Company: AVNI
Filing Date: 2025-07-15
Form Type: 10-Q/A
Source: 0001713282-25-000560
Chunk: 22

Company: ARVANA INC
Filing Date: 2025-07-15
Form: 10-Q/A
Chunk 22
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 to $269,037 for the six months ended June 30, 2023, a decrease of 3.36%. Operating expenses were $146,111 for the three months ended June 30, 2024, compared to $114,545 for the three months ended June 30, 2023, an increase of 27.56%. The changes in operating expenses over the comparative periods were attributed to variations in 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.

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Other Income and Expenses

Other income and expenses resulted in a net expense of $36,371 for the six months ended June 30, 2024, compared to $798,170 for the six months ended June 30, 2023. Other income and expenses resulted in a net expense of $19,172 for the three months ended June 30, 2024, compared to $16,522 for the three months ended June 30, 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.

Net Loss

Net loss was $276,936 for the six months ended June 30, 2024, compared to $1,042,669 for the six months ended June 30, 2023, a decrease of 73.34%. Net loss was $153,222 for the three months ended June 30, 2024, compared to $114,269 for the three months ended June 30, 2023, an increase of 34.01%. 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 in the following twelve months as management continues to work on implementing the Company’s business model.

Capital Expenditures

Capital expenditures during the six months ended June 30, 2024 consisted of $25,000 for website development costs. Capital expenditures during the six months ended June