Company: AVNI
Filing Date: 2025-07-15
Form Type: 10-Q/A
Source: 0001713282-25-000560
Chunk: 9

Company: ARVANA INC
Filing Date: 2025-07-15
Form: 10-Q/A
Chunk 9
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   773,159 |
| 2026                                              |     |        |   358,199 |
| 2027                                              |     |        |     7,120 |
| 2028                                              |     |        |     7,597 |
| Thereafter                                        |     |        |    91,853 |
| Total                                             |     | $      | 1,248,536 |

Note 8 – Related-Party Transactions and Notes Payable to Stockholders

Effective September 1, 2022, the Company signed an employment agreement with its Chief Executive Officer at the time for $ 90,000per year plus incentive stock options until year-end December 31, 2022, and thereafter for $ 120,000per year over the term. Subsequent to the end of the reporting period, the Board of Directors terminated the CEO’s employment for cause and then appointed a new CEO on July 17, 2024. The new CEO’s compensation is $ 60,000per year beginning in July of 2024. At June 30, 2024 and December 31, 2023, accrued payroll of $ 0and $ 30,000is included in related-party payables.

During the year ended December 31, 2022, the Company issued 600,000shares of common stock at a price of $ 0.067with a fair value of $ 40,000to settle $ 40,000in accounts payable owed to a company controlled by the Company’s Chief Executive Officer at the time. No gain or loss was recognized on the settlement, and no share-issuance costs were incurred.

At June 30, 2024 and December 31, 2023, the Company included $ 600and $ 1,200in related-party payables for accrued fees owed to board members for services rendered.

At June 30, 2024 and December 31, 2023, the Company owed $ 0and $ 15,000to a company controlled by a related party for website creation, website development, and web hosting services. These amounts are included in related-party payables.

During the six months ended June 30, 2024 and the year ended December 31, 2023, the Company recorded stock-based compensation of $ 126,654and $ 249,952for the grant of stock options to its Chief Executive Officer, board members, and other parties. See Note