secwatch.observer — SEC 8-K summary
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Issuer:     AVAI BIO, INC. (AVAI)
CIK:        0001740797
Form:       8-K
Filed at:   2023-07-26T23:59:59+00:00
Accession:  0001740797-23-000057
Event type: leadership
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 3.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Avant Technologies appoints Danny Rittman as CISO with $300K salary payable in shares
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- Danny Rittman appointed Chief Information Security Officer (CISO) effective July 24, 2023.
- Base salary $300K/year payable in shares quarterly based on 20-day VWAP; rises to $600K upon up-listing to a national exchange.
- One-time $50K cash payment due within 30 days after company raises sufficient equity or working capital.
- Rittman concurrently serves as CTO of GBT Technologies (GTCH); company acknowledges no conflict with existing agreements.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1740797/000174079723000057/0001740797-23-000057-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1740797/000174079723000057/avai_8k.htm
  HTML page:      https://secwatch.observer/filing/0001740797-23-000057

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer