Company: AVNI
Filing Date: 2025-07-17
Form Type: 10-K
Source: 0001713282-25-000574
Chunk: 13

Company: ARVANA INC
Filing Date: 2025-07-17
Form: 10-K
Item: Item 7
Chunk 13
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 malls, outlet locations, and big bog stores
throughout the United States to attract new tenants from targeted industries that offer goods or services that are not available online.
The parties have ended their discussions of the proposed transaction, and management is evaluating alternative options for pursuing this
business model.

Results
of Operations

During
the year ended December 31, 2023 Arvana purchased Down2Fish as a wholly owned subsidiary, raised capital to sustain operations, evaluated
other business opportunities, and offered charter fishing services.

Charter
fishing services were curtailed in the third quarter of 2023 and halted in the fourth quarter of 2023, due to necessary repairs to both
of our vessels under their respective warranties.

Our
results of operations for the year ended December 31, 2024 as compared to the year ended December 31, 2023 were as follows below:

                                 Year Ended                                                                      
                                 December 31,                                                                    
                                 2024                            2023                      Change                
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Total Revenue                  $                   67,964      $             68,276      $               (312  
  Cost of Services                                   34,320                    26,685                     7,635  
  Gross Profit                                       33,644                    41,591                    (7,947  
  Operating Expenses                                406,236                   528,513                  (122,277  
  Operating Loss                                   (372,592                  (486,922                   114,330  
  Other Income and Expenses                         (74,903                  (829,651                   754,748  
  Net Loss                       $                 (447,495      $         (1,316,573      $            869,078  

Revenue

Charter
revenue from operations was $67,964 for the year ended December 31, 2024 as compared to $68,276 for the twelve-month period ended December
31, 2023, a decrease of 0.5%. The decrease in revenue in the current year is attributed to complications arising due to the hurricanes
occurring in the second half of 2024. Revenue results for the current year were hampered by necessary repairs to both of our fishing
charter vessels.

We
expect charter revenue from operations to increase over the next twelve months as both of our fishing charter vessels return to active
service.

Operating
Expenses

Operating
expenses for the