Avant Technologies Inc. reported a net loss of $1,142,115 for the fiscal year ending March 31, 2025, a significant reduction from the previous year's loss of $2,128,475. The company did not generate any revenue during both fiscal years. Total operating expenses decreased by 28% to $1,532,792, primarily due to lower general and administrative costs. The company’s cash position improved slightly, with cash on hand increasing to $81,053 from $281 in the prior year, although it still faced a working capital deficit of $1,695,484.
In terms of strategic developments, Avant Technologies made several acquisitions, including the purchase of Avant! AI and Instant Fame assets in April 2023. These acquisitions are intended to enhance the company's capabilities in artificial intelligence and technology consulting. Additionally, the company entered into a joint venture with Ainnova Tech Inc. to form Ai-Nova Acquisition Corp, which aims to develop AI solutions for healthcare applications. The company also underwent a name change from Trend Innovations Holding Inc. to Avant Technologies Inc. in July 2023, reflecting its strategic focus on AI technologies.
Operationally, Avant Technologies has seen a notable increase in its user base for its news application, which now offers access to 149,000 processed news sources, up from 99,000 in 2019. The company’s employee headcount remains limited, and it continues to rely on loans from related parties, totaling $512,075 as of March 31, 2025, to support its operations. The company has not yet established a stable source of revenue, which raises concerns about its ability to continue as a going concern.
Looking ahead, Avant Technologies acknowledges the need for additional capital to support its growth and operational needs, estimating that it will require approximately $10 million to fully implement its business plan. The company has expressed intentions to raise funds through equity or debt financing, although it faces challenges in securing favorable terms. Management has indicated that the continuation of operations is contingent upon successfully raising additional capital and achieving profitability, which remains uncertain given the current market conditions and the company's limited operating history.
About AVANT TECHNOLOGIES INC.
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