AVAI BIO, INC. terminated Joint Venture and License Agreement with Ainnova Tech Inc. valued at No termination penalties or further financial obligations will be incurred by either party. (effective 2026-05-07).
“On May 7, 2026, Avai Bio, Inc., formerly known as Avant Technologies Inc. (the “Company” or “AVAI”), and Ainnova Tech Inc. (“Ainnova” or “AINN”) entered into a Mutual Termination Agreement (the “Termination Agreement”) to terminate, by mutual consent, the Joint Venture and License Agreement dated November 8, 2024 (effective as of November 11, 2024) (the “License Agreement”).”
Vitalis Racius was appointed as Chief Financial Officer at AVAI BIO, INC..
“Mr. Racius, the current Chief Operating Officer (the “COO”), Director, and Treasurer, was reappointed as the Company's Chief Financial Officer (the “CFO”) while continuing his roles as Director and Treasurer.”
William Hisey resigned as Chief Financial Officer at AVAI BIO, INC..
“Effective September 9, 2024, Mr. Hisey vacated his position as Chief Financial Officer (the “CFO”) of the Company.”
Racius was appointed as Chief Operating Officer at AVAI BIO, INC..
“Mr. Racius, the current CFO, Director, and Treasurer, was reappointed as the Company's Chief Operating Officer (the “COO”) while continuing his roles as Director and Treasurer.”
Hisey was appointed as Chief Financial Officer at AVAI BIO, INC..
“Mr. Hisey, the current interim CEO of the Company, was reappointed as Chief Financial Officer (the “CFO”).”
William Hisey was appointed as Interim Chief Executive Officer at AVAI BIO, INC..
“William Hisey – Interim CEO Appointment: On April 24, 2024, Avant Technologies, Inc. (the 'Company') and William Hisey entered into an Employment Agreement pursuant to which Mr. Hisey was retained as Interim Chief Executive Officer ('CEO').”
Jared Pelski resigned as Vice President – Business Development at AVAI BIO, INC..
“Effective April 24, 2024, Jared Pelski resigned as Vice President – Business Development of the Company.”
Angela Harris resigned as Chief Operating Officer at AVAI BIO, INC..
“Effective April 24, 2024, Angela Harris resigned as Chief Operating Officer ('COO') of the Company.”
Timothy Lantz resigned as Director at AVAI BIO, INC..
“Effective April 24, 2024, Mr. Lantz vacated his positions as CEO and Director of the Company.”
Timothy Lantz resigned as Chief Executive Officer at AVAI BIO, INC..
“Effective April 24, 2024, Mr. Lantz vacated his positions as CEO and Director of the Company.”
Angela Harris was appointed as Chief Operating Officer at AVAI BIO, INC..
“Angela Harris will undertake the responsibilities of COO, starting February 1, 2024”
Jared Pelski was appointed as Vice President – Business Development at AVAI BIO, INC..
“Mr. Pelski assumed the role of Vice President – Business Development at the Company on January 17, 2024.”
Material Agreements
AVAI BIO, INC. entered into Technology Co-Development Agreement with Wired-4-Tech, Inc. valued at development fee in U.S. dollars; exclusive perpetual license and transfer of all intellectual proper (effective 2023-12-11).
“On December 11, 2023 (the "Effective Date"), Avant Technologies, Inc. ("Client") and Wired-4-Tech, Inc. ("Developer") entered into a Technology Co-Development Agreement (the "Agreement").”
Paul Averill resigned as Chief Operating Officer at AVAI BIO, INC..
“Effective November 3, 2023, Paul Averill resigned as Chief Operating Officer (“COO”) of the Company, so that he may fully devote his efforts to his other business.”
Vitalis Racuis changed role as Chief Financial Officer and Treasurer at AVAI BIO, INC..
“Vitalis Racuis – Vacate CEO position Effective November 3, 2023 with the appointment of Mr. Lantz as Director and CEO, Mr. Racuis vacated his CEO position and continues serve as a Director, Chief Financial Officer (“CFO”) and Treasurer of the Company.”
Timothy Lantz was appointed as Director and Chief Executive Officer at AVAI BIO, INC..
“On November 3, 2023, Avant Technologies Inc. (the “Company”) and Timothy Lantz entered into an Employment Agreement pursuant to which Mr. Lantz was retained as Director and Chief Executive Officer (“CEO”).”
Danny Rittman was appointed as Chief Information Security Officer at AVAI BIO, INC..
“On July 27, 2023, Avant Technologies, Inc (f/k/a Trend Innovations Holding Inc.) (the “Company”) and Danny Rittman entered into an Employment Agreement pursuant to which Mr. Rittman was retained as Chief Information Security Officer (“CISO”).”
Danny Rittman was appointed as Chief Information Security Officer at AVAI BIO, INC..
“On July 24, 2023, Avant Technologies, Inc (f/k/a Trend Innovations Holding Inc.) (the “Company”) and Danny Rittman entered into an Employment Agreement pursuant to which Mr. Rittman was retained as Chief Information Security Officer (“CISO”).”
Paul Averill was appointed as Chief Operating Officer at AVAI BIO, INC..
“On April 27, 2023, Trend Innovations Holding Inc. (the “Company”) and Paul Averill entered into an Employment Agreement pursuant to which Mr. Averill was retained as Chief Operating Officer (“COO”).”
Kenneth L. Waggoner was appointed as Chief Executive Officer at AVAI BIO, INC..
“On April 20, 2023, Trend Innovations Holding Inc. (the “Company”) and Kenneth L. Waggoner entered into an Executive Compensation Agreement pursuant to which Mr. Waggoner was retained as Chief Executive Officer.”
Natalija Tunevic departed as President at AVAI BIO, INC..
“Natalija Tunevic resigned as CEO of the Company but will continue to serve as President and a director of the Company.”
Kenneth L. Waggoner was appointed as Chief Executive Officer at AVAI BIO, INC..
“On April 20, 2023, Trend Innovations Holding Inc. (the “Company”) and Kenneth L. Waggoner entered into an Executive Compensation Agreement pursuant to which Mr. Waggoner was retained as Chief Executive Officer.”
Governance Changes
AVAI BIO, INC.: Filed Certificate of Designation designating 5,000 shares of Series A Preferred Stock (effective 2023-04-14).
“In connection with the offering, the Company filed a Certificate of Designation to its Articles of Incorporation designating 5,000 shares of its preferred stock.”
M&A Transactions
AVAI BIO, INC. completed an acquisition involving Treasure Drive Ltd. (closed 2023-04-03).
“On April 3, 2023, the Company, entered into an Asset Purchase Agreement (“Treasure APA”) with Treasure Drive Ltd. (“TD”) pursuant to which the Company agreed to acquire a technology portfolio including certain source codes and pending patent applications which have applications in a variety of areas including creating systems and methods of facilitating digital rating and secured sales of digital works as well as core virtual reality platforms known as digital auction systems, rating and secure sales via open bid auctions (“Instant Fame Assets”). At closing, in consideration of the Instant Fame Assets, the Company shall issue to TD 5,000 convertible preferred shares of the Company with a stated valued at $5,000 per share each (the “Preferred Shares”).”
M&A Transactions
AVAI BIO, INC. underwent a change of control involving GBT Tokenize Corp. (closed 2023-04-03).
“On April 3, 2023, Trend Innovation Holdings, Inc. (the “Company”), entered into an Asset Purchase Agreement (“APA”) along with GBT Tokenize Corp. (“Seller”), which Seller developed and owns a proprietary system and method named Avant-Ai, which is a text-generation, deep learning self-training model that is working based on an innovative, unique concept which learns on its own and constantly enhances its information database with the advantage of unsupervised learning capabilities (the “System”). At closing, in consideration of acquiring the System, the Company shall issue to the Seller 26,000,000 common shares of the Company (the “Shares”).”
Governance Changes
AVAI BIO, INC.: Increased authorized common stock from 255,000,000 to 500,000,000 shares and authorized blank check preferred stock of 20,000,000 shares (effective 2023-03-06).
“On March 6, 2023, Trend Innovations Holding Inc. (the “Company”) filed a Certificate of Amendment to its Articles of Incorporation, as amended, with the Secretary of State of the State of Nevada to increase the number of authorized shares of the Company’s common stock from 255,000,000 to 520,000,000 shares”
Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.