Get Started for Free Contexxia identifies hard-to-find pieces of information in SEC filings. No more highlighters, no more redlining, no more poring over huge documents. Avante Systems, Inc. (1504388) 10-K published on Feb 13, 2015 at 11:58 am
We anticipate our operating expenses will increase as we undertake our plan of operations. The increase will be attributable to undertaking the development of our 3D business operations and the professional fees associating with being a reporting company under the Securities Exchange Act of 1934.
We have audited the accompanying consolidated balance sheet of Avante Systems, Inc. as of October 31, 2014 and the related consolidated statements of operations, stockholders’ equity, and cash flows for the year ended October 31, 2014 Avante Systems, Inc.’s management is responsible for these consolidated financial statements. Our responsibility is to express an opinion on these financial statements based on our audits.
The accompanying consolidated financial statements have been prepared assuming that the entity will continue as a going concern. As discussed in Note 8 to the financial statements, the entity has suffered recurring losses from operations and has a net capital deficiency that raises substantial doubt about its ability to continue as a going concern. Management's plans in regard to these matters are also described in Note 8. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.
Prepaid expenses at October 31, 2014 and 2013 consisted of an advance paid to the Company’s attorney for services to be rendered for periods after the Company’s year-end in the amount of $7,752 and $17,722, respectively, and expense advances in the amount of $495 and $0, respectively, to an officer of the Company.
On August 4, 2014, Silberstein Ungar, PLLC notified us that its principals joined the accounting firm of KLJ & Associates, LLP. As a result of the transaction, on August 4, 2014, Silberstein Ungar, PLLC resigned as our independent registered public accounting firm and we engaged KLJ & Associates, LLP as our independent registered public accounting firm.