Company: MVNC
Filing Date: 2025-05-19
Form Type: 10-Q
Source: 0001683168-25-003814
Chunk: 12

Company: Marvion Inc.
Filing Date: 2025-05-19
Form: 10-Q
Item: Part I, Item 1
Chunk 12
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, 2025 and 2024, the Company did not have any interest and penalties associated with tax positions. As of March 31, 2025 and December
31, 2024, the Company did not have any significant unrecognized uncertain tax positions.

The Company is subject to tax
in local and foreign jurisdictions. As a result of its business activities, the Company files tax returns that are subject to examination
by the relevant tax authorities.

Segment reporting

Accounting Standards Codification
(“ASC”) 280, “Segment Reporting” establishes standards for reporting information about operating segments
on a basis consistent with the Company’s internal organizational structure as well as information about geographical areas, business
segments and major customers in unaudited condensed consolidated financial statements for details on the Company’s business segments.

The Company uses the management
approach to determine reportable operating segments. The management approach considers the internal organization and reporting used by
the Company’s chief operating decision maker (“CODM”), Mr. Chan Sze Yu (a chief executive officer of the Company), for
making decisions, allocating resources and assessing performance, as the following reportable segments.

    –          Supply chain segment
    Provision of logistic service and warehousing service
  
    –          Financial segment
    Provision of financial consulting service

Based on the management’s
assessment, the Company determined that it has two reportable operating segments, as defined by ASC 280. For the three months ended March
31, 2025 and 2024, all of the Company’s revenue and assets are locally generated in Hong Kong. Therefore, no geographical segments
are presented.

Uncertain tax positions

The Company did not take any
uncertain tax positions and had no adjustments to its income tax liabilities or benefits pursuant to the ASC 740 provisions of Section
740-10-25 for the three months ended March 31, 2025 and 2024.

Net income per share

The Company calculates net income
per share in accordance with ASC Topic 260, “Earnings per Share.” Basic income per share is computed by dividing the
net income by the weighted-average number of common shares outstanding during the period. Diluted income per share is computed similar
to basic income per share except that the denominator is increased to include the number of additional common shares that would have been
outstanding if the potential common stock equivalents had been issued and if the additional common shares were dilutive.

Foreign currencies translation

Transactions denominated in currencies
other than the functional