$AVNI
ARVANA INC

2023 Q3 Form 10-Q Financial Statement

#000160706223000410 Filed on August 17, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $10.58K $13.58K $0.00
YoY Change
Cost Of Revenue $20.82K $14.63K
YoY Change
Gross Profit -$10.24K -$1.050K
YoY Change
Gross Profit Margin -96.82% -7.73%
Selling, General & Admin $106.9K $108.7K $15.78K
YoY Change 126.61% 588.78% -10.59%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.851K $5.851K
YoY Change
% of Gross Profit
Operating Expenses $127.7K $123.3K $15.78K
YoY Change 170.75% 681.53% -10.54%
Operating Profit -$117.1K -$109.7K -$15.78K
YoY Change 148.32% 595.44% -10.58%
Interest Expense $15.59K $16.52K $393.00
YoY Change 4104.33% -94.24%
% of Operating Profit
Other Income/Expense, Net -$3.594K -$4.522K $14.61K
YoY Change -130.96% -96.66%
Pretax Income -$120.7K -$114.3K -$1.174K
YoY Change 155.94% 9633.39% -100.28%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$120.7K -$114.3K -$1.174K
YoY Change 155.93% 9633.3% -100.28%
Net Earnings / Revenue -1141.09% -841.51%
Basic Earnings Per Share $0.00 $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00 -$34.26
COMMON SHARES
Basic Shares Outstanding 107.8M shares 35.95M shares 102.4M shares
Diluted Shares Outstanding 107.8M shares 107.8M shares 102.4M shares

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.290K $18.65K $13.20K
YoY Change -98.46% 41.29% -15.38%
Cash & Equivalents $3.286K $18.65K $13.20K
Short-Term Investments
Other Short-Term Assets $5.100K $5.100K
YoY Change
Inventory
Prepaid Expenses
Receivables $8.000K
Other Receivables $0.00
Total Short-Term Assets $16.39K $23.75K $13.20K
YoY Change -92.34% 80.0% -15.42%
LONG-TERM ASSETS
Property, Plant & Equipment $166.9K $167.0K
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $192.9K $193.0K $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $16.39K $23.75K $13.20K
Total Long-Term Assets $192.9K $193.0K $0.00
Total Assets $209.3K $216.8K $13.20K
YoY Change -2.21% 1542.71% -15.42%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $90.02K $67.17K $26.56K
YoY Change 197.64% 152.89% -83.23%
Accrued Expenses $79.22K $53.77K $2.500K
YoY Change 684.07% 2050.84%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $36.42K
YoY Change -100.0% -95.42%
Long-Term Debt Due $46.11K $38.19K
YoY Change
Total Short-Term Liabilities $201.1K $130.4K $124.8K
YoY Change 349.22% 4.47% -92.43%
LONG-TERM LIABILITIES
Long-Term Debt $879.6K $887.7K $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $879.6K $887.6K $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $201.1K $130.4K $124.8K
Total Long-Term Liabilities $879.6K $887.6K $0.00
Total Liabilities $1.081M $1.018M $124.8K
YoY Change 2313.72% 715.82% -92.43%
SHAREHOLDERS EQUITY
Retained Earnings -$37.40M -$37.28M -$36.10M
YoY Change 3.48% 3.28%
Common Stock $36.54M $36.49M $35.99M
YoY Change 0.6% 1.37%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.336K $3.336K $3.336K
YoY Change 0.0% 0.0%
Treasury Stock Shares
Shareholders Equity -$871.4K -$801.3K -$111.6K
YoY Change
Total Liabilities & Shareholders Equity $209.3K $216.8K $13.20K
YoY Change -2.21% 1542.71% -15.42%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income -$120.7K -$114.3K -$1.174K
YoY Change 155.93% 9633.3% -100.28%
Depreciation, Depletion And Amortization $5.851K $5.851K
YoY Change
Cash From Operating Activities -$49.48K -$55.17K -$10.84K
YoY Change -2.54% 408.95% 658.04%
INVESTING ACTIVITIES
Capital Expenditures $5.740K
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change
Cash From Investing Activities -$5.740K $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 39.86K 22.27K 20.92K
YoY Change -84.16% 6.45% 29.7%
NET CHANGE
Cash From Operating Activities -49.48K -55.17K -10.84K
Cash From Investing Activities -5.740K 0.000
Cash From Financing Activities 39.86K 22.27K 20.92K
Net Change In Cash -15.36K -32.90K 10.08K
YoY Change -107.65% -426.39% -31.43%
FREE CASH FLOW
Cash From Operating Activities -$49.48K -$55.17K -$10.84K
Capital Expenditures $5.740K
Free Cash Flow -$55.22K
YoY Change

Facts In Submission

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us-gaap Use Of Estimates
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<p id="xdx_840_eus-gaap--UseOfEstimates_z7HLDBnul9e4" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_86A_zsjHt9ldGeQc" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Use of Estimates</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">T</span>he preparation of unaudited consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. These estimates include the recognition of deferred tax assets based on the change in unrecognized deductible temporary tax differences.</p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_840_eus-gaap--ConcentrationRiskCreditRisk_zRkhFYEkyHFf" style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_86F_zidAaK35uZV7" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Concentration of Credit Risk</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash. The Company maintains cash in bank accounts that, at times, may exceed federally insured limits. At June 30, 2023 and December 31, 2022 respectively, the Company did not have any cash in excess of the insured FDIC limits. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant risks on its cash in bank account.</span></p>
CY2023Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets
213895 usd
CY2023Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Accounts Payable
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable
4910 usd
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7950000 shares
us-gaap Net Income Loss
NetIncomeLoss
-1042669 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-114269 usd
CY2023Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-37283037 usd
CY2023Q2 AVNI Working Capital
WorkingCapital
106612 usd
us-gaap Payments For Purchase Of Other Assets1
PaymentsForPurchaseOfOtherAssets1
771009 usd
CY2023Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Other
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther
644 usd
CY2023Q1 AVNI Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Payable To Affiliates
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPayableToAffiliates
62634 usd
CY2023Q1 AVNI Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Notes Payable
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNotesPayable
166716 usd
CY2023Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities
234904 usd
CY2023Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
750000 usd
CY2023Q1 AVNI Business Combination Loss On Asset Acquisition
BusinessCombinationLossOnAssetAcquisition
771009 usd
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
178706 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
0 usd
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
11701 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
-0 usd
CY2023Q2 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
167005 usd
CY2022Q4 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
0 usd
us-gaap Depreciation
Depreciation
11701 usd
CY2023Q2 us-gaap Depreciation
Depreciation
5851 usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
113031 shares
CY2024Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
239421 shares
CY2025Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
156902 shares
CY2026Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
7582 shares
us-gaap Sale Leaseback Transaction Monthly Rental Payments
SaleLeasebackTransactionMonthlyRentalPayments
4000 usd
us-gaap Lease Income
LeaseIncome
20000 usd
CY2023Q2 us-gaap Lease Income
LeaseIncome
12000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
44000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
48000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
48000 usd
CY2022 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
4800000 shares
CY2022Q4 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
0.07
CY2022Q4 AVNI Restricted Common Stock Total Proceeds
RestrictedCommonStockTotalProceeds
320000 usd
CY2022 AVNI Incurred Share Issuance Costs
IncurredShareIssuanceCosts
32237 usd
CY2023Q2 AVNI Accrued Payroll Included In Amounts Due To Related Parties
AccruedPayrollIncludedInAmountsDueToRelatedParties
10000 usd
CY2022Q4 AVNI Accrued Payroll Included In Amounts Due To Related Parties
AccruedPayrollIncludedInAmountsDueToRelatedParties
7500 usd
CY2023Q2 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
400 usd
CY2022Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
600 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
7950000 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.09
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
0 shares
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
136922 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
62488 usd
AVNI Allocated Share Based Compensation Expense Remaining
AllocatedShareBasedCompensationExpenseRemaining
523255 usd
CY2027Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
6319 shares
AVNI Allocated Share Based Compensation Expense Remaining
AllocatedShareBasedCompensationExpenseRemaining
523255 usd
CY2023Q2 us-gaap Notes Payable
NotesPayable
901193 usd
CY2022Q4 us-gaap Notes Payable
NotesPayable
0 usd
CY2023Q2 us-gaap Notes And Loans Payable Current
NotesAndLoansPayableCurrent
38192 usd
CY2023Q2 us-gaap Other Long Term Notes Payable
OtherLongTermNotesPayable
863001 usd
CY2022Q4 us-gaap Other Long Term Notes Payable
OtherLongTermNotesPayable
0 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Rolling Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextRollingTwelveMonths
38192 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearTwo
720666 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearThree
6763 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFour
11928 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFive
15346 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingAfterYearFive
108298 usd
CY2023Q2 us-gaap Long Term Debt
LongTermDebt
901193 usd
CY2023Q2 us-gaap Loans Payable
LoansPayable
30000 usd

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