10-Q Filing

AVANT TECHNOLOGIES INC. CIK: 1740797 Q3 2020

Filing Information

Form Type	10-Q
Accession Number	`0001740797-20-000003`
Period End Date	20191231
Filing Date	20200204
Fiscal Year	2020
Fiscal Period	Q3
XBRL Instance	none-20191231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 54 Cash Flow Statement 44 Stockholders Equity 12

Balance Sheet 64 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
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$102.00	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$498.00	USD	Point-in-time
Common stock shares issued and outstanding	`CommonStockSharesOutstanding`	5.01M	shares	Point-in-time
Common stock shares issued and outstanding	`CommonStockSharesOutstanding`	5.01M	shares	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$25.25K	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$8.04K	USD	Point-in-time
Prepaid rent	`PrepaidExpenseAndOtherAssetsCurrent`	$62.00	USD	Point-in-time
Prepaid rent	`PrepaidExpenseAndOtherAssetsCurrent`	$79.00	USD	Point-in-time
Retainer Asset	`OtherAssetsCurrent`	$55.00	USD	Point-in-time
Retainer Asset	`OtherAssetsCurrent`	$55.00	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$8.67K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$25.46K	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$175.00	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$400.00	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	`LongTermInvestmentsAndReceivablesNet`	$1.10K	USD	Point-in-time
Total Fixed assets	`LongTermInvestmentsAndReceivablesNet`	$1.32K	USD	Point-in-time
Accumulated depreciation - Website	`PublicUtilitiesPropertyPlantAndEquipmentAccumulatedDepreciation`	$-8.36K	USD	Point-in-time
Accumulated depreciation - Website	`PublicUtilitiesPropertyPlantAndEquipmentAccumulatedDepreciation`	$-4.63K	USD	Point-in-time
Website Development	`DevelopmentInProcess`	$8.36K	USD	Point-in-time
Website Development	`DevelopmentInProcess`	$8.36K	USD	Point-in-time
Accumulated Depreciation - Application	`RealEstateInvestmentPropertyAccumulatedDepreciation`	-	USD	Point-in-time
Accumulated Depreciation - Application	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$-16.23K	USD	Point-in-time
App Development Cost	`AppDevelopmentCost`	$97.40K	USD	Point-in-time
App Development Cost	`AppDevelopmentCost`	-	USD	Point-in-time
RSS Database	`PrepaidExpenseCurrentAndNoncurrent`	-	USD	Point-in-time
RSS Database	`PrepaidExpenseCurrentAndNoncurrent`	$75.00K	USD	Point-in-time
Total Intangible Assets	`IntangibleAssetsNetExcludingGoodwill`	$3.73K	USD	Point-in-time
Total Intangible Assets	`IntangibleAssetsNetExcludingGoodwill`	$156.17K	USD	Point-in-time
Right-of-use asset - Lease	`FiniteLivedIntangibleAssetOffMarketLeaseFavorableGross`	-	USD	Point-in-time
Right-of-use asset - Lease	`FiniteLivedIntangibleAssetOffMarketLeaseFavorableGross`	$320.00	USD	Point-in-time
Total Non-Current Assets	`NoncurrentAssets`	$320.00	USD	Point-in-time
Total Non-Current Assets	`NoncurrentAssets`	-	USD	Point-in-time
TOTAL ASSETS	`Assets`	$30.52K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$166.26K	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$6.00K	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$3.80K	USD	Point-in-time
Loan from Related Parties	`EmployeeRelatedLiabilitiesCurrent`	$68.14K	USD	Point-in-time
Loan from Related Parties	`EmployeeRelatedLiabilitiesCurrent`	$219.79K	USD	Point-in-time
Lease Liabilities - Short-term	`OtherShortTermInvestments`	-	USD	Point-in-time
Lease Liabilities - Short-term	`OtherShortTermInvestments`	$320.00	USD	Point-in-time
Notes payable - Related Party	`NotesPayableCurrent`	$75.00K	USD	Point-in-time
Notes payable - Related Party	`NotesPayableCurrent`	-	USD	Point-in-time
Retainers from Customers	`CustomerDepositsCurrent`	-	USD	Point-in-time
Retainers from Customers	`CustomerDepositsCurrent`	$6.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$80.14K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$298.92K	USD	Point-in-time
Total Liabilities	`TotalLiabilities`	$80.14K	USD	Point-in-time
Total Liabilities	`TotalLiabilities`	$298.92K	USD	Point-in-time
Common stock, $0.001 par value, 75,000,000 shares authorized; 5,014,080 and 5,014,080 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 5,014,080 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`	$-162.01K	USD	Point-in-time
Total Stockholder's Equity (Deficit)	`LiabilitiesAndStockholdersEquity`	$-132.66K	USD	Point-in-time
Total Stockholder's Equity (Deficit)	`LiabilitiesAndStockholdersEquity`	$-49.61K	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`	$166.26K	USD	Point-in-time

Income Statement 54 line items

Line Item	Tag	Value	Unit	Period
Sales	`CostOfGoodsAndServicesSold`	-	USD	3 Qtrs
Sales	`CostOfGoodsAndServicesSold`	$6.00K	USD	3 Qtrs
Sales	`CostOfGoodsAndServicesSold`	-	USD	1 Quarter
Sales	`CostOfGoodsAndServicesSold`	-	USD	1 Quarter
TOTAL INCOME	`NoninterestIncome`	-	USD	1 Quarter
TOTAL INCOME	`NoninterestIncome`	-	USD	3 Qtrs
TOTAL INCOME	`NoninterestIncome`	-	USD	1 Quarter
TOTAL INCOME	`NoninterestIncome`	$6.00K	USD	3 Qtrs
GROSS PROFIT	`GrossProfit`	-	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	-	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	-	USD	3 Qtrs
GROSS PROFIT	`GrossProfit`	$6.00K	USD	3 Qtrs
Application Development Expense	`ResearchAndDevelopmentExpense`	-	USD	3 Qtrs
Application Development Expense	`ResearchAndDevelopmentExpense`	-	USD	1 Quarter
Application Development Expense	`ResearchAndDevelopmentExpense`	$27.04K	USD	3 Qtrs
Application Development Expense	`ResearchAndDevelopmentExpense`	-	USD	1 Quarter
Depreciation Expense	`DepreciationAndAmortization`	$2.17K	USD	1 Quarter
Depreciation Expense	`DepreciationAndAmortization`	$2.64K	USD	3 Qtrs
Depreciation Expense	`DepreciationAndAmortization`	$8.19K	USD	1 Quarter
Depreciation Expense	`DepreciationAndAmortization`	$20.19K	USD	3 Qtrs
General and Administrative Expenses	`GeneralAndAdministrativeExpense`	$9.22K	USD	1 Quarter
General and Administrative Expenses	`GeneralAndAdministrativeExpense`	$29.71K	USD	3 Qtrs
General and Administrative Expenses	`GeneralAndAdministrativeExpense`	$12.65K	USD	3 Qtrs
General and Administrative Expenses	`GeneralAndAdministrativeExpense`	$121.00	USD	1 Quarter
Professional Fees	`ProfessionalFees`	$17.95K	USD	3 Qtrs
Professional Fees	`ProfessionalFees`	$7.99K	USD	1 Quarter
Professional Fees	`ProfessionalFees`	$1.61K	USD	1 Quarter
Professional Fees	`ProfessionalFees`	$28.33K	USD	3 Qtrs
Rent Expenses	`LeaseAndRentalExpense`	$237.00	USD	1 Quarter
Rent Expenses	`LeaseAndRentalExpense`	$1.23K	USD	3 Qtrs
Rent Expenses	`LeaseAndRentalExpense`	$828.00	USD	3 Qtrs
Rent Expenses	`LeaseAndRentalExpense`	$189.00	USD	1 Quarter
TOTAL OPERATING EXPENSES	`OperatingExpenses`	$10.16K	USD	1 Quarter
TOTAL OPERATING EXPENSES	`OperatingExpenses`	$51.53K	USD	3 Qtrs
TOTAL OPERATING EXPENSES	`OperatingExpenses`	$89.04K	USD	3 Qtrs
TOTAL OPERATING EXPENSES	`OperatingExpenses`	$19.57K	USD	1 Quarter
NET LOSS FROM OPERATIONS	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-19.57K	USD	1 Quarter
NET LOSS FROM OPERATIONS	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-51.53K	USD	3 Qtrs
NET LOSS FROM OPERATIONS	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-10.16K	USD	1 Quarter
NET LOSS FROM OPERATIONS	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-83.04K	USD	3 Qtrs
PROVISION FOR INCOME TAXES	`CurrentStateAndLocalTaxExpenseBenefit`	-	USD	3 Qtrs
PROVISION FOR INCOME TAXES	`CurrentStateAndLocalTaxExpenseBenefit`	-	USD	3 Qtrs
NET LOSS	`ProfitLoss`	$-10.16K	USD	1 Quarter
NET LOSS	`ProfitLoss`	$-19.57K	USD	1 Quarter
NET LOSS	`ProfitLoss`	$-83.04K	USD	3 Qtrs
NET LOSS	`ProfitLoss`	$-51.53K	USD	3 Qtrs
NET LOSS PER SHARE: BASIC AND DILUTED	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
NET LOSS PER SHARE: BASIC AND DILUTED	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
NET LOSS PER SHARE: BASIC AND DILUTED	`EarningsPerShareBasicAndDiluted`	-	USD	3 Qtrs
NET LOSS PER SHARE: BASIC AND DILUTED	`EarningsPerShareBasicAndDiluted`	-	USD	3 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`	4.53M	shares	3 Qtrs
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.01M	shares	3 Qtrs
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.01M	shares	1 Quarter

Cash Flow Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net Income	`OperatingIncomeLoss`	$-51.53K	USD	3 Qtrs
Net Income	`OperatingIncomeLoss`	$-83.04K	USD	3 Qtrs
Accumulated Depreciation	`Depreciation`	$2.64K	USD	3 Qtrs
Accumulated Depreciation	`Depreciation`	$3.96K	USD	3 Qtrs
Accounts Payable	`IncreaseDecreaseInAccountsPayable`	$1.10K	USD	3 Qtrs
Accounts Payable	`IncreaseDecreaseInAccountsPayable`	$72.72K	USD	3 Qtrs
Prepaid Expenses	`IncreaseDecreaseInPrepaidExpense`	$17.21K	USD	3 Qtrs
Prepaid Expenses	`IncreaseDecreaseInPrepaidExpense`	$-34.65K	USD	3 Qtrs
Prepaid Rent	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$597.00	USD	3 Qtrs
Prepaid Rent	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$63.00	USD	3 Qtrs
Retainer Asset	`IncreaseDecreaseInDepositOtherAssets`	$-55.00	USD	3 Qtrs
Retainer Asset	`IncreaseDecreaseInDepositOtherAssets`	-	USD	3 Qtrs
Retainers from Customers	`IncreaseDecreaseInCustomerAdvances`	$-6.00K	USD	3 Qtrs
Retainers from Customers	`IncreaseDecreaseInCustomerAdvances`	-	USD	3 Qtrs
Net cash provided in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$4.90K	USD	3 Qtrs
Net cash provided in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-81.90K	USD	3 Qtrs
Furniture and Equipment	`PaymentsForProceedsFromProductiveAssets`	-	USD	3 Qtrs
Furniture and Equipment	`PaymentsForProceedsFromProductiveAssets`	$-1.50K	USD	3 Qtrs
Website Development	`NoncashProjectAbandonmentCosts`	-	USD	3 Qtrs
Website Development	`NoncashProjectAbandonmentCosts`	$-8.36K	USD	3 Qtrs
App development cost	`ExplorationAbandonmentAndImpairmentExpense`	$-97.40K	USD	3 Qtrs
App development cost	`ExplorationAbandonmentAndImpairmentExpense`	-	USD	3 Qtrs
Accumulated Depreciation	`DepreciationNonproduction`	$16.23K	USD	3 Qtrs
Accumulated Depreciation	`DepreciationNonproduction`	-	USD	3 Qtrs
RSS Database	`PaymentsForProceedsFromOtherInvestingActivities`	-	USD	3 Qtrs
RSS Database	`PaymentsForProceedsFromOtherInvestingActivities`	$-75.00K	USD	3 Qtrs
Net cash used by Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-9.86K	USD	3 Qtrs
Net cash used by Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-156.17K	USD	3 Qtrs
Additional Paid in Capital	`PaymentsForCapitalImprovements`	-	USD	3 Qtrs
Additional Paid in Capital	`PaymentsForCapitalImprovements`	$24.34K	USD	3 Qtrs
Capital Stock	`ProceedsFromStockPlans`	$1.01K	USD	3 Qtrs
Capital Stock	`ProceedsFromStockPlans`	-	USD	3 Qtrs
Loan from Related Parties	`PaymentsForProceedsFromLoansAndLeases`	$151.66K	USD	3 Qtrs
Loan from Related Parties	`PaymentsForProceedsFromLoansAndLeases`	$62.01K	USD	3 Qtrs
Net cash provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$87.36K	USD	3 Qtrs
Net cash provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$151.66K	USD	3 Qtrs
Net cash increase for period	`CashPeriodIncreaseDecrease`	$396.00	USD	3 Qtrs
Net cash increase for period	`CashPeriodIncreaseDecrease`	$-4.40K	USD	3 Qtrs
Cash at beginning of period	`CashCashEquivalentsAndShortTermInvestments`	$102.00	USD	Point-in-time
Cash at beginning of period	`CashCashEquivalentsAndShortTermInvestments`	$5.69K	USD	Point-in-time
Cash at end of period	`Cash`	$1.29K	USD	Point-in-time
Cash at end of period	`Cash`	$498.00	USD	Point-in-time
Right-of-use assets obtained in exchange for lease obligations	`AssetRetirementObligationCashPaidToSettle`	-	USD	3 Qtrs
Right-of-use assets obtained in exchange for lease obligations	`AssetRetirementObligationCashPaidToSettle`	$320.00	USD	3 Qtrs

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-132.66K	USD	Point-in-time
Balance	`StockholdersEquity`	$-20.77K	USD	Point-in-time
Balance	`StockholdersEquity`	$-49.61K	USD	Point-in-time
Balance	`StockholdersEquity`	$3.26K	USD	Point-in-time
Shares issued	`StockIssuedDuringPeriodValueNewIssues`	$25.35K	USD	3 Qtrs
Net loss for the nine-months period	`NetIncomeLoss`	$-83.04K	USD	3 Qtrs
Net loss for the nine-months period	`NetIncomeLoss`	$-49.38K	USD	3 Qtrs
Net loss for the nine-months period	`NetIncomeLoss`	$-28.84K	USD	1 Quarter
Balance	`StockholdersEquity`	$-132.66K	USD	Point-in-time
Balance	`StockholdersEquity`	$-20.77K	USD	Point-in-time
Balance	`StockholdersEquity`	$-49.61K	USD	Point-in-time
Balance	`StockholdersEquity`	$3.26K	USD	Point-in-time

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