Company: AWX
Filing Date: 2025-03-21
Form Type: DEF 14A
Source: 0001437749-25-008670
Chunk: 18

Company: AVALON HOLDINGS CORP
Filing Date: 2025-03-21
Form: DEF 14A
Chunk 18
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 $99,000 in Avalon Med Spa, LLC. Mr. Gramley’s investment represents less than 10% of the total investment in Avalon Med Spa, LLC.

Avalon Dermatology, LLC

In March 2024, Avalon created a new Ohio limited liability company, Avalon Dermatology, LLC. Avalon Dermatology, LLC, located in Warren, Ohio, provides dermatology services provided by a board licensed dermatologist. Avalon operates and manages all decisions regarding the dermatology operation for a percentage of the gross revenues. An outside director of Avalon, who qualified as an accredited investor maintains 49.9% of the total ownership in Avalon Dermatology, LLC. Avalon is the majority owner of Avalon Dermatology, LLC owning 50.1% of the company. The financial statements of Avalon Dermatology, LLC are included in Avalon’s consolidated financial statements.

INDEPENDENT PUBLIC ACCOUNTANTS

The appointment of an independent public registered public accounting firm is approved annually by the Board of Directors based on the recommendation of the Audit Committee. Grant Thornton LLP (“Grant Thornton”) has served as the independent public accountant of the Company since 2019. Representatives of Grant Thornton will be present at the Annual Meeting of Shareholders and will be given an opportunity to make a statement if they desire to do so and will respond to appropriate questions from shareholders.

The aggregate fees billed to the Company for the years ended December 31, 2024 and 2023 by Grant Thornton are as follows:

|                    |     |   |    2024 |     |   |    2023 |
|:-------------------|:----|:--|--------:|:----|:--|--------:|
| Audit fees         |     | $ | 173,744 |     | $ | 165,008 |
| Audit-related fees |     |   |       - |     |   |  12,938 |
| All other fees     |     |   |       - |     |   |  21,735 |

The amount shown for “Audit fees” consists of fees relating to the audit of the Company’s financial statements and quarterly reviews of the unaudited interim financial statements. In 2023, the amount shown for “audit-related fees” relate to the audit of the Company’s 401(k) profit sharing plan. A 401(k) profit sharing audit was not required and not performed in 2024. In 2023, the amount shown