Company: AVNI
Filing Date: 2025-07-17
Form Type: 10-K
Source: 0001713282-25-000574
Chunk: 26

Company: ARVANA INC
Filing Date: 2025-07-17
Form: 10-K
Item: Item 8
Chunk 26
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 new management in 2024, and were done solely to enhance comparability to the current year. These reclassifications are not corrections of errors, and they had no impact on net loss, total assets, or total liabilities for the period presented.

To conform with the current year presentation on the statement of cash flows, the Company reclassified $ 38,100 related to the change in related-party payables from financing activities to operating activities for the year ended December 31, 2023. This reclassification had no impact on the net change in cash or the ending balance of cash and cash equivalents for the period presented.

Note
2 - Going Concern

The
Company incurred net losses of $ 447,495and $ 1,316,573 for the years ended December 31, 2024 and 2023. The Company
had a working capital deficit of $ 988,373 and
an accumulated deficit of $ 38,027,451 as of December 31, 2024. The Company has incurred significant
losses since inception and will require additional funding from external sources to further implement its business development strategy.
Currently, the Company has no firm commitments for such funding. These factors raise substantial doubt about the Company’s ability
to continue as a going concern for a period of one year from the date these consolidated financial statements are issued. The accompanying
financial statements do not include any adjustments relating to the recoverability or classification of recorded assets or liabilities
that may result from this uncertainty in the ability of the Company to continue as a going concern.

Note
3 - Asset Acquisition

On
February 3, 2023 (Closing Date), the company acquired the assets and assumed the liabilities of Down 2 Fish Charters, LLC (D2F), a limited
liability company organized under the laws of Florida, which operates a charter fishing business. On the Closing Date, the Company paid
$ 50,000 in cash and issued a note for $ 700,000 for total consideration of $ 750,000.
The Company’s consolidated statements of operations from the Closing Date through December 31, 2023 indicate a net loss of $ 1,316,573.

Assets
acquired and liabilities assumed were recorded at their estimated fair values as of the Closing Date under the acquisition method of
accounting. The estimated fair values of certain assets and liabilities including long-lived assets require judgment and assumptions.
Adjustments may be made to these estimates during the measurement period and those adjustments could