Arvana Inc.

What they do

Arvana was incorporated in 1977 and historically operated a telecommunications business that was discontinued in 2009. On February 3, 2023 it acquired Down 2 Fish Charters, LLC, a Florida-based fishing charter business operating from a private dock in Palmetto, Florida serving the Tampa Bay area, for $50,000 plus a $700,000 secured promissory note. On August 15, 2025 the Company spun off Down2Fish by transferring its assets and liabilities back to the seller after defaulting on that note. The Company now trades on the OTCID Basic Market under the symbol AVNI and is seeking real estate development opportunities.

Revenue drivers

• Fishing charter services (discontinued) — Down2Fish generated revenue from the sale and provision of inshore, offshore, sight-seeing and custom fishing charters, reporting total revenue of $67,964 in 2024 and $68,276 in 2023. This business was transferred back to the seller on August 15, 2025.
• Marine equipment lease (discontinued) — Revenue also included part-time lease revenue from the lease of marine equipment to a related party; this ceased with the Down2Fish spinoff.
• No current revenue source — Following the spinoff, the Company has no operating business and reported no continuing revenue; management expects to begin generating revenue again only after completing an acquisition.

Recent performance

Total revenue was $84,378 for the nine months ended September 30, 2025, up 50.8% from $55,964 in the prior-year period, but fell 51.2% to $8,850 in the third quarter of 2025 from $18,134. Cost of services was $31,127 for the nine months and gross profit was $53,251. Operating expenses surged to $1,121,845 for the nine months ended September 30, 2025 from $309,957 a year earlier, producing an operating loss of $1,068,594 and a net loss of $1,471,621. For fiscal 2024 the Company reported revenue of $67,964, gross profit of $33,644, an operating loss of $372,592 and a net loss of $447,495.

Strategy

Management's stated plan is to pursue real estate development, specifically acquiring and repurposing vacant shopping malls, outlet locations and big box stores into retail space for tenants whose goods or services are not available online. This follows the December 2023 non-binding memorandum of understanding with FirstShot Centers, LLC, which the parties have since ended discussions on; management says it is evaluating alternative options for the same business model. Before the spinoff, the plan was to expand Down2Fish marketing around Tampa Bay into new offerings such as dolphin tours, which would require capital for an additional vessel and equipment. With the spinoff completed, management states it is looking into various real estate development opportunities.

Risks

• No operating business — The Down2Fish spinoff on August 15, 2025 left the Company without any revenue-generating operations, and management states charter revenue has ceased and will not continue in future periods.
• Severe liquidity strain — The Company reported cash and equivalents of $0.00 at September 30, 2025, total liabilities of $1.8 million against total assets of $523,125, and negative shareholder equity of $1.3 million.
• Default-driven asset transfer — The Down2Fish assets and liabilities were transferred back to the seller because the Company defaulted on the $700,000 promissory note from the original acquisition, showing limited ability to meet acquisition-related obligations.
• Uncertain acquisition path — The proposed FirstShot Centers transaction was never reduced to a definitive agreement and discussions have ended, leaving the real estate strategy without a committed target or financing plan.

Outlook

Management says it expects to begin generating revenue again after completing an acquisition, and is evaluating real estate development opportunities centered on acquiring and repurposing vacant big box stores. The Company states it will continue to seek business opportunities in real estate development now that the spinoff is complete. No definitive agreement, financing commitment or timeline for a new transaction has been disclosed.