Company: AVNI
Filing Date: 2025-07-15
Form Type: 10-Q/A
Source: 0001713282-25-000560
Chunk: 15

Company: ARVANA INC
Filing Date: 2025-07-15
Form: 10-Q/A
Chunk 15
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 (1,132,102 | ) |     |             |    19,694 |   |     |          |  (1,112,408 | ) |
| Total Liabilities and Stockholders' Deficit                      |     | $                   |     197,282 |   |     | $           |    22,513 |   |     | $        |     219,795 |   |

| 21 |

Note 12 – Restatements– ( continued)

Restatements to Condensed Consolidated Statements of Operations

The Condensed Consolidated Statements of Operations for the Three and Six Months Ended June 30, 2024 were restated. The tables included in the following pages show the effects of the restatements for both periods, which include the following significant items for the three and six months ended June 30, 2024:

| • | Lease                                                                                              
 Revenue, as included in Gross Profit, was increased by $12,000 and $24,000 to report $12,000       
 and $24,000 for the three-and-six-month periods. Lease Income, as included in Other Income         
 and Expenses, was decreased by $12,000 and $24,000 to report $0 and $0 for the three-and-six-month 
 periods. This reclassification was done after determining the lease of the Company’s               
 marine equipment is a significant component of the Company’s business operations; therefore,       
 proceeds from the lease are reflected as Lease Revenue included in Gross Profit instead of         
 as Lease Income included in Other Income and Expenses.                                             |

| • | Previously,                                                                                         
 Cost of Sales was included in Operating Expenses on the statement of operations. Cost of            
 Sales was relabeled Cost of Services to conform to industry standards, and then it was reclassified 
 for inclusion in Gross Profit. This reclassification was done to bring presentation on the          
 statement of operations in line with industry standards and reports for subsequent quarters.        
 Cost of Services was decreased by $1,992 to report $13,769 for the three-month period and           
 increased by $2,629 to report $18,390 for the six-month period.                                     |

| • | Gross                                                                                         
 Profit was decreased by $1,769 to report $12,061 for the three-month period and increased     
 by $5,610 to report $19,440 for the six-month period as a result of the changes listed above. |

| • | Amortization                                                                                       
 Expense was increased by $1,250