Company: AVNI
Filing Date: 2025-07-15
Form Type: 10-Q/A
Source: 0001713282-25-000561
Chunk: 9

Company: ARVANA INC
Filing Date: 2025-07-15
Form: 10-Q/A
Chunk 9
---
| Note payable to a related party, bearing no interest, matures December 31, 2025, unsecured.                                                    |               |   |    26,000 |   |              |   |    26,000 |   |
| Total Notes Payable                                                                                                                            |               |   | 1,244,872 |   |              |   | 1,031,626 |   |
| Less: Current Portion of Notes Payable                                                                                                         |               |   |   (16,244 | ) |              |   |   (79,438 | ) |
| Less: Current Portion of Related-Party Notes Payable                                                                                           |               |   |  (700,000 | ) |              |   |  (112,000 | ) |
| Notes Payable, Net of Current Portion                                                                                                          |               | $ |   528,628 |   |              | $ |   840,188 |   |

13

Note 7 – Notes Payable– ( continued)

Principal maturities of notes payable are as follows:

| Schedule of principal maturities of notes payable 
 Year                                              |     | Amount |           |
|:--------------------------------------------------|:----|:-------|----------:|
| Remainder of 2024                                 |     | $      |     6,944 |
| 2025                                              |     |        |   773,159 |
| 2026                                              |     |        |   358,199 |
| 2027                                              |     |        |     7,120 |
| 2028                                              |     |        |     7,597 |
| Thereafter                                        |     |        |    91,853 |
| Total                                             |     | $      | 1,244,872 |

Note 8 – Related-Party Transactions and Notes Payable to Stockholders

Effective September 1, 2022, the Company signed an employment agreement with its Chief Executive Officer at the time for $ 90,000per year plus incentive stock options until year-end December 31, 2022, and thereafter for $ 120,000per year over the term. In July, 2024 the Board of Directors terminated the CEO’s employment for cause and then appointed a new CEO on July 17, 2024. The new CEO’s compensation is $ 60,000per year beginning in July of 2024. At September 30, 2024 and December 31