Company: MVNC
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001683168-25-008388
Chunk: 13

Company: Marvion Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 13
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 30, 
  
    Types of segments/revenue sources 
    Time of recognition 
    2025  
    2024  
    2025  
    2024 

    Supply chain segment: 

    Logistic service income 
    Point-in-time 
    $462,498  
    $204,333  
    $1,212,610  
    $468,142 
  
    Warehousing service income 
    Over time 
     425,070  
     134,638  
     1,093,710  
     403,229 

     887,568  
     339,071  
     2,306,320  
     871,371 

    Financial segment: 

    Financial consulting income 
    Point-in-time 
     60,536  
     51,204  
     172,575  
     148,222 
  
    Total revenues 
      
    $948,104  
    $390,275  
    $2,478,895  
    $1,019,593 

Income taxes

The Company adopted the
ASC 740 “Income tax” provisions of paragraph 740-10-25-13, which addresses the determination of whether tax benefits
claimed or expected to be claimed on a tax return should be recorded in the unaudited condensed consolidated financial statements. Under
paragraph 740-10-25-13, the Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that
the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits
recognized in the unaudited condensed consolidated financial statements from such a position should be measured based on the largest benefit
that has a greater than fifty percent (50%) likelihood of being realized upon ultimate settlement. Paragraph 740-10-25-13 also provides
guidance on de-recognition, classification, interest and penalties on income taxes, accounting in interim periods and requires increased
disclosures. The Company had no material adjustments to its liabilities for unrecognized income tax benefits according to the provisions
of paragraph 740-10-25-13.

The Company periodically
reviews the recoverability of deferred tax assets recorded on its unaudited condensed consolidated balance sheets and provides valuation
allowances as management deems necessary.

For the three and nine months