Company: AVNI
Filing Date: 2025-07-15
Form Type: 10-Q/A
Source: 0001713282-25-000559
Chunk: 25

Company: ARVANA INC
Filing Date: 2025-07-15
Form: 10-Q/A
Chunk 25
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 general and administrative expenses including stock-based compensation, executive payroll, accounting fees, and auditing expenses. The Company expects operating expenses to increase in future periods as management’s business development strategies are implemented while accounting and auditing professional fees are expected to increase over the next year.

Other Income and Expenses

Other income and expenses resulted in a net expense of $17,199 for the three months ended March 31, 2024, compared to $781,647 for the three months ended March 31, 2023, and to $15,888 for the three months ended December 31, 2023. The decrease in other income and expenses over the comparative periods was primarily attributed to the loss recognized with the acquisition of Down2Fish. The Company expects to continue to recognize other income and expenses in future periods as debt instruments tied to the fishing charter vessels continue to incur interest.

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Net Loss

Net loss was $123,714 for the three months ended March 31, 2024, compared to $928,400 for the three months ended March 31, 2023, a decrease of 86.7%, and to $153,177 for the three months ended December 31, 2023, a decrease of 19.2%. The change in net loss over the comparative periods was primarily attributed to a decrease in losses from operating expenses and the loss recognized on the asset purchase of Down2Fish, offset by the realization of revenue from charter boat services and the lease of the charter vessels. The Company expects to continue to realize net losses from operations over the next twelve months as management works to implement its business model.

Capital Expenditures

The Company did not make any capital expenditures during the three months ended March 31, 2024. Capital expenditures during the three months ended March 31, 2023 consisted of the property and equipment acquired as part of Down2Fish.

Liquidity and Capital Resources

Since inception, the Company has experienced significant changes in liquidity, capital structure, and stockholders’ deficit.

The Company had current assets of $138,893 as of March 31, 2024, consisting of cash and a bond, compared to $56,662 as of March 31, 2023 and $27,171 as of December 31, 2023, with a similar asset composition. Total assets were $321,560 as of March 31, 2024, including current assets, property and equipment, and intangible assets, compared to $255