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

Company: ARVANA INC
Filing Date: 2025-07-15
Form: 10-Q/A
Chunk 10
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, 2023, accrued payroll of $ 0and $ 30,000is included in related-party payables.

During the year ended December 31, 2022, the Company issued 600,000shares of common stock at a price of $ 0.067with a fair value of $ 40,000to settle $ 40,000in accounts payable owed to a company controlled by the Company’s Chief Executive Officer at the time. No gain or loss was recognized on the settlement, and no share-issuance costs were incurred.

At September 30, 2024 and December 31, 2023, the Company included $ 1,200and $ 1,200in related-party payables for accrued fees owed to board members for services rendered.

At September 30, 2024 and December 31, 2023, the Company owed $ 0and $ 15,000to a company controlled by a related party for website creation, website development, and web hosting services. These amounts are included in related-party payables.

During the nine months ended September 30, 2024 and the year ended December 31, 2023, the Company recorded stock-based compensation of $ 112,854and $ 249,952for the grant of stock options to its Chief Executive Officer, board members, and other parties. See Note 10 for more information.

During the nine months ended September 30, 2024 and the year ended December 31, 2023, the Company has repaid non-interest-bearing notes payable to related parties totaling $ 132,000and $ 0which were due at various dates between May 30, 2024 and January 15, 2025.

The Company has an interest-bearing note payable to a related party for $ 300,000with an original due date of February 22, 2025 which has been extended, by mutual agreement, to January 31, 2026.

The Company has a non-interest-bearing note payable to a related party for $ 50,000with an original due date of April 23, 2025 which has been extended, by mutual agreement, to January 31, 2026.

14

Note 8 – Related-Party Transactions and Notes Payable to Stockholders– ( continued)

On April 4, 2024, the Company paid the annual interest payment due to the seller of Down2Fish in connection with the note payable related to the