Company: AVNI
Filing Date: 2025-08-15
Form Type: 10-Q
Source: 0001713282-25-000654
Chunk: 16

Company: ARVANA INC
Filing Date: 2025-08-15
Form: 10-Q
Item: Item 2
Chunk 16
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 2025, compared to $13,769 for the three months ended June 30, 2024, an increase of 51.0%. Cost of services was comprised of expenses directly related to operating the Company’s marine equipment including direct labor, subcontractor costs, materials, and other costs directly attributable to the delivery of services to customers. The increase in cost of services matches expectations based on the increase in the number of charters booked in the current six-month period compared to the same period of the prior year.
Operating Expenses
 
Operating expenses were $316,768 for the six months ended June 30, 2025, compared to $260,005 for the six months ended June 30, 2024, an increase of 21.8%. Operating expenses were $237,577 for the three months ended June 30, 2025, compared to $146,111 for the three months ended June 30, 2024, an increase of 62.6%. The changes in operating expenses over the comparative periods were attributed to increases in consulting fees, accounting fees, and auditing expenses offset by reductions in general and administrative expenses including stock-based compensation and executive payroll. The Company expects operating expenses to increase in future periods as management’s business development strategies are implemented including increases in professional fees for accounting and auditing services.
Other Income and Expense
 
Other income and expense resulted in a net expense of $218,954 for the six months ended June 30, 2025, compared to $36,371 for the six months ended June 30, 2024. Other income and expenses resulted in a net expense of $203,460 for the three months ended June 30, 2025, compared to $19,172 for the three months ended June 30, 2024. The changes in other income and expense over the comparative periods were attributed to increased interest expense related to capturing $250,000 of a debt discount for a debt modification that was fully amortized during the current year period, partially offset by gain recorded on debt extinguishment. The Company expects to continue to recognize other income and expense in future periods as debt instruments continue to incur interest.
Net Loss
 
Net loss was $488,006 for the six months ended June 30, 2025, compared to $276,936 for the six months ended June 30, 2024, an increase of 76.2%. Net loss was $408,896 for the three months ended June 30, 2025,