Nature of Business and Ability to Continue as a Going Concern	3 Months Ended
Mar. 31, 2022
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. On March 17, 2016, the Company signed a non-binding memorandum of understanding intent on acquiring a fresh food manufacturer and distributor. On November 11, 2020, we notified the intended target that the Company was no longer interested in pursuing the acquisition of its business due to the delays attendant to the prospective transaction. On May 21, 2021, the Company signed a non-binding term sheet intent on acquiring a multi-media platform. The term sheet required that the owner of the acquisition target first secure voting control of the Company as a pre-condition to his facilitating a transaction. The owner effectively secured voting control on June 30, 2021. On October 26, 2021, the Company signed a recission agreement and mutual release with the owner of the intended acquisition, as the parties were 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 three-month period ended March 31, 2022, the Company recognized net loss of $8,830 as a result of general administrative expenses, professional fees and interest expenses. The Company had a working capital deficiency of $110,415 as of March 31, 2022. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The World Health Organization declared coronavirus COVID-19 a global pandemic in March 2020. COVID-19 is a contagious disease that has adversely affected workforces, economies, and financial markets around the world. The Company can neither predict the duration or the magnitude of adverse results connected to COVID-19, nor can it predict the effect, if any, COVID-19 will have on its search to identify a business opportunity or its ability to attract sufficient capital to sustain operations. The Company’s present intention is to identify, evaluate and secure a business opportunity to create value for its stockholders. During this search the Company will require continued financial support from stockholders and creditors until it is able to generate net cash flow from operations. While the Company is confident that a business opportunity will be identified, the insufficiency of its financial resources casts substantial doubt on whether it will be able to fulfill this objective. 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

3 Months Ended

Mar. 31, 2022

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.

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

On May 21, 2021, the Company signed a non-binding term sheet intent on acquiring a multi-media platform. The term sheet required that the owner of the acquisition target first secure voting control of the Company as a pre-condition to his facilitating a transaction. The owner effectively secured voting control on June 30, 2021. On October 26, 2021, the Company signed a recission agreement and mutual release with the owner of the intended acquisition, as the parties were 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 three-month period ended March 31, 2022, the Company recognized net loss of $8,830 as a result of general administrative expenses, professional fees and interest expenses. The Company had a working capital deficiency of $110,415 as of March 31, 2022. These conditions raise substantial doubt about the Company’s ability to continue as a going concern.

The World Health Organization declared coronavirus COVID-19 a global pandemic in March 2020. COVID-19 is a contagious disease that has adversely affected workforces, economies, and financial markets around the world. The Company can neither predict the duration or the magnitude of adverse results connected to COVID-19, nor can it predict the effect, if any, COVID-19 will have on its search to identify a business opportunity or its ability to attract sufficient capital to sustain operations.

The Company’s present intention is to identify, evaluate and secure a business opportunity to create value for its stockholders. During this search the Company will require continued financial support from stockholders and creditors until it is able to generate net cash flow from operations. While the Company is confident that a business opportunity will be identified, the insufficiency of its financial resources casts substantial doubt on whether it will be able to fulfill this objective.

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.