Company: AVNI
Filing Date: 2025-07-17
Form Type: 10-K
Source: 0001713282-25-000574
Chunk: 14

Company: ARVANA INC
Filing Date: 2025-07-17
Form: 10-K
Item: Item 7
Chunk 14
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 year ended December 31, 2024 decreased to $406,236 as compared to $528,513 for the twelve-month period ended December
31, 2023, a decrease of 23.1%. The decrease in operating expenses over the twelve-month period ended December 31, 2024 is attributed
to reductions in auditing expenses as well as general and administrative expenses including stock-based compensation.

We
expect operating expenses to increase in future periods as our business development strategies are implemented while professional fees
for auditing and accounting are expected to increase over the next twelve months.

Other
Income and Expenses

Other
expense for the twelve-month period ended December 31, 2024 was $74,903 as compared to other expense of $829,651 for the twelve-month
period ended December 31, 2023, a decrease of 91.0%. The reduction in other expense over the comparative periods can be primarily
attributed to the loss recognized in 2023 on the acquisition of Down2Fish.

We
expect other expense to decrease over future periods as debt instruments tied to the fishing charter vessels are satisfied.

Net
Loss

Net
loss for the year ended December 31, 2024 was $447,495 as compared to a net loss of $1,316,573 for the year ended December 31, 2023,
a decrease of 66.0%. The decrease in net loss in the current year over the prior comparable period can be primarily attributed
to the loss recognized on the asset purchase of Down2Fish. We expect to continue to realize net losses from operations over the next
twelve months as management works to implement its business model.

Capital
Expenditures

Capital
expenditures during the year ended December 31, 2024 consisted of $25,000 for website development costs. Capital expenditures during
the year ended December 31, 2023 consisted of the property and equipment acquired as part of Down2Fish.

Liquidity
and Capital Resources

Since
inception, Arvana has experienced significant changes in liquidity, capital resources, and stockholders’ deficit.

We
had current assets of $18,393 as of December 31, 2024 consisting solely of cash as compared to $27,171 as of December 31, 2023
consisting of cash and a bond. Total assets were $202,176 as of December 31, 2024 consisting of current assets, property, equipment,
and intangible