Company: MVNC
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001683168-25-008388
Chunk: 85

Company: Marvion Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 85
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 Management’s Discussion and Analysis
of Financial Condition and Results of Operations.

The following discussion
and analysis of our Company’s financial condition and results of operations should be read in conjunction with our unaudited condensed
consolidated financial statements and the related notes included elsewhere in the report. This discussion contains forward-looking statements
that involve risks and uncertainties. Actual results and the timing of selected events could differ materially from those anticipated
in these forward-looking statements as a result of various factors. See “Cautionary Note Concerning Forward-Looking Statements”
on page 9.

Unless otherwise noted,
all currency figures quoted as “U.S. dollars”, “dollars” or “$” refer to the legal currency of the
United States. Throughout this report, assets and liabilities of the Company’s subsidiaries are translated into U.S. dollars using
the exchange rate on the balance sheet date. Revenue and expenses are translated at average rates prevailing during the period. The gains
and losses resulting from translation of financial statements of foreign subsidiaries are recorded as a separate component of accumulated
other comprehensive loss within the unaudited condensed consolidated statements of changes in shareholders’ deficit.

Unless indicated otherwise,
throughout this Quarterly Report on Form 10-Q, we refer to Marvion Inc. and its consolidated subsidiaries, as “MVNC,” “we,”
“us” and “our.”

Numerical information in
this report is presented on a rounded basis using actual amounts. Minor differences in totals and percentage calculations may exist due
to rounding. 

Description of Business

Marvion Inc. was incorporated
in the State of Nevada on March 6, 2008. The Company and its subsidiaries are hereinafter referred to as (the “Company”).
Marvion Inc. is not a Hong Kong operating company but a Nevada holding company with operations conducted through its wholly owned subsidiaries
based in the British Virgin Islands and Hong Kong. Our investors hold shares of common stock in Marvion Inc., the Nevada holding company.

On August 15, 2024, the
Company and United Warehouse Management Corp., a British Virgin Island corporation (“UWMC”) and eleven shareholders of UWMC
entered into a Share Exchange Agreement (the “SEA”) pursuant to which the shareholders of UWMC agreed to transfer to the Company
4,000 shares of UWMC, constituting all of the issued and outstanding securities of UWMC, in exchange for 148,148,150 shares of common
stock of the Company, par value $