Avant Technologies Completes Acquisition, Enters New Agreements

TL;DR

Avant Tech just bought stuff, signed deals, and sold some stock. Big moves happening.

AI Summary

Avant Technologies Inc. announced on April 5, 2024, the completion of an acquisition of assets. The company also entered into a material definitive agreement and incurred a direct financial obligation. Additionally, Avant Technologies Inc. reported on unregistered sales of equity securities and filed financial statements and exhibits.

Why It Matters

This filing indicates significant corporate activity for Avant Technologies Inc., including asset acquisition and new financial commitments, which could impact its future operations and financial standing.

Risk Assessment

Risk Level: medium — The filing details material definitive agreements, asset acquisitions, and financial obligations, suggesting significant strategic shifts and potential financial risks for the company.

Key Players & Entities

• AVANT TECHNOLOGIES INC. (company) — Registrant
• TREND INNOVATIONS HOLDING INC. (company) — Former Company Name
• FREECOOK (company) — Former Company Name
• April 5, 2024 (date) — Date of earliest event reported
• 0001740797-24-000013 (document_id) — Accession Number

FAQ

Key Financial Figures

• $2,200,000 — ing the Assets, the Company paid Seller $2,200,000 through a combination of an amortizing
• $1,200,000 — missory note in the principal amount of $1,200,000 ("Secured Note") of the Company's Serie
• $52,427.22 — principal and interest in the amount of $52,427.22 on the first day of each month, beginni
• $1,000,000 — ries B has an aggregate stated value of $1,000,000, where the conversion price is equal to
• $1.00 — version price is equal to the lesser of $1.00 per share each, on a fully diluted basi

Filing Documents

• avai_8k.htm (8-K) — 37KB
• ex10_1.htm (EX-10.1) — 49KB
• ex10_2.htm (EX-10.2) — 45KB
• ex10_3.htm (EX-10.3) — 22KB
• 0001740797-24-000013.txt ( ) — 352KB
• avai-20240405.xsd (EX-101.SCH) — 3KB
• avai-20240405_lab.xml (EX-101.LAB) — 33KB
• avai-20240405_pre.xml (EX-101.PRE) — 22KB
• avai_8k_htm.xml (XML) — 3KB

01 Entry

Item 1.01 Entry Into a Material Definitive Agreement. Item 2.01 Completion of Acquisition or Disposition of Assets Item 2.03. Creation of a Direct Financial Obligation or an Obligations under an Off-Balance Sheet Arrangement of a Registrant.

02 Unregistered

Item 3.02 Unregistered Sales of Equity Securities On April 5, 2024, Avant Technologies, Inc. (the "Company" or "AVAI"), entered into an Asset Purchase Agreement ("APA") with Wired4Health, Inc. ("Seller" or "W4H"), pertaining to certain technology assets, providing full-stack software development, database management, data integration, project management and cloud services resources. The assets being acquired include an agreement and amendments between W4H and Sentry Data Systems/Craneware, an agreement between W4H and Respec, Inc., agreements between W4H and all of its employees and contractors assigned to Sentry Data Systems/Craneware and Respec, Inc. customer accounts, Website and Internet Domain Name, Wired4Health.com and all of its content (the "Website"), and any other rights associated with the Website, including, without limitation, any intellectual property rights, all related domains, logos, customer lists and agreements, email lists, passwords, usernames and trade names, and all of the related social media accounts, if any, and any other associated rights, etc. (the "Assets"). At closing, in consideration of acquiring the Assets, the Company paid Seller $2,200,000 through a combination of an amortizing secured promissory note in the principal amount of $1,200,000 ("Secured Note") of the Company's Series B Convertible Preferred Stock (the "Preferred Stock") The Secured Note is payable by the Company to the Seller in 24 equal monthly installments of principal and interest in the amount of $52,427.22 on the first day of each month, beginning on the first day of the month following the closing of the transaction and continuing on the first day of each consecutive month thereafter until the note is fully paid, but in no case less than two billing cycles of W4H activity. The Secured Note bears interest of five percent (5%) per annum accrued monthly (0.42% per month on the outstanding principal balance). The Preferred Stock Series B has an aggregate state

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: April 8, 2024 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