Company: AVNI
Filing Date: 2025-07-17
Form Type: 10-K
Source: 0001713282-25-000574
Chunk: 33

Company: ARVANA INC
Filing Date: 2025-07-17
Form: 10-K
Item: Item 8
Chunk 33
---
 by $ 23,015.
In accordance with ASC 250-10-45-23, the Company has corrected this error by recording an adjustment to retained earnings as of January
1, 2024.

Total
stock-based compensation was $ 158,655and $ 249,952 for the years ended December 31, 2024 and 2023. The Company
will recognize the remaining $152,844 as follows:

  Schedule                                                        
  Year                                       Amount               
  2025                                       $           148,329  
  2026                                                     2,527  
  2027                                                     1,988  
  Total                                      $           152,844  

Note
11 - Subsequent Events

The
Company evaluated subsequent events through the date these financial statements were issued.

On
May 20, 2025, the Board of Directors of the Company appointed Andrew Morrison as a member of the board and as the Company’s Chief
Financial Officer and Treasurer. This appointment was made in connection with a review of certain previously issued financial statements,
including an evaluation of the appropriateness of specific accounting policies and related disclosures. As a result of this evaluation,
the Company has issued restated financial statements for the three months ended March 31, 2024, the three and six months ended June 30,
2024, and the three and nine months ended September 30, 2024. See Note 12 for more information.

Subsequent to the end of the reporting period, the Company executed a series of amendments to promissory notes with various parties
to modify the terms of the notes including extensions of their respective maturity dates. See Note 7 for more information on the amended
maturity dates and Note 8 for more information on the impact of these modifications resulting in the issuance of stock and changes to
the treatment of related-party notes payable.

Note
12 - Restatement of Previously Issued Interim Financial Statements (Unaudited)

During
the year ended December 31, 2024, the Company identified and corrected errors in its previously issued unaudited condensed financial
statements for the quarters ended March 31, 2024, June 30, 2024, and September 30, 2024. These corrections were reflected in the Company’s
amended Forms 10-Q for the applicable periods, each of which was filed prior to the issuance of this Annual Report on Form 10-K.

The
errors primarily related to the capitalization of website