10-Q Filing

AVANT TECHNOLOGIES INC. CIK: 1740797 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001740797-22-000013`
Period End Date	20220630
Filing Date	20220819
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	tren10qjune302022_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 82 Income Statement 34 Cash Flow Statement 50 Stockholders Equity 22

Balance Sheet 82 line items

Line Item	Tag	Value	Unit	Period
Preferred Stock Value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred Stock Value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred Stock Authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred Stock Authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$33.29K	USD	Point-in-time
Preferred Stock Issued	`PreferredStockSharesIssued`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$22.46K	USD	Point-in-time
Preferred Stock Issued	`PreferredStockSharesIssued`	5.00M	shares	Point-in-time
Preferred Stock Outstanding	`PreferredStockSharesOutstanding`	5.00M	shares	Point-in-time
Preferred Stock Outstanding	`PreferredStockSharesOutstanding`	5.00M	shares	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$49.00K	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$126.16K	USD	Point-in-time
Common Stock Value per share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Loan Receivable	`LoansAndLeasesReceivableNetReportedAmount`	$167.56K	USD	Point-in-time
Common Stock Value per share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Loan Receivable	`LoansAndLeasesReceivableNetReportedAmount`	$158.07K	USD	Point-in-time
Accounts Receivable	`AccountsReceivableNetCurrent`	$13.83K	USD	Point-in-time
Accounts Receivable	`AccountsReceivableNetCurrent`	$3.77K	USD	Point-in-time
Common Stock Authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Common Stock Authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
CommonStock SharesIssued	`CommonStockSharesIssued`	26.32M	shares	Point-in-time
CommonStock SharesIssued	`CommonStockSharesIssued`	26.28M	shares	Point-in-time
Prepaid Rent	`PrepaidRent`	$104.00	USD	Point-in-time
Prepaid Rent	`PrepaidRent`	$98.00	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$330.87K	USD	Point-in-time
CommonStock SharesOutstanding	`CommonStockSharesOutstanding`	26.28M	shares	Point-in-time
CommonStock SharesOutstanding	`CommonStockSharesOutstanding`	26.28M	shares	Point-in-time
CommonStock SharesOutstanding	`CommonStockSharesOutstanding`	26.32M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$243.47K	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.15K	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.07K	USD	Point-in-time
Furniture and Equipment	`PropertyPlantAndEquipmentNet`	$1.50K	USD	Point-in-time
Furniture and Equipment	`PropertyPlantAndEquipmentNet`	$1.50K	USD	Point-in-time
Total Fixed Assets	`PropertyPlantAndEquipmentCollectionsNotCapitalized`	$425.00	USD	Point-in-time
Total Fixed Assets	`PropertyPlantAndEquipmentCollectionsNotCapitalized`	$350.00	USD	Point-in-time
Accumulated depreciation	`OtherIntangibleAssetsNet`	$143.26K	USD	Point-in-time
Accumulated depreciation	`OtherIntangibleAssetsNet`	$131.39K	USD	Point-in-time
App Development Cost	`DevelopmentCostsCumulative`	$126.85K	USD	Point-in-time
App Development Cost	`DevelopmentCostsCumulative`	$97.40K	USD	Point-in-time
Chatbot Development	`Chatbotdevelopment`	$4.06K	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`	$145.01K	USD	Point-in-time
Total Intangible Assets	`IntangibleAssetsCurrent`	$123.37K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$454.66K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$388.83K	USD	Point-in-time
Accrued Liabilities	`AccruedLiabilitiesCurrent`	$2.82K	USD	Point-in-time
Accrued Liabilities	`AccruedLiabilitiesCurrent`	$4.99K	USD	Point-in-time
Accrued Payroll	`AccruedPayrollTaxesCurrent`	$191.00K	USD	Point-in-time
Accrued Payroll	`AccruedPayrollTaxesCurrent`	$221.00K	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$70.85K	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$1.99K	USD	Point-in-time
Loan from Related Parties (note 6)	`DueToRelatedPartiesCurrent`	$154.94K	USD	Point-in-time
Loan from Related Parties (note 6)	`DueToRelatedPartiesCurrent`	$185.62K	USD	Point-in-time
Convertible Notes Payable (note 7)	`ConvertibleNotesPayableCurrent`	$169.50K	USD	Point-in-time
Convertible Notes Payable (note 7)	`ConvertibleNotesPayableCurrent`	$169.50K	USD	Point-in-time
Loan Payable	`LoansPayableCurrent`	$176.43K	USD	Point-in-time
Loan Payable	`LoansPayableCurrent`	$5.06K	USD	Point-in-time
Notes payable - Related Party	`NotesPayableRelatedPartiesClassifiedCurrent`	$72.84K	USD	Point-in-time
Notes payable - Related Party	`NotesPayableRelatedPartiesClassifiedCurrent`	$99.00K	USD	Point-in-time
Retainers from Customers	`RetainageDeposit`	$64.55K	USD	Point-in-time
Retainers from Customers	`RetainageDeposit`	$99.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$860.23K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$828.85K	USD	Point-in-time
Total Liabilities	`Liabilities`	$828.85K	USD	Point-in-time
Total Liabilities	`Liabilities`	$860.23K	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; 26,316,083 and 26,281,600 common shares issued and outstanding respectively	`CommonStockValue`	$26.32K	USD	Point-in-time
Common stock, $0.001 par value, 250,000,000 shares authorized; 26,316,083 and 26,281,600 common shares issued and outstanding respectively	`CommonStockValue`	$26.32K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$60.19K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$60.13K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$169.00	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$4.80K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$495.85K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$525.61K	USD	Point-in-time
Total Stockholders Equity (Deficit)	`ReceivableFromShareholdersOrAffiliatesForIssuanceOfCapitalStock`	$405.56K	USD	Point-in-time
Total Stockholders Equity (Deficit)	`ReceivableFromShareholdersOrAffiliatesForIssuanceOfCapitalStock`	$440.02K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$388.83K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$454.66K	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Sales	`ProceedsFromCustomers`	$758.01K	USD	1 Quarter
Sales	`ProceedsFromCustomers`	$127.36K	USD	1 Quarter
TOTAL INCOME	`InterestIncomeExpenseNet`	$127.36K	USD	1 Quarter
TOTAL INCOME	`InterestIncomeExpenseNet`	$758.01K	USD	1 Quarter
COGS	`CostOfGoodsAndServicesSold`	$215.11K	USD	1 Quarter
COGS	`CostOfGoodsAndServicesSold`	$102.87K	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$24.49K	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$542.90K	USD	1 Quarter
Depreciation Expense	`CostDepreciationAmortizationAndDepletion`	$11.94K	USD	1 Quarter
Depreciation Expense	`CostDepreciationAmortizationAndDepletion`	$14.07K	USD	1 Quarter
General and Administrative Expenses	`GeneralAndAdministrativeExpense`	$37.30K	USD	1 Quarter
General and Administrative Expenses	`GeneralAndAdministrativeExpense`	$104.03K	USD	1 Quarter
Professional Fees	`ProfessionalFees`	$8.57K	USD	1 Quarter
Professional Fees	`ProfessionalFees`	$28.20K	USD	1 Quarter
Rent Expenses	`LeaseAndRentalExpense`	$269.00	USD	1 Quarter
Rent Expenses	`LeaseAndRentalExpense`	$304.00	USD	1 Quarter
TOTAL OPERATING EXPENSES	`OperatingExpenses`	$146.57K	USD	1 Quarter
TOTAL OPERATING EXPENSES	`OperatingExpenses`	$58.12K	USD	1 Quarter
OTHER (EXPENSES) INCOME	`OtherOperatingIncomeExpenseNet`	$1.43K	USD	1 Quarter
OTHER (EXPENSES) INCOME	`OtherOperatingIncomeExpenseNet`	$3.87K	USD	1 Quarter
NET INCOME (LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$29.76K	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`	$29.76K	USD	1 Quarter
NET INCOME (LOSS)	`IncomeLossFromContinuingOperations`	$-396.33K	USD	1 Quarter
Foreign currency translation adjustment	`GoodwillForeignCurrencyTranslationGainLoss`	$4.63K	USD	1 Quarter
Foreign currency translation adjustment	`GoodwillForeignCurrencyTranslationGainLoss`	$1.67K	USD	1 Quarter
COMPREHENSIVE INCOME (LOSS)	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$34.39K	USD	1 Quarter
COMPREHENSIVE INCOME (LOSS)	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$-394.66K	USD	1 Quarter
NET LOSS PER SHARE: BASIC AND DILUTED	`EarningsPerShareBasic`	-	USD	1 Quarter
NET LOSS PER SHARE: BASIC AND DILUTED	`EarningsPerShareBasic`	-	USD	1 Quarter
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED	`WeightedAverageNumberOfSharesOutstandingBasic`	26.28M	shares	1 Quarter
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED	`WeightedAverageNumberOfSharesOutstandingBasic`	26.32M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net Income	`NetInvestmentIncome`	$29.76K	USD	1 Quarter
Net Income	`NetInvestmentIncome`	$-396.33K	USD	1 Quarter
Foreign currency translation adjustment	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$1.67K	USD	1 Quarter
Foreign currency translation adjustment	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$4.63K	USD	1 Quarter
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentPeriodIncreaseDecrease`	$14.21K	USD	1 Quarter
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentPeriodIncreaseDecrease`	$11.94K	USD	1 Quarter
Accounts Payable	`IncreaseDecreaseInAccountsPayable`	$-56.81K	USD	1 Quarter
Accounts Payable	`IncreaseDecreaseInAccountsPayable`	$68.86K	USD	1 Quarter
Accounts Receivables	`IncreaseDecreaseInAccountsReceivable`	$10.06K	USD	1 Quarter
Accounts Receivables	`IncreaseDecreaseInAccountsReceivable`	$168.32K	USD	1 Quarter
Accrued Liabilities	`IncreaseDecreaseInAccruedLiabilities`	$581.00	USD	1 Quarter
Accrued Liabilities	`IncreaseDecreaseInAccruedLiabilities`	$2.11K	USD	1 Quarter
Accrued Payroll	`IncreaseDecreaseInAccruedSalaries`	$33.49K	USD	1 Quarter
Accrued Payroll	`IncreaseDecreaseInAccruedSalaries`	$30.00K	USD	1 Quarter
Deferred Expenses	`IncreaseDecreaseInDeferredCharges`	$1.94K	USD	1 Quarter
Deferred Expenses	`IncreaseDecreaseInDeferredCharges`	-	USD	1 Quarter
Loan Receivable	`LoansAndLeasesReceivableRelatedPartiesPeriodIncreaseDecrease`	$9.49K	USD	1 Quarter
Loan Receivable	`LoansAndLeasesReceivableRelatedPartiesPeriodIncreaseDecrease`	$20.75K	USD	1 Quarter
Retainers from Customers	`Retainersfrom`	$332.19K	USD	1 Quarter
Retainers from Customers	`Retainersfrom`	$59.50K	USD	1 Quarter
Prepaid Expenses	`IncreaseDecreaseInPrepaidExpense`	$34.88K	USD	1 Quarter
Prepaid Expenses	`IncreaseDecreaseInPrepaidExpense`	$77.16K	USD	1 Quarter
Prepaid Taxes	`IncreaseDecreaseInPrepaidTaxes`	-	USD	1 Quarter
Prepaid Taxes	`IncreaseDecreaseInPrepaidTaxes`	$-16.00	USD	1 Quarter
Prepaid Rent	`IncreaseDecreaseInPrepaidRent`	$7.00	USD	1 Quarter
Prepaid Rent	`IncreaseDecreaseInPrepaidRent`	$107.00	USD	1 Quarter
Net cash used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$56.94K	USD	1 Quarter
Net cash used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-95.60K	USD	1 Quarter
Chatbot Development	`DevelopmentChatbot`	-	USD	1 Quarter
Chatbot Development	`DevelopmentChatbot`	$4.06K	USD	1 Quarter
Mobile App Update	`Mobileapp`	-	USD	1 Quarter
Mobile App Update	`Mobileapp`	$29.45K	USD	1 Quarter
Vehicles acquisition cost	`VehiclesAcquisition`	$419.00	USD	1 Quarter
Vehicles acquisition cost	`VehiclesAcquisition`	-	USD	1 Quarter
Net cash provided by Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$33.51K	USD	1 Quarter
Net cash provided by Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$419.00	USD	1 Quarter
Additional paid in capital	`AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt`	$15.00	USD	1 Quarter
Additional paid in capital	`AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt`	-	USD	1 Quarter
Loan from Related Parties	`LoansAndLeasesReceivableRelatedPartiesProceeds`	$30.68K	USD	1 Quarter
Loan from Related Parties	`LoansAndLeasesReceivableRelatedPartiesProceeds`	$15.88K	USD	1 Quarter
Loan Payable	`IncreaseDecreaseInNotesPayableRelatedParties`	$-86.00	USD	1 Quarter
Loan Payable	`IncreaseDecreaseInNotesPayableRelatedParties`	$103.59K	USD	1 Quarter
Net cash provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-15.98K	USD	1 Quarter
Net cash provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$72.91K	USD	1 Quarter
Net cash increase for period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-10.82K	USD	1 Quarter
Net cash increase for period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-41.37K	USD	1 Quarter
Cash at beginning of period	`Cash`	$60.36K	USD	Point-in-time
Cash at beginning of period	`Cash`	$33.29K	USD	Point-in-time
Cash at end of period	`CashEquivalentsAtCarryingValue`	$22.46K	USD	Point-in-time
Cash at end of period	`CashEquivalentsAtCarryingValue`	$18.99K	USD	Point-in-time

Stockholders Equity 22 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquityNoteSubscriptionsReceivable`	$67.26K	USD	Point-in-time
Beginning balance, value	`StockholdersEquityNoteSubscriptionsReceivable`	$-327.41K	USD	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	26.28M	shares	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	26.28M	shares	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	26.32M	shares	Point-in-time
Balance, value	`PreferredStockValueOutstanding`	$5.00M	USD	Point-in-time
Balance, value	`PreferredStockValueOutstanding`	$5.00M	USD	Point-in-time
Balance, value	`PreferredStockValueOutstanding`	$5.00M	USD	Point-in-time
Foreign currency translation adjustment	`FiniteLivedIntangibleAssetsTranslationAndPurchaseAccountingAdjustments`	$-4.69K	USD	1 Quarter
Foreign currency translation adjustment	`FiniteLivedIntangibleAssetsTranslationAndPurchaseAccountingAdjustments`	$-1.65K	USD	1 Quarter
Net income (loss) for the three-months period	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-29.76K	USD	1 Quarter
Net income (loss) for the three-months period	`NetIncomeLossAvailableToCommonStockholdersBasic`	$396.33K	USD	1 Quarter
Ending balance, value	`StockholdersEquityNoteSubscriptionsReceivable`	$67.26K	USD	Point-in-time
Ending balance, value	`StockholdersEquityNoteSubscriptionsReceivable`	$-327.41K	USD	Point-in-time
Balance, value	`CommonStockValueOutstanding`	$26.28M	USD	Point-in-time
Balance, value	`CommonStockValueOutstanding`	$26.32M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-440.02K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-405.56K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-440.02K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-405.56K	USD	Point-in-time
Balance, shares	`SharesIssued`	26.32M	shares	Point-in-time
Balance, shares	`SharesOutstanding`	5.00M	shares	Point-in-time

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