Company: AVNI
Filing Date: 2025-07-15
Form Type: 10-Q/A
Source: 0001713282-25-000559
Chunk: 24

Company: ARVANA INC
Filing Date: 2025-07-15
Form: 10-Q/A
Chunk 24
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 Ended 
 March 31,          
 2024               
 (Unaudited)        |          |   |     | 2023        
 (Unaudited) |          |   |
|:--------------------------|:----|:-------------------|---------:|:--|:----|:------------|---------:|:--|
| Total Revenue             |     | $                  |   12,000 |   |     | $           |    8,000 |   |
| Cost of Services          |     |                    |    4,621 |   |     |             |    6,110 |   |
| Gross Profit              |     |                    |    7,379 |   |     |             |    1,890 |   |
| Operating Expenses        |     |                    |  113,894 |   |     |             |  148,643 |   |
| Operating Loss            |     |                    | (106,515 | ) |     |             | (146,753 | ) |
| Other Income and Expenses |     |                    |  (17,199 |   |     |             | (781,647 | ) |
| Net Loss                  |     | $                  | (123,714 | ) |     | $           | (928,400 | ) |

Revenue

Total revenue from operations was $12,000 for the three months ended March 31, 2024, compared to $8,000 for the three months ended March 31, 2023, an increase of 50%. Revenue was comprised of fishing charter services and lease income from the lease of the Company’s marine equipment. The Company expects charter revenue to rise in the second and third quarters during the peak fishing season, and then taper off in the fourth quarter as the fishing season comes to an end.

Cost of Services

Cost of services for operations was $4,621 for the three months ended March 31, 2024, compared to $6,110 for the three months ended March 31, 2023, a decrease of 24.4%. Cost of services was comprised of expenses directly related to operating the Company’s marine equipment.

Operating Expenses

Operating expenses were $113,894 for the three months ended March 31, 2024, compared to $148,643 for the three months ended March 31, 2023, a decrease of 23.4%. The changes in operating expenses over the comparative periods were attributed to reductions in