Company: AVNI
Filing Date: 2025-07-15
Form Type: 10-Q/A
Source: 0001713282-25-000560
Chunk: 23

Company: ARVANA INC
Filing Date: 2025-07-15
Form: 10-Q/A
Chunk 23
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30, 2023 consisted of the property and equipment acquired as part of Down2Fish.

Liquidity and Capital Resources

Since inception, the Company has experienced significant changes in liquidity, capital structure, and stockholders’ deficit.

The Company had current assets of $20,090 as of June 30, 2024, consisting of cash and a bond, compared to $23,751 as of June 30, 2023 and $27,171 as of December 31, 2023, with a similar asset composition. Total assets were $219,795 as of June 30, 2024, including current assets, property and equipment, and intangible assets, compared to $216,756 as of June 30, 2023 and $216,549 as of December 31, 2023.

The Company had current liabilities of $800,438 as of June 30, 2024 consisting of accounts payable, deferred revenue, related-party payables, and the current portion of long-term debt, compared to current liabilities of $130,363 as of June 30, 2023 and to $338,487 as of December 31, 2023, with a similar composition. Total liabilities were $1,332,203 as of June 30, 2024, consisting of current liabilities and notes payable net of current portion, compared to $1,018,008 as of June 30, 2023 and to $1,178,675 as of December 31, 2023. The decrease in current liabilities in the six months ended June 30, 2024 was attributed primarily to payments of related-party notes payable and the reclassification of the current portion of notes payable back to long-term liabilities due to the renegotiation of the maturity dates of certain promissory notes subsequent to the issuance of the previous financial statements.

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The Company had a working capital deficit of $80,348 as of June 30, 2024, compared to $106,612 as of June 30, 2023, and to $311,316 as of December 31, 2023. The fluctuation in these deficits was primarily attributed to the transition of long-term debt to current liabilities as notes payable reached their maturity dates and were paid off using funds received from the issuance of new related-party notes payable.

Stockholders’ deficit was $1,112,408 as of June 30, 2024, compared to $801,252