10-Q Filing

ARVANA INC CIK: 1113313 Q3 2023

Filing Information

Form Type	10-Q
Accession Number	`0001607062-23-000499`
Period End Date	20230930
Filing Date	20231114
Fiscal Year	2023
Fiscal Period	Q3
XBRL Instance	avni093023form10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 64 Cash Flow Statement 58 Stockholders Equity 32

Balance Sheet 58 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
Cash and cash equivalents	`CashEquivalentsAtCarryingValue`	$142.37K	USD	Point-in-time
Cash and cash equivalents	`CashEquivalentsAtCarryingValue`	$3.29K	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	107.85M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	-	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	107.85M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	107.84M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$8.00K	USD	Point-in-time
Treasury Stock, Common, Shares	`TreasuryStockCommonShares`	6,255.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	-	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$5.10K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$142.37K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$16.39K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	-	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$166.90K	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`	$192.90K	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	-	USD	Point-in-time
Total assets	`Assets`	$209.28K	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`	$79.22K	USD	Point-in-time
Related party payables (Note 8)	`DueToRelatedPartyCurrent`	$10.80K	USD	Point-in-time
Related party payables (Note 8)	`DueToRelatedPartyCurrent`	$8.10K	USD	Point-in-time
Current portion of notes payable - related party	`NotesPayableRelatedPartyClassifiedCurrent`	$65.00K	USD	Point-in-time
Current portion of notes payable - related party	`NotesPayableRelatedPartyClassifiedCurrent`	-	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$46.11K	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$37.87K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$201.14K	USD	Point-in-time
Notes payable - related party, net of current portion	`NotesPayableRelatedPartyNoncurrent`	-	USD	Point-in-time
Notes payable - related party, net of current portion	`NotesPayableRelatedPartyNoncurrent`	$27.64K	USD	Point-in-time
Notes payable, net of current portion	`NotesPayableNoncurrent`	-	USD	Point-in-time
Notes payable, net of current portion	`NotesPayableNoncurrent`	$851.94K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	-	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$879.58K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.08M	USD	Point-in-time
Total liabilities	`Liabilities`	$37.87K	USD	Point-in-time
Common stock, $0.001 par value, 500,000,000 shares authorized, 107,845,554 issued and 107,839,299 outstanding at September 30, 2023 and December 31, 2022	`CommonStockValue`	$107.85K	USD	Point-in-time
Common stock, $0.001 par value, 500,000,000 shares authorized, 107,845,554 issued and 107,839,299 outstanding at September 30, 2023 and December 31, 2022	`CommonStockValue`	$107.85K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$36.24M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$36.43M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-36.24M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-37.40M	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`	$-868.10K	USD	Point-in-time
Less treasury stock - 6,255 common shares at September 30, 2023 and December 31, 2022 respectively	`TreasuryStockValue`	$3.34K	USD	Point-in-time
Less treasury stock - 6,255 common shares at September 30, 2023 and December 31, 2022 respectively	`TreasuryStockValue`	$3.34K	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-871.44K	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-169.24K	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-101.58K	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-801.25K	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$104.50K	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-111.59K	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$209.28K	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$142.37K	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Charter income	`RevenuesCharterIncome`	$23.63K	USD	3 Qtrs
Charter income	`RevenuesCharterIncome`	-	USD	3 Qtrs
Charter income	`RevenuesCharterIncome`	$10.58K	USD	1 Quarter
Charter income	`RevenuesCharterIncome`	-	USD	1 Quarter
Cost of sales	`CostsAndExpenses`	$20.82K	USD	1 Quarter
Cost of sales	`CostsAndExpenses`	-	USD	3 Qtrs
Cost of sales	`CostsAndExpenses`	-	USD	1 Quarter
Cost of sales	`CostsAndExpenses`	$40.94K	USD	3 Qtrs
Gross profit (loss)	`GrossProfit`	$-17.30K	USD	3 Qtrs
Gross profit (loss)	`GrossProfit`	-	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$-10.24K	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	-	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$307.46K	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$41.99K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$58.84K	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$93.06K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$56.87K	USD	3 Qtrs
Professional fees	`ProfessionalFees`	$13.83K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$12.74K	USD	3 Qtrs
Professional fees	`ProfessionalFees`	$5.18K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$47.17K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$405.27K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$127.71K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$71.59K	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-47.17K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-117.13K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-381.63K	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-71.59K	USD	3 Qtrs
Lease income (Note 6)	`LeaseIncome`	-	USD	3 Qtrs
Lease income (Note 6)	`LeaseIncome`	$32.00K	USD	3 Qtrs
Lease income (Note 6)	`LeaseIncome`	-	USD	1 Quarter
Lease income (Note 6)	`LeaseIncome`	$12.00K	USD	1 Quarter
Interest income	`InterestIncomeOperating`	-	USD	1 Quarter
Interest income	`InterestIncomeOperating`	-	USD	3 Qtrs
Interest income	`InterestIncomeOperating`	-	USD	1 Quarter
Interest income	`InterestIncomeOperating`	$5.00	USD	3 Qtrs
Interest expense	`InterestExpense`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$42.76K	USD	3 Qtrs
Interest expense	`InterestExpense`	$587.00	USD	3 Qtrs
Interest expense	`InterestExpense`	$15.59K	USD	1 Quarter
Other income	`OtherIncome`	$15.00K	USD	3 Qtrs
Other income	`OtherIncome`	-	USD	3 Qtrs
Other income	`OtherIncome`	-	USD	1 Quarter
Other income	`OtherIncome`	-	USD	1 Quarter
Loss on asset purchase	`PaymentsForPurchaseOfOtherAssets1`	-	USD	1 Quarter
Loss on asset purchase	`PaymentsForPurchaseOfOtherAssets1`	-	USD	1 Quarter
Loss on asset purchase	`PaymentsForPurchaseOfOtherAssets1`	$771.01K	USD	3 Qtrs
Loss on asset purchase	`PaymentsForPurchaseOfOtherAssets1`	-	USD	3 Qtrs
Total other expense	`NonoperatingIncomeExpense`	$-781.76K	USD	3 Qtrs
Total other expense	`NonoperatingIncomeExpense`	$-3.59K	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	-	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$14.41K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-120.73K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-47.17K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.16M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-57.17K	USD	3 Qtrs
Weighted average shares outstanding - diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	107.84M	shares	1 Quarter
Weighted average shares outstanding - diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	107.84M	shares	1 Quarter
Weighted average shares outstanding - diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	107.84M	shares	3 Qtrs
Weighted average shares outstanding - diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	107.84M	shares	3 Qtrs
Net loss per common share - diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter
Net loss per common share - diluted	`EarningsPerShareDiluted`	-	USD	3 Qtrs
Net loss per common share - diluted	`EarningsPerShareDiluted`	$-0.01	USD	3 Qtrs
Net loss per common share - diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-120.73K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-47.17K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.16M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-57.17K	USD	3 Qtrs
Depreciation expense	`Depreciation`	$5.85K	USD	1 Quarter
Depreciation expense	`Depreciation`	-	USD	3 Qtrs
Depreciation expense	`Depreciation`	$17.55K	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	$187.46K	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	-	USD	3 Qtrs
Loss on asset purchase	`PaymentsForPurchaseOfOtherAssets1`	-	USD	1 Quarter
Loss on asset purchase	`PaymentsForPurchaseOfOtherAssets1`	-	USD	1 Quarter
Loss on asset purchase	`PaymentsForPurchaseOfOtherAssets1`	$771.01K	USD	3 Qtrs
Loss on asset purchase	`PaymentsForPurchaseOfOtherAssets1`	-	USD	3 Qtrs
Current assets	`IncreaseDecreaseInOtherCurrentAssets`	-	USD	3 Qtrs
Current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-8.00K	USD	3 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$44.54K	USD	3 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-14.58K	USD	3 Qtrs
Related party payables	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	$9.93K	USD	3 Qtrs
Related party payables	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	$2.06K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-61.83K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-148.77K	USD	3 Qtrs
Cash paid for asset acquisition	`PaymentsToAcquireBusinessesGross`	$50.00K	USD	3 Qtrs
Cash paid for asset acquisition	`PaymentsToAcquireBusinessesGross`	-	USD	3 Qtrs
Cash acquired from asset acquisition	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	3 Qtrs
Cash acquired from asset acquisition	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$-4.09K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-51.65K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	3 Qtrs
Proceeds from loans payable	`ProceedsFromLoansPayable`	$35.22K	USD	3 Qtrs
Proceeds from loans payable	`ProceedsFromLoansPayable`	$70.77K	USD	3 Qtrs
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$320.00K	USD	1 Quarter
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$320.00K	USD	Annual
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	3 Qtrs
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$320.00K	USD	3 Qtrs
Issuance cost	`IncurredShareIssuanceCosts`	$-32.00K	USD	3 Qtrs
Issuance cost	`IncurredShareIssuanceCosts`	$32.24K	USD	Annual
Issuance cost	`IncurredShareIssuanceCosts`	$-32.00K	USD	1 Quarter
Issuance cost	`IncurredShareIssuanceCosts`	-	USD	3 Qtrs
Payments on loans payable	`PaymentsForLoans`	$50.72K	USD	3 Qtrs
Payments on loans payable	`PaymentsForLoans`	$9.42K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$61.35K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$272.50K	USD	3 Qtrs
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-139.08K	USD	3 Qtrs
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$210.67K	USD	3 Qtrs
Cash and cash equivalents, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.29K	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`	$214.01K	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$142.37K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.29K	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`	$214.01K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$142.37K	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$22.32K	USD	3 Qtrs
Cash paid for interest	`InterestPaidNet`	-	USD	3 Qtrs
Related party payable reduced through issuance of shares	`RelatedPartyPayableReducedThroughIssuanceOfShares`	$40.00K	USD	3 Qtrs
Note payable issued for asset acquisition (Note 3)	`Acquisition`	$700.00K	USD	3 Qtrs
Note payable issued for asset acquisition (Note 3)	`Acquisition`	-	USD	3 Qtrs
Liabilities assume in asset acquisition	`NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1`	$234.90K	USD	3 Qtrs
Liabilities assume in asset acquisition	`NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1`	-	USD	3 Qtrs

Stockholders Equity 32 line items

Line Item	Tag	Value	Unit	Period
[custom:IssuanceOfCommonStock]	`IssuanceOfCommonStock`	4.80M	shares	1 Quarter
[custom:IssuanceOfCommonStock]	`IssuanceOfCommonStock`	4.80M	shares	3 Qtrs
[custom:ConversionOfRelatedPartyDebtToEquityShares]	`ConversionOfRelatedPartyDebtToEquityShares`	600,000.00	shares	1 Quarter
[custom:ConversionOfRelatedPartyDebtToEquityShares]	`ConversionOfRelatedPartyDebtToEquityShares`	600,000.00	shares	3 Qtrs
Beginning balance, value	`StockholdersEquity`	$-871.44K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-169.24K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-101.58K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-801.25K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$104.50K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-111.59K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-871.44K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-169.24K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-101.58K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-801.25K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$104.50K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-111.59K	USD	Point-in-time
Share based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$187.46K	USD	3 Qtrs
Share based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$50.54K	USD	1 Quarter
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$320.00K	USD	1 Quarter
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$320.00K	USD	Annual
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	3 Qtrs
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$320.00K	USD	3 Qtrs
Share issuance cost	`IncurredShareIssuanceCosts`	$-32.00K	USD	3 Qtrs
Share issuance cost	`IncurredShareIssuanceCosts`	$32.24K	USD	Annual
Share issuance cost	`IncurredShareIssuanceCosts`	$-32.00K	USD	1 Quarter
Share issuance cost	`IncurredShareIssuanceCosts`	-	USD	3 Qtrs
Conversion of related party debt to equity	`ConversionOfRelatedPartyDebtToEquity`	$40.00K	USD	3 Qtrs
Conversion of related party debt to equity	`ConversionOfRelatedPartyDebtToEquity`	$40.00K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-120.73K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-47.17K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-1.16M	USD	3 Qtrs
Net Loss	`NetIncomeLoss`	$-57.17K	USD	3 Qtrs

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