,000 in the form of an RSA, which shall be p

Filing Documents

• form8k_avai.htm (8-K) — 27KB
• emp_10.htm (EX-10.1) — 63KB
• image_002.gif (GRAPHIC) — 0KB
• 0001740797-24-000007.txt ( ) — 272KB
• avai-20240126.xsd (EX-101.SCH) — 3KB
• avai-20240126_lab.xml (EX-101.LAB) — 33KB
• avai-20240126_pre.xml (EX-101.PRE) — 22KB
• form8k_avai_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement On January 26, 2024, the Avant Technologies, Inc. (the "Company") entered into an Employment Agreement (the "Agreement") with Angela Harris and appointed Mrs. Harris to assume the role of Chief Operating Officer (the "COO") for the Company. Angela Harris is not a relative of any director or executive officer of the Company and does not own more than 5% of the Company's outstanding common stock. Angela Harris will undertake the responsibilities of COO, starting February 1, 2024 (the "Start Date") without concurrent membership on the board but as a member of the Senior Management Team.

02 Departure of Directors or Certain Officers;

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers In consideration for serving as COO, Mrs. Harris will receive an annual base cash salary of $275,000 plus an annual cash bonus up to 35% of the annual base salary, to be paid no later than March 15th of the year immediately following the year in which the bonus was earned. In addition, Mrs. Harris will be eligible to equity compensation as follows: (i) Incentive Stock Options (ISOs): Effective upon the Start Date, Mrs. Harris shall receive an initial options grant in the form of an ISO, in a quantity equivalent to 2.0% of the total outstanding common stock of the Company at that date, subject to the following key terms: (a) 4-year vesting, with 1-year cliff (25% to vest immediately on the 1-yr anniversary of the Start Date, the remaining 75% to ratably vest monthly (1/36 each month) thereafter); (ii) Restricted Stock Awards (RSAs): The Company shall grant Mrs. Harris a bonus to Employee in an amount equal to the estimated tax owed by Employee in connection to the RSA Issuance. The number of shares of common stock to be issued in such case will be determined by dividing that portion of the RSA payable in Stock by 85% of the Company's ten-day Volume Weighted Average Price ("VWAP") of the Company's shares of common stock, for the ten-day period immediately prior to the date of issuance. This represents a 15% discount to the relevant VWAP, which discount shall at no point be less than $0.10 per share. Notwithstanding the foregoing, if the Company is listed on Nasdaq or any other National Stock Exchange while Mrs. Harris is employed by, or performing advisory services for, the Company in any capacity, the Company shall pay a one-time up-listing bonus of $500,000 in the form of an RSA, which shall be payable within ten days of the effective date of the listing. Payment shall be made in shares of common stock of

01 Financial Statements and

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 Employment Agreement between Avant Technologies Inc. and Angela Harris dated January 26, 2023

SIGNATURES

SIGNATURES In accordance with the requirements of the Securities Act of 1933, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Dated: January 31, 2023 AVANT TECHNOLOGIES, INC. By: /s/ Vitalis Racius Name: Vitalis Racius Title: Chief Financial Officer, Director & Treasurer

View Full Filing

View this 8-K filing on SEC EDGAR