Company: AVNI
Filing Date: 2025-07-15
Form Type: 10-Q/A
Source: 0001713282-25-000559
Chunk: 26

Company: ARVANA INC
Filing Date: 2025-07-15
Form: 10-Q/A
Chunk 26
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,518 as of March 31, 2023 and $216,549 as of December 31, 2023.

The Company had current liabilities of $159,226 as of March 31, 2024 consisting of accounts payable, deferred revenue, related-party payables, and the current portion of long-term debt, compared to current liabilities of $112,005 as of March 31, 2023 and to $338,487 as of December 31, 2023, with a similar composition. Total liabilities were $1,344,072 as of March 31, 2024, consisting of current liabilities and notes payable net of current portion, compared to $1,004,989 as of March 31, 2023 and to $1,178,675 as of December 31, 2023. The decrease in current liabilities in the three months ended March 31, 2024 was attributed primarily to payments of related-party notes payable and the reclassification of the current portion of notes payable back to long-term liabilities due to the renegotiation of the maturity dates of certain promissory notes subsequent to the issuance of the previous financial statements.

The Company had a working capital deficit of $20,333 as of March 31, 2024, compared to $55,343 as of March 31, 2023, and to $311,316 as of December 31, 2023. The fluctuation in these deficits was primarily attributed to the transition of long-term debt to current liabilities as notes payable reached their maturity dates and were paid off using funds received from the issuance of new related-party notes payable.

Stockholders’ deficit was $1,022,513 as of March 31, 2024, compared to $749,471 as of March 31, 2023, and to $962,126 as of December 31, 2023. The stockholders’ deficit has continued to increase as the Company incurs professional fees and other expenses related to developing management’s business plans.

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Cash Flows from Operating Activities

Net cash used in operating activities was $67,619 for the three months ended March 31, 2024, compared to $44,115 for the three months ended March 31, 2023. Non-cash items impacting net cash used in operating activities included depreciation, stock-based compensation, and net loss on asset acquisition. In addition, changes in balance sheet accounts—such as current assets, accounts payable