Company: AVNI
Filing Date: 2025-07-15
Form Type: 10-Q/A
Source: 0001713282-25-000561
Chunk: 14

Company: ARVANA INC
Filing Date: 2025-07-15
Form: 10-Q/A
Chunk 14
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 November 14, 2023, the date the financial statements were originally issued. The Company is aware of the following subsequent events which would require recognition or disclosure in the financial statements.

The Company received loans from its controlling stockholder in the aggregate amount of $ 22,135.

17

Note 12 – Restatements

Per ASC 250-10, Accounting Changes and Error Corrections,the Company’s condensed consolidated financial statements were restated to include changes and corrections made to reflect accounting principles in accordance with U.S. GAAP. The restated financial statements include the following:

| • | Notes                                          
 to Condensed Consolidated Financial Statements |

Restatements to Condensed Consolidated Balance Sheet

The Condensed Consolidated Balance Sheet as of September 30, 2024 was restated. The Consolidated Balance Sheet as of December 31, 2023 was previously audited, and no changes have been made. The table on the following page shows the effects of the restatements made to the Condensed Consolidated Balance Sheet as of September 30, 2024. The restatements include the following significant items:

| • | Intangible                                                                                
 Assets, Net increased by $22,500 to report $48,500 due to capitalizing $25,000 in website 
 development costs and the associated amortization.                                        |

| • | Accounts                                                                                           
 Payable was decreased by $68,901 to report $43,514. The changes included various corrections       
 to accruals for professional fees and other expenses, reclassification of amounts to related-party 
 payables, and reclassification of $2,301 to a separate line item for other current liabilities     
 to conform with presentation in both prior and future periods.                                     |

| • | Related-Party                                                                                     
 Payables was increased by $96,064 to report $97,264. This includes corrections to the inclusion   
 of interest accrued on related-party notes payable as well as reclassification of amounts         
 owed to entities that became related parties subsequent to the issuance of the previous financial 
 statements.                                                                                       |

| • | Current                                                                                          
 Portion of Notes Payable was decreased by $752,901 to report $16,244. Subsequent to the issuance 
 of the previous financial statements, the parties to various promissory notes mutually agreed    
 to extend the maturity dates and the holders of the notes became related parties. Thus, amounts  
 have been reclassified to the current portion and long-term portion of related-party notes       
 payable for the balance