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

Company: Marvion Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 25
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 Company’s obligation
to make lease payments are included in “Lease liabilities” on the unaudited condensed consolidated balance sheets.

Supplemental balance sheet
information related to operating leases was as follows:

    Schedule of supplemental balance sheet information 

    As of 

    September 30, 2025  
    December 31, 2024 
  
    Operating lease: 

    Right-of-use assets, net 
    $1,152,514  
    $1,244,794 

    Lease liabilities: 

    Current lease liabilities 
    $101,953  
    $97,857 
  
    Non-current lease liabilities 
     1,175,067  
     1,254,618 

    Total lease liabilities 
    $1,277,020  
    $1,352,475 

Operating lease expense
for the three months ended September 30, 2025 and 2024 was $29,766 and $29,853, respectively.

Operating lease expense
for the nine months ended September 30, 2025 and 2024 was $89,524 and $89,408, respectively.

Other supplemental information
about the Company’s operating lease as of:

    Schedule of other supplemental information 

    September 30, 2025  
    December 31, 2024 
  
    Weighted average discount rate 
     5.75%  
     5.75% 
  
    Weighted average remaining lease term (years) 
     10.13  
     10.88 

     24 

Operating lease commitments:

The following table summarizes
the future minimum lease payments due under the Company’s operating leases in the next five years, as of September 30, 2025:

    Schedule of future minimum lease payments 

    Year ending September 30, 

    2026 
    $172,722 
  
    2027 
     172,722 
  
    2028 
     172,722 
  
    2029 
     169,638 
  
    2030 
     154,216 
  
    Thereafter 
     848,191 
  
    Total minimum finance lease liabilities payment 
     1,690,211 
  
    Less: imputed interest 
     (413,191)

    Future minimum lease liabilities 
    $1,277,020 

10