10-K Filing

AVANT TECHNOLOGIES INC. CIK: 1740797 FY 2019

Filing Information

Form Type	10-K
Accession Number	`0001740797-20-000018`
Period End Date	20200331
Filing Date	20200813
Fiscal Year	2019
Fiscal Period	FY
XBRL Instance	none-20200331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 30 Cash Flow Statement 58 Stockholders Equity 10

Balance Sheet 74 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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$27.30K	USD	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
Common stock shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Common stock shares issued and outstanding	`CommonStockSharesOutstanding`	1.06M	shares	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$25.31K	USD	Point-in-time
Common stock shares issued and outstanding	`CommonStockSharesOutstanding`	5.01M	shares	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$9.24K	USD	Point-in-time
Loan Receivable	`LoansAndLeasesReceivableNetReportedAmount`	-	USD	Point-in-time
Loan Receivable	`LoansAndLeasesReceivableNetReportedAmount`	$80.98K	USD	Point-in-time
Accounts Receivables	`OtherReceivables`	$29.57K	USD	Point-in-time
Accounts Receivables	`OtherReceivables`	-	USD	Point-in-time
Purchase of goods for resale	`TradingLiabilities`	$114.00	USD	Point-in-time
Purchase of goods for resale	`TradingLiabilities`	-	USD	Point-in-time
Retainer Asset	`RetainedInterestFairValueDisclosure`	$55.00	USD	Point-in-time
Retainer Asset	`RetainedInterestFairValueDisclosure`	$55.00	USD	Point-in-time
VAT receivables	`ReceivablesNetCurrent`	-	USD	Point-in-time
VAT receivables	`ReceivablesNetCurrent`	$1.10K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$25.46K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$148.36K	USD	Point-in-time
Accumulated depreciation	`PublicUtilitiesPropertyPlantAndEquipmentAccumulatedDepreciation`	$-5.55K	USD	Point-in-time
Accumulated depreciation	`PublicUtilitiesPropertyPlantAndEquipmentAccumulatedDepreciation`	$-175.00	USD	Point-in-time
Furniture and Equipment	`FurnitureAndFixturesGross`	$1.50K	USD	Point-in-time
Furniture and Equipment	`FurnitureAndFixturesGross`	$1.50K	USD	Point-in-time
Vehicles	`MachineryAndEquipmentGross`	$55.09K	USD	Point-in-time
Vehicles	`MachineryAndEquipmentGross`	-	USD	Point-in-time
Total Fixed Assets	`AssetsNoncurrent`	$51.03K	USD	Point-in-time
Total Fixed Assets	`AssetsNoncurrent`	$1.32K	USD	Point-in-time
Accumulated depreciation	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$-4.63K	USD	Point-in-time
Accumulated depreciation	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$-36.46K	USD	Point-in-time
App Development Cost	`DevelopmentInProcess`	-	USD	Point-in-time
App Development Cost	`DevelopmentInProcess`	$97.40K	USD	Point-in-time
RSS Database	`RssDatabase`	$149.00K	USD	Point-in-time
RSS Database	`RssDatabase`	-	USD	Point-in-time
Website Development	`CapitalizedSoftwareDevelopmentCostsForSoftwareSoldToCustomers`	$8.36K	USD	Point-in-time
Website Development	`CapitalizedSoftwareDevelopmentCostsForSoftwareSoldToCustomers`	$8.36K	USD	Point-in-time
Total Intangible Assets	`IntangibleAssetsNetExcludingGoodwill`	$218.30K	USD	Point-in-time
Total Intangible Assets	`IntangibleAssetsNetExcludingGoodwill`	$3.73K	USD	Point-in-time
Deferred expenses	`DeferredCosts`	$1.96K	USD	Point-in-time
Deferred expenses	`DeferredCosts`	-	USD	Point-in-time
Right-of-use asset - Lease	`OtherBorrowings`	$320.00	USD	Point-in-time
Right-of-use asset - Lease	`OtherBorrowings`	-	USD	Point-in-time
Total Other Assets	`OtherAssetsNoncurrent`	-	USD	Point-in-time
Total Other Assets	`OtherAssetsNoncurrent`	$2.27K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$419.97K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$30.52K	USD	Point-in-time
Accrued Liabilities	`AccruedLiabilitiesCurrent`	$13.55K	USD	Point-in-time
Accrued Liabilities	`AccruedLiabilitiesCurrent`	-	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$50.82K	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$6.00K	USD	Point-in-time
Loan from Related Parties	`EmployeeRelatedLiabilitiesCurrent`	$68.14K	USD	Point-in-time
Loan from Related Parties	`EmployeeRelatedLiabilitiesCurrent`	$241.23K	USD	Point-in-time
Notes payable - Related Party	`NotesPayableCurrent`	$149.00K	USD	Point-in-time
Notes payable - Related Party	`NotesPayableCurrent`	-	USD	Point-in-time
Retainers from Customers	`CustomerDepositsCurrent`	$2.75K	USD	Point-in-time
Retainers from Customers	`CustomerDepositsCurrent`	$6.00K	USD	Point-in-time
Lease Liabilities - Short-term	`OtherShortTermInvestments`	-	USD	Point-in-time
Lease Liabilities - Short-term	`OtherShortTermInvestments`	$-320.00	USD	Point-in-time
Total Current Liabilities	`OtherLiabilitiesCurrent`	$457.66K	USD	Point-in-time
Total Current Liabilities	`OtherLiabilitiesCurrent`	$80.14K	USD	Point-in-time
Total Liabilities	`LiabilitiesNoncurrent`	$457.66K	USD	Point-in-time
Total Liabilities	`LiabilitiesNoncurrent`	$80.14K	USD	Point-in-time
Common stock, $0.001 par value, 75,000,000 shares authorized; 1,064,080 and 5,014,080 shares issued and outstanding respectively	`CommonStockSharesIssued`	1,064.00	shares	Point-in-time
Common stock, $0.001 par value, 75,000,000 shares authorized; 1,064,080 and 5,014,080 shares issued and outstanding respectively	`CommonStockSharesIssued`	5,014.00	shares	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$28.29K	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`	$-67.04K	USD	Point-in-time
Total Stockholder's Equity (Deficit)	`LiabilitiesAndStockholdersEquity`	$-49.61K	USD	Point-in-time
Total Stockholder's Equity (Deficit)	`LiabilitiesAndStockholdersEquity`	$-37.69K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY (DEFICIT)	`LiabilitiesCurrent`	$30.52K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY (DEFICIT)	`LiabilitiesCurrent`	$419.97K	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesCommissionsAndFees`	-	USD	Annual
Sales	`SalesCommissionsAndFees`	$717.45K	USD	Annual
TOTAL INCOME	`NoninterestIncome`	$717.45K	USD	Annual
TOTAL INCOME	`NoninterestIncome`	-	USD	Annual
COGS	`CostOfGoodsAndServicesSold`	-	USD	Annual
COGS	`CostOfGoodsAndServicesSold`	$461.12K	USD	Annual
GROSS PROFIT	`GrossProfit`	-	USD	Annual
GROSS PROFIT	`GrossProfit`	$256.33K	USD	Annual
Application Development Expense	`ResearchAndDevelopmentExpense`	$27.04K	USD	Annual
Application Development Expense	`ResearchAndDevelopmentExpense`	-	USD	Annual
Depreciation Expense	`DepreciationAndAmortization`	$39.10K	USD	Annual
Depreciation Expense	`DepreciationAndAmortization`	$4.80K	USD	Annual
General and Administrative Expenses	`GeneralAndAdministrativeExpense`	$38.99K	USD	Annual
General and Administrative Expenses	`GeneralAndAdministrativeExpense`	$229.35K	USD	Annual
Professional Fees	`ProfessionalFees`	$29.37K	USD	Annual
Professional Fees	`ProfessionalFees`	$33.02K	USD	Annual
Rent Expenses	`LeaseAndRentalExpense`	$1.42K	USD	Annual
Rent Expenses	`LeaseAndRentalExpense`	$1.06K	USD	Annual
TOTAL OPERATING EXPENSES	`OperatingExpenses`	$78.22K	USD	Annual
TOTAL OPERATING EXPENSES	`OperatingExpenses`	$325.93K	USD	Annual
NET LOSS FROM OPERATIONS	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-78.22K	USD	Annual
NET LOSS FROM OPERATIONS	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-69.59K	USD	Annual
PROVISION FOR INCOME TAXES	`CurrentStateAndLocalTaxExpenseBenefit`	-	USD	Annual
PROVISION FOR INCOME TAXES	`CurrentStateAndLocalTaxExpenseBenefit`	-	USD	Annual
NET LOSS	`ProfitLoss`	$-78.22K	USD	Annual
NET LOSS	`ProfitLoss`	$-69.59K	USD	Annual
NET LOSS PER SHARE: BASIC AND DILUTED	`EarningsPerShareBasicAndDiluted`	-	USD	Annual
NET LOSS PER SHARE: BASIC AND DILUTED	`EarningsPerShareBasicAndDiluted`	-	USD	Annual
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED	`WeightedAverageNumberOfDilutedSharesOutstanding`	1.02M	shares	Annual
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.64M	shares	Annual

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net Income	`OperatingIncomeLoss`	$-69.59K	USD	Annual
Net Income	`OperatingIncomeLoss`	$-78.22K	USD	Annual
Accumulated depreciation	`Depreciation`	$36.94K	USD	Annual
Accumulated depreciation	`Depreciation`	$4.80K	USD	Annual
Accounts Payable	`IncreaseDecreaseInAccountsPayable`	$191.30K	USD	Annual
Accounts Payable	`IncreaseDecreaseInAccountsPayable`	$6.00K	USD	Annual
Accounts Receivables	`IncreaseDecreaseInAccountsReceivable`	$-3.85K	USD	Annual
Accounts Receivables	`IncreaseDecreaseInAccountsReceivable`	-	USD	Annual
Accrued Liabilities	`IncreaseDecreaseInAccruedLiabilities`	-	USD	Annual
Accrued Liabilities	`IncreaseDecreaseInAccruedLiabilities`	$9.77K	USD	Annual
Deferred expenses	`RecognitionOfDeferredRevenue`	$-1.96K	USD	Annual
Deferred expenses	`RecognitionOfDeferredRevenue`	-	USD	Annual
VAT Receivables	`IncreaseDecreaseInIncomeTaxesReceivable`	$-4.06K	USD	Annual
VAT Receivables	`IncreaseDecreaseInIncomeTaxesReceivable`	-	USD	Annual
Loan Receivable	`ProceedsFromSaleOfLoansReceivable`	-	USD	Annual
Loan Receivable	`ProceedsFromSaleOfLoansReceivable`	$-80.98K	USD	Annual
Retainers from Customers	`IncreaseDecreaseInCustomerAdvances`	$6.00K	USD	Annual
Retainers from Customers	`IncreaseDecreaseInCustomerAdvances`	$-19.09K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$72.28K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-23.35K	USD	Annual
Prepaid rent	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$659.00	USD	Annual
Prepaid rent	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$61.00	USD	Annual
Purchase of goods for resale	`PaymentsToAcquireProjects`	$-114.00	USD	Annual
Purchase of goods for resale	`PaymentsToAcquireProjects`	-	USD	Annual
Retainer Asset	`AssetRetirementObligationCashPaidToSettle`	-	USD	Annual
Retainer Asset	`AssetRetirementObligationCashPaidToSettle`	$-55.00	USD	Annual
Net cash used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$130.72K	USD	Annual
Net cash used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-84.17K	USD	Annual
App development cost	`InterestCostsCapitalized`	$-97.40K	USD	Annual
App development cost	`InterestCostsCapitalized`	-	USD	Annual
RSS Database	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	-	USD	Annual
RSS Database	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-149.00K	USD	Annual
Business combination, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$28.80K	USD	Annual
Business combination, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	Annual
Furniture and Equipment	`PaymentsForProceedsFromProductiveAssets`	$1.31K	USD	Annual
Furniture and Equipment	`PaymentsForProceedsFromProductiveAssets`	$-1.50K	USD	Annual
Vehicles acquisition cost	`EquipmentExpense`	$-55.09K	USD	Annual
Vehicles acquisition cost	`EquipmentExpense`	-	USD	Annual
Website Development	`CostsIncurredDevelopmentCosts`	$-8.36K	USD	Annual
Website Development	`CostsIncurredDevelopmentCosts`	-	USD	Annual
Net cash provided by Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-271.37K	USD	Annual
Net cash provided by Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-9.86K	USD	Annual
Capital Stock	`ProceedsFromStockPlans`	$1.01K	USD	Annual
Capital Stock	`ProceedsFromStockPlans`	-	USD	Annual
Additional paid in capital	`PaymentsForCapitalImprovements`	-	USD	Annual
Additional paid in capital	`PaymentsForCapitalImprovements`	$24.34K	USD	Annual
Loan from Related Parties	`PaymentsToAcquireLoansReceivable`	$167.85K	USD	Annual
Loan from Related Parties	`PaymentsToAcquireLoansReceivable`	$63.09K	USD	Annual
Net cash provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$167.85K	USD	Annual
Net cash provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$88.44K	USD	Annual
Net cash increase for period	`CashPeriodIncreaseDecrease`	$27.20K	USD	Annual
Net cash increase for period	`CashPeriodIncreaseDecrease`	$-5.59K	USD	Annual
Cash at beginning of period	`CashCashEquivalentsAndShortTermInvestments`	$5.69K	USD	Point-in-time
Cash at beginning of period	`CashCashEquivalentsAndShortTermInvestments`	$102.00	USD	Point-in-time
Cash at end of period	`Cash`	$102.00	USD	Point-in-time
Cash at end of period	`Cash`	$27.30K	USD	Point-in-time
Right-of-use assets obtained in exchange for lease obligations	`CapitalLeaseObligationsIncurred`	-	USD	Annual
Right-of-use assets obtained in exchange for lease obligations	`CapitalLeaseObligationsIncurred`	$320.00	USD	Annual

Stockholders Equity 10 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-37.69K	USD	Point-in-time
Balance	`StockholdersEquity`	$-49.61K	USD	Point-in-time
Balance	`StockholdersEquity`	$3.26K	USD	Point-in-time
Shares issued for cash	`StockIssuedDuringPeriodSharesNewIssues`	25,352.00	shares	Annual
Net loss for the year	`NetIncomeLoss`	$-78.22K	USD	Annual
Net loss for the year	`NetIncomeLoss`	$-69.59K	USD	Annual
Retained earnings of Subsidiary	`SubsidiaryOrEquityMethodInvesteeCumulativeProceedsReceivedOnAllTransactions`	$81.52K	USD	Annual
Balance	`StockholdersEquity`	$-37.69K	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.