10-Q Filing

ARVANA INC CIK: 1113313 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001607062-21-000129`
Period End Date	20210331
Filing Date	20210518
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	avni-20210331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 50 Income Statement 18 Cash Flow Statement 38 Stockholders Equity 26

Balance Sheet 50 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 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
Common stock shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	4.61M	shares	Point-in-time
Cash	`Cash`	$4.99K	USD	Point-in-time
Cash	`Cash`	$907.00	USD	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	4.61M	shares	Point-in-time
Total assets	`Assets`	$907.00	USD	Point-in-time
Total assets	`Assets`	$4.99K	USD	Point-in-time
Common stock outstanding	`CommonStockSharesOutstanding`	4.61M	shares	Point-in-time
Common stock outstanding	`CommonStockSharesOutstanding`	4.61M	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`	$871.36K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$867.71K	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`	$511.37K	USD	Point-in-time
Loans payable to stockholders (Note 3)	`OtherLoansPayableCurrent`	$522.55K	USD	Point-in-time
Loans payable to related party (Note 3)	`LoansPayableRelatedParty`	$130.95K	USD	Point-in-time
Loans payable to related party (Note 3)	`LoansPayableRelatedParty`	$130.68K	USD	Point-in-time
Loans payable (Note 3)	`LoansPayableCurrent`	$74.66K	USD	Point-in-time
Loans payable (Note 3)	`LoansPayableCurrent`	$74.76K	USD	Point-in-time
Amounts due to related parties (Note 7)	`DueToOtherRelatedPartiesClassifiedCurrent`	$357.98K	USD	Point-in-time
Amounts due to related parties (Note 7)	`DueToOtherRelatedPartiesClassifiedCurrent`	$352.65K	USD	Point-in-time
Total current liabilities	`Liabilities`	$2.05M	USD	Point-in-time
Total current liabilities	`Liabilities`	$2.06M	USD	Point-in-time
Common stock, $0.001 par value 5,000,000 authorized, 4,610,670 and 4,610,670 shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively	`CommonStockValue`	$4.61K	USD	Point-in-time
Common stock, $0.001 par value 5,000,000 authorized, 4,610,670 and 4,610,670 shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively	`CommonStockValue`	$4.61K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$21.92M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$21.92M	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-23.97M	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-23.97M	USD	Point-in-time
Stockholders' deficiency before treasury stock	`StockholdersEquityBeforeTreasuryStock`	$-2.05M	USD	Point-in-time
Stockholders' deficiency before treasury stock	`StockholdersEquityBeforeTreasuryStock`	$-2.05M	USD	Point-in-time
Less Treasury stock - 2,085 common shares at March 31, 2021, and December 31, 2020, respectively	`TreasuryStockValue`	$3.34K	USD	Point-in-time
Less Treasury stock - 2,085 common shares at March 31, 2021, and December 31, 2020, respectively	`TreasuryStockValue`	$3.34K	USD	Point-in-time
Total stockholders' deficiency	`StockholdersEquity`	$-2.33M	USD	Point-in-time
Total stockholders' deficiency	`StockholdersEquity`	$-2.09M	USD	Point-in-time
Total stockholders' deficiency	`StockholdersEquity`	$-2.21M	USD	Point-in-time
Total stockholders' deficiency	`StockholdersEquity`	$-2.05M	USD	Point-in-time
Total stockholders' deficiency	`StockholdersEquity`	$-2.05M	USD	Point-in-time
Total stockholders' deficiency	`StockholdersEquity`	$-2.25M	USD	Point-in-time
Total stockholders' deficiency	`StockholdersEquity`	$-2.25M	USD	Point-in-time
Total stockholders' deficiency	`StockholdersEquity`	$-2.48M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$4.99K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$907.00	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`	$3.36K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$7.31K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$11.74K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$23.44K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$10.67K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-10.67K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-23.44K	USD	1 Quarter
Interest expense (Note 3 and Note 8)	`InterestExpense`	$13.00K	USD	1 Quarter
Interest expense (Note 3 and Note 8)	`InterestExpense`	$12.30K	USD	1 Quarter
Foreign exchange gain	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$58.89K	USD	1 Quarter
Foreign exchange gain	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$20.71K	USD	1 Quarter
Net income (loss) and comprehensive income (loss)	`NetIncomeLoss`	$22.46K	USD	1 Quarter
Net income (loss) and comprehensive income (loss)	`NetIncomeLoss`	$-2.26K	USD	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.09M	shares	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	4.61M	shares	1 Quarter
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.02	USD	1 Quarter

Cash Flow Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$22.46K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-2.26K	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$12.30K	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$13.00K	USD	1 Quarter
Unrealized foreign exchange	`ForeignCurrencyTransactionGainLossUnrealized`	$37.88K	USD	1 Quarter
Unrealized foreign exchange	`ForeignCurrencyTransactionGainLossUnrealized`	$58.62K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$13.36K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$20.03K	USD	1 Quarter
Amounts due to related parties	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	$3.72K	USD	1 Quarter
Amounts due to related parties	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	$1.93K	USD	1 Quarter
Net cash used in operations	`NetCashProvidedByUsedInOperatingActivities`	$-7.88K	USD	1 Quarter
Net cash used in operations	`NetCashProvidedByUsedInOperatingActivities`	$-4.09K	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`	$25.00K	USD	1 Quarter
Proceeds of loans payable	`ProceedsOfLoansPayable`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$25.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Change in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-4.09K	USD	1 Quarter
Change in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$17.12K	USD	1 Quarter
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$19.46K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$907.00	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.99K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.35K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$19.46K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$907.00	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.99K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.35K	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)	`NoncashOperatingActivitiesNote3`	$37.10K	USD	1 Quarter
Non-cash operating activities (Note 3)	`NoncashOperatingActivitiesNote3`	-	USD	1 Quarter
Non-cash financing activities (Note 3)	`NoncashFinancingActivitiesNote3`	$60.00K	USD	1 Quarter
Non-cash financing activities (Note 3)	`NoncashFinancingActivitiesNote3`	-	USD	1 Quarter
Non-cash investing activities	`NoncashInvestingActivities`	-	USD	1 Quarter
Non-cash investing activities	`NoncashInvestingActivities`	-	USD	1 Quarter

Stockholders Equity 26 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, Value	`StockholdersEquity`	$-2.33M	USD	Point-in-time
Beginning Balance, Value	`StockholdersEquity`	$-2.09M	USD	Point-in-time
Beginning Balance, Value	`StockholdersEquity`	$-2.21M	USD	Point-in-time
Beginning Balance, Value	`StockholdersEquity`	$-2.05M	USD	Point-in-time
Beginning Balance, Value	`StockholdersEquity`	$-2.05M	USD	Point-in-time
Beginning Balance, Value	`StockholdersEquity`	$-2.25M	USD	Point-in-time
Beginning Balance, Value	`StockholdersEquity`	$-2.25M	USD	Point-in-time
Beginning Balance, Value	`StockholdersEquity`	$-2.48M	USD	Point-in-time
Debt settlement, value	`StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities`	34,247.00	shares	Annual
Discount on convertible notes from beneficial conversion feature, value	`DiscountOnConvertibleNotesFromBeneficialConversionFeatureValue`	$25.00K	USD	Annual
Discount on convertible notes from beneficial conversion feature, value	`DiscountOnConvertibleNotesFromBeneficialConversionFeatureValue`	$57.80K	USD	Annual
Net Loss	`ProfitLoss`	$-62.53K	USD	Annual
Net Loss	`ProfitLoss`	$22.46K	USD	3 Qtrs
Net Loss	`ProfitLoss`	$22.46K	USD	1 Quarter
Net Loss	`ProfitLoss`	$-2.26K	USD	1 Quarter
Net Loss	`ProfitLoss`	$112.25K	USD	Annual
Net Loss	`ProfitLoss`	$-224.91K	USD	Annual
Net Loss	`ProfitLoss`	$93.51K	USD	Annual
Ending Balance, Value	`StockholdersEquity`	$-2.33M	USD	Point-in-time
Ending Balance, Value	`StockholdersEquity`	$-2.09M	USD	Point-in-time
Ending Balance, Value	`StockholdersEquity`	$-2.21M	USD	Point-in-time
Ending Balance, Value	`StockholdersEquity`	$-2.05M	USD	Point-in-time
Ending Balance, Value	`StockholdersEquity`	$-2.05M	USD	Point-in-time
Ending Balance, Value	`StockholdersEquity`	$-2.25M	USD	Point-in-time
Ending Balance, Value	`StockholdersEquity`	$-2.25M	USD	Point-in-time
Ending Balance, Value	`StockholdersEquity`	$-2.48M	USD	Point-in-time

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