Company: MVNC
Filing Date: 2025-05-19
Form Type: 10-Q
Source: 0001683168-25-003814
Chunk: 68

Company: Marvion Inc.
Filing Date: 2025-05-19
Form: 10-Q
Item: Part I, Item 8
Chunk 68
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 related parties to the Company for operating
purposes. These balances due are unsecured, interest free and repayable on demand.

Related party transactions consisted
of the following:

In the ordinary course of business,
during the three months ended March 31, 2025 and 2024, the Company has involved with transactions, either at cost or current market price
and on the normal commercial terms among related parties. The following table provides the transactions with these parties for the periods
as presented (for the portion of such period that they were considered related):

The Company accrued service fee
of $3,856 (equal to HKD30,000) to a related company for delivery services.

Apart from the transactions and
balances detailed elsewhere in these accompanying unaudited condensed consolidated financial statements, the Company has no other significant
or material related party transactions during the periods presented.

     30 

17.        CONCENTRATIONS OF RISKS

The Company is exposed to the
following concentrations of risks:

    (a)
    Major customers

For the three months ended March
31, 2025 and 2024, the individual customer who accounted for 10% or more of the Company’s revenues and its outstanding receivable
balances at period-end dates, are presented as follows:

    Schedule of concentration of risk 

    Three Months ended March 31, 2025  
    March 31, 2025 
  
    Customer 
    Revenues  
    Percentage of revenues  
    Accounts receivable 
  
    Customer A 
    $193,329  
     30.16%  
    $– 
  
    Customer B 
    $161,957  
     25.27%  
    $– 
  
    Customer C 
    $134,964  
     21.05%  
    $44,993 
  
    Customer D 
    $76,545  
     11.94%  
    $24,138 
  
    Total 
    $566,795  
     88.42%  
    $69,131 

    Three Months ended March 31, 2024  
    March 31, 2024 
  
    Customer 
    Revenues  
    Percentage of revenues  
    Accounts receivable 
  
    Customer C 
    $134,271  
     49.88%  
    $44,733 
  
    Customer