{"url_path":"/sec/avai/10-k/2026/item-13","section_key":"item-13","section_title":"Item 13 Certain Relationships and Related Transactions, and Director","topic":"sec","document":{"doc_type":"10-K","doc_date":"2026-07-14","source_url":"https://www.sec.gov/Archives/edgar/data/1740797/0001740797-26-000017-index.html","accession_number":"0001740797-26-000017","cik":"0001740797","ticker":"AVAI","issuer_name":"AVAI BIO, INC.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1740797/0001740797-26-000017-index.html","primary_entity_key":"0001740797","primary_entity_name":"AVAI BIO, INC."},"word_count":321,"has_tables":true,"body_markdown":"**Item 13. Certain Relationships and Related Transactions, and Director\nIndependence.**\n\n** **\n\nThe following is a summary of transactions for the\nyear ended March 31, 2026, to which we were or are a party in which the amount involved exceeded $120,000, and in which any related person\nhad or will have a direct or indirect material interest:\n\n \n\nAs of March 31, 2026, our shareholder, IGOR 1 CORP,\nhas loaned to the Company $471,529, of which $388,581 was advanced to the Company for the Company's operating expenses and $47,689 was\nrepaid during the year ended March 31, 2026. This loan is unsecured, non-interest bearing and due on demand.\n\n \n\nDuring the year ended March 31, 2020, the Company’s\nsubsidiary, Thynews Tech LLC, received advances from its former president, Andrii Kokliushyn, totaling $124,590. The advances were interest-free\nand due on demand. As of March 30, 2026, the Company had accrued interest on the related party loan in the amount of $24,918. On March\n30, 2026, the Company issued 12,459,000 shares of its common stock in full settlement of the related party loan, including accrued interest,\ntotaling $149,508, to Andrii Kokliushyn. The related party loan was extinguished in full upon issuance of the shares.\n\n \n\nAs of March 31, 2026, our directors and officers had\nloaned to the Company totaling $744,420 to provide working capital for its business operations.\n\n \n\n**Procedures for Approval of Related Party Transactions**\n\n \n\nOur Board of Directors is in charged with reviewing\nand approving all potential related party transactions. All such related party transactions must then be reported under applicable SEC\nrules. We have not adopted other procedures for review, or standards for approval, of such transactions, but instead review them on a\ncase-by-case basis.\n\n \n\n51\n\n \n\n \n\n**Director Independence**\n\n \n\nThe Company has no outside directors as of March 31,\n2026.\n\n \n\nThere are no promoters of the company, and have been\nnone, as defined in Item 404(c)(1)(i) of Regulation S-K, other than the Company’s directors and officers."}