Company: MVNC
Filing Date: 2025-05-19
Form Type: 10-Q
Source: 0001683168-25-003814
Chunk: 64

Company: Marvion Inc.
Filing Date: 2025-05-19
Form: 10-Q
Item: Part I, Item 8
Chunk 64
---
 160,000

    160,000

    $
    170,000

    $
    170,000

The Company issued convertible
notes to seven third parties, for which the proceeds were used for operations. Convertible note A and B carried interest at 5% per annum.
The convertible notes are convertible to shares of the Company’s common stock after 6 months of issuance unless such shares are
covered by a resale registration statement. The conversion rate is determined at $0.02 per share.

These convertible notes were
due on December 31, 2024. At the date of filing, the Company and these note holders are negotiating the final repayment plan.

     26 

13.        SHAREHOLDERS’
DEFICIT

Preferred stock

As of March 31, 2025 and December
31, 2024, the Company’s authorized shares were 30,000,000,000 shares of preferred stock, with a par value of $0.0001.

As of March 31, 2025 and December
31, 2024, the Company had 10,000,000 and 10,000,000 shares of Series A Preferred Stock issued and outstanding, respectively.

As of March 31, 2025 and December
31, 2024, the Company had 366,346 and 366,346 shares of Series B Preferred Stock issued and outstanding, respectively.

As of March 31, 2025 and December
31, 2024, the Company had 1 and 1 share of Series C Preferred Stock issued and outstanding, respectively.

Common stock

As of March 31, 2025 and December
31, 2024, the Company’s authorized shares were 270,000,000,000 shares of common stock, with a par value of $0.0001.

On March 11, 2025, the Company
issued 31,430,316 shares of its common stock to certain consultants to settle their fees payable due and recognized at December 31, 2024.

As of March 31, 2025 and December
31, 2024, the Company had 340,389,151 and 308,958,835 shares of common stock issued and outstanding, respectively.

14.        NET INCOME PER SHARE

The calculation of the basic
and diluted net income per share attributable to common stockholders of the Company is based on the following data (