Arvana (AVNI) 10-K 15 Apr 19 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2018	Apr. 15, 2019
Document and Entity Information:
Entity Registrant Name	ARVANA INC
Document Type	10-K
Document Period End Date	Dec. 31, 2018
Trading Symbol	avni
Amendment Flag	false
Entity Central Index Key	0001113313
Current Fiscal Year End Date	--12-31
Entity Public Float		$ 519,897
Entity Common Stock, Shares Outstanding		1,034,030
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Shell Company	true
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Entity Well Known Seasoned Issuer	No
Entity Voluntary Filer	No
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	FY

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Current assets:
Cash	$ 815	$ 4,730
Total assets	815	4,730
Current liabilities
Accounts payable and accrued liabilities	1,012,714	1,075,409
Convertible loans (net of discount of $45,059 and $nil, respectively (Note 9)	62,741	50,000
Loans payable to stockholders (Note 3)	583,593	600,651
Loans payable to related party (Note 3)	129,231	131,000
Loans payable (Note 3)	47,330	75,813
Amounts due to related parties (Note 8)	491,171	549,132
Total current liabilities	2,326,780	2,482,005
Stockholders' deficiency
Common stock, $0.001 par value 5,000,000 authorized, 1,034,030 shares issued and outstanding at December 31, 2018 and 2017, respectively	1,034	1,034
Additional paid-in capital	21,283,517	21,225,717
Deficit	(23,607,180)	(23,700,690)
Total Stockholders Deficit Before Treasury Stock	(2,322,629)	(2,473,939)
Less: Treasury stock – 2,085 common shares at December 31, 2018 and 2017, respectively	(3,336)	(3,336)
Total stockholders' deficiency	(2,325,965)	(2,477,275)
Total liabilities and stockholders' deficit	$ 815	$ 4,730

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Convertible loan, net of discount	$ 45,059
Common stock par value	$ 0.001	$ 0.001
Common stock shares authorized	5,000,000	5,000,000
Common stock shares issued	1,034,030	1,034,030
Common stock outstanding	1,034,030	1,034,030
Treasury stock	2,085	2,085

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Operating expenses
General and administrative	$ 12,055	$ 11,708
Professional fees	29,819	27,281
Total operating expenses	41,874	38,989
Loss from operations	(41,874)	(38,989)
Interest expense	(63,948)	(65,553)
Foreign exchange gain (loss)	85,095	(120,372)
Gain on sale of subsidiaries	114,237
Net income (loss) and comprehensive income (loss)	$ 93,510	$ (224,914)
Per common share information - basic and diluted:
Weighted average shares outstanding	1,034,030	1,034,030
Net loss per common share - basic and diluted	$ 0.09	$ (0.22)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash flows from operating activities
Net income (loss)	$ 93,510	$ (224,914)	$ (62,531)
Item not involving cash:
Interest expense	63,948	65,553
Foreign exchange (gain) loss	(85,095)	118,486
Gain on sale of subsidiaries	(114,237)
Amortization of discount on convertible loan	12,741	14,583
Changes in non-cash working capital:
Accounts payable and accrued liabilities	(2,368)	54,870
Amounts due to related parties	10,371	7,860
Net cash used in operations	(33,871)	(29,115)
Cash flows from investing activities
Cash disposed on sale of subsidiaries	(44)
Net cash used in investing activities	(44)
Cash flows from financing activities
Proceeds of loans payable		27,800
Proceeds of convertible loan	30,000
Net cash provided by financing activities	30,000	27,800
Increase (decrease) in cash	(3,915)	(1,315)
Cash, beginning of period	4,730	6,045
Cash, end of period	815	4,730	6,045
Supplementary information
Cash paid for interest
Cash paid for income taxes
Accounts payable and accrued liabilities settled as consideration for the sale of subsidiaries	23,206
Discount on convertible notes from beneficial conversion feature	$ 57,800		$ 25,000

Statements of Stockholders' Equ

Statements of Stockholders' Equity (Deficit) - USD ($)	Common Stock	Additional Paid-In Capital	Deficit	Treasury Stock	Total
Beginning Balance, Shares at Dec. 31, 2015	885,130			(2,085)
Beginning Balance, Value at Dec. 31, 2015	$ 885	$ 21,166,619	$ (23,413,245)	$ (3,336)	$ (2,249,077)
Discount on convertible notes from beneficial conversion feature		25,000			25,000
Net Loss			(62,531)		(62,531)
Ending Balance, Shares at Dec. 31, 2016	1,034,030			(2,085)
Ending Balance, Value at Dec. 31, 2016	$ 1,034	21,225,717	(23,475,776)	$ (3,336)	(2,252,361)
Discount on convertible notes from beneficial conversion feature
Net Loss			(224,914)		$ (224,914)
Ending Balance, Shares at Dec. 31, 2017	1,034,030			(2,085)	1,034,030
Ending Balance, Value at Dec. 31, 2017	$ 1,034	21,225,717	(23,700,690)	$ (3,336)	$ (2,477,275)
Discount on convertible notes from beneficial conversion feature		57,800			57,800
Net Loss			93,510		$ 93,510
Ending Balance, Shares at Dec. 31, 2018	1,034,030			(2,085)	1,034,030
Ending Balance, Value at Dec. 31, 2018	$ 1,034	$ 21,283,517	$ (23,607,180)	$ (3,336)	$ (2,325,965)

Note 1_ Nature of Business and

Note 1: Nature of Business and Ability To Continue As A Going Concern	12 Months Ended
	Dec. 31, 2018
Disclosure Text Block [Abstract]
Note 1. Nature of Business and Ability To Continue As A Going Concern	1. Nature of Business and Ability to Continue as a Going Concern Arvana Inc. (“our”, “we”, “us” and the “Company”) was incorporated under the laws of the State of Nevada as Turinco, Inc. on September 16, 1977, with authorized common stock of 2,500 shares with a par value of $0.25. On October 16, 1998, the authorized capital stock was increased to 100,000,000 common shares with a par value of $0.001 and a forward common stock split of eight shares for each outstanding share. In 2005, we completed another forward common stock split of nine shares for each outstanding share. On July 24, 2006, the shareholders approved a change of the Company’s name from Turinco, Inc. to Arvana Inc. On September 30, 2010, the authorized capital stock was decreased to 5,000,000 common shares with a par value of $0.001 in combination with a reverse split of one share for every twenty shares outstanding. On March 17, 2016, the Company entered into a non-binding Memorandum of Understanding (“MOU”) with CaiE Food Partnership Ltd. (“CaiE”) for the purpose of acquiring CaiE as a wholly-owned subsidiary. CaiE is in the business of manufacturing and distributing fresh Dim Sum food products from a facility based in Sparks, Nevada. In the event that the Company does not complete the acquisition of CaiE, its intention will be to identify and evaluate alternative business opportunities that might be a good match for the Company. The reporting currency and functional currency of the Company is the United States dollar (“US Dollar”) and the accompanying financial statements have been expressed in US Dollars. These financial statements have been prepared on a going concern basis, which assumes the realization of assets and settlement of liabilities in the normal course of business. For the year ended December 31, 2018, the Company recognized net income of $93,510, as a result of a gain on sale of subsidiaries (Note 10). At December 31, 2018, the Company had a working capital deficiency of $2,325,965. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The Company will require continued financial support from its stockholders and creditors until it is able to generate sufficient cash flow from operations on a sustained basis. There is substantial doubt that the Company will be successful at achieving these objectives. Failure to obtain the ongoing support of its shareholders and creditors may make the going concern basis of accounting inappropriate, in which case the Company’s assets and liabilities would need to be recognized at their liquidation values. These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts and classification of liabilities that might arise from this uncertainty.

Note 2_ Summary of Significant

Note 2: Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2018
Disclosure Text Block [Abstract]
Note 2: Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies a) Basis of presentation The Company is in the process of evaluating CaiE as a business opportunity and has minimal operating expenses. Our fiscal year end is December 31. The accompanying financial statements of Arvana Inc. for the years ended December 31, 2018 and 2017 have been prepared in accordance with accounting principles generally accepted in the United States (“US GAAP”) for financial information with the instructions to Form 10-K and Regulation S-K. Results are not necessarily indicative of results which may be achieved in the future. b) Estimates The preparation of 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 financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. c) Foreign currency translation and transactions Transactions conducted in foreign currencies are recorded using the exchange rate in effect on the transaction date. At the period end, monetary assets and liabilities are translated to the functional currency of each entity using the exchange rate in effect at the period end date. Transaction gains and losses are recorded in foreign exchange gain or loss in the statement of operations and comprehensive loss. d) Comprehensive income (loss) The Company considers comprehensive income (loss) as a change in equity (net assets) of a business entity during a period from transactions and other events and circumstances from non-owner sources. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners. e) Cash equivalents The Company considers all highly-liquid investments, with terms to maturity of three months or less when acquired, to be cash equivalents. The Company did not have any cash equivalents as at December 31, 2018. f) Financial instruments The Company uses the following methods and assumptions to estimate the fair value of each class of financial instruments for which it is practicable to estimate such values: Cash - the carrying amount approximates fair value because the amounts consist of cash held at a bank. Accounts payable and accrued liabilities, convertible loans, loans payable and amounts due to related parties - the carrying amount approximates fair value due to the short-term nature of the obligations. The estimated fair values of the Company's financial instruments as of December 31, 2018 and December 31, 2017 follows: December 31, 2018 December 31, 2017 Carrying Amount Fair Value Carrying Amount Fair Value Cash $ 815 $ 815 $ 4,730 $ 4,730 Accounts payable and accrued liabilities 1,012,714 1,012,714 1,075,409 1,075,409 Convertible loans 62,741 62,741 50,000 50,000 Loans payable to stockholders 583,593 583,593 600,651 600,651 Loans payable to related party 129,231 129,231 131,000 131,000 Loans payable 47,330 47,330 75,813 75,813 Amounts due to related parties $ 491,171 $ 491,171 $ 549,132 $ 549,132 The following table presents information about the assets that are measured at fair value on a recurring basis as of December 31, 2018, and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value. In general, fair values determined by Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets. Fair values determined by Level 2 inputs utilize data points that are observable such as quoted prices, interest rates and yield curves. Fair values determined by Level 3 inputs are unobservable data points for the asset or liability, and included situations where there is little, if any, market activity for the asset: December 31, 2018 Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Cash $ 815 $ 815 $ — $ — The fair value of cash is determined through market, observable and corroborated sources. g) Concentration of credit risk 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. 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 accounts. h) Income taxes A deferred tax asset or liability is recorded for all temporary differences between financial and tax reporting and net operating loss carry-forwards. Deferred tax expense (benefit) results from the net change during the year of deferred tax assets and liabilities. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. i) Stock-based compensation The Company accounts for all stock-based payments to employees and non-employees under ASC 718 “Stock Compensation,” using the fair value method. Under the fair value method, stock-based payments are measured at the fair value of the consideration received, or the fair value of the equity instruments issued, or liabilities incurred, whichever is more reliably measurable. The cost of stock-based payments to non-employees that are fully vested and non-forfeitable at the grant date is measured and recognized at that date. j) Beneficial conversion feature From time-to-time, the Company may issue convertible notes that may have conversion prices that create an embedded beneficial conversion feature. A beneficial conversion feature exists on the date a convertible note is issued when the fair value of the underlying common stock to which the note is convertible into is in excess of the remaining unallocated proceeds of the note after first considering the allocation of a portion of the note proceeds to the fair value of any attached equity instruments, if any related equity instruments were granted with the debt. The intrinsic value of the beneficial conversion feature is recorded as a debt discount with a corresponding amount to additional paid in capital. The debt discount is amortized to interest expense over the life of the note using the effective interest method. k) Earnings (loss) per share Basic earnings (loss) per share are computed using the weighted average number of common shares outstanding during the year. Diluted earnings (loss) per share are computed using the weighted average number of common shares and potentially dilutive common stock equivalents, including stock options and warrants. There were no outstanding stock options or warrants as at December 31, 2018 and 2017. l) Recent accounting pronouncements New and amended standards adopted by the Company There were no new and amended standards adopted by the Company during the year which had a material impact on the Company’s audited financial statements except the following: In November 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Updates ASU 2016-18, requiring that restricted cash and restricted cash equivalents be included with cash and cash equivalents when reconciling the beginning-of-period and end-of- period total cash amounts shown on the statement of cash flows. Consequently, transfers between cash and restricted cash is not presented as a separate line item in the operating, investing or financing sections of the cash flow statement. The amendments were effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The Company considers that ASU 2016-18 has had no impact on the presentation of the statement of cash flows. New standards and interpretations not yet adopted by the Company Several new standards and amendments to standards and interpretations are effective for annual periods beginning after the closing date of this report and have not been applied in preparing these audited financial statements: In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update 2016-02, Leases (Topic 842). In July 2018 and December 2018, FASB issued Accounting Standards Update 2018-11, and 2018-20, respectively. These standards require the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition. The standards require lessors to classify leases as either sales-type, finance or operating. A sales-type lease occurs if the lessor transfers all the risks and rewards, as well as control of the underlying asset, to the lessee. If risks and rewards are conveyed without the transfer of control, the lease is treated as a financing lease. If the lessor does not convey risks and rewards or control, which results in an operating lease. These standards will become effective for the Company beginning January 1, 2019. The Company believes there will be no material impact upon the adoption of these standards on its results of operations, financial condition, cash flows, and financial statement disclosures. In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Updates ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, requiring certain changes to the recognition and measurement as well as disclosure of incurred and expected credit losses. The standard will become effective for the Company beginning January 1, 2020. In November 2018, the FASB issued ASU 2018-19 to clarify certain aspects of the new current expected credit losses impairment model in ASU 2016-13. ASU 2018-19 points out that operating lease receivables are within the scope of ASC 842 rather than ASC 326. The Company is currently assessing the impact that the adoption of this standard will have on its results of operations, financial condition, cash flows, and financial statement disclosures. In July 2017, the Financial Accounting Standards Board (FASB) issued Accounting Standards Updates ASU 2017-11, requiring certain changes to the presentation and disclosures of changes to liability or equity classification of financial instruments. The amendments are effective for public business entities for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. The Company is currently assessing the impact that the adoption of this standard will have on its results of operations, financial condition, cash flows, and financial statement disclosures. In June 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Updates ASU 2018-07, requiring certain changes to nonemployee share-based payment accounting. The amendments are effective for public business entities for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. The Company is currently assessing the impact that the adoption of this standard will have on its results of operations, financial condition, cash flows, and financial statement disclosures. In August 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Updates ASU 2018-13, which changes the fair value measurement disclosure requirements of ASC 820. The amendments in this ASU are the result of a broader disclosure project called FASB Concepts Statement, Conceptual Framework for Financial Reporting — Chapter 8: Notes to Financial Statements. The amendments are effective for public business entities for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. The Company is currently assessing the impact that the adoption of this standard will have on its results of operations, financial condition, cash flows, and financial statement disclosures.

Note 3_ Loans Payable

Note 3: Loans Payable	12 Months Ended
	Dec. 31, 2018
Disclosure Text Block [Abstract]
Note 3: Loans Payable	As of December 31, 2018, the Company had received loans of $583,593 (€225,000; CAD$ 72,300; $273,107) (December 31, 2017 - $600,651: €225,000; CAD$ 72,300; $273,107) from stockholders, loans of $129,231 (CAD$ 27,600; $109,000) (December 31, 2017 – $131,000: CAD$ 27,600; $109,000) from a related party and loans of $47,330 (CAD$ 10,000; $40,000) (December 31, 2017 – $75,813: CAD$ 10,000; $67,800) from unrelated third parties. All of the loans bear interest at 6% per annum. The loans were made in 3 different currencies, Euros, Canadian Dollars and US Dollars. All amounts reflected on these financial statements are expressed in US Dollars. Repayment of the loans is due on closing of any future financing arrangement by the Company. The balance of accrued interest of $470,192 and $425,405 is included in accounts payable and accrued liabilities at December 31, 2018 and December 31, 2017, respectively. Interest expense recognized on these loans was $51,207 for the year ended December 31, 2018, compared to $45,970 for the year ended December 31, 2017, respectively.

Note 4_ Stock Options

Note 4: Stock Options	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Note 4: Stock Options	4. Stock Options At December 31, 2018 and December 31, 2017, there were no stock options outstanding. No options were granted, exercised or expired during the year ended December 31, 2018 or the year ended December 31, 2017.

Note 5_ Common Stock

Note 5: Common Stock	12 Months Ended
	Dec. 31, 2018
Disclosure Text Block [Abstract]
Note 5: Common Stock	5. Common Stock During the years ended December 31, 2018 and December 31, 2017, the Company issued nil shares and 148,900 shares, respectively. Shares issued during the year ended December 31, 2017 were valued at $0.23 a share, in exchange for the extinguishment of debt in the amount of $74,450, resulting in a gain on settlement of debt of $40,203, an amount comprised of principal and accrued interest on a loan from 2008.

Note 6_ Segmented Information

Note 6: Segmented Information	12 Months Ended
	Dec. 31, 2018
Disclosure Text Block [Abstract]
Note 6: Segmented Information	6. Segmented Information The Company has no reportable segments.

Note 7_ Income Taxes

Note 7: Income Taxes	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Note 7: Income Taxes	7. Income Taxes Income tax benefits attributable to losses from operations in the United States of America was $Nil for the years ended December 31, 2018 and 2017, and differed from the amounts computed by applying the United States of America combined federal and Utah tax rate of 24.91% to pretax losses from operations as a result of the following: 2018 2017 Income (loss) for the year before income taxes $ 93,510 $ (224,914 ) Computed expected tax expense (benefit) $ 23,294 $ (76,471 ) Non-deductible expenses (21,198 ) 40,926 Change in tax rates — 319,734 True up of prior-year provision to statutory tax returns — 530,084 Change in valuation allowance — (814,273 ) Income tax expense $ 2,096 $ —

Note 8_ Related Party Transacti

Note 8: Related Party Transactions and Amounts Due to Related Parties	12 Months Ended
	Dec. 31, 2018
Disclosure Text Block [Abstract]
Note 7: Related Party Transactions	8. Related Party Transactions and Amounts Due to Related Parties At December 31, 2018 and December 31, 2017, the Company had amounts due to related parties of $491,171 and $549,132, respectively. This amount includes $136,100 at December 31, 2018, and December 31, 2017, payable to two former directors and a current director for services rendered during 2007. This amount is to be paid part in cash and part in stock at a future date with the number of common shares determined by the fair value of the shares on the settlement date. The amounts owing bear no interest, are unsecured, and have no fixed terms of repayment. The Company incurred consulting fees of $11,819 (2017 - $8,981) paid to a company controlled by our chief executive officer during the year ended December 31, 2018. Our former chief executive officer and former director entered into a consulting arrangement on a month to month basis that provided for a monthly fee of CAD$5,000. These amounts have been accrued and are currently unpaid. This consulting arrangement ended on May 24, 2013. As of December 31, 2018, our former chief executive officer was owed $262,705 and $268,029 as of December 31, 2017 which are unsecured non-interest bearing amounts due on demand. Our former chief financial officer and former director had entered into a consulting agreement on a month to month basis that provides for a monthly fee of $2,000. These amounts have been accrued and are currently unpaid. This consulting arrangement ended on June 14, 2013. As of December 31, 2018 and December 31, 2017, our former chief financial officer was owed $58,870 for services rendered as an officer. Our former chief executive officer and former director entered into a debt assignment agreement effective January 1, 2012, with a corporation with a former director in common and thereby assigned $148,622 (CAD$202,759) of unpaid amounts payable. Our former chief executive officer and former director entered into a debt assignment agreement effective January 1, 2012, with an unrelated third party and thereby assigned $53,357 of unpaid amounts payable and $100,000 of unpaid loans. Our former chief executive officer and former director is owed $129,231 for unsecured amounts bearing 6% interest due on demand loaned to the Company as of December 31, 2018, compared to $131,000 as of December 31, 2017. Total interest expense of $70,711 (2017 - $63,608) is included in accounts payable and accrued liabilities as at December 31, 2018. Our other former officers are owed a total of $31,153 for their prior services rendered as officers as at December 31, 2018, compared to $86,133 as of December 31, 2017. As a result of the sale of subsidiaries (Note 10), $51,075 of amounts owed to former officers were derecognized, as these amounts were owed from the sold subsidiaries.

Note 9_ Convertible Loan

Note 9: Convertible Loan	12 Months Ended
	Dec. 31, 2018
Disclosure Text Block [Abstract]
Note: 8. Convertible Loan	9. Convertible Loans On May 18, 2016, the Company issued a convertible promissory note (“Convertible Note”) pursuant to which the Company received $50,000 from CaiE due on November 17, 2017. The $50,000 Convertible Note is convertible into common stock, in whole or in part, at any time and from time to time before maturity at the option of the holder at a fixed price of $0.20 per share. Due to the conversion price being lower than the closing share price on the issuance date, a beneficial conversion feature was recognized as a discount against the convertible note. The Convertible Note accrues interest at a rate equal to 10% per year. During the year ended December 31, 2018 and 2017, $nil and $14,583 of the discount was amortized as interest expense, respectively. Interest expense recognized on this loan was $5,000 for the year ended December 31, 2018, compared to $5,000 for the year ended December 31, 2017. As at December 31, 2018 and December 31, 2017, the balance of the Convertible Note was $50,000. On November 17, 2017, the Company entered into an amending agreement to extend the maturity date to March 31, 2018; all other terms remained unchanged. On March 31, 2018, the Company entered into an additional amending agreement to further extend the maturity date of the Convertible Note to March 31, 2019. All other terms remained unchanged. On October 12, 2018, the Company issued an additional convertible note with CaiE pursuant to which the Company received $27,800 during the year ended December 31, 2017 and $30,000 during the year ended December 31, 2018. The $57,800 convertible note is due on October 11, 2019 and is convertible into common stock, in whole or in part, at any time and from time to time before maturity at the option of the holder at a fixed price of $0.20 per share. Due to the conversion price being lower than the closing share price on the issuance date, a beneficial conversion feature was recognized as a discount against the convertible note. The convertible note accrues interest at a rate equal to 10% per year. During the year ended December 31, 2018 and 2017, $12,741 and $nil of the discount was amortized as interest expense, respectively. Interest expense recognized on this loan was $1,420 for the year ended December 31, 2018, compared to $nil for the year ended December 31, 2017. As at December 31, 2018 and December 31, 2017, the balance of the convertible note was $57,800 and $nil, respectively.

Note 10_ Sale of subsidiaries

Note 10: Sale of subsidiaries	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Sale of subsidiaries	10. Sale of Subsidiaries On September 24, 2018, the Company entered into a sale and purchase agreement with Nazleal S.A. (“Nazleal”) to dispose of the Company’s subsidiaries, Arvana Networks Inc., Arvana Participaçōes S.A. and Arvana Comunicações do Brasil S. A. (collectively, the “Subsidiaries”). Under the terms of the agreement, Nazleal purchased the Subsidiaries for €20,000 ($23,206) by executing a settlement and release agreement for the same amount pertaining to amounts previously payable by the Company to Nazleal. Effective September 30, 2018, Nazleal assumed all debts, obligations, and guarantees of the Subsidiaries, which totaled $1,822,152. Of this amount, $1,731,077 was written off (concurrently upon completion of the transaction), as these amounts represented amounts due to the Company from the Subsidiaries (previously eliminated on consolidation). The remaining $91,075 comprised $40,000 in accounts payable (due to arm’s length parties) and $51,075 in amounts due to related parties which were derecognized upon completion of the sale. As at December 31, 2018, the Subsidiaries had total assets of $44 which consisted solely of cash. The net effect of the above transactions resulted in a total gain to the Company of $114,237.

Note 11_ Subsequent Events

Note 11: Subsequent Events	12 Months Ended
	Dec. 31, 2018
Disclosure Text Block [Abstract]
Note 9: Subsequent Events	11. Subsequent Events The Company evaluated its December 31, 2018, financial statements for subsequent events through the date the financial statements were issued. The Company is not aware of any subsequent events which would require recognition or disclosure in the financial statements except as provided below: On January 14, 2019, the Company received an additional loan from CaiE in the amount of $5,600 with terms and conditions of this loan to be finalized at a later date.

Note 2_ Summary of Significan_2

Note 2: Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
Policy Text Block [Abstract]
Basis of presentation	a) Basis of presentation The Company is in the process of evaluating CaiE as a business opportunity and has minimal operating expenses. Our fiscal year end is December 31. The accompanying financial statements of Arvana Inc. for the years ended December 31, 2018 and 2017 have been prepared in accordance with accounting principles generally accepted in the United States (“US GAAP”) for financial information with the instructions to Form 10-K and Regulation S-K. Results are not necessarily indicative of results which may be achieved in the future.
Use of Estimates, Policy	b) Estimates The preparation of 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 financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Foreign currency translation and transactions	c) Foreign currency translation and transactions Transactions conducted in foreign currencies are recorded using the exchange rate in effect on the transaction date. At the period end, monetary assets and liabilities are translated to the functional currency of each entity using the exchange rate in effect at the period end date. Transaction gains and losses are recorded in foreign exchange gain or loss in the statement of operations and comprehensive loss.
Comprehensive income (loss)	d) Comprehensive income (loss) The Company considers comprehensive income (loss) as a change in equity (net assets) of a business entity during a period from transactions and other events and circumstances from non-owner sources. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners.
Cash equivalents	e) Cash equivalents The Company considers all highly-liquid investments, with terms to maturity of three months or less when acquired, to be cash equivalents. The Company did not have any cash equivalents as at December 31, 2018.
Financial instruments	f) Financial instruments The Company uses the following methods and assumptions to estimate the fair value of each class of financial instruments for which it is practicable to estimate such values: Cash - the carrying amount approximates fair value because the amounts consist of cash held at a bank. Accounts payable and accrued liabilities, convertible loans, loans payable and amounts due to related parties - the carrying amount approximates fair value due to the short-term nature of the obligations. The estimated fair values of the Company's financial instruments as of December 31, 2018 and December 31, 2017 follows: December 31, 2018 December 31, 2017 Carrying Amount Fair Value Carrying Amount Fair Value Cash $ 815 $ 815 $ 4,730 $ 4,730 Accounts payable and accrued liabilities 1,012,714 1,012,714 1,075,409 1,075,409 Convertible loans 62,741 62,741 50,000 50,000 Loans payable to stockholders 583,593 583,593 600,651 600,651 Loans payable to related party 129,231 129,231 131,000 131,000 Loans payable 47,330 47,330 75,813 75,813 Amounts due to related parties $ 491,171 $ 491,171 $ 549,132 $ 549,132 The following table presents information about the assets that are measured at fair value on a recurring basis as of December 31, 2018, and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value. In general, fair values determined by Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets. Fair values determined by Level 2 inputs utilize data points that are observable such as quoted prices, interest rates and yield curves. Fair values determined by Level 3 inputs are unobservable data points for the asset or liability, and included situations where there is little, if any, market activity for the asset: December 31, 2018 Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Cash $ 815 $ 815 $ — $ — The fair value of cash is determined through market, observable and corroborated sources.
Concentration of credit risk	g) Concentration of credit risk 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. 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 accounts.
Income taxes	h) Income taxes A deferred tax asset or liability is recorded for all temporary differences between financial and tax reporting and net operating loss carry-forwards. Deferred tax expense (benefit) results from the net change during the year of deferred tax assets and liabilities. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.
Stock-based compensation	i) Stock-based compensation The Company accounts for all stock-based payments to employees and non-employees under ASC 718 “Stock Compensation,” using the fair value method. Under the fair value method, stock-based payments are measured at the fair value of the consideration received, or the fair value of the equity instruments issued, or liabilities incurred, whichever is more reliably measurable. The cost of stock-based payments to non-employees that are fully vested and non-forfeitable at the grant date is measured and recognized at that date.
Beneficial conversion feature	j) Beneficial conversion feature From time-to-time, the Company may issue convertible notes that may have conversion prices that create an embedded beneficial conversion feature. A beneficial conversion feature exists on the date a convertible note is issued when the fair value of the underlying common stock to which the note is convertible into is in excess of the remaining unallocated proceeds of the note after first considering the allocation of a portion of the note proceeds to the fair value of any attached equity instruments, if any related equity instruments were granted with the debt. The intrinsic value of the beneficial conversion feature is recorded as a debt discount with a corresponding amount to additional paid in capital. The debt discount is amortized to interest expense over the life of the note using the effective interest method.
Earnings (loss) per share	k) Earnings (loss) per share Basic earnings (loss) per share are computed using the weighted average number of common shares outstanding during the year. Diluted earnings (loss) per share are computed using the weighted average number of common shares and potentially dilutive common stock equivalents, including stock options and warrants. There were no outstanding stock options or warrants as at December 31, 2018 and 2017.
Recent accounting pronouncements	l) Recent accounting pronouncements New and amended standards adopted by the Company There were no new and amended standards adopted by the Company during the year which had a material impact on the Company’s audited financial statements except the following: In November 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Updates ASU 2016-18, requiring that restricted cash and restricted cash equivalents be included with cash and cash equivalents when reconciling the beginning-of-period and end-of- period total cash amounts shown on the statement of cash flows. Consequently, transfers between cash and restricted cash is not presented as a separate line item in the operating, investing or financing sections of the cash flow statement. The amendments were effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The Company considers that ASU 2016-18 has had no impact on the presentation of the statement of cash flows. New standards and interpretations not yet adopted by the Company Several new standards and amendments to standards and interpretations are effective for annual periods beginning after the closing date of this report and have not been applied in preparing these audited financial statements: In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update 2016-02, Leases (Topic 842). In July 2018 and December 2018, FASB issued Accounting Standards Update 2018-11, and 2018-20, respectively. These standards require the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition. The standards require lessors to classify leases as either sales-type, finance or operating. A sales-type lease occurs if the lessor transfers all the risks and rewards, as well as control of the underlying asset, to the lessee. If risks and rewards are conveyed without the transfer of control, the lease is treated as a financing lease. If the lessor does not convey risks and rewards or control, which results in an operating lease. These standards will become effective for the Company beginning January 1, 2019. The Company believes there will be no material impact upon the adoption of these standards on its results of operations, financial condition, cash flows, and financial statement disclosures. In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Updates ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, requiring certain changes to the recognition and measurement as well as disclosure of incurred and expected credit losses. The standard will become effective for the Company beginning January 1, 2020. In November 2018, the FASB issued ASU 2018-19 to clarify certain aspects of the new current expected credit losses impairment model in ASU 2016-13. ASU 2018-19 points out that operating lease receivables are within the scope of ASC 842 rather than ASC 326. The Company is currently assessing the impact that the adoption of this standard will have on its results of operations, financial condition, cash flows, and financial statement disclosures. In July 2017, the Financial Accounting Standards Board (FASB) issued Accounting Standards Updates ASU 2017-11, requiring certain changes to the presentation and disclosures of changes to liability or equity classification of financial instruments. The amendments are effective for public business entities for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. The Company is currently assessing the impact that the adoption of this standard will have on its results of operations, financial condition, cash flows, and financial statement disclosures. In June 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Updates ASU 2018-07, requiring certain changes to nonemployee share-based payment accounting. The amendments are effective for public business entities for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. The Company is currently assessing the impact that the adoption of this standard will have on its results of operations, financial condition, cash flows, and financial statement disclosures. In August 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Updates ASU 2018-13, which changes the fair value measurement disclosure requirements of ASC 820. The amendments in this ASU are the result of a broader disclosure project called FASB Concepts Statement, Conceptual Framework for Financial Reporting — Chapter 8: Notes to Financial Statements. The amendments are effective for public business entities for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. The Company is currently assessing the impact that the adoption of this standard will have on its results of operations, financial condition, cash flows, and financial statement disclosures.

Note 2_ Summary of Significan_3

Note 2: Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2018
Disclosure Text Block [Abstract]
Estimated fair values	December 31, 2018 December 31, 2017 Carrying Amount Fair Value Carrying Amount Fair Value Cash $ 815 $ 815 $ 4,730 $ 4,730 Accounts payable and accrued liabilities 1,012,714 1,012,714 1,075,409 1,075,409 Convertible loans 62,741 62,741 50,000 50,000 Loans payable to stockholders 583,593 583,593 600,651 600,651 Loans payable to related party 129,231 129,231 131,000 131,000 Loans payable 47,330 47,330 75,813 75,813 Amounts due to related parties $ 491,171 $ 491,171 $ 549,132 $ 549,132
Fair Value, Assets Measured on Recurring Basis	December 31, 2018 Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Cash $ 815 $ 815 $ — $ —

Note 7_ Income Taxes (Tables)

Note 7: Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income tax benefits	2018 2017 Income (loss) for the year before income taxes $ 93,510 $ (224,914 ) Computed expected tax expense (benefit) $ 23,294 $ (76,471 ) Non-deductible expenses (21,198 ) 40,926 Change in tax rates — 319,734 True up of prior-year provision to statutory tax returns — 530,084 Change in valuation allowance — (814,273 ) Income tax expense $ 2,096 $ —

Note 1_ Nature of Business an_2

Note 1: Nature of Business and Ability To Continue As A Going (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Sep. 30, 2010	Oct. 16, 1998	Sep. 16, 1977
Disclosure Text Block [Abstract]
Net loss	$ 93,510	$ (224,914)	$ (62,531)
Working capital deficiency	$ (2,325,965)	$ (2,477,275)	$ (2,252,361)	$ (2,249,077)
Common stock authorized	5,000,000	5,000,000			5,000,000	100,000,000	2,500
Common stock authorized, par value	$ 0.001	$ 0.001			$ 0.001	$ 0.001	$ 0.25

Note 2_ Summary of Significan_4

Note 2: Summary of Significant Accounting Policies - Estimated Fair Value (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Cash	$ 815	$ 4,730
Accounts payable and accrued liabilities	1,012,714	1,075,409
Convertible loan	62,741	50,000
Amount due to related parties	541,927	549,132
Carrying Amount
Cash	815	4,730
Accounts payable and accrued liabilities	1,012,714	1,075,409
Convertible loan	62,741	50,000
Loans payable to stockholders	583,593	600,651
Loans payable to related party	129,231	131,000
Loans payable	47,330	75,813
Amount due to related parties	491,171	549,132
Fair Value
Cash	815	4,730
Accounts payable and accrued liabilities	1,012,714	1,075,409
Convertible loan	62,741	50,000
Loans payable to stockholders	583,593	600,651
Loans payable to related party	129,231	131,000
Loans payable	47,330	75,813
Amount due to related parties	$ 491,171	$ 549,132

Note 2_ Summary of Significan_5

Note 2: Summary of Significant Accounting Policies - Fair Value, Assets Measured on Recurring Basis (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Cash	$ 815	$ 4,730
Quoted Prices in Active Markets, Level 1 [Member]
Cash	815
Significant Other Observable Inputs, Level 2 [Member]
Cash
Significant Unobservable Inputs, Level 3 [Member]
Cash

Note 3_ Loan Payable (Details N

Note 3: Loan Payable (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Disclosure Text Block [Abstract]
Loans received from stockholders	$ 583,593	$ 600,651
Loans received from related parties	129,231	131,000
Loans received from unrelated third parties	$ 47,330	$ 75,813
Interst rate	6.00%	6.00%
Accrued interest	$ 470,192	$ 425,405
Inerest expenses	$ 63,948	$ 65,553

Note 5_ Common Stock (Details N

Note 5: Common Stock (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Disclosure Text Block [Abstract]
Shares issued during the period		148,900
Shares issued in exchange of extinguishment of debt		$ 74,450
Valuation of share		$ 0.23
Gain on settlement of debt		$ 40,203

Note 7_ Income Taxes - Income t

Note 7: Income Taxes - Income tax benefits (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Loss for the year before income taxes	$ 93,510	$ (224,914)
Computed expected tax expense (benefit)	23,294	(76,471)
Non-deductible expenses	(21,198)	40,926
Change in tax rates		319,734
True up of prior-year provision to statutory tax returns		530,084
Change in valuation allowance		(814,273)
Income tax expense	$ 2,096

Note 7_ Income Taxes (Details N

Note 7: Income Taxes (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Income tax benefits attributable to losses
Federal income tax rate	24.91%

Note 8_ Related Party Transac_2

Note 8: Related Party Transactions and Amounts Due to Related Parties (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Amounts due to related parties	$ 491,171	$ 549,132
Consulting fees	11,819	8,981
Due to related party	541,927	549,132
Amount owed to former officers eliminated	51,075
Interest expense	63,948	65,553
Two former directors and a current director
Due to related party	136,100	136,100
Former Chief Executive Officer [Member]
Due to related party	262,705	268,029
Former Chief Financial Officer [Member]
Amount owed for services renderd	58,870	58,870
Unrelated Third Party
Unpaid Loans	53,357
Loans payable to third party	100,000
Former Chief Executive Officer and Former Director [Member]
Loans payable to third party	129,231	131,000
Interest expense	70,711	63,608
Former other officer [Member]
Amount owed for services renderd	$ 31,153	$ 86,133

Note 9_ Convertible Loan (Detai

Note 9: Convertible Loan (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Oct. 12, 2018	May 17, 2016
Amortization of debt discount	$ 12,741	$ 14,583
Convertible Note	62,741	50,000
Inerest expenses	63,948	65,553
CaiE Food Partnership Ltd
Amortization of debt discount		14,583
Convertible Note			$ 27,800	$ 50,000
Common stock, per share price			$ 0.20	$ 0.20
Convertible Note, Interest				10.00%
Inerest expenses	5,000	5,000
CaiE Food Partnership Ltd (2)
Amortization of debt discount	12,741
Convertible Note	57,800
Cash received on issue of convertible note	30,000	27,800
Inerest expenses	$ 1,420

Note 10_ Sale of subsidiaries (

Note 10: Sale of subsidiaries (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Sep. 24, 2018
Notes to Financial Statements
Purchase price of subsidiaries			$ 23,206
Debts assumed by Nazleal	$ 1,822,152
Amount written off	1,731,077
Accounts payable, written off	40,000
Due to related parties, written off	51,075
Amount eliminated on completion of the sale	91,075
Gain on sale of subsidiaries	114,237
Cash disposed on sale of subsidiaries	$ (44)

Note 11_ Subsequent Events (Det

Note 11: Subsequent Events (Details Narrative)	Jan. 14, 2019USD ($)
CaiE Food Partnership Ltd
Loan received	$ 5,600