Avai Bio, Inc. (formerly Avant Technologies Inc.) reported a net loss of $1.75 million for the fiscal year ending March 31, 2026, an increase of 53% compared to a net loss of $1.14 million in the previous year. The company did not generate any revenue during both fiscal years. Total operating expenses decreased slightly to $1.48 million from $1.53 million, primarily due to reduced consulting services and amortization costs. However, other expenses surged to $269,318, largely driven by increased interest on convertible notes and related party loans.
The company has undergone significant changes, including a name change to Avai Bio, Inc. effective February 11, 2026, and the acquisition of key assets such as Avant! AI and Instant Fame. These acquisitions are intended to enhance the company's capabilities in artificial intelligence and technology consulting. Additionally, Avai Bio entered into joint ventures with Ainnova Tech Inc. and SGAustria Pte. Ltd. to develop healthcare technologies and cell-based products, respectively. The company also increased its authorized shares from 255 million to 520 million, allowing for greater flexibility in capital raising.
As of March 31, 2026, Avai Bio reported total assets of $572,696, a significant increase from $224,745 in the previous year, primarily due to the acquisition of intangible assets. However, the company also reported a working capital deficit of $3.30 million, up from $1.70 million in the prior year. The stockholders' deficit increased to $2.82 million, reflecting ongoing financial challenges. The company had cash reserves of $23,145, down from $81,053, indicating liquidity concerns.
Looking ahead, Avai Bio anticipates the need for additional capital to support its operations and growth initiatives. The company plans to raise approximately $10 million to fund its business strategy, which includes further development of its AI technologies and potential acquisitions. However, there is substantial doubt about the company's ability to continue as a going concern, as it has not yet established a stable revenue source to cover its operating costs. The management's ability to secure financing will be critical for the company's future viability.
About AVANT TECHNOLOGIES INC.
Avant Technologies Inc. specializes in developing and acquiring advanced artificial intelligence (AI) technologies and providing IT consulting services. Its core offerings include AI-driven software solutions featuring unsupervised and supervised learning models that enhance data analysis and reasoning. Serving businesses seeking innovative AI applications, Avant leverages proprietary technology and full-stack development capabilities to deliver scalable, data-efficient systems. The company operates primarily in technology and AI sectors, targeting enterprise clients through software and consulting services.
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