Company: AVNI
Filing Date: 2025-07-15
Form Type: 10-Q/A
Source: 0001713282-25-000560
Chunk: 24

Company: ARVANA INC
Filing Date: 2025-07-15
Form: 10-Q/A
Chunk 24
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 as of June 30, 2023, and to $962,126 as of December 31, 2023. The stockholders’ deficit has continued to increase as the Company incurs professional fees and other expenses related to developing management’s business plans.

Cash Flows from Operating Activities

Net cash used in operating activities was $207,491 for the six months ended June 30, 2024, compared to $99,290 for the six months ended June 30, 2023. Non-cash items impacting net cash used in operating activities included depreciation, stock-based compensation, and loss on asset purchase. In addition, changes in balance sheet accounts—such as current assets, accounts payable, deferred revenue, and related-party payables—also affected operating cash flow. The Company expects to continue to have net cash flow used in operating activities over the next twelve months or until such time as Down2Fish generates sufficient revenue from operations to sustain the costs of operations.

The Company has no current plans to make any additional changes in the number of employees.

Cash Flows from Investing Activities

Net cash used in investing activities was $25,000 for the six months ended June 30, 2024, compared to $45,911 for the six months ended June 30, 2023. The Company anticipates future needs for cash used in investing activities due to expected investments in the expansion of its fishing charter business. However, as of June 30, 2024, the Company had no formal commitments for capital expenditures.

Cash Flows from Financing Activities

Net cash provided by financing activities was $225,410 for the six months ended June 30, 2024, compared to net cash provided by financing activities of $21,487 for the six months ended June 30, 2023. Net cash provided by financing activities in the six months ended June 30, 2024 was primarily due to funds received from related-party notes payable, partially offset by repayments of existing notes payable and related-party obligations. Net cash provided by financing activities for the six months ended June 30, 2023 was attributed to funds received from notes payable, partially offset by repayments of existing notes payable. The Company expects to continue to use net cash provided by financing activities over the next twelve months generated through additional private equity placements, public offerings, or private debt to fund continued expansion of its business.

The Company’s assets were insufficient as of June 30, 2024 to implement its plan of operation to expand