10-Q Filing

ARVANA INC CIK: 1113313 Q3 2020

Filing Information

Form Type	10-Q
Accession Number	`0001607062-20-000335`
Period End Date	20200930
Filing Date	20201119
Fiscal Year	2020
Fiscal Period	Q3
XBRL Instance	avni-20200930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 48 Income Statement 36 Cash Flow Statement 40 Stockholders Equity 24

Balance Sheet 48 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
Common stock shares authorized	`CommonStockSharesAuthorized`	5.00M	shares	Point-in-time
Common stock shares authorized	`CommonStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash	`Cash`	$2.35K	USD	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	2.01M	shares	Point-in-time
Cash	`Cash`	$911.00	USD	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	1.03M	shares	Point-in-time
Total assets	`Assets`	$911.00	USD	Point-in-time
Common stock outstanding	`CommonStockSharesOutstanding`	2.01M	shares	Point-in-time
Common stock outstanding	`CommonStockSharesOutstanding`	1.03M	shares	Point-in-time
Total assets	`Assets`	$2.35K	USD	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`	$1.00M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$974.01K	USD	Point-in-time
Convertible loan (Note 8)	`ConvertibleDebtCurrent`	$107.80K	USD	Point-in-time
Convertible loan (Note 8)	`ConvertibleDebtCurrent`	$107.80K	USD	Point-in-time
Loans payable to stockholders (Note 3)	`OtherLoansPayableCurrent`	$565.99K	USD	Point-in-time
Loans payable to stockholders (Note 3)	`OtherLoansPayableCurrent`	$581.38K	USD	Point-in-time
Loans payable to related party (Note 3)	`LoansPayableRelatedParty`	$129.69K	USD	Point-in-time
Loans payable to related party (Note 3)	`LoansPayableRelatedParty`	$130.25K	USD	Point-in-time
Loans payable (Note 3)	`LoansPayableCurrent`	$84.51K	USD	Point-in-time
Loans payable (Note 3)	`LoansPayableCurrent`	$79.31K	USD	Point-in-time
Amounts due to related parties (Note 7)	`DueToOtherRelatedPartiesClassifiedCurrent`	$343.03K	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`	$2.23M	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 September 30, 2020 and December 31, 2019, respectively	`CommonStockValue`	$2.00K	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 September 30, 2020 and December 31, 2019, respectively	`CommonStockValue`	$1.03K	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`	$-23.49M	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-23.60M	USD	Point-in-time
Total Stockholders Deficit Before Treasury Stock	`TotalStockholdersDeficitBeforeTreasuryStock`	$-2.21M	USD	Point-in-time
Total Stockholders Deficit Before Treasury Stock	`TotalStockholdersDeficitBeforeTreasuryStock`	$-2.22M	USD	Point-in-time
Less: Treasury stock - 2,085 common shares at September 30, 2020 and December 31, 2019, respectively	`TreasuryStockValue`	$3.34K	USD	Point-in-time
Less: Treasury stock - 2,085 common shares at September 30, 2020 and December 31, 2019, respectively	`TreasuryStockValue`	$3.34K	USD	Point-in-time
Total stockholders' deficiency	`StockholdersEquity`	$-2.36M	USD	Point-in-time
Total stockholders' deficiency	`StockholdersEquity`	$-2.42M	USD	Point-in-time
Total stockholders' deficiency	`StockholdersEquity`	$-2.23M	USD	Point-in-time
Total stockholders' deficiency	`StockholdersEquity`	$-2.33M	USD	Point-in-time
Total stockholders' deficiency	`StockholdersEquity`	$-2.16M	USD	Point-in-time
Total stockholders' deficiency	`StockholdersEquity`	$-2.21M	USD	Point-in-time
Total stockholders' deficiency	`StockholdersEquity`	$-2.42M	USD	Point-in-time
Total stockholders' deficiency	`StockholdersEquity`	$-2.09M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$2.35K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$911.00	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
General and administrative	`GeneralAndAdministrativeExpense`	$12.22K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$8.35K	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$35.38K	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$3.15K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$12.84K	USD	3 Qtrs
Professional fees	`ProfessionalFees`	$23.11K	USD	3 Qtrs
Professional fees	`ProfessionalFees`	$5.15K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$3.25K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$17.37K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$58.49K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$21.20K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$6.41K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-58.49K	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-6.41K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-17.37K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-21.20K	USD	3 Qtrs
Interest expense	`InterestExpense`	$39.44K	USD	3 Qtrs
Interest expense	`InterestExpense`	$28.40K	USD	1 Quarter
Interest expense	`InterestExpense`	$86.75K	USD	3 Qtrs
Interest expense	`InterestExpense`	$13.32K	USD	1 Quarter
Foreign exchange gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$9.04K	USD	3 Qtrs
Foreign exchange gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$31.57K	USD	1 Quarter
Foreign exchange gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-11.51K	USD	3 Qtrs
Foreign exchange gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-36.90K	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$-109.44K	USD	3 Qtrs
Net loss and comprehensive loss	`NetIncomeLoss`	$-67.59K	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$-3.23K	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$-98.90K	USD	3 Qtrs
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.70M	shares	3 Qtrs
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.03M	shares	3 Qtrs
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.03M	shares	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.01M	shares	1 Quarter
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	1 Quarter
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.10	USD	3 Qtrs
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.06	USD	3 Qtrs

Cash Flow Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-109.44K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-67.59K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.23K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-98.90K	USD	3 Qtrs
Amortization of discount on convertible loan	`AmortizationOfDebtDiscountPremium`	$43.35K	USD	3 Qtrs
Amortization of discount on convertible loan	`AmortizationOfDebtDiscountPremium`	-	USD	3 Qtrs
Interest expense	`InterestExpenseDebt`	$43.40K	USD	3 Qtrs
Interest expense	`InterestExpenseDebt`	$39.44K	USD	3 Qtrs
Unrealized foreign exchange	`ForeignCurrencyTransactionGainLossUnrealized`	$-11.51K	USD	3 Qtrs
Unrealized foreign exchange	`ForeignCurrencyTransactionGainLossUnrealized`	$9.04K	USD	3 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$18.90K	USD	3 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-15.14K	USD	3 Qtrs
Amounts due to related parties	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	$5.48K	USD	3 Qtrs
Amounts due to related parties	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	$8.15K	USD	3 Qtrs
Net cash used in operations	`NetCashProvidedByUsedInOperatingActivities`	$-30.86K	USD	3 Qtrs
Net cash used in operations	`NetCashProvidedByUsedInOperatingActivities`	$-31.43K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	3 Qtrs
Proceeds of loans payable	`ProceedsOfLoansPayable`	$36.81K	USD	3 Qtrs
Proceeds of loans payable	`ProceedsOfLoansPayable`	$30.00K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$30.00K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$36.81K	USD	3 Qtrs
Change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.44K	USD	3 Qtrs
Change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$5.95K	USD	3 Qtrs
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$815.00	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.35K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.76K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$911.00	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$815.00	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.35K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.76K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$911.00	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	-	USD	3 Qtrs
Cash paid for interest	`InterestPaidNet`	-	USD	3 Qtrs
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	3 Qtrs
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	3 Qtrs
Non-cash operating activities (Note 3)	`AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	-	USD	3 Qtrs
Non-cash operating activities (Note 3)	`AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$37.10K	USD	3 Qtrs
Non-cash financing activities (Note 3)	`AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInFinancingActivities`	-	USD	3 Qtrs
Non-cash financing activities (Note 3)	`AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInFinancingActivities`	$60.00K	USD	3 Qtrs

Stockholders Equity 24 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, Value	`StockholdersEquity`	$-2.36M	USD	Point-in-time
Beginning Balance, Value	`StockholdersEquity`	$-2.42M	USD	Point-in-time
Beginning Balance, Value	`StockholdersEquity`	$-2.23M	USD	Point-in-time
Beginning Balance, Value	`StockholdersEquity`	$-2.33M	USD	Point-in-time
Beginning Balance, Value	`StockholdersEquity`	$-2.16M	USD	Point-in-time
Beginning Balance, Value	`StockholdersEquity`	$-2.21M	USD	Point-in-time
Beginning Balance, Value	`StockholdersEquity`	$-2.42M	USD	Point-in-time
Beginning Balance, Value	`StockholdersEquity`	$-2.09M	USD	Point-in-time
Debt settlement, value	`StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities`	97,104.00	shares	1 Quarter
Net Loss	`ProfitLoss`	$-38.87K	USD	1 Quarter
Net Loss	`ProfitLoss`	$22.46K	USD	1 Quarter
Net Loss	`ProfitLoss`	$-64.31K	USD	1 Quarter
Net Loss	`ProfitLoss`	$-56.80K	USD	1 Quarter
Net Loss	`ProfitLoss`	-	USD	1 Quarter
Net Loss	`ProfitLoss`	$-67.59K	USD	1 Quarter
Net Loss	`ProfitLoss`	$211.16K	USD	1 Quarter
Ending Balance, Value	`StockholdersEquity`	$-2.36M	USD	Point-in-time
Ending Balance, Value	`StockholdersEquity`	$-2.42M	USD	Point-in-time
Ending Balance, Value	`StockholdersEquity`	$-2.23M	USD	Point-in-time
Ending Balance, Value	`StockholdersEquity`	$-2.33M	USD	Point-in-time
Ending Balance, Value	`StockholdersEquity`	$-2.16M	USD	Point-in-time
Ending Balance, Value	`StockholdersEquity`	$-2.21M	USD	Point-in-time
Ending Balance, Value	`StockholdersEquity`	$-2.42M	USD	Point-in-time
Ending Balance, Value	`StockholdersEquity`	$-2.09M	USD	Point-in-time

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