Company: MVNC
Filing Date: 2025-05-19
Form Type: 10-Q
Source: 0001683168-25-003814
Chunk: 0

Company: Marvion Inc.
Filing Date: 2025-05-19
Form: 10-Q
Item: Part I, Item 1
Chunk 0
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MARVION INC. AND SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(Currency expressed in United States Dollars (“US$”),
except for number of shares)

    March 31, 2025 (Unaudited)  
    December 31, 2024 (Audited) 
  
    ASSETS 

    Current assets: 

    Cash and cash equivalents 
    $368,791  
    $322,426 
  
    Accounts receivable, net 
     329,128  
     312,200 
  
    Prepaid expenses and other current assets 
     3,894  
     16,773 
  
    Total current assets 
     701,813  
     651,399 

    Non-current assets: 

    Construction in progress 
     800,252  
     399,780 
  
    Property and equipment, net 
     1,698,102  
     1,739,468 
  
    Right-of-use assets, net 
     1,212,704  
     1,244,794 
  
    Total non-current assets 
     3,711,058  
     3,384,042 

    TOTAL ASSETS 
    $4,412,871  
    $4,035,441 

    LIABILITIES AND SHAREHOLDERS’ DEFICIT 

    Current liabilities: 

    Accounts payable 
    $94,453  
    $117,956 
  
    Accrued liabilities and other payables 
     662,002  
     1,161,150 
  
    Amount due to director 
     1,155,937  
     1,088,838 
  
    Amount due to shareholder 
     858,765  
     826,716 
  
    Construction payable 
     514,203  
     342,540 
  
    Contract liabilities 
     27,638  
     – 
  
    Convertible notes payable 
     170,000  
     170,000 
  
    Promissory notes payable 
     16  
     16 
  
    Earn-out payable 
     1,000,000  
     1,000,000 
  
    Lease liabilities 
     99,099  
     97,857