10-Q Filing

AVANT TECHNOLOGIES INC. CIK: 1740797 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001740797-21-000023`
Period End Date	20210630
Filing Date	20210823
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	tren10qjune2021_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 89 Income Statement 34 Cash Flow Statement 50 Stockholders Equity 14

Balance Sheet 89 line items

Line Item	Tag	Value	Unit	Period
Preferred Stock Par Or Stated Value Per Share	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred Stock Par Or Stated Value Per Share	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred Stock Shares Authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred Stock Shares Authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred Stock Shares Outstanding	`PreferredStockSharesOutstanding`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$60.36K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.99K	USD	Point-in-time
Preferred Stock Shares Outstanding	`PreferredStockSharesOutstanding`	5.00M	shares	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$168.75K	USD	Point-in-time
Preferred Stock Shares Issued	`PreferredStockSharesIssued`	5.00M	shares	Point-in-time
Preferred Stock Shares Issued	`PreferredStockSharesIssued`	5.00M	shares	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$203.63K	USD	Point-in-time
Common Stock Par Or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Loan Receivable	`LoansAndLeasesReceivableNetReportedAmount`	$291.36K	USD	Point-in-time
Loan Receivable	`LoansAndLeasesReceivableNetReportedAmount`	$270.61K	USD	Point-in-time
Common Stock Par Or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts Receivable	`AccountsReceivableNetCurrent`	$231.95K	USD	Point-in-time
Common Stock Shares Authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Accounts Receivable	`AccountsReceivableNetCurrent`	$63.63K	USD	Point-in-time
Common Stock Shares Authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Prepaid Rent	`PrepaidRent`	$107.00	USD	Point-in-time
Common Stock Shares Outstanding	`CommonStockSharesOutstanding`	26.28M	shares	Point-in-time
Common Stock Shares Outstanding	`CommonStockSharesOutstanding`	26.28M	shares	Point-in-time
Prepaid Rent	`PrepaidRent`	-	USD	Point-in-time
Common Stock Shares Issued	`CommonStockSharesIssued`	26.28M	shares	Point-in-time
Common Stock Shares Issued	`CommonStockSharesIssued`	26.28M	shares	Point-in-time
Prepaid Taxes	`PrepaidTaxes`	$1.32K	USD	Point-in-time
Prepaid Taxes	`PrepaidTaxes`	$1.31K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$620.29K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$691.74K	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$14.36K	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`	$34.14K	USD	Point-in-time
Total Fixed Assets	`PropertyPlantAndEquipmentCollectionsNotCapitalized`	$23.20K	USD	Point-in-time
Total Fixed Assets	`PropertyPlantAndEquipmentCollectionsNotCapitalized`	$21.28K	USD	Point-in-time
Accumulated depreciation	`OtherIntangibleAssetsNet`	$83.93K	USD	Point-in-time
Accumulated depreciation	`OtherIntangibleAssetsNet`	$95.79K	USD	Point-in-time
App Development Cost	`DevelopmentCostsCumulative`	$97.40K	USD	Point-in-time
App Development Cost	`DevelopmentCostsCumulative`	$97.40K	USD	Point-in-time
RSS Database	`FiniteLivedIntangibleAssetsGross`	$149.00K	USD	Point-in-time
RSS Database	`FiniteLivedIntangibleAssetsGross`	$149.00K	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	`IntangibleAssetsCurrent`	$170.83K	USD	Point-in-time
Total Intangible Assets	`IntangibleAssetsCurrent`	$158.97K	USD	Point-in-time
Deferred expenses	`DeferredSetUpCostsNoncurrent`	-	USD	Point-in-time
Deferred expenses	`DeferredSetUpCostsNoncurrent`	$1.94K	USD	Point-in-time
Total Other Assets	`DeferredCostsAndOtherAssets`	-	USD	Point-in-time
Total Other Assets	`DeferredCostsAndOtherAssets`	$1.94K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$816.27K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$871.98K	USD	Point-in-time
Accrued Liabilities	`AccruedLiabilitiesCurrent`	$1.75K	USD	Point-in-time
Accrued Liabilities	`AccruedLiabilitiesCurrent`	$1.17K	USD	Point-in-time
Accrued Payroll	`AccruedPayrollTaxesCurrent`	$106.04K	USD	Point-in-time
Accrued Payroll	`AccruedPayrollTaxesCurrent`	$72.55K	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$214.11K	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$270.92K	USD	Point-in-time
Loan from Related Parties (note 6)	`DueToRelatedPartiesCurrent`	$207.92K	USD	Point-in-time
Loan from Related Parties (note 6)	`DueToRelatedPartiesCurrent`	$148.80K	USD	Point-in-time
Convertible Notes Payable (note 7)	`ConvertibleNotesPayableCurrent`	$185.00K	USD	Point-in-time
Convertible Notes Payable (note 7)	`ConvertibleNotesPayableCurrent`	$60.00K	USD	Point-in-time
Loan Payable	`LoansPayableCurrent`	$7.01K	USD	Point-in-time
Loan Payable	`LoansPayableCurrent`	$6.92K	USD	Point-in-time
Notes payable - Related Party	`NotesPayableRelatedPartiesClassifiedCurrent`	$99.00K	USD	Point-in-time
Notes payable - Related Party	`NotesPayableRelatedPartiesClassifiedCurrent`	$149.00K	USD	Point-in-time
Retainers from Customers	`RetainageDeposit`	$375.20K	USD	Point-in-time
Retainers from Customers	`RetainageDeposit`	$43.01K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$804.72K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.14M	USD	Point-in-time
Total Liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$804.72K	USD	Point-in-time
Total Liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$1.14M	USD	Point-in-time
Preferred stock, $0.001 par value, 5,000,000 shares authorized; 5,000,000 and 5,000,000 common shares issued and outstanding respectively	`PreferredStockValue`	$3.95K	USD	Point-in-time
Preferred stock, $0.001 par value, 5,000,000 shares authorized; 5,000,000 and 5,000,000 common shares issued and outstanding respectively	`PreferredStockValue`	$3.95K	USD	Point-in-time
Common stock, $0.001 par value, 250,000,000 shares authorized; 26,281,600 and 26,281,600 common shares issued and outstanding respectively	`CommonStockValue`	$26.28K	USD	Point-in-time
Common stock, $0.001 par value, 250,000,000 shares authorized; 26,281,600 and 26,281,600 common shares issued and outstanding respectively	`CommonStockValue`	$26.28K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$308.00	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$293.00	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$11.39K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$9.72K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$27.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-369.33K	USD	Point-in-time
Total Stockholders Equity (Deficit)	`StockholdersEquity`	$67.26K	USD	Point-in-time
Total Stockholders Equity (Deficit)	`StockholdersEquity`	$-327.41K	USD	Point-in-time
Total Stockholders Equity (Deficit)	`StockholdersEquity`	$-37.69K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$871.98K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$816.27K	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Sales	`ProceedsFromCustomers`	$299.21K	USD	1 Quarter
Sales	`ProceedsFromCustomers`	$758.01K	USD	1 Quarter
TOTAL INCOME	`InterestIncomeExpenseNet`	$299.21K	USD	1 Quarter
TOTAL INCOME	`InterestIncomeExpenseNet`	$758.01K	USD	1 Quarter
COGS	`CostOfGoodsAndServicesSold`	$214.58K	USD	1 Quarter
COGS	`CostOfGoodsAndServicesSold`	$215.11K	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$542.90K	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$84.63K	USD	1 Quarter
Depreciation Expense	`CostDepreciationAmortizationAndDepletion`	$14.07K	USD	1 Quarter
Depreciation Expense	`CostDepreciationAmortizationAndDepletion`	$14.46K	USD	1 Quarter
General and Administrative Expenses	`GeneralAndAdministrativeExpense`	$104.03K	USD	1 Quarter
General and Administrative Expenses	`GeneralAndAdministrativeExpense`	$19.54K	USD	1 Quarter
Professional Fees	`ProfessionalFees`	$1.72K	USD	1 Quarter
Professional Fees	`ProfessionalFees`	$28.20K	USD	1 Quarter
Rent Expenses	`LeaseAndRentalExpense`	$237.00	USD	1 Quarter
Rent Expenses	`LeaseAndRentalExpense`	$269.00	USD	1 Quarter
TOTAL OPERATING EXPENSES	`OperatingExpenses`	$146.57K	USD	1 Quarter
TOTAL OPERATING EXPENSES	`OperatingExpenses`	$35.95K	USD	1 Quarter
OTHER (EXPENSES) INCOME	`OtherOperatingIncomeExpenseNet`	-	USD	1 Quarter
OTHER (EXPENSES) INCOME	`OtherOperatingIncomeExpenseNet`	-	USD	1 Quarter
NET INCOME (LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$48.68K	USD	1 Quarter
NET INCOME (LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$396.33K	USD	1 Quarter
PROVISION FOR INCOME TAXES	`FederalIncomeTaxExpenseBenefitContinuingOperations`	-	USD	1 Quarter
PROVISION FOR INCOME TAXES	`FederalIncomeTaxExpenseBenefitContinuingOperations`	-	USD	1 Quarter
NET INCOME (LOSS)	`IncomeLossFromContinuingOperations`	$48.68K	USD	1 Quarter
NET INCOME (LOSS)	`IncomeLossFromContinuingOperations`	$396.33K	USD	1 Quarter
Foreign currency translation adjustment	`GoodwillForeignCurrencyTranslationGainLoss`	$-2.40K	USD	1 Quarter
Foreign currency translation adjustment	`GoodwillForeignCurrencyTranslationGainLoss`	$1.67K	USD	1 Quarter
COMPREHENSIVE INCOME (LOSS)	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$394.66K	USD	1 Quarter
COMPREHENSIVE INCOME (LOSS)	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$51.08K	USD	1 Quarter
NET LOSS PER SHARE: BASIC AND DILUTED	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	-	USD	1 Quarter
NET LOSS PER SHARE: BASIC AND DILUTED	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	-	USD	1 Quarter
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	26.28M	shares	1 Quarter
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	26.28M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net Income	`NetInvestmentIncome`	$48.68K	USD	1 Quarter
Net Income	`NetInvestmentIncome`	$396.33K	USD	1 Quarter
Foreign currency translation adjustment	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-2.40K	USD	1 Quarter
Foreign currency translation adjustment	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$1.67K	USD	1 Quarter
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentPeriodIncreaseDecrease`	$14.21K	USD	1 Quarter
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentPeriodIncreaseDecrease`	$11.57K	USD	1 Quarter
Accounts Payable	`IncreaseDecreaseInAccountsPayable`	$-56.81K	USD	1 Quarter
Accounts Payable	`IncreaseDecreaseInAccountsPayable`	$12.20K	USD	1 Quarter
Accounts Receivables	`IncreaseDecreaseInAccountsReceivable`	$-168.32K	USD	1 Quarter
Accounts Receivables	`IncreaseDecreaseInAccountsReceivable`	$-64.07K	USD	1 Quarter
Accrued Liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-420.00	USD	1 Quarter
Accrued Liabilities	`IncreaseDecreaseInAccruedLiabilities`	$581.00	USD	1 Quarter
Accrued Payroll	`IncreaseDecreaseInAccruedSalaries`	$33.49K	USD	1 Quarter
Accrued Payroll	`IncreaseDecreaseInAccruedSalaries`	-	USD	1 Quarter
Deferred expenses	`IncreaseDecreaseInDeferredCharges`	$1.94K	USD	1 Quarter
Deferred expenses	`IncreaseDecreaseInDeferredCharges`	$101.00	USD	1 Quarter
Net VAT Payable	`IncreaseDecreaseInAccruedTaxesPayable`	$-15.72K	USD	1 Quarter
Net VAT Payable	`IncreaseDecreaseInAccruedTaxesPayable`	-	USD	1 Quarter
Loan Receivable	`LoansAndLeasesReceivableRelatedPartiesPeriodIncreaseDecrease`	$-745.00	USD	1 Quarter
Loan Receivable	`LoansAndLeasesReceivableRelatedPartiesPeriodIncreaseDecrease`	$20.75K	USD	1 Quarter
Loan Payable	`IncreaseDecreaseInNotesPayableRelatedParties`	-	USD	1 Quarter
Loan Payable	`IncreaseDecreaseInNotesPayableRelatedParties`	$86.00	USD	1 Quarter
Retainers from Customers	`Retainersfrom`	$-332.19K	USD	1 Quarter
Retainers from Customers	`Retainersfrom`	$32.68K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-50.45K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$34.88K	USD	1 Quarter
Prepaid taxes	`IncreaseDecreaseInPrepaidTaxes`	-	USD	1 Quarter
Prepaid taxes	`IncreaseDecreaseInPrepaidTaxes`	$-16.00	USD	1 Quarter
Prepaid rent	`IncreaseDecreaseInPrepaidRent`	$-1.00	USD	1 Quarter
Prepaid rent	`IncreaseDecreaseInPrepaidRent`	$-107.00	USD	1 Quarter
Purchase of goods for resale	`PaymentsForProceedsFromProductiveAssets`	-	USD	1 Quarter
Purchase of goods for resale	`PaymentsForProceedsFromProductiveAssets`	$-220.00	USD	1 Quarter
Net cash used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-24.00K	USD	1 Quarter
Net cash used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-56.85K	USD	1 Quarter
Vehicles acquisition cost	`VehiclesAcquisition`	$-419.00	USD	1 Quarter
Vehicles acquisition cost	`VehiclesAcquisition`	$22.82K	USD	1 Quarter
Net cash provided by Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-419.00	USD	1 Quarter
Net cash provided by Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$22.82K	USD	1 Quarter
Additional paid in capital	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$15.00	USD	1 Quarter
Additional paid in capital	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	-	USD	1 Quarter
Loan from Related Parties	`LoansAndLeasesReceivableRelatedPartiesProceeds`	$-15.88K	USD	1 Quarter
Loan from Related Parties	`LoansAndLeasesReceivableRelatedPartiesProceeds`	$13.30K	USD	1 Quarter
Net cash provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-13.30K	USD	1 Quarter
Net cash provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$15.90K	USD	1 Quarter
Net cash increase for period	`CashPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-14.48K	USD	1 Quarter
Net cash increase for period	`CashPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-41.37K	USD	1 Quarter
Cash at beginning of period	`Cash`	$27.30K	USD	Point-in-time
Cash at beginning of period	`Cash`	$60.36K	USD	Point-in-time
Cash at end of period	`CashEquivalentsAtCarryingValue`	$18.99K	USD	Point-in-time
Cash at end of period	`CashEquivalentsAtCarryingValue`	$12.82K	USD	Point-in-time

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$67.26K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-327.41K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-37.69K	USD	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	26.28M	shares	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	26.28M	shares	Point-in-time
Common Shares issued	`StockIssuedDuringPeriodSharesNewIssues`	-	shares	1 Quarter
Foreign currency translation adjustment	`FiniteLivedIntangibleAssetsTranslationAndPurchaseAccountingAdjustments`	$2.40K	USD	1 Quarter
Net income loss for the three-months period	`NetIncomeLoss`	$48.68K	USD	1 Quarter
Net income loss for the three-months period	`NetIncomeLoss`	$396.33K	USD	1 Quarter
Ending balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$13.39K	USD	Point-in-time
Foreign currency translation adjustment	`FiniteLivedIntangibleAssetsForeignCurrencyTranslationGainLoss`	$-1.65K	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$67.26K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-327.41K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-37.69K	USD	Point-in-time

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