Company: AVNI
Filing Date: 2025-07-17
Form Type: 10-K
Source: 0001713282-25-000574
Chunk: 36

Company: ARVANA INC
Filing Date: 2025-07-17
Form: 10-K
Item: Item 9
Chunk 36
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 bifurcate the duties of
each office is a material weakness that could impact financial reporting. Management has concluded, in light of this material weakness,
that internal control over financial reporting was not effective as of the end of the fiscal year covered by this report. Management
believes this material weakness affected our financial results in prior reporting periods, believes this weakness could result in a material
misstatement of our financial statements in future periods that might not be prevented or detected in a timely manner. As a result, the
Board of Directors appointed Andrew E. Morrison as the new Chief Financial Officer on May 20, 2025 to assist the chief executive officer
in implementing the rest of Arvana’s remediation plans to address the weaknesses identified in the Company’s system of internal
controls over financial reporting.

Changes
in Internal Control over Financial Reporting

There
were no changes in the Company’s internal control over financial reporting (as defined in Rule 13a-15(f) of the Exchange Act) during
the three months ended December 31, 2024, that materially affected, or are reasonably likely to materially affect, the Company’s
internal control over financial reporting.

However,
as disclosed above, subsequent to the end of the reporting period, the Company began implementing remedial measures to address the identified
control deficiencies. These measures include:

  Hiring                                                                            

  Enhancing                                                                             

  Improving                                                                  

  Increasing                                                                         

  Hiring                                                                                           

Management
will continue to monitor the effectiveness of these remediation efforts and will make further changes as necessary to ensure internal
control over financial reporting is effective in future periods.

Attestation
Report of the Registered Public Accounting Firm

Our
annual report does not include an attestation report of Arvana’s independent registered public accounting firm regarding internal
control over financial reporting. We were not required to have, nor have we, engaged our independent registered public accounting firm
to perform an audit of internal control over financial reporting pursuant to the rules of the Commission that permit us to provide only
management’s report in this annual report.

ITEM
9B. OTHER INFORMATION