ARVANA INC Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>ARVANA INC (AVNI) has filed its Q1 2024 10-Q report, detailing financial positions and historical data.</b>

AI Summary

ARVANA INC (AVNI) filed a Quarterly Report (10-Q) with the SEC on May 9, 2024. ARVANA INC filed a 10-Q report for the period ending March 31, 2024. The company was formerly known as TURINCO INC, with a name change date of May 2, 2000. ARVANA INC is incorporated in Nevada (NV) and has a fiscal year end of December 31. The filing includes financial data for the periods ending March 31, 2024, December 31, 2023, and March 31, 2023. Key financial statement components like Common Stock, Additional Paid-In Capital, Retained Earnings, and Treasury Stock are detailed for various periods.

Why It Matters

For investors and stakeholders tracking ARVANA INC, this filing contains several important signals. This filing provides a quarterly update on ARVANA INC's financial health and operational status, crucial for investors to assess performance and make informed decisions. The report contains detailed financial statements and disclosures, offering insights into the company's assets, liabilities, equity, and changes therein over the reported periods.

Risk Assessment

Risk Level: low — ARVANA INC shows low risk based on this filing. The filing is a standard 10-Q, providing routine financial disclosures without immediate indicators of significant new risks or opportunities.

Analyst Insight

Review the detailed financial statements and segment information within the 10-Q to understand ARVANA INC's current financial performance and asset base.

Key Numbers

• 2024-03-31 — Period of Report (Conformed period of report)
• 2024-05-09 — Filed As Of Date (Date the filing was submitted)
• 2023-03-31 — Prior Period End Date (Comparison period for financial data)
• 2022-12-31 — Prior Year End Date (Comparison period for financial data)

Key Players & Entities

• ARVANA INC (company) — Filer name
• AVNI (company) — Ticker symbol
• TURINCO INC (company) — Former company name
• 2024-03-31 (date) — Period of report
• 2024-05-09 (date) — Filing date
• 2000-05-02 (date) — Date of name change
• NV (jurisdiction) — State of incorporation
• 1231 (date) — Fiscal year end

FAQ

Industry Context

ARVANA INC operates within the Real Estate & Construction sector, specifically in the 'Checks' sub-industry (SIC 6770). This 10-Q provides insights into its financial standing within this sector.

Regulatory Implications

As a publicly traded company, ARVANA INC is subject to the reporting requirements of the Securities Exchange Act of 1934, necessitating regular filings like this 10-Q with the SEC.

What Investors Should Do

1. Analyze the balance sheet for changes in assets, liabilities, and equity from the previous quarter and year.
2. Review any disclosed notes to the financial statements for specific details on accounting policies, commitments, or contingencies.
3. Compare the current period's financial data with historical filings to identify trends in revenue, expenses, and profitability.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-09: Filing Date — Date ARVANA INC submitted the 10-Q to the SEC.

Year-Over-Year Comparison

This is the first 10-Q filing for the fiscal year 2024, providing an update from the previous 10-K and Q1 2023 filings.

Key Financial Figures

• $0.001 — of the issuer's common stock, par value $0.001 (the only class of voting stock) at May

Filing Documents

• avni033124form10q.htm (10-Q) — 472KB
• ex31.htm (EX-31) — 7KB
• ex32.htm (EX-32) — 4KB
• 0001607062-24-000171.txt (&nbsp;) — 2567KB
• avni-20240331.xsd (EX-101.SCH) — 23KB
• avni-20240331_cal.xml (EX-101.CAL) — 35KB
• avni-20240331_def.xml (EX-101.DEF) — 52KB
• avni-20240331_lab.xml (EX-101.LAB) — 186KB
• avni-20240331_pre.xml (EX-101.PRE) — 145KB
• avni033124form10q_htm.xml (XML) — 301KB

Signatures

Signatures 23 Index to Exhibits 24 2 ITEM 1. FINANCIAL STATEMENTS As used herein, the terms "Arvana," "we," "our," and "us" refer to Arvana Inc., its subsidiary, and its predecessor, unless context indicates otherwise. Any distinct references to Down2Fish, refer to Down 2 Fish Charters, LLC., a wholly owned subsidiary of Arvana. In the opinion of management, the accompanying unaudited condensed consolidated financial statements included in this Form 10-Q reflect all adjustments (consisting only of normal recurring accruals) necessary for a fair presentation of the results of operations for the periods presented. The results of operations for the periods presented are not necessarily indicative of the results to be expected for the full year. 3 ARVANA INC. CONSOLIDATED BALANCE SHEETS March 31, December 31, 2024 2023 (unaudited) ASSETS Current assets: Cash and cash equivalents $ 134,038 $ 22,071 Other current assets 5,100 5,100 Total current assets 139,138 27,171 Non-current assets: Property and equipment, net 156,666 163,378 Intangible assets 26,000 26,000 Total non-current assets 182,666 189,378 Total assets $ 321,804 $ 216,549 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current liabilities: Accounts payable and accrued liabilities $ 108,744 $ 100,849 Related party payables (Note 8) 30,800 46,200 Current portion of notes payable - related party 300,000 112,000 Current portion of notes payable 784,226 79,438 Total current liabilities 1,223,770 338,487 Long-term liabilities: Notes payable, net of current portion 129,741 840,188 Total long-term liabilities 129,741 840,188 Total liabilities 1,353,511 1,178,675 Stockholders' (deficit): Common stock, $ 0.001 par value, 500,000,000 shares authorized, 107,845,554 issued and 107,839,299 outstanding at March 31, 2024 and December 31, 2023 107,847 107,847 Additional paid-in capital 36,550,160 36,490,304 Accumulated d

Management's

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations As used herein the terms "Arvana," "we," "our," and "us" refer to Arvana Inc., its subsidiary, and its predecessor, unless context indicates otherwise. Any distinct references to Down2Fish refer to Down 2 Fish Charters, LLC., a wholly owned subsidiary of Arvana.

FORWARD LOOKING STATEMENTS

FORWARD LOOKING STATEMENTS The information in this Quarterly Report on Form 10-Q contains forward-looking statements that involve risks and uncertainties, including our capital needs, business plans and expectations. Forward-looking capital costs, and other factors. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict", "potential" or "continue", the negative of such terms, or other comparable terminology. Forward-looking statements are based on assumptions and analyses made by management considering their experience and perception of historical trends, current conditions and expected future developments as well as other factors it believes are appropriate

View Full Filing

View this 10-Q filing on SEC EDGAR