Company: AVNI
Filing Date: 2025-07-17
Form Type: 10-Q
Source: 0001713282-25-000578
Chunk: 8

Company: ARVANA INC
Filing Date: 2025-07-17
Form: 10-Q
Item: Item 1
Chunk 8
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Note 10 – Stock Options – (continued)
 
Stock-based compensation was $44,806 and $63,327 for the three months ended March 31, 2025 and 2024. The Company will recognize the remaining $108,038 as follows:
   
Schedule of remaining share-based compensation                         
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Year                                                             Amount
Remainder of 2025                                         $103,523     
2026                                                         2,527     
2027                                                         1,988     
Total                                                     $108,038     
Note 11 – Subsequent Events
 
The Company evaluated subsequent events through the date these restated financial statements were issued.
 
On May 20, 2025, the Board of Directors of the Company appointed Andrew Morrison as a member of the board and as the Company’s Chief Financial Officer and Treasurer. This appointment was made in connection with a review of certain previously issued financial statements, including an evaluation of the appropriateness of specific accounting policies and related disclosures. As a result of this evaluation, the Company has issued the accompanying restated financial statements and intends to issue restated financial statements for the six months ended June 30, 2024 and 2023, and for the nine months ended September 30, 2024 and 2023. See Note 12 for more information on the restatements.
 
Subsequent to the end of the period, the Company executed a series of amendments to promissory notes with various parties to modify the terms of the notes including extensions of their respective maturity dates. See Note 7 for more information on the amended maturity dates and Note 8 for more information on the impact of these modifications resulting in the issuance of stock and changes to the treatment of related-party notes payable.
 

15

ITEM 1.      LEGAL   
          PROCEEDINGS
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None.