0001255294-13-000687.txt : 20130829 0001255294-13-000687.hdr.sgml : 20130829 20130829125438 ACCESSION NUMBER: 0001255294-13-000687 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 10 CONFORMED PERIOD OF REPORT: 20130731 FILED AS OF DATE: 20130829 DATE AS OF CHANGE: 20130829 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Avante Systems, Inc. CENTRAL INDEX KEY: 0001504388 STANDARD INDUSTRIAL CLASSIFICATION: HOUSEHOLD AUDIO & VIDEO EQUIPMENT [3651] IRS NUMBER: 000000000 STATE OF INCORPORATION: NV FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 333-171305 FILM NUMBER: 131068276 BUSINESS ADDRESS: STREET 1: ROOM 709-710, 7/F TOWER 1 STREET 2: SILVERCORD CENTRE CITY: TSIM SHA TSUI, KOWLOON STATE: K3 ZIP: XXXXX BUSINESS PHONE: 852 31113951 MAIL ADDRESS: STREET 1: ROOM 709-710, 7/F TOWER 1 STREET 2: SILVERCORD CENTRE CITY: TSIM SHA TSUI, KOWLOON STATE: K3 ZIP: XXXXX 10-Q 1 mainbody.htm MAINBODY

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

FORM 10-Q

 

[X] Quarterly Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
   
  For the quarterly period ended July 31, 2013
   
[  ] Transition Report pursuant to 13 or 15(d) of the Securities Exchange Act of 1934
   
  For the transition period from to __________
   
  Commission File Number: 333-171305

 

Avante Systems, Inc.

(Exact name of registrant as specified in its charter)

 

Nevada 99-0362655
(State or other jurisdiction of incorporation or organization) (IRS Employer Identification No.)

 

 

Room 709-710, 7/F Tower 1,

Silvercord Centre, Tsim Sha Tsui, Kowloon,

Hong Kong

(Address of principal executive offices)

 

852-3111-3951
(Registrant’s telephone number)
 
_______________________________________________________________
(Former name, former address and former fiscal year, if changed since last report)

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days [ ] Yes [X] No

 

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). [ ] Yes [X] No

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.

 

[ ] Large accelerated filer Accelerated filer [ ] Non-accelerated filer
[X] Smaller reporting company  

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). [X] Yes [ ] No

 

State the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date: 2,350,000 common shares as of August 27, 2013.

 

  TABLE OF CONTENTS

 

Page

PART I – FINANCIAL INFORMATION
     
Item 1: Financial Statements  3
Item 2: Management’s Discussion and Analysis of Financial Condition and Results of Operations  4
Item 3: Quantitative and Qualitative Disclosures About Market Risk  5
Item 4: Controls and Procedures  6
 
PART II – OTHER INFORMATION
 
Item 1: Legal Proceedings  7
Item 2: Unregistered Sales of Equity Securities and Use of Proceeds  7
Item 3: Defaults Upon Senior Securities  7
Item 4: Mine Safety Disclosure  7
Item 5: Other Information  7
Item 6: Exhibits  7

 

2

 

PART I - FINANCIAL INFORMATION

 

Item 1. Financial Statements

 

Our financial statements included in this Form 10-Q are as follows:

 

F-1 Balance Sheets as of July 31, 2013 and October 31, 2012 (unaudited)
F-2 Statements of Operations for the three and nine months ended July 31, 2013 and 2012 and period from August 12, 2010 (Inception) to July 31, 2013 (unaudited)
F-3 Statements of Cash Flows for the nine months ended July 31, 2013 and 2012 and period from August 12, 2010 (Inception) to July 31, 2013 (unaudited)
F-4 Notes to Financial Statements

 

These financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and the SEC instructions to Form 10-Q. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. Operating results for the interim period ended July 31, 2013 are not necessarily indicative of the results that can be expected for the full year.

3

 

AVANTE SYSTEMS, INC.

(A DEVELOPMENT STAGE COMPANY)

BALANCE SHEETS (unaudited)

AS OF JULY 31, 2013 AND OCTOBER 31, 2012

 

   July 31, 2013  October 31, 2012
ASSETS          
Current Assets          
Cash and equivalents  $47,854   $0 
Prepaid expenses   506    675 
TOTAL ASSETS  $48,360   $675 
           
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)          
           
Current Liabilities          
Accrued expenses  $9,900   $4,450 
Due to officer   0    16,900 
Total Liabilities   9,900    21,350 
           
Stockholders’ Equity (Deficit)          
Common Stock, $.001 par value, 100,000,000 shares authorized, 2,350,000 shares issued and outstanding (2012-2,625,000 shares issued and outstanding   2,350    2,625 
Preferred Stock, $.001 par value, 10,000,000 shares authorized, -0- shares issued and outstanding   0    0 
Additional paid-in capital   120,800    49,875 
Deficit accumulated during the development stage   (84,690)   (73,175)
Total stockholders’ equity (deficit)   38,460    (20,675)
           
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)  $48,360   $675 

 

See accompanying notes to financial statements.

F-1

AVANTE SYSTEMS, INC.

(A DEVELOPMENT STAGE COMPANY)

STATEMENTS OF OPERATIONS (unaudited)

FOR THE THREE MONTHS AND NINE MONTHS ENDED JULY 31, 2013 AND 2012

FOR THE PERIOD FROM AUGUST 12, 2010 (INCEPTION) TO JULY 31, 2013

 

   Three months ended
July 31, 2013
  Three months ended
July 31, 2012
  Nine months ended
July 31, 2013
  Nine months ended
July 31, 2012
  Period from
August 12, 2010 (Inception) to
July 31, 2013
                
REVENUES  $0   $0   $0   $0   $0 
                          
OPERATING EXPENSES                         
Organization costs   0    0    0    0    320 
Bank charges   46    0    46    0    66 
Professional fees   2,100    2,000    11,469    6,000    84,304 
TOTAL OPERATING EXPENSES   2,146    2,000    11,515    6,000    84,690 
                          
LOSS FROM OPERATIONS   (2,146)   (2,000)   (11,515)   (6,000)   (84,690)
                          
PROVISION FOR INCOME TAXES   0    0    0    0    0 
                          
NET LOSS  $(2,146)  $(2,000)  $(11,515)  $(6,000)  $(84,690)
                          
NET LOSS PER SHARE: BASIC AND DILUTED  $(0.00)  $(0.00)  $(0.00)  $(0.00)     
                          
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED   2,350,000    2,625,000    2,502,777    2,625,000      

 

See accompanying notes to financial statements.

 

F-2

 

AVANTE SYSTEMS, INC.

(A DEVELOPMENT STAGE COMPANY)

STATEMENTS OF CASH FLOWS (unaudited)

FOR THE NINE MONTHS ENDED JULY 31, 2013 AND 2012

FOR THE PERIOD FROM AUGUST 12, 2010 (INCEPTION) TO JULY 31, 2013

 

   Nine months ended
July 31, 2013
  Nine months ended
July 31, 2012
  Period from
August 12, 2010 (Inception) to
July 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES               
Net loss for the period  $(11,515)  $(6,000)  $(84,690)
Changes in assets and liabilities:               
(Increase) decrease in prepaid expenses   169    0    (506)
Increase (decrease) in accrued expenses   5,450    (6,519)   9,900 
Net Cash Used by Operating Activities   (5,896)   (12,519)   (75,296)
                
CASH FLOWS FROM FINANCING ACTIVITIES               
Proceeds from sales of common stock   50,000    0    102,500 
Proceeds from officer loan   3,750    12,519    20,650 
Net Cash Provided by Financing Activities   53,750    12,519    123,150 
                
Net Increase (Decrease) in Cash and Cash Equivalents   47,854    0    47,854 
                
Cash and cash equivalents, beginning of period   0    10,059    0 
Cash and cash equivalents, end of period  $47,854   $10,059   $47,854 
                
SUPPLEMENTAL CASH FLOW INFORMATION               
Interest paid  $0   $0   $0 
Income taxes paid  $0   $0   $0 

 

See accompanying notes to financial statements.

F-3

 

AVANTE SYSTEMS, INC.

(A DEVELOPMENT STAGE COMPANY)

NOTES TO THE FINANCIAL STATEMENTS

JULY 31, 2013

 

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

Nature of Business

Avante Systems, Inc. (“Avante” and the “Company”) is a development stage company and was incorporated in Nevada on August 12, 2010. The Company was formed for the purpose of developing, manufacturing, and selling a video camera integrated with a 3G mobile phone module specifically for use in schools, child/eldercare facilities, and residences in Asia. The Company has changed its business focus to developing a business focused on 3D printers for professionals and consumers.

 

Development Stage Company

The accompanying financial statements have been prepared in accordance with generally accepted accounting principles related to development-stage companies. A development-stage company is one in which planned principal operations have not commenced or if its operations have commenced, and there has been no significant revenues there from.

 

Basis of Presentation

The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars.

 

Accounting Basis

The Company uses the accrual basis of accounting and accounting principles generally accepted in the United States of America (“GAAP” accounting).  The Company has adopted an October 31 fiscal year end.

 

Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.

 

Cash and Cash Equivalents

For purposes of the statement of cash flows, the Company considers highly liquid financial instruments purchased with a maturity of three months or less to be cash equivalents.

 

Fair Value of Financial Instruments

Avante’s financial instruments consist of cash and cash equivalents, prepaid expenses, accrued expenses and an amount due to an officer. The carrying amount of these financial instruments approximates fair value due either to length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements.

 

Income Taxes

Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized.

F-4

 

AVANTE SYSTEMS, INC.

(A DEVELOPMENT STAGE COMPANY)

NOTES TO THE FINANCIAL STATEMENTS

JULY 31, 2013

 

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

 

Revenue Recognition

The Company will recognize revenue when products are fully delivered or services have been provided and collection is reasonably assured.

 

Loss Per Common Share

Basic loss per share is calculated using the weighted-average number of common shares outstanding during each reporting period. Diluted loss per share includes potentially dilutive securities such as outstanding options and warrants, using various methods such as the treasury stock or modified treasury stock method in the determination of dilutive shares outstanding during each reporting period. The Company does not have any potentially dilutive instruments.

 

Stock-Based Compensation

Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718. To date, the Company has not adopted a stock option plan and has not granted any stock options.

 

As of July 31, 2013, the Company has not issued any stock-based payments to its employees.

 

Recent Accounting Pronouncements

Avante does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial position or cash flow.

 

NOTE 2 – PREPAID EXPENSES

 

Prepaid expenses at July 31, 2013 consisted of an advance paid to the Company’s attorney for services to be rendered in future periods.

 

NOTE 3 – ACCRUED EXPENSES

 

Accrued expenses consisted of the following at July 31, 2013 and October 31, 2012:

 

   July 31, 2013  October 31, 2012
Audit and accounting fees  $3,700   $3,750 
Legal fees   0    0 
Transfer agent fees   6,200    700 
Total Accrued Expenses  $9,900   $4,450 

 

NOTE 4 – DUE TO OFFICER

 

During the year ended October 31, 2011, an officer and shareholder loaned the Company $1,500 to help fund operations. The officer loaned an additional $15,400 during the year ended October 31, 2012 and an additional $3,750 during the nine months ended July 31, 2013. The balance due to the officer was $20,650 and $16,900 as of July 31, 2013 and October 31, 2012, respectively. The loans were non-interest bearing, unsecured and due upon demand. During the period ended July 31, 2013, the director agreed to forgive the balances payable. As a result, there has been an increase in additional paid in capital in the amount of $ 20,650.

F-5

 

AVANTE SYSTEMS, INC.

(A DEVELOPMENT STAGE COMPANY)

NOTES TO THE FINANCIAL STATEMENTS

JULY 31, 2013

 

NOTE 5 – CAPITAL STOCK

 

The Company has 100,000,000 shares of $0.001 par value common stock authorized and 10,000,000 shares of $0.001 par value preferred stock authorized.

 

During the period ended October 31, 2010, the Company issued 2,625,000 shares of common stock at $0.02 per share for total cash proceeds of $52,500.

 

During the period ended July 31, 2013, a shareholder of the company surrendered 1,275,000 shares of common stock for voluntarily cancellation.

 

During the period ended July 31, 2013, the Company issued 1,000,000 shares of common stock at $0.05 per share for total cash proceeds of $50,000.

 

The Company has 2,350,000 shares of common stock issued and outstanding as of July 31, 2013. There are no shares of preferred stock issued and outstanding as of July 31, 2013.

 

NOTE 6 – COMMITMENTS AND CONTINGENCIES

 

Avante neither owns nor leases any real or personal property. An officer has provided office space without charge. There is no obligation for the officer to continue this arrangement. Such costs are immaterial to the financial statements and accordingly are not reflected herein. The officers and directors are involved in other business activities and most likely will become involved in other business activities in the future.

F-6

 

NOTE 7 – INCOME TAXES

 

For the period ended July 31, 2013, Avante has incurred net losses and, therefore, has no tax liability. The net deferred tax asset generated by the loss carry-forward has been fully reserved. The cumulative net operating loss carry-forward is approximately $84,700 at July 31, 2013, and will expire beginning in the year 2031.

 

The provision for Federal income tax consists of the following for the nine month periods ended July 31:

 

   2013  2012
Federal income tax benefit attributable to:          
Current operations  $3,915   $2,040 
Less: valuation allowance   (3,915)   (2,040)
Net provision for Federal income taxes  $0   $0 

 

The cumulative tax effect at the expected rate of 34% of significant items comprising our net deferred tax amount is as follows:

 

   July 31, 2013  October 31, 2012
Deferred tax asset attributable to:          
Net operating loss carryover  $28,794   $24,879 
Less: valuation allowance   (28,794)   (24,879)
Net deferred tax asset  $0   $0 

 

Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards of approximately $84,700 for Federal income tax reporting purposes are subject to annual limitations. A change in control has resulted in the use of the net operating loss carry forwards being limited in future years.

 

NOTE 8 – LIQUIDITY AND GOING CONCERN

 

Avante has negative working capital, has not yet received revenues from sales of products or services, and has incurred operating losses since its inception. These factors create substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustment that might be necessary if the Company is unable to continue as a going concern.

 

The ability of Avante to continue as a going concern is dependent on the Company generating cash from the sale of its common stock and/or obtaining debt financing and attaining future profitable operations. Management’s plans include selling its equity securities and obtaining debt financing to fund its capital requirement and ongoing operations; however, there can be no assurance the Company will be successful in these efforts.

 

NOTE 9 – SUBSEQUENT EVENTS

 

In accordance with ASC Topic 855-10, the Company has analyzed its operations subsequent to July 31, 2013 to the date these financial statements were issued, and has determined that it does not have any additional material subsequent events to disclose in these financial statements.

F-7

 

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

 

Forward-Looking Statements

 

Certain statements, other than purely historical information, including estimates, projections, statements relating to our business plans, objectives, and expected operating results, and the assumptions upon which those statements are based, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements generally are identified by the words “believes,” “project,” “expects,” “anticipates,” “estimates,” “intends,” “strategy,” “plan,” “may,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. We intend such forward-looking statements to be covered by the safe-harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and are including this statement for purposes of complying with those safe-harbor provisions. Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from the forward-looking statements. Our ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Factors which could have a material adverse affect on our operations and future prospects on a consolidated basis include, but are not limited to: changes in economic conditions, legislative/regulatory changes, availability of capital, interest rates, competition, and generally accepted accounting principles. These risks and uncertainties should also be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. We undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Further information concerning our business, including additional factors that could materially affect our financial results, is included herein and in our other filings with the SEC.

 

Company Overview

 

We were incorporated in the State of Nevada on August 12, 2010. Until recently, we were a development stage company engaged in the business of developing, manufacturing, and selling a video camera integrated with a 3G mobile phone module specifically for use in schools, child/eldercare facilities, and residences in Asia.

Since the initiation of this plan of operations, however, we have experienced losses and have been unable to obtain additional finances. In order to pursue our business plan, we would need to obtain additional funding in the form of equity financing from the sale of our common stock or loans. Unfortunately, we have not been able to identify sources of equity financing and do not have any arrangements in place for any future financing. The risky nature of this enterprise and lack of tangible assets places debt financing out of our reach.

Because of the difficulties in raising additional funding, we have been presented with the difficult task of re-evaluating our business plan to determine whether it continues to be commercially viable. As a result of our lack of progress so far, the uncertainty regarding the source of our required additional funding and the relatively risky overall nature of our enterprise, management has been evaluating alternative business opportunities.

On April 19, 2013, we entered into an Agreement of Conveyance, Transfer and Assignment of Assets and Assumption of Obligations (the “Agreement”) with our prior officers and directors, Xu Hai Bo and Ran Hong Dan. Pursuant to the Agreement, we transferred all assets and business operations associated with our video camera to Xu Hai Bo and Ran Hong Dan. In exchange, Xu Hai Bo and Ran Hong Dan agreed to cancel their 1,275,000 shares in our company and assume and cancel all liabilities relating to our former business, including officer loans amounting to $20,650.

As a result of the Agreement, we are no longer pursuing our former business plan. Under the direction of our newly appointed officer and director, Yuen Hong Sezto, we intend to develop a business focused on 3D printers for professionals and consumers. We plan to take active steps in the next twelve months to develop this line of business.

We have changed our corporate address to Room 709-710, 7/F Tower 1, Silvercord Centre, Tsim Sha Tsui, Kowloon, Hong Kong. Our telephone number is 852-3111-3951.

4

 

Results of operations for the three and nine months ended July 31, 2013 and 2012, and for the period from Inception (August 12, 2010) to July 31, 2013

 

We have not earned any revenues since our inception on August 12, 2010. We do not anticipate earning revenues until such time that we have fully developed and are able to market viable products or services.

 

We incurred operating expenses in the amount of $2,146 for the three months ended July 31, 2013, as compared with $2,000 for the same period ended 2012. We incurred operating expenses in the amount of $11,515 for the nine months ended July 31, 2013, as compared with $6,000 for the same period ended 2012. We incurred operating expenses in the amount of $84,690 for the period from August 12, 2010 (Inception) to July 31, 2013. The entire amount for each mentioned period was mainly attributable to professional fees. 

 

We incurred a net loss in the amount of $2,146 for the three months ended July 31, 2013, as compared with $2,000 for the same period ended 2012. We incurred a net loss in the amount of $11,515 for the nine months ended July 31, 2013, as compared with $6,000 for the same period ended 2012, and $84,690 for the period from August 12, 2010 (Inception) to July 31, 2013. Our losses for each period are attributable to operating expenses together with a lack of any revenues.

 

Liquidity and Capital Resources

 

As of July 31, 2013, we had total current assets of $48,360. Our total current liabilities as of July 31, 2013 were $9,900. As a result, we had working capital of $38,460 as of July 31, 2013.

 

The success of our business plan beyond the next 12 months is contingent upon us obtaining additional financing. We intend to fund operations through debt and/or equity financing arrangements, which may be insufficient to fund our capital expenditures, working capital, or other cash requirements. We do not have any formal commitments or arrangements for the sales of stock or the advancement or loan of funds at this time. There can be no assurance that such additional financing will be available to us on acceptable terms, or at all.

 

Off Balance Sheet Arrangements

 

As of July 31, 2013, there were no off balance sheet arrangements.

 

Going Concern

 

We have negative working capital, have incurred losses since inception, and have not yet received revenues from sales of products or services. These factors create substantial doubt about our ability to continue as a going concern. The financial statements do not include any adjustment that might be necessary if we are unable to continue as a going concern.

 

Our ability to continue as a going concern is dependent on generating cash from the sale of our common stock and/or obtaining debt financing and attaining future profitable operations. Management’s plans include selling our equity securities and obtaining debt financing to fund our capital requirement and ongoing operations; however, there can be no assurance we will be successful in these efforts.

 

Item 3. Quantitative and Qualitative Disclosures About Market Risk

 

A smaller reporting company is not required to provide the information required by this Item.

5

 

Item 4. Controls and Procedures

 

We carried out an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) as of July 31, 2013. This evaluation was carried out under the supervision and with the participation of our Chief Executive Officer and our Chief Financial Officer, Yuen Hong Sezto. Based upon that evaluation, our Chief Executive Officer and Chief Financial Officer concluded that, as of July 31, 2013, our disclosure controls and procedures are effective. There have been no changes in our internal controls over financial reporting during the quarter ended July 31, 2013.

 

Disclosure controls and procedures are controls and other procedures that are designed to ensure that information required to be disclosed in our reports filed or submitted under the Exchange Act are recorded, processed, summarized and reported, within the time periods specified in the SEC's rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed in our reports filed under the Exchange Act is accumulated and communicated to management, including our Chief Executive Officer and Chief Financial Officer, to allow timely decisions regarding required disclosure.

 

Limitations on the Effectiveness of Internal Controls

 

Our management does not expect that our disclosure controls and procedures or our internal control over financial reporting will necessarily prevent all fraud and material error. Our disclosure controls and procedures are designed to provide reasonable assurance of achieving our objectives and our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures are effective at that reasonable assurance level. Further, the design of a control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs. Because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within the Company have been detected. These inherent limitations include the realities that judgments in decision-making can be faulty, and that breakdowns can occur because of simple error or mistake. Additionally, controls can be circumvented by the individual acts of some persons, by collusion of two or more people, or by management override of the internal control. The design of any system of controls also is based in part upon certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions. Over time, control may become inadequate because of changes in conditions, or the degree of compliance with the policies or procedures may deteriorate.

6

 

PART II – OTHER INFORMATION

 

Item 1. Legal Proceedings

 

We are not a party to any pending legal proceeding. We are not aware of any pending legal proceeding to which any of our officers, directors, or any beneficial holders of 5% or more of our voting securities are adverse to us or have a material interest adverse to us.

 

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

 

None

 

Item 3. Defaults upon Senior Securities

 

None

 

Item 4. Mine Safety Disclosures

 

Not applicable.

 

Item 5. Other Information

 

None

 

Item 6. Exhibits

 

Exhibit Number Description of Exhibit
31.1 Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2 Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1 Certification of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101** The following materials from the Company’s Quarterly Report on Form 10-Q for the quarter ended July 31, 2013 formatted in Extensible Business Reporting Language (XBRL).

**Provided herewith

7

 

SIGNATURES

 

Pursuant to the requirements of Section 13 or 15(d) of the Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  Avante Systems, Inc.
   
Date: August 29, 2013
   
By:

/s/ Yuen Hong Sezto

Yuen Hong Sezto

Title: Chief Executive Officer and Director

 

8

EX-31.1 2 ex31_1.htm EX31_1

CERTIFICATIONS

 

I, Yuen Hong Sezto, certify that;

 

1.   I have reviewed this quarterly report on Form 10-Q for the quarter ended July 31, 2013 of Avante Systems, Inc (the “registrant”);

 

2.   Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

 

3.   Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

 

4.   The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

 

a.   Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

b.   Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

c.   Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

 

d.   Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

 

5.   The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

 

a.   All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

 

b.   Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

 

Date: August 29, 2013

 

/s/ Yuen Hong Sezto

By: Yuen Hong Sezto

Title: Chief Executive Officer

 

EX-31.2 3 ex31_2.htm EX31_2

CERTIFICATIONS

 

I, Yuen Hong Sezto, certify that;

 

1.   I have reviewed this quarterly report on Form 10-Q for the quarter ended July 31, 2013 of Avante Systems, Inc (the “registrant”);

 

2.   Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

 

3.   Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

 

4.   The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

 

a.   Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

b.   Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

c.   Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

 

d.   Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

 

5.   The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

 

a.   All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

 

b.   Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

 

Date: August 29, 2013

 

/s/ Yuen Hong Sezto

By: Yuen Hong Sezto

Title: Chief Financial Officer

EX-32.1 4 ex32_1.htm EX32_1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER AND

CHIEF FINANCIAL OFFICER

PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

 

In connection with the quarterly Report of Avante Systems, Inc (the “Company”) on Form 10-Q for the quarter ended July 31, 2013 filed with the Securities and Exchange Commission (the “Report”), I, Yuen Hong Sezto, Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

 

1.The Report fully complies with the requirements of Section 13(a) of the Securities Exchange Act of 1934; and

 

2.The information contained in the Report fairly presents, in all material respects, the consolidated financial condition of the Company as of the dates presented and the consolidated result of operations of the Company for the periods presented.

 

By: /s/ Yuen Hong Sezto
Name: Yuen Hong Sezto
Title: Principal Executive Officer, Principal Financial Officer and Director
Date: August 29, 2013

 

This certification has been furnished solely pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

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INCOME TAXES (Tables)
9 Months Ended
Jul. 31, 2013
Income Tax Disclosure [Abstract]  
Federal Income Tax
    2013   2012
Federal income tax benefit attributable to:                
Current operations   $ 3,915     $ 2,040  
Less: valuation allowance     (3,915 )     (2,040 )
Net provision for Federal income taxes   $ 0     $ 0  
Deferred Tax Asset
    July 31, 2013   October 31, 2012
Deferred tax asset attributable to:                
Net operating loss carryover   $ 28,794     $ 24,879  
Less: valuation allowance     (28,794 )     (24,879 )
Net deferred tax asset   $ 0     $ 0  
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Statements of Operations (USD $)
3 Months Ended 9 Months Ended 36 Months Ended
Jul. 31, 2013
Jul. 31, 2012
Jul. 31, 2013
Jul. 31, 2012
Jul. 31, 2013
Income Statement [Abstract]          
REVENUES $ 0 $ 0 $ 0 $ 0 $ 0
OPERATING EXPENSES          
Organization costs 0 0 0 0 320
Bank charges 46 0 46 0 66
Professional fees 2,100 2,000 11,469 6,000 84,304
TOTAL OPERATING EXPENSES 2,146 2,000 11,515 6,000 84,690
LOSS FROM OPERATIONS (2,146) (2,000) (11,515) (6,000) (84,690)
PROVISION FOR INCOME TAXES 0 0 0 0 0
NET LOSS $ (2,146) $ (2,000) $ (11,515) $ (6,000) $ (84,690)
NET LOSS PER SHARE: BASIC AND DILUTED $ 0.00 $ 0.00 $ 0.00 $ 0.00  
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED 2,350,000 2,625,000 2,502,777 2,625,000  
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CAPITAL STOCK
9 Months Ended
Jul. 31, 2013
Equity [Abstract]  
CAPITAL STOCK

The Company has 100,000,000 shares of $0.001 par value common stock authorized and 10,000,000 shares of $0.001 par value preferred stock authorized.

 

During the period ended October 31, 2010, the Company issued 2,625,000 shares of common stock at $0.02 per share for total cash proceeds of $52,500.

 

During the period ended July 31, 2013, a shareholder of the company surrendered 1,275,000 shares of common stock for voluntarily cancellation.

 

During the period ended July 31, 2013, the Company issued 1,000,000 shares of common stock at $0.05 per share for total cash proceeds of $50,000.

 

The Company has 2,350,000 shares of common stock issued and outstanding as of July 31, 2013. There are no shares of preferred stock issued and outstanding as of July 31, 2013.

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INCOME TAXES (Details Narrative) (USD $)
9 Months Ended
Jul. 31, 2013
Income Tax Disclosure [Abstract]  
Operating Loss Carry Forward $ 84,700
Carryforward Expiration Date Jan. 01, 2031
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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)
9 Months Ended
Jul. 31, 2013
Accounting Policies [Abstract]  
Date Of Incorporation Aug. 12, 2010
Current Fiscal Year End Date --10-31
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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
9 Months Ended
Jul. 31, 2013
Accounting Policies [Abstract]  
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Nature of Business

Avante Systems, Inc. (“Avante” and the “Company”) is a development stage company and was incorporated in Nevada on August 12, 2010. The Company was formed for the purpose of developing, manufacturing, and selling a video camera integrated with a 3G mobile phone module specifically for use in schools, child/eldercare facilities, and residences in Asia. The Company has changed its business focus to developing a business focused on 3D printers for professionals and consumers.

 

Development Stage Company

The accompanying financial statements have been prepared in accordance with generally accepted accounting principles related to development-stage companies. A development-stage company is one in which planned principal operations have not commenced or if its operations have commenced, and there has been no significant revenues there from.

 

Basis of Presentation

The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars.

 

Accounting Basis

The Company uses the accrual basis of accounting and accounting principles generally accepted in the United States of America (“GAAP” accounting). The Company has adopted an October 31 fiscal year end.

 

Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.

 

Cash and Cash Equivalents

For purposes of the statement of cash flows, the Company considers highly liquid financial instruments purchased with a maturity of three months or less to be cash equivalents.

 

Fair Value of Financial Instruments

Avante’s financial instruments consist of cash and cash equivalents, prepaid expenses, accrued expenses and an amount due to an officer. The carrying amount of these financial instruments approximates fair value due either to length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements.

 

Income Taxes

Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized.

 

Revenue Recognition

The Company will recognize revenue when products are fully delivered or services have been provided and collection is reasonably assured.

 

Loss Per Common Share

Basic loss per share is calculated using the weighted-average number of common shares outstanding during each reporting period. Diluted loss per share includes potentially dilutive securities such as outstanding options and warrants, using various methods such as the treasury stock or modified treasury stock method in the determination of dilutive shares outstanding during each reporting period. The Company does not have any potentially dilutive instruments.

 

Stock-Based Compensation

Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718. To date, the Company has not adopted a stock option plan and has not granted any stock options.

 

As of July 31, 2013, the Company has not issued any stock-based payments to its employees.

 

Recent Accounting Pronouncements

Avante does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial position or cash flow.

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ACCRUED EXPENSES
9 Months Ended
Jul. 31, 2013
Notes to Financial Statements  
ACCRUED EXPENSES

Accrued expenses consisted of the following at July 31, 2013 and October 31, 2012:

 

    July 31, 2013   October 31, 2012
Audit and accounting fees   $ 3,700     $ 3,750  
Legal fees     0       0  
Transfer agent fees     6,200       700  
Total Accrued Expenses   $ 9,900     $ 4,450

XML 25 R11.xml IDEA: COMMITMENTS AND CONTINGENCIES 2.4.0.80011 - Disclosure - COMMITMENTS AND CONTINGENCIEStruefalsefalse1false falsefalseFrom2012-11-01to2013-07-31http://www.sec.gov/CIK0001504388duration2012-11-01T00:00:002013-07-31T00:00:001true 1us-gaap_CommitmentsAndContingenciesDisclosureAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse02false 2us-gaap_CommitmentsAndContingenciesDisclosureTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<p style="margin: 0pt"><font style="font: 10pt Times New Roman, Times, Serif">Avante neither owns nor leases any real or personal property. An officer has provided office space without charge. There is no obligation for the officer to continue this arrangement. Such costs are immaterial to the financial statements and accordingly are not reflected herein. The officers and directors are involved in other business activities and most likely will become involved in other business activities in the future.</font></p> <p></p>falsefalsefalsenonnum:textBlockItemTypenaThe entire disclosure for commitments and contingencies.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name FASB Interpretation (FIN) -Number 14 -Paragraph 3 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.25) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6449706&loc=d3e16207-108621 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=6398077&loc=d3e12565-110249 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 450 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6952336&loc=d3e14435-108349 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 440 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6394976&loc=d3e25287-109308 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 5 -Paragraph 9, 10, 11, 12 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. false0falseCOMMITMENTS AND CONTINGENCIESUnKnownUnKnownUnKnownUnKnowntruefalsefalseSheethttp://AVTS/role/CommitmentsAndContingencies12 XML 26 R11.htm IDEA: XBRL DOCUMENT v2.4.0.8
COMMITMENTS AND CONTINGENCIES
9 Months Ended
Jul. 31, 2013
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES

Avante neither owns nor leases any real or personal property. An officer has provided office space without charge. There is no obligation for the officer to continue this arrangement. Such costs are immaterial to the financial statements and accordingly are not reflected herein. The officers and directors are involved in other business activities and most likely will become involved in other business activities in the future.

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DUE TO OFFICER
9 Months Ended
Jul. 31, 2013
Related Party Transactions [Abstract]  
DUE TO OFFICER

During the year ended October 31, 2011, an officer and shareholder loaned the Company $1,500 to help fund operations. The officer loaned an additional $15,400 during the year ended October 31, 2012 and an additional $3,750 during the nine months ended July 31, 2013. The balance due to the officer was $20,650 and $16,900 as of July 31, 2013 and October 31, 2012, respectively. The loans were non-interest bearing, unsecured and due upon demand. During the period ended July 31, 2013, the director agreed to forgive the balances payable. As a result, there has been an increase in additional paid in capital in the amount of $ 20,650.

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Statement of Financial Position [Abstract]      
Common Stock, Par Value $ 0.001 $ 0.001  
Common Stock, Shares Authorized 100,000,000 100,000,000  
Common Stock, Issued and Outstanding 2,350,000   2,625,000
Preferred Stock, Par Value $ 0.001 $ 0.001  
Preferred Stock, Shares Authorized 10,000,000 10,000,000  
Preferred Stock, Issued 0 0  
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SUBSEQUENT EVENTS
9 Months Ended
Jul. 31, 2013
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

In accordance with ASC Topic 855-10, the Company has analyzed its operations subsequent to July 31, 2013 to the date these financial statements were issued, and has determined that it does not have any additional material subsequent events to disclose in these financial statements

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Statements of Cash Flows (USD $)
9 Months Ended 12 Months Ended 36 Months Ended
Jul. 31, 2013
Jul. 31, 2012
Oct. 31, 2012
Jul. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES        
Net loss for the period $ (11,515) $ (6,000)   $ (84,690)
Changes in assets and liabilities:        
(Increase) decrease in prepaid expenses 169 0   (506)
Increase (decrease) in accrued expenses 5,450 (6,519)   9,900
Net Cash Used by Operating Activities (5,896) (12,519)   (75,296)
CASH FLOWS FROM FINANCING ACTIVITIES        
Proceeds from sales of common stock 50,000 0   102,500
Proceeds from officer loan 3,750 12,519 15,400 20,650
Net Cash Provided by Financing Activities 53,750 12,519   123,150
Net Increase (Decrease) in Cash and Cash Equivalents 47,854 0   47,854
Cash and cash equivalents, beginning of period 0 10,059 10,059 0
Cash and cash equivalents, end of period 47,854 10,059 0 47,854
SUPPLEMENTAL CASH FLOW INFORMATION        
Interest paid 0 0   0
Income taxes paid $ 0 $ 0   $ 0
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Balance Sheets (USD $)
Jul. 31, 2013
Oct. 31, 2012
Current Assets    
Cash and equivalents $ 47,854 $ 0
Prepaid expenses 506 675
TOTAL ASSETS 48,360 675
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)    
Current Liabilities 9,900 21,350
Accrued expenses 9,900 4,450
Due to officer 0 16,900
Total Liabilities 9,900 21,350
Stockholders’ Equity (Deficit)    
Common Stock, $.001 par value, 100,000,000 shares authorized, 2,350,000 shares issued and outstanding (2012-2,625,000 shares issued and outstanding 2,350 2,625
Preferred Stock, $.001 par value, 10,000,000 shares authorized, -0- shares issued and outstanding 0 0
Additional paid-in capital 120,800 49,875
Deficit accumulated during the development stage (84,690) (73,175)
Total stockholders’ equity (deficit) 38,460 (20,675)
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) $ 48,360 $ 675
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INCOME TAXES - Deferred Tax Asset (Details) (USD $)
Jul. 31, 2013
Oct. 31, 2012
Deferred tax asset attributable to:    
Net operating loss carryover $ 28,794 $ 24,879
Less: valuation allowance (28,794) (24,879)
Net deferred tax asset $ 0 $ 0
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LIQUIDITY AND GOING CONCERN
9 Months Ended
Jul. 31, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
LIQUIDITY AND GOING CONCERN

Avante has negative working capital, has not yet received revenues from sales of products or services, and has incurred operating losses since its inception. These factors create substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustment that might be necessary if the Company is unable to continue as a going concern.

 

The ability of Avante to continue as a going concern is dependent on the Company generating cash from the sale of its common stock and/or obtaining debt financing and attaining future profitable operations. Management’s plans include selling its equity securities and obtaining debt financing to fund its capital requirement and ongoing operations; however, there can be no assurance the Company will be successful in these efforts.

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ACCRUED EXPENSES (Tables)
9 Months Ended
Jul. 31, 2013
Notes to Financial Statements  
ACCRUED EXPENSES
    July 31, 2013   October 31, 2012
Audit and accounting fees   $ 3,700     $ 3,750  
Legal fees     0       0  
Transfer agent fees     6,200       700  
Total Accrued Expenses   $ 9,900     $ 4,450
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INCOME TAXES
9 Months Ended
Jul. 31, 2013
Income Tax Disclosure [Abstract]  
INCOME TAXES

For the period ended July 31, 2013, Avante has incurred net losses and, therefore, has no tax liability. The net deferred tax asset generated by the loss carry-forward has been fully reserved. The cumulative net operating loss carry-forward is approximately $84,700 at July 31, 2013, and will expire beginning in the year 2031.

 

The provision for Federal income tax consists of the following for the nine month periods ended July 31:

 

    2013   2012
Federal income tax benefit attributable to:                
Current operations   $ 3,915     $ 2,040  
Less: valuation allowance     (3,915 )     (2,040 )
Net provision for Federal income taxes   $ 0     $ 0  

 

The cumulative tax effect at the expected rate of 34% of significant items comprising our net deferred tax amount is as follows:

 

    July 31, 2013   October 31, 2012
Deferred tax asset attributable to:                
Net operating loss carryover   $ 28,794     $ 24,879  
Less: valuation allowance     (28,794 )     (24,879 )
Net deferred tax asset   $ 0     $ 0  

 

Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards of approximately $84,700 for Federal income tax reporting purposes are subject to annual limitations. A change in control has resulted in the use of the net operating loss carry forwards being limited in future years.

 

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PREPAID EXPENSES
9 Months Ended
Jul. 31, 2013
Notes to Financial Statements  
PREPAID EXPENSES

Prepaid expenses at July 31, 2013 consisted of an advance paid to the Company’s attorney for services to be rendered in future periods.

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ACCRUED EXPENSES - ACCRUED EXPENSES (Details) (USD $)
Jul. 31, 2013
Oct. 31, 2012
Notes to Financial Statements    
Audit and accounting fees $ 3,700 $ 3,750
Legal fees 0 0
Transfer agent fees 6,200 700
Total Accrued Expenses $ 9,900 $ 4,450
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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
9 Months Ended
Jul. 31, 2013
Accounting Policies [Abstract]  
Nature of Business

Nature of Business

Avante Systems, Inc. (“Avante” and the “Company”) is a development stage company and was incorporated in Nevada on August 12, 2010. The Company was formed for the purpose of developing, manufacturing, and selling a video camera integrated with a 3G mobile phone module specifically for use in schools, child/eldercare facilities, and residences in Asia. The Company has changed its business focus to developing a business focused on 3D printers for professionals and consumers.

Development Stage Company

Development Stage Company

The accompanying financial statements have been prepared in accordance with generally accepted accounting principles related to development-stage companies. A development-stage company is one in which planned principal operations have not commenced or if its operations have commenced, and there has been no significant revenues there from.

Basis of Presentation

Basis of Presentation

The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars.

Accounting Basis

Accounting Basis

The Company uses the accrual basis of accounting and accounting principles generally accepted in the United States of America (“GAAP” accounting). The Company has adopted an October 31 fiscal year end.

Use of Estimates

Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Cash and Cash Equivalents

Cash and Cash Equivalents

For purposes of the statement of cash flows, the Company considers highly liquid financial instruments purchased with a maturity of three months or less to be cash equivalents.

Fair Value of Financial Instruments

Fair Value of Financial Instruments

Avante’s financial instruments consist of cash and cash equivalents, prepaid expenses, accrued expenses and an amount due to an officer. The carrying amount of these financial instruments approximates fair value due either to length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements.

Income Taxes

Income Taxes

Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized.

Revenue Recognition

Revenue Recognition

The Company will recognize revenue when products are fully delivered or services have been provided and collection is reasonably assured.

Loss Per Common Share

Loss Per Common Share

Basic loss per share is calculated using the weighted-average number of common shares outstanding during each reporting period. Diluted loss per share includes potentially dilutive securities such as outstanding options and warrants, using various methods such as the treasury stock or modified treasury stock method in the determination of dilutive shares outstanding during each reporting period. The Company does not have any potentially dilutive instruments.

Stock-Based Compensation

Stock-Based Compensation

Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718. To date, the Company has not adopted a stock option plan and has not granted any stock options.

 

As of July 31, 2013, the Company has not issued any stock-based payments to its employees.

Recent Accounting Pronouncements

Recent Accounting Pronouncements

Avante does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial position or cash flow.

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INCOME TAXES - Federal Income Tax (Details) (USD $)
9 Months Ended
Jul. 31, 2013
Jul. 31, 2012
Federal income tax benefit attributable to:    
Current operations $ 3,915 $ 2,040
Less: valuation allowance (3,915) (2,040)
Net provision for Federal income taxes $ 0 $ 0
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Jul. 31, 2012
Oct. 31, 2012
Oct. 31, 2011
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Related Party Transactions [Abstract]          
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Entity Registrant Name Avante Systems, Inc.  
Entity Central Index Key 0001504388  
Document Type 10-Q  
Document Period End Date Jul. 31, 2013  
Amendment Flag false  
Current Fiscal Year End Date --10-31  
Is Entity a Well-known Seasoned Issuer? No  
Is Entity a Voluntary Filer? No  
Is Entity's Reporting Status Current? Yes  
Entity Filer Category Smaller Reporting Company  
Entity Common Stock, Shares Outstanding   2,350,000
Document Fiscal Period Focus Q3  
Document Fiscal Year Focus 2013  
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CAPITAL STOCK (Details Narrative) (USD $)
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Oct. 31, 2010
Jul. 31, 2013
Jul. 31, 2012
Jul. 31, 2013
Oct. 31, 2012
Equity [Abstract]          
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Common Stock Par Value   $ 0.001   $ 0.001 $ 0.001
Preferred Stock Shares Authorized   10,000,000   10,000,000 10,000,000
Preferred Stock Par Value   $ 0.001   $ 0.001 $ 0.001
Common Stock Shares Issued 2,625,000 2,350,000   2,350,000  
Common Stock Stated Value, Price Per Share Sold 0.02        
Proceeds From Issuance of Common Stock $ 52,000 $ 50,000 $ 0 $ 102,500  
Preferred Stock Shares Issued   0   0 0
Common Stock, Voluntary cancellation of shares   1,275,000      
Common Stock, shares issued for cash proceeds   $ 1,000,000      
Common Stock, price per share for cash proceeds   0.05      
Common Stock, Issued and Outstanding 2,625,000 2,350,000   2,350,000  
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