Company: AVNI
Filing Date: 2025-07-15
Form Type: 10-Q/A
Source: 0001713282-25-000561
Chunk: 19

Company: ARVANA INC
Filing Date: 2025-07-15
Form: 10-Q/A
Chunk 19
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                    | (18,975 | ) |     |             |  (15,594 | ) |     |                   |  (55,346 | ) |     |             |   (813,763 | ) |
| Net Loss                  |     | $                  | (59,205 | ) |     | $           | (120,727 | ) |     | $                 | (336,141 | ) |     | $           | (1,163,396 | ) |

Revenue

Total revenue from operations as $55,964 for the nine months ended September 30, 2024, compared to $55,634 for the nine months ended September 30, 2023, an increase of 0.59%. Total revenue from operations was $18,134 for the three months ended September 30, 2024, compared to $22,580 for the three months ended September 30, 2023, a decrease of 19.69%. Revenue was comprised of fishing charter services and lease income from the lease of the Company’s marine equipment. The Company expects charter revenue to taper off in the fourth quarter as the fishing season comes to an end.

Cost of Services

Cost of services for operations was $26,802 for the nine months ended September 30, 2024, compared to $23,384 for the nine months ended September 30, 2023, an increase of 14.62%. Cost of services for operations was $8,412 for the three months ended September 30, 2024, compared to $14,973 for the three months ended September 30, 2023, a decrease of 43.82%. Cost of services was comprised of expenses directly related to operating the Company’s marine equipment.

Operating Expenses

Operating expenses were $309,957 for the nine months ended September 30, 2024, compared to $381,883 for the nine months ended September 30, 2023, a decrease of 18.83%. Operating expenses were $49,952 for the three months ended September 30, 2024, compared to $112,740 for the three months ended September 30, 2023, a decrease of 55.69%. The changes in operating expenses over the comparative periods were attributed to reductions in general and administrative expenses including stock-based compensation and executive payroll. There was also a significant reduction in general and administrative expenses due to the $59,602 adjustment related to forfeitures of unvested