Company: AVNI
Filing Date: 2025-07-17
Form Type: 10-K
Source: 0001713282-25-000574
Chunk: 23

Company: ARVANA INC
Filing Date: 2025-07-17
Form: 10-K
Item: Item 8
Chunk 23
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. (the “ Company”) was incorporated in the State of Nevada on June 16, 1977, as Turinco, Inc. On July 24, 2006, the Company
changed its name to Arvana Inc. to reflect the acquisition of a telecommunications business. The Company discontinued its telecommunications
operations as of December 31, 2009.

On
February 3, 2023, the Company acquired Down 2 Fish Charters, LLC, which was organized in the State of Florida on April 1, 2019. Down2Fish
operates a Florida based fishing charter business offering a range of curated maritime adventures including inshore, offshore, and custom
charters for fishing enthusiasts, nature lovers, and tourists. The business is operated from a private dock in Palmetto, Florida that
services the Tampa Bay area in addition to St Petersburg, Sarasota, Venice, Port Charlotte, and Clearwater. Down2Fish generates its revenue
from the sale and provision of fishing charter services as well as the lease of Down2Fish’s marine equipment.

Basis
of Presentation

The
Company’s fiscal year end is December 31. The accompanying consolidated financial statements of the Company for the years ended
December 31, 2024, and 2023 have been prepared in accordance with accounting principles generally accepted in the United States (“ US
GAAP”) for financial information with the instructions to Form 10-K and Regulation S-K. Results are not necessarily indicative
of results which may be achieved in future periods.

Use
of Estimates

The
preparation of unaudited consolidated financial statements in conformity with U. S. GAAP requires management to make estimates and assumptions
affecting the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the unaudited
consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could
differ from those estimates. These estimates include the recognition and measurement of deferred tax assets and the evaluation of unrecognized
deductible temporary tax differences.

Financial
Instruments

The
Company’s financial instruments consist primarily of cash, a government-issued bond, accounts payable, notes payable to related
parties, other amounts due to related parties, and notes payable to financial institutions. The carrying amounts of cash, the government-issued
bond, accounts payable, and other amounts due to related parties approximate their fair values due to their short-term maturities