Company: AVNI
Filing Date: 2025-08-15
Form Type: 10-Q
Source: 0001713282-25-000654
Chunk: 7

Company: ARVANA INC
Filing Date: 2025-08-15
Form: 10-Q
Item: Item 1
Chunk 7
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 Leases (Company as Lessor)
 
The Company leases marine equipment to a related party in an operating lease arrangement. The lease commenced on January 1, 2023 and ends December 31, 2025. The agreement provides for fixed minimum monthly lease payments of $4,000 for the term of the agreement. At the end of the term any additional lease payment due will be calculated and paid. The lessee’s right to use the marine equipment is limited to periods when the equipment is not in use by the Company. There is no option to purchase the equipment as part of the agreement, and the Company expects to recoup the full value of the equipment upon its eventual sale. The Company manages risk by requiring the lessee to indemnify the Company in the event of loss to property or persons.
 
Lease revenue was $12,000 for the three months ended June 30, 2025 and 2024. Lease revenue was $24,000 for the six months ended June 30, 2025 and 2024. Future lease payments expected to be received under this related-party lease are $28,000 for the remainder of 2025.
 
 15

Note 7 – Notes Payable
 
Notes payable are as follows: 
 
                                                                                         Schedule of notes payable                                                                                                                                                
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                              June 30,                December 31,
                                                                                                                                                                                                               2025                      2024                     
Note payable to a bank, interest at 6.75%, due in monthly installments of principal and interest, matures August 15, 2039, secured by a boat.                                                                            $116,381                  $119,452       
Note payable to a bank, interest at 7.49%, due in monthly installments of principal and interest, matures March 15, 2037, secured by a boat. This note was repaid in full during the second quarter of 2025.                    —                     7,832       
Total Third-Party Notes Payable                                                                                                                                                                                           116,381                   127,284       
Less: Current Portion Third-Party Notes Payable                                                                                                                                                                            (6,436    )              (12,515      )
Total Long-Term Liabilities                                                                                                                                                                                              $109,945                  $114,769       
   
Principal maturities of notes payable are as follows:
 

Schedule of principal maturities of notes payable                          
---------------------------------------------------------------------------
Year                                                                 Amount
Remainder of 2025                                               $3,154     
2026                                                             6