Company: AVNI
Filing Date: 2025-07-15
Form Type: 10-Q/A
Source: 0001713282-25-000561
Chunk: 20

Company: ARVANA INC
Filing Date: 2025-07-15
Form: 10-Q/A
Chunk 20
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 stock options. The Company expects operating expenses to increase in future periods as management’s business development strategies are implemented including increases in accounting and auditing fees.

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Other Income and Expenses

Other income and expenses resulted in a net expense of $55,346 for the nine months ended September 30, 2024, compared to $813,763 for the nine months ended September 30, 2023. Other income and expenses resulted in a net expense of $18,975 for the three months ended September 30, 2024, compared to $15,594 for the three months ended September 30, 2023. The changes in other income and expenses over the comparative periods was primarily attributed to the loss recognized with the acquisition of Down2Fish. The Company expects to continue to recognize other income and expenses in future periods as debt instruments tied to the fishing charter vessels continue to incur interest.

Net Loss

Net loss was $336,141 for the nine months ended September 30, 2024, compared to $1,163,396 for the nine months ended September 30, 2023, a decrease of 71.11%. Net loss was $59,205 for the three months ended September 30, 2024, compared to $120,727 for the three months ended September 30, 2023, a decrease of 50.96%. The change in net loss over the comparative periods was primarily attributed to a decrease in losses from operating expenses and the loss recognized on the asset purchase of Down2Fish. The Company expects to continue to realize net losses from operations over the next twelve months as management works to implement its business model.

Capital Expenditures

Capital expenditures during the nine months ended September 30, 2024 consisted of $25,000 for website development costs. Capital expenditures during the nine months ended September 30, 2023 consisted of the property and equipment acquired as part of Down2Fish.

Liquidity and Capital Resources

Since inception, the Company has experienced significant changes in liquidity, capital structure, and stockholders’ deficit.

The Company had current assets of $10,794 as of September 30, 2024, consisting of cash and a bond, compared to $16,386 as of September 30, 2023 and $27,171 as of December 31, 2023, with a similar asset composition. Total assets were $202,538 as of September 30, 2024,