Company: AVNI
Filing Date: 2025-07-17
Form Type: 10-K
Source: 0001713282-25-000574
Chunk: 12

Company: ARVANA INC
Filing Date: 2025-07-17
Form: 10-K
Item: Item 7
Chunk 12
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ITEM
7. MANAGEMENT’ S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

This Management’s Discussion and Analysis of Financial Condition and Results of Operations Forward-Looking Statements and Factors That May Affect Future Results and Financial Condition

Discussion
and Analysis

Overview

Arvana
acquired Down2Fish on February 3, 2023 as a wholly owned subsidiary. Down2Fish operates a Florida based fishing charter business offering
a range of curated maritime adventures including inshore, offshore, and custom charters for fishing enthusiasts, nature lovers and tourists.
The business is operated from a private dock in Palmetto, Florida that services the Tampa Bay area in addition to St Petersburg, Sarasota,
Venice, Port Charlotte, and Clearwater. Down2Fish generates its revenue from the sale and provision of fishing charter services.

Plan
of Operation

Our
plan of operation is to support the development of our business, and to build on its existing business model. We believe that an expansion
of marketing efforts around Tampa Bay, to offer a wider range of services, such as dolphin tours, will help establish the Down2Fish brand,
attract more customers and increase revenues. Expansion into new service offerings will however require capital sufficient to finance
the purchase of another vessel and additional boating equipment. We believe that dolphin tours can return net revenue on a consistent
basis if we are able to attract sufficient customers to each excursion. We are currently licensed and equipped to carry no more than
six (6) customers on each fishing charter. A vessel designed primarily for dolphin tours can carry from fifty (50) to one hundred (100)
customers. Our primary impediment for equipment procurement and installation is cost. We are presently considering financing options
that might become available to us in the near term but have no assurance that financing options will become available or that if such
did become available, that the financing terms would be tenable for our business. Unless or until we can offer excursions that cater
to a greater number of customers on each excursion, we will continue to focus on offering more fishing charter excursions to build revenue
and improve our results of operations.

While
Arvana operates its fishing charter business it has continued to seek business opportunities in real estate development. On December
12, 2023 Arvana announced a non-binding memorandum of understanding to acquire the business of FirstShot Centers, LLC, a Nevada based
company intent on expanding its specialty use concept to acquire and repurpose vacant shopping