Company: AVNI
Filing Date: 2025-07-17
Form Type: 10-K
Source: 0001713282-25-000574
Chunk: 19

Company: ARVANA INC
Filing Date: 2025-07-17
Form: 10-K
Item: Item 8
Chunk 19
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ITEM
8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

Our
audited financial statements for the year ended December 31, 2024, as set forth below, are included with this Annual Report on Form 10-K.
Our audited financial statements are prepared on the basis of accounting principles generally accepted in the United States and are expressed
in U. S. dollars.

MICHAEL
GILLESPIE & ASSOCIATES, PLLC

CERTIFIED
PUBLIC ACCOUNTANTS

Vancouver,
WA 98666

206.353.5736

REPORT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To
the Shareholders, Board of Directors & Shareholders

Arvana
Inc.

Opinion
on the Financial Statements

We
have audited the accompanying consolidated balance sheets of Arvana Inc. as of December 31, 2024 and the related statements of operations,
changes in stockholders’ deficit, cash flows, and the related notes (collectively referred to as “financial statements”)
for the year then ended. In our opinion, the financial statements present fairly, in all material respects, the financial position of
the Company as of December 31, 2024 and the results of its operations and its cash flows for the year December 31, 2024 in conformity
with accounting principles generally accepted in the United States of America.

Going
Concern

The
accompanying financial statements have been prepared assuming the Company will continue as a going concern. As discussed in Note #2 to
the financial statements, although the Company has limited operations and it has yet to attain profitability. This raises substantial
doubt about its ability to continue as a going concern. Management’s plan in regard to these matters is also described in Note
#2. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Basis
for Opinion

These
financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s
financial statements based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board
(United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U. S. federal securities
laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We
conducted our audits in accordance with the standards of the PCAOB. Those standards require that we