Company: AVNI
Filing Date: 2025-07-15
Form Type: 10-Q/A
Source: 0001713282-25-000560
Chunk: 26

Company: ARVANA INC
Filing Date: 2025-07-15
Form: 10-Q/A
Chunk 26
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 15d-15(e) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) as of June 30, 2024.

Disclosure controls and procedures are designed to ensure that information required to be disclosed in reports filed or submitted under the Exchange Act is recorded, processed, summarized, and reported within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to management, including the Chief Executive Officer and the Chief Financial Officer, to allow timely decisions regarding required disclosures.

Based on this evaluation, management concluded that the Company’s disclosure controls and procedures were not effective as of June 30, 2024, due to material weaknesses in internal controls related to the application of certain accounting policies, including the capitalization of website development costs, accrual of professional fees, and accounting for stock-based compensation. These material weaknesses resulted in the restatement of the Company’s previously filed financial statements.

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To support the implementation of remedial actions and strengthen the Company’s financial reporting process, the Board of Directors appointed a new Chief Financial Officer on May 20, 2025.

Changes in Internal Control over Financial Reporting

There were no changes in the Company’s internal control over financial reporting (as defined in Rule 13a-15(f) of the Exchange Act) during the three months ended June 30, 2024, that materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.

However, as disclosed above, subsequent to the end of the reporting period, the Company began implementing remedial measures to address the identified control deficiencies. These measures include:

| • | Hiring                                                                           
 a new Chief Financial Officer to oversee the implementation of remedial actions; |

| • | Enhancing                                                                            
 internal review and approval processes for accounting estimates and journal entries; |

| • | Improving                                                                     
 documentation and evaluation of complex or judgmental accounting matters; and |

| • | Increasing                                                                    
 oversight over third-party service providers involved in financial reporting. |

Management will continue to monitor the effectiveness of these remediation efforts and will make further changes as necessary to ensure internal control over financial reporting is effective in future periods.

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<div align='center'>PART II</div>

| ITEM 1. | LEGAL       
 PROCEEDINGS |

None.

| ITEM 1A. | RISK    
 FACTORS |

Not required of smaller reporting companies.

| ITEM 2. | UNREGISTERED                                   
 SALES