Mon, Aug 19, 8:54 PM (148 days ago)
Avant Technologies, Inc. (formerly Trend Innovations Holding Inc.) reported a net loss of $528,843 for Q1 2025, compared to a loss of $411,522 in Q1 2024. The company generated no revenue during both periods. Operating expenses increased to $517,294 from $411,522, largely due to higher consulting costs. As of June 30, 2024, total assets were $244,894, with current liabilities at $2,329,553, leading to a stockholders' deficit of $2,084,659. Cash flow from operations was negative at ($12,702), while financing activities provided $12,865. The company continues to face substantial doubt about its ability to continue as a going concern due to ongoing losses and reliance on future capital raises. Recent acquisitions, including Avant! AI and Wired4Health, aim to enhance technological capabilities but present integration challenges. The company is actively seeking additional capital, with plans to raise approximately $10 million to support growth and operational needs.