10-Q Filing

AVANT TECHNOLOGIES INC. CIK: 1740797 Q2 2020

Filing Information

Form Type	10-Q
Accession Number	`0001740797-19-000031`
Period End Date	20190930
Filing Date	20191113
Fiscal Year	2020
Fiscal Period	Q2
XBRL Instance	none-20190930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 54 Income Statement 54 Cash Flow Statement 44 Stockholders Equity 8

Balance Sheet 54 line items

Line Item	Tag	Value	Unit	Period
Common stock par value	`CommonStockValue`	$0.00	USD	Point-in-time
Common stock par value	`CommonStockValue`	$0.00	USD	Point-in-time
Common stock shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Common stock shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Common stock shares issued and outstanding	`CommonStockSharesOutstanding`	5.01M	shares	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$102.00	USD	Point-in-time
Common stock shares issued and outstanding	`CommonStockSharesOutstanding`	5.01M	shares	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$701.00	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$25.25K	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$8.04K	USD	Point-in-time
Prepaid rent	`PrepaidExpenseAndOtherAssets`	$62.00	USD	Point-in-time
Prepaid rent	`PrepaidExpenseAndOtherAssets`	-	USD	Point-in-time
Retainer Asset	`OtherAssetsNoncurrent`	$55.00	USD	Point-in-time
Retainer Asset	`OtherAssetsNoncurrent`	$55.00	USD	Point-in-time
Total Current Assets	`OtherAssetsCurrent`	$25.46K	USD	Point-in-time
Total Current Assets	`OtherAssetsCurrent`	$8.80K	USD	Point-in-time
Accumulated depreciation	`PublicUtilitiesPropertyPlantAndEquipmentAccumulatedDepreciation`	$175.00	USD	Point-in-time
Accumulated depreciation	`PublicUtilitiesPropertyPlantAndEquipmentAccumulatedDepreciation`	$325.00	USD	Point-in-time
Furniture and Equipment	`FurnitureAndFixturesGross`	$1.50K	USD	Point-in-time
Furniture and Equipment	`FurnitureAndFixturesGross`	$1.50K	USD	Point-in-time
Total Fixed assets	`AssetsNoncurrent`	$1.18K	USD	Point-in-time
Total Fixed assets	`AssetsNoncurrent`	$1.32K	USD	Point-in-time
Accumulated depreciation - Website	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$4.63K	USD	Point-in-time
Accumulated depreciation - Website	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$8.36K	USD	Point-in-time
Website Development	`OtherBorrowings`	$-8.36K	USD	Point-in-time
Website Development	`OtherBorrowings`	$-8.36K	USD	Point-in-time
Accumulated Depreciation - Application	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$8.12K	USD	Point-in-time
Accumulated Depreciation - Application	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	-	USD	Point-in-time
App Development Cost	`DevelopmentInProcess`	$97.40K	USD	Point-in-time
App Development Cost	`DevelopmentInProcess`	-	USD	Point-in-time
Total Intangible Assets	`IntangibleAssetsNetExcludingGoodwill`	$3.73K	USD	Point-in-time
Total Intangible Assets	`IntangibleAssetsNetExcludingGoodwill`	$89.28K	USD	Point-in-time
TOTAL ASSETS	`AssetsCurrent`	$99.25K	USD	Point-in-time
TOTAL ASSETS	`AssetsCurrent`	$30.52K	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$26.40K	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$6.00K	USD	Point-in-time
Loan from Related Parties	`LoansPayableCurrent`	$68.14K	USD	Point-in-time
Loan from Related Parties	`LoansPayableCurrent`	$195.34K	USD	Point-in-time
Retainers from Customers	`CustomerAdvancesAndDepositsCurrent`	-	USD	Point-in-time
Retainers from Customers	`CustomerAdvancesAndDepositsCurrent`	$6.00K	USD	Point-in-time
Total Current Liabilities	`OtherLiabilitiesCurrent`	$221.75K	USD	Point-in-time
Total Current Liabilities	`OtherLiabilitiesCurrent`	$80.14K	USD	Point-in-time
Total Liabilities	`LiabilitiesNoncurrent`	$221.75K	USD	Point-in-time
Total Liabilities	`LiabilitiesNoncurrent`	$80.14K	USD	Point-in-time
Common stock, $0.001 par value, 75,000,000 shares authorized; 5,014,080 and 4,000,000 shares issued and outstanding respectively	`CommonStockSharesIssued`	5,014.00	shares	Point-in-time
Common stock, $0.001 par value, 75,000,000 shares authorized; 5,014,080 and 4,000,000 shares issued and outstanding respectively	`CommonStockSharesIssued`	5,014.00	shares	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$24.34K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$24.34K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-78.96K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-151.84K	USD	Point-in-time
Total Stockholder's Equity (Deficit)	`LiabilitiesAndStockholdersEquity`	$-49.61K	USD	Point-in-time
Total Stockholder's Equity (Deficit)	`LiabilitiesAndStockholdersEquity`	$-122.49K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY (DEFICIT)	`Liabilities`	$30.52K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY (DEFICIT)	`Liabilities`	$99.25K	USD	Point-in-time

Income Statement 54 line items

Line Item	Tag	Value	Unit	Period
Sales	`GainLossOnSalesOfLoansNet`	$6.00K	USD	2 Qtrs
Sales	`GainLossOnSalesOfLoansNet`	-	USD	2 Qtrs
Sales	`GainLossOnSalesOfLoansNet`	-	USD	1 Quarter
Sales	`GainLossOnSalesOfLoansNet`	-	USD	1 Quarter
TOTAL INCOME	`InterestAndDividendIncomeOperating`	$6.00K	USD	2 Qtrs
TOTAL INCOME	`InterestAndDividendIncomeOperating`	-	USD	1 Quarter
TOTAL INCOME	`InterestAndDividendIncomeOperating`	-	USD	1 Quarter
TOTAL INCOME	`InterestAndDividendIncomeOperating`	-	USD	2 Qtrs
GROSS PROFIT	`GrossProfit`	-	USD	2 Qtrs
GROSS PROFIT	`GrossProfit`	$6.00K	USD	2 Qtrs
GROSS PROFIT	`GrossProfit`	-	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	-	USD	1 Quarter
Application Development Expense	`ResearchAndDevelopmentExpense`	-	USD	1 Quarter
Application Development Expense	`ResearchAndDevelopmentExpense`	-	USD	1 Quarter
Application Development Expense	`ResearchAndDevelopmentExpense`	$27.04K	USD	2 Qtrs
Application Development Expense	`ResearchAndDevelopmentExpense`	-	USD	2 Qtrs
Depreciation Expense	`DepreciationAndAmortization`	$472.00	USD	2 Qtrs
Depreciation Expense	`DepreciationAndAmortization`	$12.00K	USD	2 Qtrs
Depreciation Expense	`DepreciationAndAmortization`	$9.84K	USD	1 Quarter
Depreciation Expense	`DepreciationAndAmortization`	$472.00	USD	1 Quarter
General and Administrative Expenses	`GeneralAndAdministrativeExpense`	$12.53K	USD	2 Qtrs
General and Administrative Expenses	`GeneralAndAdministrativeExpense`	$20.48K	USD	2 Qtrs
General and Administrative Expenses	`GeneralAndAdministrativeExpense`	$3.23K	USD	1 Quarter
General and Administrative Expenses	`GeneralAndAdministrativeExpense`	$20.34K	USD	1 Quarter
Professional Fees	`ProfessionalFees`	$17.56K	USD	1 Quarter
Professional Fees	`ProfessionalFees`	$9.96K	USD	2 Qtrs
Professional Fees	`ProfessionalFees`	$26.71K	USD	2 Qtrs
Professional Fees	`ProfessionalFees`	$4.71K	USD	1 Quarter
Rent Expenses	`LeaseAndRentalExpense`	$190.00	USD	1 Quarter
Rent Expenses	`LeaseAndRentalExpense`	$592.00	USD	2 Qtrs
Rent Expenses	`LeaseAndRentalExpense`	$369.00	USD	1 Quarter
Rent Expenses	`LeaseAndRentalExpense`	$1.04K	USD	2 Qtrs
TOTAL OPERATING EXPENSES	`OperatingExpenses`	$31.96K	USD	2 Qtrs
TOTAL OPERATING EXPENSES	`OperatingExpenses`	$78.88K	USD	2 Qtrs
TOTAL OPERATING EXPENSES	`OperatingExpenses`	$30.99K	USD	1 Quarter
TOTAL OPERATING EXPENSES	`OperatingExpenses`	$26.72K	USD	1 Quarter
NET LOSS FROM OPERATIONS	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-26.72K	USD	1 Quarter
NET LOSS FROM OPERATIONS	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-30.99K	USD	1 Quarter
NET LOSS FROM OPERATIONS	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-31.96K	USD	2 Qtrs
NET LOSS FROM OPERATIONS	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-72.88K	USD	2 Qtrs
PROVISION FOR INCOME TAXES	`CurrentStateAndLocalTaxExpenseBenefit`	-	USD	2 Qtrs
PROVISION FOR INCOME TAXES	`CurrentStateAndLocalTaxExpenseBenefit`	-	USD	2 Qtrs
NET LOSS	`NetIncomeLossAllocatedToLimitedPartners`	$-72.88K	USD	2 Qtrs
NET LOSS	`NetIncomeLossAllocatedToLimitedPartners`	$-30.99K	USD	1 Quarter
NET LOSS	`NetIncomeLossAllocatedToLimitedPartners`	$-31.96K	USD	2 Qtrs
NET LOSS	`NetIncomeLossAllocatedToLimitedPartners`	$-26.72K	USD	1 Quarter
NET LOSS PER SHARE: BASIC AND DILUTED	`EarningsPerShareBasicAndDiluted`	-	USD	2 Qtrs
NET LOSS PER SHARE: BASIC AND DILUTED	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
NET LOSS PER SHARE: BASIC AND DILUTED	`EarningsPerShareBasicAndDiluted`	-	USD	2 Qtrs
NET LOSS PER SHARE: BASIC AND DILUTED	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.01M	shares	2 Qtrs
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.01M	shares	1 Quarter
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.23M	shares	1 Quarter
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED	`WeightedAverageNumberOfDilutedSharesOutstanding`	960,641.00	shares	2 Qtrs

Cash Flow Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net Income	`IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions`	$-31.96K	USD	2 Qtrs
Net Income	`IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions`	$-72.88K	USD	2 Qtrs
Accumulated Depreciation	`Depreciation`	$3.88K	USD	2 Qtrs
Accumulated Depreciation	`Depreciation`	$472.00	USD	2 Qtrs
Accounts Payable	`IncreaseDecreaseInAccountsPayable`	$63.00	USD	2 Qtrs
Accounts Payable	`IncreaseDecreaseInAccountsPayable`	$20.32K	USD	2 Qtrs
Prepaid Expenses	`IncreaseDecreaseInPrepaidExpense`	$17.20K	USD	2 Qtrs
Prepaid Expenses	`IncreaseDecreaseInPrepaidExpense`	$-42.53K	USD	2 Qtrs
Prepaid Rent	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$593.00	USD	2 Qtrs
Prepaid Rent	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$143.00	USD	2 Qtrs
Retainer Asset	`IncreaseDecreaseInDepositOtherAssets`	-	USD	2 Qtrs
Retainer Asset	`IncreaseDecreaseInDepositOtherAssets`	$-55.00	USD	2 Qtrs
Retainers from Customers	`ProceedsFromCustomers`	$-6.00K	USD	2 Qtrs
Retainers from Customers	`ProceedsFromCustomers`	-	USD	2 Qtrs
Net cash used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-73.41K	USD	2 Qtrs
Net cash used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-37.33K	USD	2 Qtrs
Furniture and Equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	-	USD	2 Qtrs
Furniture and Equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$-1.50K	USD	2 Qtrs
Website Development	`PaymentsToAcquireInProcessResearchAndDevelopment`	$-8.36K	USD	2 Qtrs
Website Development	`PaymentsToAcquireInProcessResearchAndDevelopment`	-	USD	2 Qtrs
App development cost	`AppDevelopmentCost`	$-97.40K	USD	2 Qtrs
App development cost	`AppDevelopmentCost`	-	USD	2 Qtrs
Accumulated Depreciation	`DepreciationNonproduction`	$8.12K	USD	2 Qtrs
Accumulated Depreciation	`DepreciationNonproduction`	-	USD	2 Qtrs
Net cash provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-89.28K	USD	2 Qtrs
Net cash provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-9.86K	USD	2 Qtrs
Additional Paid in Capital	`AdditionsToOtherAssetsAmount`	$24.34K	USD	2 Qtrs
Additional Paid in Capital	`AdditionsToOtherAssetsAmount`	-	USD	2 Qtrs
Capital Stock	`ProceedsFromContributionsFromAffiliates`	$1.01K	USD	2 Qtrs
Capital Stock	`ProceedsFromContributionsFromAffiliates`	-	USD	2 Qtrs
Loan from Related Parties	`PaymentsToAcquireLoansReceivable`	$60.70K	USD	2 Qtrs
Loan from Related Parties	`PaymentsToAcquireLoansReceivable`	$127.21K	USD	2 Qtrs
Net cash provided by Financing Activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$86.06K	USD	2 Qtrs
Net cash provided by Financing Activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$127.21K	USD	2 Qtrs
Net cash increase for period	`CashPeriodIncreaseDecrease`	$599.00	USD	2 Qtrs
Net cash increase for period	`CashPeriodIncreaseDecrease`	$2.78K	USD	2 Qtrs
Cash at beginning of period	`Cash`	$8.47K	USD	Point-in-time
Cash at beginning of period	`Cash`	$5.69K	USD	Point-in-time
Cash at beginning of period	`Cash`	$701.00	USD	Point-in-time
Cash at beginning of period	`Cash`	$102.00	USD	Point-in-time
Cash at end of period	`Cash`	$8.47K	USD	Point-in-time
Cash at end of period	`Cash`	$5.69K	USD	Point-in-time
Cash at end of period	`Cash`	$701.00	USD	Point-in-time
Cash at end of period	`Cash`	$102.00	USD	Point-in-time

Stockholders Equity 8 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-122.49K	USD	Point-in-time
Balance	`StockholdersEquity`	$-91.50K	USD	Point-in-time
Balance	`StockholdersEquity`	$-49.61K	USD	Point-in-time
Net loss for the three-months period	`NetIncomeLoss`	$-30.99K	USD	1 Quarter
Net loss for the three-months period	`NetIncomeLoss`	$-41.89K	USD	1 Quarter
Balance	`StockholdersEquity`	$-122.49K	USD	Point-in-time
Balance	`StockholdersEquity`	$-91.50K	USD	Point-in-time
Balance	`StockholdersEquity`	$-49.61K	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.