Company: AVNI
Filing Date: 2025-07-17
Form Type: 10-Q
Source: 0001713282-25-000578
Chunk: 5

Company: ARVANA INC
Filing Date: 2025-07-17
Form: 10-Q
Item: Item 1
Chunk 5
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     )               (760,644      )
Notes Payable, Net of Current Portion                                                                                                                         $111,579                     $464,769       
    
Principal maturities of notes payable are as follows:
 

Schedule of principal maturities of notes payable                            
-----------------------------------------------------------------------------
Year                                                                   Amount
Remainder of 2025                                               $770,164     
2026                                                             356,605     
2027                                                               7,120     
2028                                                               7,597     
2029                                                               8,145     
Thereafter                                                        83,708     
Total                                                         $1,233,339     
  
 12

Note 8 – Related-Party Transactions and Notes Payable to Stockholders
 
The Company had an employment agreement with its former Chief Executive Officer for a salary of $120,000 per year plus incentive stock options. On July 17, 2024 the Board of Directors terminated the former CEO’s employment for cause and appointed a new Chief Executive Officer on July 17, 2024. The new CEO’s compensation is $60,000 per year beginning in July of 2024.
 
At March 31, 2025 and December 31, 2024, the Company included $1,600 and $1,400 in related-party payables for accrued fees owed to board members for services rendered.
 
During the three months ended March 31, 2025 and the year ended December 31, 2024, the Company recorded stock-based compensation of $44,806 and $158,655 for the grant of stock options to its former Chief Executive Officer, board members, and other parties. See Note 10 for more information.
 
During the three months ended March 31, 2025 and the year ended December 31, 2024, the Company has repaid non-interest-bearing notes payable to related parties totaling $0 and $132,000 which were due at various dates between May 30, 2024 and January 15, 2025.
 
The Company has an interest-bearing note payable to a related party for $300,000 with an original due date of February 22, 2025 which has been extended, by mutual agreement, to January 31, 2026.
 
The Company has a non-interest-bearing note payable to a related party for $50,000 with an original due date of April 23, 2025 which has been extended, by mutual agreement, to January 31, 2026.
 
On April 4