10-K Filing

AVANT TECHNOLOGIES INC. CIK: 1740797 FY 2020

Filing Information

Form Type	10-K
Accession Number	`0001740797-21-000014`
Period End Date	20210331
Filing Date	20210713
Fiscal Year	2020
Fiscal Period	FY
XBRL Instance	tren10kmarch312021_r1_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 90 Income Statement 36 Cash Flow Statement 61 Stockholders Equity 21

Balance Sheet 90 line items

Line Item	Tag	Value	Unit	Period
Preferred stock par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	5.00M	shares	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	5.00M	shares	Point-in-time
Common Stock par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock Authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Common Stock, issued	`CommonStockSharesIssued`	26.28M	shares	Point-in-time
Common Stock, issued	`CommonStockSharesIssued`	1.06M	shares	Point-in-time
Common Stock, outstanding	`CommonStockSharesOutstanding`	1.06M	shares	Point-in-time
Common Stock, outstanding	`CommonStockSharesOutstanding`	26.28M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$27.30K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$60.36K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$27.30K	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$9.24K	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$256.04K	USD	Point-in-time
Loan Receivable	`LoansAndLeasesReceivableNetReportedAmount`	$291.36K	USD	Point-in-time
Loan Receivable	`LoansAndLeasesReceivableNetReportedAmount`	$80.98K	USD	Point-in-time
Accounts Receivable	`AccountsReceivableNetCurrent`	$29.57K	USD	Point-in-time
Accounts Receivable	`AccountsReceivableNetCurrent`	$63.63K	USD	Point-in-time
Purchase of goods for resale	`PurchaseGoodsforresale`	$114.00	USD	Point-in-time
Purchase of goods for resale	`PurchaseGoodsforresale`	-	USD	Point-in-time
Retainer Asset	`DueFromRelatedPartiesCurrent`	-	USD	Point-in-time
Retainer Asset	`DueFromRelatedPartiesCurrent`	$55.00	USD	Point-in-time
Prepaid Taxes	`PrepaidTaxes`	$1.10K	USD	Point-in-time
Prepaid Taxes	`PrepaidTaxes`	$1.31K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$672.70K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$148.36K	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$5.55K	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$12.02K	USD	Point-in-time
Furniture and Equipment	`PropertyPlantAndEquipmentNet`	$1.50K	USD	Point-in-time
Furniture and Equipment	`PropertyPlantAndEquipmentNet`	$1.50K	USD	Point-in-time
Vehicles	`PublicUtilitiesPropertyPlantAndEquipmentVehicles`	$33.72K	USD	Point-in-time
Vehicles	`PublicUtilitiesPropertyPlantAndEquipmentVehicles`	$55.09K	USD	Point-in-time
Total Fixed Assets	`PropertyPlantAndEquipmentCollectionsNotCapitalized`	$51.03K	USD	Point-in-time
Total Fixed Assets	`PropertyPlantAndEquipmentCollectionsNotCapitalized`	$23.20K	USD	Point-in-time
Accumulated depreciation	`OtherIntangibleAssetsNet`	$83.93K	USD	Point-in-time
Accumulated depreciation	`OtherIntangibleAssetsNet`	$36.46K	USD	Point-in-time
App Development Cost	`AppDevelopmentCost`	$97.40K	USD	Point-in-time
App Development Cost	`AppDevelopmentCost`	$97.40K	USD	Point-in-time
RSS Database	`RSSDatabase`	$149.00K	USD	Point-in-time
RSS Database	`RSSDatabase`	$149.00K	USD	Point-in-time
Website Development	`WebsiteDevelopment`	$8.36K	USD	Point-in-time
Website Development	`WebsiteDevelopment`	$8.36K	USD	Point-in-time
Total Intangible Assets	`IntangibleAssetsCurrent`	$218.30K	USD	Point-in-time
Total Intangible Assets	`IntangibleAssetsCurrent`	$170.83K	USD	Point-in-time
Deferred expenses	`DeferredSetUpCostsNoncurrent`	$1.96K	USD	Point-in-time
Deferred expenses	`DeferredSetUpCostsNoncurrent`	$1.94K	USD	Point-in-time
Right-of-use asset Lease	`OperatingLeaseRightOfUseAsset`	-	USD	Point-in-time
Right-of-use asset Lease	`OperatingLeaseRightOfUseAsset`	$320.00	USD	Point-in-time
Total Other Assets	`DeferredCostsAndOtherAssets`	$2.27K	USD	Point-in-time
Total Other Assets	`DeferredCostsAndOtherAssets`	$1.94K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$868.68K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$419.97K	USD	Point-in-time
Accrued Liabilities	`AccruedLiabilitiesCurrent`	$13.55K	USD	Point-in-time
Accrued Liabilities	`AccruedLiabilitiesCurrent`	$1.17K	USD	Point-in-time
Accrued Payroll	`AccruedPayrollTaxesCurrent`	$72.55K	USD	Point-in-time
Accrued Payroll	`AccruedPayrollTaxesCurrent`	-	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$270.92K	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$50.82K	USD	Point-in-time
Loan from Related Parties (note 6)	`DueToRelatedPartiesCurrent`	$207.92K	USD	Point-in-time
Loan from Related Parties (note 6)	`DueToRelatedPartiesCurrent`	$241.23K	USD	Point-in-time
Convertible Notes Payable (note 7)	`ConvertibleNotesPayableCurrent`	-	USD	Point-in-time
Convertible Notes Payable (note 7)	`ConvertibleNotesPayableCurrent`	$60.00K	USD	Point-in-time
Loan Payable	`LoansPayableCurrent`	$6.92K	USD	Point-in-time
Loan Payable	`LoansPayableCurrent`	-	USD	Point-in-time
Notes payable - Related Party	`NotesPayableRelatedPartiesClassifiedCurrent`	$149.00K	USD	Point-in-time
Notes payable - Related Party	`NotesPayableRelatedPartiesClassifiedCurrent`	$149.00K	USD	Point-in-time
Retainers from Customers	`RetainersfromCustomers`	$2.75K	USD	Point-in-time
Retainers from Customers	`RetainersfromCustomers`	$375.20K	USD	Point-in-time
Lease Liabilities - Short-term	`OperatingLeaseLiabilityCurrent`	-	USD	Point-in-time
Lease Liabilities - Short-term	`OperatingLeaseLiabilityCurrent`	$320.00	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$457.66K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.14M	USD	Point-in-time
Total Liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$1.14M	USD	Point-in-time
Total Liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$457.66K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$28.29K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$293.00	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$9.53K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	-	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-67.04K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-315.06K	USD	Point-in-time
Total Stockholders Equity (Deficit)	`StockholdersEquity`	$-37.69K	USD	Point-in-time
Total Stockholders Equity (Deficit)	`StockholdersEquity`	$-37.69K	USD	Point-in-time
Total Stockholders Equity (Deficit)	`StockholdersEquity`	$-49.61K	USD	Point-in-time
Total Stockholders Equity (Deficit)	`StockholdersEquity`	$-275.00K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$868.68K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$419.97K	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Sales	`ProceedsFromCustomers`	$1.21M	USD	Annual
Sales	`ProceedsFromCustomers`	$717.45K	USD	Annual
TOTAL INCOME	`InterestIncomeExpenseNet`	$1.21M	USD	Annual
TOTAL INCOME	`InterestIncomeExpenseNet`	$717.45K	USD	Annual
COGS	`CostOfGoodsAndServicesSold`	$461.12K	USD	Annual
COGS	`CostOfGoodsAndServicesSold`	$1.23M	USD	Annual
GROSS PROFIT	`GrossProfit`	$16.54K	USD	Annual
GROSS PROFIT	`GrossProfit`	$-256.33K	USD	Annual
Application Development Expense	`CostsIncurredDevelopmentCosts`	$27.04K	USD	Annual
Application Development Expense	`CostsIncurredDevelopmentCosts`	-	USD	Annual
Depreciation Expense	`CostDepreciationAmortizationAndDepletion`	$39.10K	USD	Annual
Depreciation Expense	`CostDepreciationAmortizationAndDepletion`	$56.75K	USD	Annual
General and Administrative Expenses	`GeneralAndAdministrativeExpense`	$151.03K	USD	Annual
General and Administrative Expenses	`GeneralAndAdministrativeExpense`	$229.35K	USD	Annual
Professional Fees	`ProfessionalFees`	$29.37K	USD	Annual
Professional Fees	`ProfessionalFees`	$24.34K	USD	Annual
Rent Expenses	`LeaseAndRentalExpense`	$795.00	USD	Annual
Rent Expenses	`LeaseAndRentalExpense`	$1.06K	USD	Annual
TOTAL OPERATING EXPENSES	`OperatingExpenses`	$325.93K	USD	Annual
TOTAL OPERATING EXPENSES	`OperatingExpenses`	$232.92K	USD	Annual
OTHER (EXPENSES) INCOME	`OtherOperatingIncomeExpenseNet`	$1.43K	USD	Annual
OTHER (EXPENSES) INCOME	`OtherOperatingIncomeExpenseNet`	-	USD	Annual
NET INCOME (LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$69.59K	USD	Annual
NET INCOME (LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$248.02K	USD	Annual
PROVISION FOR INCOME TAXES	`FederalIncomeTaxExpenseBenefitContinuingOperations`	-	USD	Annual
PROVISION FOR INCOME TAXES	`FederalIncomeTaxExpenseBenefitContinuingOperations`	-	USD	Annual
NET INCOME (LOSS)	`IncomeLossFromContinuingOperations`	$69.59K	USD	Annual
NET INCOME (LOSS)	`IncomeLossFromContinuingOperations`	$248.02K	USD	Annual
Foreign currency translation adjustment	`GoodwillForeignCurrencyTranslationGainLoss`	$9.53K	USD	Annual
Foreign currency translation adjustment	`GoodwillForeignCurrencyTranslationGainLoss`	-	USD	Annual
COMPREHENSIVE INCOME (LOSS)	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$-238.49K	USD	Annual
COMPREHENSIVE INCOME (LOSS)	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	-	USD	Annual
NET LOSS PER SHARE: BASIC AND DILUTED	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	-	USD	Annual
NET LOSS PER SHARE: BASIC AND DILUTED	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	-	USD	Annual
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	26.28M	shares	Annual
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.02M	shares	Annual

Cash Flow Statement 61 line items

Line Item	Tag	Value	Unit	Period
Net Income	`NetInvestmentIncome`	$-69.59K	USD	Annual
Net Income	`NetInvestmentIncome`	$-248.02K	USD	Annual
Foreign currency translation adjustment	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	-	USD	Annual
Foreign currency translation adjustment	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$9.53K	USD	Annual
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentPeriodIncreaseDecrease`	$36.94K	USD	Annual
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentPeriodIncreaseDecrease`	$53.93K	USD	Annual
Accounts Payable	`IncreaseDecreaseInAccountsPayable`	$220.11K	USD	Annual
Accounts Payable	`IncreaseDecreaseInAccountsPayable`	$191.30K	USD	Annual
Accounts Receivables	`IncreaseDecreaseInAccountsReceivable`	$-34.05K	USD	Annual
Accounts Receivables	`IncreaseDecreaseInAccountsReceivable`	$-3.85K	USD	Annual
Accrued Liabilities	`IncreaseDecreaseInAccruedLiabilities`	$9.77K	USD	Annual
Accrued Liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-12.38K	USD	Annual
Accrued Payroll	`IncreaseDecreaseInAccruedSalaries`	-	USD	Annual
Accrued Payroll	`IncreaseDecreaseInAccruedSalaries`	$72.55K	USD	Annual
Deferred expenses	`IncreaseDecreaseInDeferredCharges`	$-1.96K	USD	Annual
Deferred expenses	`IncreaseDecreaseInDeferredCharges`	$17.00	USD	Annual
Net VAT Payable	`IncreaseDecreaseInAccruedTaxesPayable`	$-4.06K	USD	Annual
Net VAT Payable	`IncreaseDecreaseInAccruedTaxesPayable`	-	USD	Annual
Loan Receivable	`LoansAndLeasesReceivableRelatedPartiesPeriodIncreaseDecrease`	$-80.98K	USD	Annual
Loan Receivable	`LoansAndLeasesReceivableRelatedPartiesPeriodIncreaseDecrease`	$-210.39K	USD	Annual
Loan Payable	`IncreaseDecreaseInNotesPayableRelatedParties`	-	USD	Annual
Loan Payable	`IncreaseDecreaseInNotesPayableRelatedParties`	$6.92K	USD	Annual
Retainers from Customers	`ProceedsFromLoans`	$-19.09K	USD	Annual
Retainers from Customers	`ProceedsFromLoans`	$372.45K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-246.80K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$72.28K	USD	Annual
Prepaid taxes	`IncreaseDecreaseInPrepaidTaxes`	-	USD	Annual
Prepaid taxes	`IncreaseDecreaseInPrepaidTaxes`	$-210.00	USD	Annual
Prepaid rent	`IncreaseDecreaseInPrepaidRent`	$61.00	USD	Annual
Prepaid rent	`IncreaseDecreaseInPrepaidRent`	$55.00	USD	Annual
Purchase of goods for resale	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$114.00	USD	Annual
Purchase of goods for resale	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$-114.00	USD	Annual
Net cash used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-16.17K	USD	Annual
Net cash used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$130.72K	USD	Annual
App development cost	`AcquisitionCosts`	$-97.40K	USD	Annual
App development cost	`AcquisitionCosts`	-	USD	Annual
RSS Database	`CapitalizedComputerSoftwarePeriodIncreaseDecrease`	$-149.00K	USD	Annual
RSS Database	`CapitalizedComputerSoftwarePeriodIncreaseDecrease`	-	USD	Annual
Business combination, net of cash acquired	`BusinessCombinationAcquisitionRelatedCosts`	-	USD	Annual
Business combination, net of cash acquired	`BusinessCombinationAcquisitionRelatedCosts`	$28.80K	USD	Annual
Furniture and Equipment	`EquipmentExpense`	-	USD	Annual
Furniture and Equipment	`EquipmentExpense`	$1.31K	USD	Annual
Vehicles acquisition cost	`VehiclesAcquisitionCost`	$21.37K	USD	Annual
Vehicles acquisition cost	`VehiclesAcquisitionCost`	$-55.09K	USD	Annual
Net cash provided by Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-271.37K	USD	Annual
Net cash provided by Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$21.37K	USD	Annual
Additional paid in capital	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$1.17K	USD	Annual
Additional paid in capital	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	-	USD	Annual
Loan from Related Parties	`LoansAndLeasesReceivableRelatedPartiesProceeds`	$167.85K	USD	Annual
Loan from Related Parties	`LoansAndLeasesReceivableRelatedPartiesProceeds`	$26.69K	USD	Annual
Net cash provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$167.85K	USD	Annual
Net cash provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$27.86K	USD	Annual
Net cash increase for period	`CashPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$27.20K	USD	Annual
Net cash increase for period	`CashPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$33.06K	USD	Annual
Cash at beginning of period	`Cash`	$102.00	USD	Point-in-time
Cash at beginning of period	`Cash`	$27.30K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$27.30K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$60.36K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$27.30K	USD	Point-in-time
Right-of-use assets obtained in exchange for lease obligations	`InterestExpenseLesseeAssetsUnderCapitalLease`	$-320.00	USD	Annual
Right-of-use assets obtained in exchange for lease obligations	`InterestExpenseLesseeAssetsUnderCapitalLease`	$320.00	USD	Annual

Stockholders Equity 21 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$-37.69K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-37.69K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-49.61K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-275.00K	USD	Point-in-time
Beginning balance, shares	`CommonStockSharesOutstanding`	1.06M	shares	Point-in-time
Beginning balance, shares	`CommonStockSharesOutstanding`	26.28M	shares	Point-in-time
Common Shares issued	`StockIssuedDuringPeriodSharesNewIssues`	-	shares	Annual
Return of common stock	`StockholdersEquityOther`	-	USD	Annual
Net loss	`NetIncomeLoss`	$-248.02K	USD	Annual
Net loss	`NetIncomeLoss`	$-69.59K	USD	Annual
Retained earnings of Subsidiary	`ForeignEarningsRepatriated`	$81.52K	USD	Annual
Common Shares issued	`StockIssuedDuringPeriodSharesPeriodIncreaseDecrease`	-	shares	Annual
Preferred Shares issued	`AuctionMarketPreferredSecuritiesSharesIssued`	-	shares	Annual
Capital contribution	`Capitalcontribution`	$1.17K	USD	Annual
Foreign currency translation adjustment	`FiniteLivedIntangibleAssetsForeignCurrencyTranslationGainLoss`	$9.53K	USD	Annual
Ending balance, value	`StockholdersEquity`	$-37.69K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-37.69K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-49.61K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-275.00K	USD	Point-in-time
Ending balance, shares	`CommonStockSharesOutstanding`	1.06M	shares	Point-in-time
Ending balance, shares	`CommonStockSharesOutstanding`	26.28M	shares	Point-in-time

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