Company: AVNI
Filing Date: 2025-08-15
Form Type: 10-Q
Source: 0001713282-25-000654
Chunk: 5

Company: ARVANA INC
Filing Date: 2025-08-15
Form: 10-Q
Item: Item 1
Chunk 5
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 income statement. The measure of segment assets is reported on the balance sheet as total assets.
Reclassifications
 
Certain prior-period amounts have been reclassified within cash flows from financing activities to conform to the current-period presentation, with no impact on total net cash provided by (used in) financing activities, total cash flows, or the Company’s results of operations or financial position.
 
 13

Note 2 – Summary of Significant Accounting Policies – (continued)
 
Recently Issued Accounting Pronouncements 
 
In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The amendments require disclosure of significant segment expenses that are regularly provided to the CODM and included in each reported measure of segment profit or loss. The amendments also require disclosure of all other segment items by reportable segment, the title and position of the CODM, and how the CODM uses the reported measures in assessing segment performance and allocating resources. These disclosures are required for both interim and annual periods and apply to all public entities, including those with a single reportable segment.
 
The Company adopted ASU 2023-07 for the year ended December 31, 2025, applying the amendments retrospectively to all periods presented. The adoption of this ASU did not have a material impact on the Company’s financial statements as the Company operates as a single reportable segment and the effect was limited to enhanced disclosures.
 
Management has reviewed recently issued accounting pronouncements not yet adopted by the Company and determined there are none, that are expected to have a material effect on the Company’s financial statements.
  
Note 3 – Going Concern
 
The Company incurred a net loss of $488,006 for the six months ended June 30, 2025. The Company had a working capital deficit of $1,513,110 and an accumulated deficit of $38,515,457 as of June 30, 2025. The Company has incurred significant losses since inception and will require additional funding from external sources to further implement its business development strategy. Currently, the Company has no firm commitments for such funding. These factors raise substantial doubt about the Company’s ability to continue as a going concern for a period of one year from the date these consolidated financial statements are issued. The accompanying financial statements do not include any adjustments relating to the recoverability or classification of recorded assets or liabilities that may result from this uncertainty.