10-Q Filing

ARVANA INC CIK: 1113313 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001607062-20-000139`
Period End Date	20200331
Filing Date	20200520
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	avni-20200331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 44 Income Statement 18 Cash Flow Statement 40 Stockholders Equity 11

Balance Sheet 44 line items

Line Item	Tag	Value	Unit	Period
Common stock par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash	`Cash`	$19.46K	USD	Point-in-time
Cash	`Cash`	$2.35K	USD	Point-in-time
Common stock shares authorized	`CommonStockSharesAuthorized`	5.00M	shares	Point-in-time
Common stock shares authorized	`CommonStockSharesAuthorized`	5.00M	shares	Point-in-time
Total assets	`Assets`	$19.46K	USD	Point-in-time
Total assets	`Assets`	$2.35K	USD	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	2.01M	shares	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	1.03M	shares	Point-in-time
Common stock outstanding	`CommonStockSharesOutstanding`	2.01M	shares	Point-in-time
Common stock outstanding	`CommonStockSharesOutstanding`	1.03M	shares	Point-in-time
Treasury stock	`TreasuryStockShares`	2,085.00	shares	Point-in-time
Treasury stock	`TreasuryStockShares`	2,085.00	shares	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$930.71K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$974.01K	USD	Point-in-time
Convertible loan	`ConvertibleDebtCurrent`	$107.80K	USD	Point-in-time
Convertible loan	`ConvertibleDebtCurrent`	$107.80K	USD	Point-in-time
Loans payable to stockholders (Note 3)	`OtherLoansPayableCurrent`	$581.38K	USD	Point-in-time
Loans payable to stockholders (Note 3)	`OtherLoansPayableCurrent`	$546.23K	USD	Point-in-time
Loans payable to related party (Note 3)	`LoansPayableRelatedParty`	$130.25K	USD	Point-in-time
Loans payable to related party (Note 3)	`LoansPayableRelatedParty`	$128.46K	USD	Point-in-time
Loans payable (Note 3)	`LoansPayableCurrent`	$84.51K	USD	Point-in-time
Loans payable (Note 3)	`LoansPayableCurrent`	$73.86K	USD	Point-in-time
Amounts due to related parties (Note 7)	`DueToOtherRelatedPartiesClassifiedCurrent`	$326.56K	USD	Point-in-time
Amounts due to related parties (Note 7)	`DueToOtherRelatedPartiesClassifiedCurrent`	$338.11K	USD	Point-in-time
Total current liabilities	`Liabilities`	$2.22M	USD	Point-in-time
Total current liabilities	`Liabilities`	$2.11M	USD	Point-in-time
Common stock, $0.001 par value 5,000,000 authorized, 2,005,070 and 1,034,030 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively	`CommonStockValue`	$1.03K	USD	Point-in-time
Common stock, $0.001 par value 5,000,000 authorized, 2,005,070 and 1,034,030 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively	`CommonStockValue`	$2.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$21.28M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$21.38M	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-23.47M	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-23.49M	USD	Point-in-time
Total Stockholders Deficit Before Treasury Stock	`TotalStockholdersDeficitBeforeTreasuryStock`	$-2.09M	USD	Point-in-time
Total Stockholders Deficit Before Treasury Stock	`TotalStockholdersDeficitBeforeTreasuryStock`	$-2.21M	USD	Point-in-time
Less: Treasury stock a 2,085 common shares at March 31, 2020 and December 31, 2019, respectively	`TreasuryStockValue`	$3.34K	USD	Point-in-time
Less: Treasury stock a 2,085 common shares at March 31, 2020 and December 31, 2019, respectively	`TreasuryStockValue`	$3.34K	USD	Point-in-time
Total stockholders' deficiency	`StockholdersEquity`	$-2.21M	USD	Point-in-time
Total stockholders' deficiency	`StockholdersEquity`	$-2.09M	USD	Point-in-time
Total stockholders' deficiency	`StockholdersEquity`	$-2.36M	USD	Point-in-time
Total stockholders' deficiency	`StockholdersEquity`	$-2.33M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$19.46K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$2.35K	USD	Point-in-time

Income Statement 18 line items

Line Item	Tag	Value	Unit	Period
General and administrative	`GeneralAndAdministrativeExpense`	$11.70K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.61K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$4.72K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$11.74K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$7.33K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$23.44K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-23.44K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-7.33K	USD	1 Quarter
Interest expense	`InterestExpense`	$29.77K	USD	1 Quarter
Interest expense	`InterestExpense`	$13.00K	USD	1 Quarter
Foreign exchange gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-1.77K	USD	1 Quarter
Foreign exchange gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$58.89K	USD	1 Quarter
Net income (loss) and comprehensive income (loss)	`NetIncomeLoss`	$-38.87K	USD	1 Quarter
Net income (loss) and comprehensive income (loss)	`NetIncomeLoss`	$22.46K	USD	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.03M	shares	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.09M	shares	1 Quarter
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.02	USD	1 Quarter
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.04	USD	1 Quarter

Cash Flow Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-38.87K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$22.46K	USD	1 Quarter
Amortization of discount on convertible loan	`AmortizationOfDebtDiscountPremium`	-	USD	1 Quarter
Amortization of discount on convertible loan	`AmortizationOfDebtDiscountPremium`	$14.45K	USD	1 Quarter
Interest expense	`InterestExpense`	$29.77K	USD	1 Quarter
Interest expense	`InterestExpense`	$13.00K	USD	1 Quarter
Unrealized foreign exchange	`ForeignCurrencyTransactionGainLossUnrealized`	$-58.62K	USD	1 Quarter
Unrealized foreign exchange	`ForeignCurrencyTransactionGainLossUnrealized`	$1.77K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$2.31K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$13.36K	USD	1 Quarter
Amounts due to related parties	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	$1.93K	USD	1 Quarter
Amounts due to related parties	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	$-399.00	USD	1 Quarter
Net cash used in operations	`NetCashProvidedByUsedInOperatingActivities`	$-7.88K	USD	1 Quarter
Net cash used in operations	`NetCashProvidedByUsedInOperatingActivities`	$-5.42K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Proceeds of loans payable	`ProceedsOfLoansPayable`	$5.60K	USD	1 Quarter
Proceeds of loans payable	`ProceedsOfLoansPayable`	$25.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$5.60K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$25.00K	USD	1 Quarter
Change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$17.12K	USD	1 Quarter
Change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$182.00	USD	1 Quarter
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$815.00	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$19.46K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.35K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$997.00	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$815.00	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$19.46K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.35K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$997.00	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	-	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	-	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Non-cash operating activities (Note 3)	`AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	-	USD	1 Quarter
Non-cash operating activities (Note 3)	`AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$37.10K	USD	1 Quarter
Non-cash financing activities (Note 3)	`AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Non-cash financing activities (Note 3)	`AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInFinancingActivities`	$60.00K	USD	1 Quarter
Non-cash investing activities	`AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Non-cash investing activities	`AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter

Stockholders Equity 11 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, Value	`StockholdersEquity`	$-2.21M	USD	Point-in-time
Beginning Balance, Value	`StockholdersEquity`	$-2.09M	USD	Point-in-time
Beginning Balance, Value	`StockholdersEquity`	$-2.36M	USD	Point-in-time
Beginning Balance, Value	`StockholdersEquity`	$-2.33M	USD	Point-in-time
Debt settlement, value	`StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities`	97,104.00	shares	1 Quarter
Net Loss	`ProfitLoss`	$22.46K	USD	1 Quarter
Net Loss	`ProfitLoss`	$-38.87K	USD	1 Quarter
Ending Balance, Value	`StockholdersEquity`	$-2.21M	USD	Point-in-time
Ending Balance, Value	`StockholdersEquity`	$-2.09M	USD	Point-in-time
Ending Balance, Value	`StockholdersEquity`	$-2.36M	USD	Point-in-time
Ending Balance, Value	`StockholdersEquity`	$-2.33M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.