SEC Comment Letter 0000000000-25-000224 to AVAI BIO, INC. (AVAI)
AVAI BIO, INC.
Date: Jan. 8, 2025 · CIK: 0001740797 · Accession: 0000000000-25-000224
AI Filing Summary & Sentiment
File numbers found in text: 333-225433
Letter
January 8, 2025 Vitalis Racius Chief Financial Officer Avant Technologies c/o Eastbiz.com, Inc. 5348 Vegas Drive Las Vegas, NV 89108 Re:Avant Technologies Form 10-K for the Year Ended March 31, 2024 Form 10-Q for the Quarter Ended September 30, 2024 File No. 333-225433 Dear Vitalis Racius: We have limited our review of your filing to the financial statements and related disclosures and have the following comments. Please respond to this letter within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe a comment applies to your facts and circumstances, please tell us why in your response. After reviewing your response to this letter, we may have additional comments. Form 10-K for the Year Ended March 31, 2024 Report of Independent Registered Public Accounting Firm, page 24 1.We note the report of your independent registered public accounting firm refers to the financial position of the company as of March 31, 2024 and 2021. The report also refers to the results of the company's operations and cash flows for the fiscal year ended March 31, 2024 rather than referring to each of the years in the two-year period ended March 31, 2024. Please amend your Form 10-K and have your auditors reissue their report with references to the appropriate financial statements. Exhibits Please ensure that your amended Form 10-K includes Section 302 certifications signed by the principal executive and principal financial officers of the company. In this regard, Exhibit 31.1 was signed by Vitalis Racius as Chief Executive Officer, however, the Form 10-K and Exhibit 32.1 appear to identify William Hisey as the 2.
January 8, 2025 Page 2 Chief Executive Officer and Vitalis Racius as the Chief Financial Officer. In addition, the identification of the certifying individual at the beginning of the certification should be revised so as not to include the individual’s title. Refer to Item 601(b)(31) of Regulation S-K and Exchange Act Rule 13a-14(a). Form 10-Q for the Quarter Ended September 30, 2024 Exhibits 3.We note the certifications included in Exhibits 31.1 and 31.2 do not include paragraph 4(b) referring to the design of internal control over financial reporting. Please amend your Form 10-Q to include certifications containing the language precisely as set forth in Item 601(b)(31) of Regulation S-K. This comment also applies to the Form 10-Q filed for the quarterly period ended June 30, 2024. In closing, we remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff. Please contact Melissa Kindelan at 202-551-3564 or Kathleen Collins at 202-551- 3499 with any questions. Sincerely, Division of Corporation Finance Office of Technology
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January 8, 2025
Vitalis Racius
Chief Financial Officer
Avant Technologies
c/o Eastbiz.com, Inc.
5348 Vegas Drive
Las Vegas, NV 89108
Re:Avant Technologies
Form 10-K for the Year Ended March 31, 2024
Form 10-Q for the Quarter Ended September 30, 2024
File No. 333-225433
Dear Vitalis Racius:
We have limited our review of your filing to the financial statements and related
disclosures and have the following comments.
Please respond to this letter within ten business days by providing the requested
information or advise us as soon as possible when you will respond. If you do not believe a
comment applies to your facts and circumstances, please tell us why in your response.
After reviewing your response to this letter, we may have additional comments.
Form 10-K for the Year Ended March 31, 2024
Report of Independent Registered Public Accounting Firm, page 24
1.We note the report of your independent registered public accounting firm refers to the
financial position of the company as of March 31, 2024 and 2021. The report also
refers to the results of the company's operations and cash flows for the fiscal year
ended March 31, 2024 rather than referring to each of the years in the two-year period
ended March 31, 2024. Please amend your Form 10-K and have your auditors reissue
their report with references to the appropriate financial statements.
Exhibits
Please ensure that your amended Form 10-K includes Section 302 certifications
signed by the principal executive and principal financial officers of the company. In
this regard, Exhibit 31.1 was signed by Vitalis Racius as Chief Executive Officer,
however, the Form 10-K and Exhibit 32.1 appear to identify William Hisey as the 2.
January 8, 2025
Page 2
Chief Executive Officer and Vitalis Racius as the Chief Financial Officer. In
addition, the identification of the certifying individual at the beginning of the
certification should be revised so as not to include the individual’s title. Refer to Item
601(b)(31) of Regulation S-K and Exchange Act Rule 13a-14(a).
Form 10-Q for the Quarter Ended September 30, 2024
Exhibits
3.We note the certifications included in Exhibits 31.1 and 31.2 do not include paragraph
4(b) referring to the design of internal control over financial reporting. Please amend
your Form 10-Q to include certifications containing the language precisely as set forth
in Item 601(b)(31) of Regulation S-K. This comment also applies to the Form 10-Q
filed for the quarterly period ended June 30, 2024.
In closing, we remind you that the company and its management are responsible for
the accuracy and adequacy of their disclosures, notwithstanding any review, comments,
action or absence of action by the staff.
Please contact Melissa Kindelan at 202-551-3564 or Kathleen Collins at 202-551-
3499 with any questions.
Sincerely,
Division of Corporation Finance
Office of Technology