Nature of Business and Ability to Continue as a Going Concern	9 Months Ended
Sep. 30, 2021
Nature Of Business And Ability To Continue As Going Concern
Nature of Business and Ability to Continue as a Going Concern	1. Nature of Business and Ability to Continue as a Going Concern The Company was incorporated in the State of Nevada on June 16, 1977, as “Turinco, Inc.”, and on July 24, 2006, changed its name to Arvana Inc. to reflect the acquisition of a telecommunications business. We discontinued efforts related to our telecommunications business as of December 31, 2009. The Company is presently focused on evaluating business opportunities for merger or acquisition sufficient to support operations and increase stockholder value. We entered into a non-binding memorandum of understanding on March 17, 2016, with the intent of acquiring a fresh food manufacturer and distributor. On November 11, 2020, we notified the acquisition target that the Company was no longer interested in pursuing the acquisition of its business given the delays attendant to the prospective transaction. On May 21, 2021, the Company entered into a non-binding term sheet with the intention of acquiring a multi-media platform and prospectively other businesses. The term sheet required that the owner of the acquisition target first secure voting control of the Company as pre-condition to his facilitating a transaction. The owner effectively secured voting control on June 30, 2021. On October 26, 2021, the Company entered into a recission agreement and mutual release with the owner of the intended acquisition due to being unable to agree on the structure of the prospective transaction. These condensed interim financial statements have been prepared on a going concern basis, which assumes the realization of assets and the settlement of liabilities in the normal course of business. For the nine-month period ended September 30, 2021, the Company recognized a net loss and realized a working capital deficiency, which deficiency raises substantial doubt about its ability to continue as a going concern. The Company will continue to require financial support from stockholders and creditors until able to generate its own cash flow from operations. Failure to obtain the ongoing support of stockholders and creditors may indicate that the preparation of these financial statements on a going concern basis is inappropriate, in which case the Company’s assets and liabilities would need to be recognized at their liquidation values. The Company’s financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts and liabilities that might arise from this uncertainty.

Nature of Business and Ability to Continue as a Going Concern

9 Months Ended

Sep. 30, 2021

Nature Of Business And Ability To Continue As Going Concern

Nature of Business and Ability to Continue as a Going Concern

1. Nature of Business and Ability to Continue as a Going Concern

The Company was incorporated in the State of Nevada on June 16, 1977, as “Turinco, Inc.”, and on July 24, 2006, changed its name to Arvana Inc. to reflect the acquisition of a telecommunications business. We discontinued efforts related to our telecommunications business as of December 31, 2009. The Company is presently focused on evaluating business opportunities for merger or acquisition sufficient to support operations and increase stockholder value.

We entered into a non-binding memorandum of understanding on March 17, 2016, with the intent of acquiring a fresh food manufacturer and distributor. On November 11, 2020, we notified the acquisition target that the Company was no longer interested in pursuing the acquisition of its business given the delays attendant to the prospective transaction.

On May 21, 2021, the Company entered into a non-binding term sheet with the intention of acquiring a multi-media platform and prospectively other businesses. The term sheet required that the owner of the acquisition target first secure voting control of the Company as pre-condition to his facilitating a transaction. The owner effectively secured voting control on June 30, 2021. On October 26, 2021, the Company entered into a recission agreement and mutual release with the owner of the intended acquisition due to being unable to agree on the structure of the prospective transaction.

These condensed interim financial statements have been prepared on a going concern basis, which assumes the realization of assets and the settlement of liabilities in the normal course of business.

For the nine-month period ended September 30, 2021, the Company recognized a net loss and realized a working capital deficiency, which deficiency raises substantial doubt about its ability to continue as a going concern. The Company will continue to require financial support from stockholders and creditors until able to generate its own cash flow from operations.

Failure to obtain the ongoing support of stockholders and creditors may indicate that the preparation of these financial statements on a going concern basis is inappropriate, in which case the Company’s assets and liabilities would need to be recognized at their liquidation values. The Company’s financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts and liabilities that might arise from this uncertainty.