secwatch.observer — SEC 8-K summary
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Issuer:     AVAI BIO, INC. (AVAI)
CIK:        0001740797
Form:       8-K/A
Filed at:   2023-07-26T23:59:59+00:00
Accession:  0001740797-23-000060
Event type: leadership
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Avant Technologies names Danny Rittman CISO; $300K annual salary paid in shares, contingent cash bonus
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- Appointment effective July 24, 2023; base salary $300,000/year in common shares, rising to $600,000 on up-listing to national exchange.
- Quarterly stock issuances equal $75,000 divided by 20-day VWAP; one-time $50,000 cash bonus due within 30 days of equity financing.
- Term expires August 1, 2024; either party may terminate without cause on 30 days' notice.
- Rittman concurrently serves as CTO of GBT Technologies (OTC: GTCH); company states no conflict with his new role.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1740797/000174079723000060/0001740797-23-000060-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1740797/000174079723000060/avai_8kam.htm
  HTML page:      https://secwatch.observer/filing/0001740797-23-000060

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