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Subsequent Events
9 Months Ended
Sep. 30, 2022
Subsequent Events [Abstract]  
Subsequent Events

Note 8 - Subsequent Events

The Company evaluated its September 30, 2022, financial statements for subsequent events through the date the financial statements were issued. The Company is aware of the following subsequent events which would require recognition or disclosure in the financial statements.

On October 15, 2022, the Company granted an aggregate of 650,000 incentive and non-qualified stock options with an exercise price of $0.26 a share from the Arvana 2022 Stock Incentive Plan to its officers and directors of which 150,000 stock options vest in equal increments annually over a five-year period, and 500,000 stock options vest in equal increments annually over a two-year period..

On October 25, 2022, the Company granted an aggregate of 2,000,000 non-qualified stock options with an exercise price of $0.28 a share from the Arvana 2022 Stock Incentive Plan to its certain consultants which vest in equal increments annually over a three-year period.

On November 16, 2022, the Company entered into a business purchase agreement to acquire a fishing charter business in exchange for a cash payment on closing and a two-year secured promissory note. The parties expect to close the transaction in January of 2023.