10-Q Filing

ARVANA INC CIK: 1113313 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001607062-23-000319`
Period End Date	20230331
Filing Date	20230605
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	avni033123form10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 51 Income Statement 29 Cash Flow Statement 40 Stockholders Equity 11

Balance Sheet 51 line items

Line Item	Tag	Value	Unit	Period
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	107.85M	shares	Point-in-time
Cash and cash equivalents	`CashEquivalentsAtCarryingValue`	$142.37K	USD	Point-in-time
Cash and cash equivalents	`CashEquivalentsAtCarryingValue`	$51.56K	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	107.84M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$5.10K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	-	USD	Point-in-time
Treasury Stock, Common, Shares	`TreasuryStockCommonShares`	6,255.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$142.37K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$56.66K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	-	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$172.86K	USD	Point-in-time
Intangible assets	`FiniteLivedIntangibleAssetsNet`	$26.00K	USD	Point-in-time
Intangible assets	`FiniteLivedIntangibleAssetsNet`	-	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$198.86K	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	-	USD	Point-in-time
Total assets	`Assets`	$255.52K	USD	Point-in-time
Total assets	`Assets`	$142.37K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccruedLiabilitiesCurrent`	$29.77K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccruedLiabilitiesCurrent`	$61.62K	USD	Point-in-time
Related party payables (Note 8)	`DueToRelatedPartyCurrent`	$8.10K	USD	Point-in-time
Related party payables (Note 8)	`DueToRelatedPartyCurrent`	$10.80K	USD	Point-in-time
Deferred Revenue	`DeferredRevenueCurrent`	$4.00K	USD	Point-in-time
Deferred Revenue	`DeferredRevenueCurrent`	-	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	-	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$35.59K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$112.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$37.87K	USD	Point-in-time
Notes payable, net of current portion	`NotesPayableCurrent`	$892.98K	USD	Point-in-time
Notes payable, net of current portion	`NotesPayableCurrent`	-	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$892.98K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	-	USD	Point-in-time
Total liabilities	`Liabilities`	$37.87K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.00M	USD	Point-in-time
Common stock, $.001 par value, 500,000,000 shares authorized, 107,845,554 issued, and 107,839,299 outstanding at March 31, 2023, and December 31, 2022, respectively	`CommonStockValue`	$107.85K	USD	Point-in-time
Common stock, $.001 par value, 500,000,000 shares authorized, 107,845,554 issued, and 107,839,299 outstanding at March 31, 2023, and December 31, 2022, respectively	`CommonStockValue`	$107.85K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$36.24M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$36.31M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-37.17M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-36.24M	USD	Point-in-time
Total stockholders' equity (deficit) before treasury stock	`StockholdersEquityBeforeTreasuryStock`	$107.83K	USD	Point-in-time
Total stockholders' equity (deficit) before treasury stock	`StockholdersEquityBeforeTreasuryStock`	$-746.13K	USD	Point-in-time
Less treasury stock 6,255 common shares at March 31, 2023 and December 31, 2022, respectively	`TreasuryStockValue`	$3.34K	USD	Point-in-time
Less treasury stock 6,255 common shares at March 31, 2023 and December 31, 2022, respectively	`TreasuryStockValue`	$3.34K	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$-101.58K	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$104.50K	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$-749.47K	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$-110.42K	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$142.37K	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$255.52K	USD	Point-in-time

Income Statement 29 line items

Line Item	Tag	Value	Unit	Period
General and administrative	`GeneralAndAdministrativeExpense`	$3.29K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$112.44K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$36.46K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$5.34K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$148.90K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$8.64K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-8.64K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-148.90K	USD	1 Quarter
Lease Income	`LeaseIncome`	$8.00K	USD	1 Quarter
Depreciation	`DepreciationNonproduction`	$5.85K	USD	1 Quarter
Depreciation	`DepreciationNonproduction`	-	USD	1 Quarter
Interest income	`InterestIncomeOperating`	-	USD	1 Quarter
Interest income	`InterestIncomeOperating`	$4.00	USD	1 Quarter
Interest expense	`InterestExpense`	$10.64K	USD	1 Quarter
Interest expense	`InterestExpense`	$194.00	USD	1 Quarter
Loss on asset purchase	`PaymentsForPurchaseOfOtherAssets1`	$771.01K	USD	1 Quarter
Loss on asset purchase	`PaymentsForPurchaseOfOtherAssets1`	-	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-194.00	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-779.50K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.83K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-928.40K	USD	1 Quarter
Weighted average shares outstanding basic	`WeightedAverageNumberOfSharesOutstandingBasic`	102.45M	shares	1 Quarter
Weighted average shares outstanding basic	`WeightedAverageNumberOfSharesOutstandingBasic`	107.84M	shares	1 Quarter
Net loss per common share basic	`EarningsPerShareBasic`	-	USD	1 Quarter
Net loss per common share basic	`EarningsPerShareBasic`	-	USD	1 Quarter
Weighted average shares outstanding diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	107.84M	shares	1 Quarter
Weighted average shares outstanding diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	102.45M	shares	1 Quarter
Net loss per common share diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter
Net loss per common share diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter

Cash Flow Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-8.83K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-928.40K	USD	1 Quarter
Depreciation expense	`Depreciation`	-	USD	1 Quarter
Depreciation expense	`Depreciation`	$5.85K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$74.43K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	-	USD	1 Quarter
Loss on asset purchase	`PaymentsForPurchaseOfOtherAssets1`	$771.01K	USD	1 Quarter
Loss on asset purchase	`PaymentsForPurchaseOfOtherAssets1`	-	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$5.76K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$18.79K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$4.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	-	USD	1 Quarter
Related party payables	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	$2.84K	USD	1 Quarter
Related party payables	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	$10.20K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-44.12K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-222.00	USD	1 Quarter
Cash paid for asset acquisition	`PaymentsToAcquireBusinessesGross`	-	USD	1 Quarter
Cash paid for asset acquisition	`PaymentsToAcquireBusinessesGross`	$50.00K	USD	1 Quarter
Cash acquired from asset acquisition	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Cash acquired from asset acquisition	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$-4.09K	USD	1 Quarter
Payments on loans payable	`PaymentsForLoans`	$777.00	USD	1 Quarter
Payments on loans payable	`PaymentsForLoans`	-	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-777.00	USD	1 Quarter
Net decrease in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-90.80K	USD	1 Quarter
Net decrease in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-222.00	USD	1 Quarter
Cash and cash equivalents, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$51.56K	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$142.37K	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.34K	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.12K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$51.56K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$142.37K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.34K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.12K	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$2.86K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	-	USD	1 Quarter
Note payable issued for asset acquisition (Note 3)	`Acquisition`	-	USD	1 Quarter
Note payable issued for asset acquisition (Note 3)	`Acquisition`	$700.00K	USD	1 Quarter
Liabilities assumed in asset acquisition	`NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1`	$234.90K	USD	1 Quarter
Liabilities assumed in asset acquisition	`NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1`	-	USD	1 Quarter

Stockholders Equity 11 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$-101.58K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$104.50K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-749.47K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-110.42K	USD	Point-in-time
Share-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$74.43K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.83K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-928.40K	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$-101.58K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$104.50K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-749.47K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-110.42K	USD	Point-in-time

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