Company: MVNC
Filing Date: 2025-05-19
Form Type: 10-Q
Source: 0001683168-25-003814
Chunk: 93

Company: Marvion Inc.
Filing Date: 2025-05-19
Form: 10-Q
Item: Part I, Item 2
Chunk 93
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-enter into this market once market condition becomes
more stable. We still see long term upward opportunities in the E-Commerce market.

 37 

Results of Operations.

Three Months Ended March 31,
2025, as compared to Three Months Ended March 31, 2024

The following table sets forth
selected financial information from our statements of comprehensive income for the three months ended March 31, 2025 and 2024:

    Three Months Ended March 31, 

    2025  
    2024 

    Revenues, net 
    $641,023  
    $269,209 
  
    Cost of revenues 
     (319,004) 
     (144,857)
  
    Gross profit 
     322,019  
     124,352 
  
    Operating expenses: 

    General and administrative expenses 
     (259,779) 
     (70,699)
  
    Total operating expenses 
     (259,779) 
     (70,699)
  
    Income from operations 
     62,240  
     53,653 
  
    Interest expense 
     (47,115) 
     – 
  
    Other income 
     275  
     483 
  
    Income before income taxes 
     15,400  
     54,136 
  
    Income tax expense 
     (8,423) 
     (13,624)
  
    Net income 
    $6,977  
    $40,512 

Revenues

The Company currently generates three sources
of revenue: 

    Three Months Ended March 31, 

    2025  
    2024 

    Logistic service income 
    $288,770  
    $107,548 
  
    Warehousing service income 
     286,944  
     134,271 
  
    Financial consulting income 
     65,309  
     27,390 

    $641,023  
    $269,209 

All of our revenues are derived in Hong Kong.

Revenues from logistic solution
services to the customers, in which such local transportation, delivery and packaging services at the time the customers require packed
products to be shipped by the Company to domestic destinations designed by the customers. The Company’s performance obligation has
been satisfied when the products been delivered to the designated recipient and confirmed