Company: MVNC
Filing Date: 2025-05-19
Form Type: 10-Q
Source: 0001683168-25-003814
Chunk: 55

Company: Marvion Inc.
Filing Date: 2025-05-19
Form: 10-Q
Item: Part I, Item 8
Chunk 55
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2024 
  
    Period-end HKD:US$ exchange rate 
     0.1286  
     0.1278 
  
    Period average HKD:US$ exchange rate 
     0.1285  
     0.1279 

Comprehensive income

ASC Topic 220, “Comprehensive
Income”, establishes standards for reporting and display of comprehensive income, its components and accumulated balances. Comprehensive
income as defined includes all changes in equity during a period from non-owner sources. Accumulated other comprehensive income, as presented
in the accompanying unaudited condensed consolidated statements of changes in stockholders’ deficit, consists of changes in unrealized
gains and losses on foreign currency translation. This comprehensive income is not included in the computation of income tax expense or
benefit.

Related parties

The Company follows the ASC 850-10,
“Related Party Disclosures” for the identification of related parties and disclosure of related party transactions.

Pursuant to section 850-10-20
the related parties include a) affiliates of the Company; b) entities for which investments in their equity securities would be required,
absent the election of the fair value option under the Fair Value Option Subsection of section 825-10-15, to be accounted for by the equity
method by the investing entity; c) trusts for the benefit of employees, such as pension and Income-sharing trusts that are managed by
or under the trusteeship of management; d) principal owners of the Company; e) management of the Company; f) other parties with which
the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent
that one of the transacting parties might be prevented from fully pursuing its own separate interests; and g) other parties that
can significantly influence the management or operating policies of the transacting parties or that have an ownership interest in one
of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be
prevented from fully pursuing its own separate interests.

The unaudited condensed consolidated
financial statements shall include disclosures of material related party transactions, other than compensation arrangements, expense allowances,
and other similar items in the ordinary course of business. However, disclosure of transactions that are eliminated in the preparation
of unaudited condensed consolidated or combined financial statements is not required in those statements. The disclosures shall include:
a) the nature of the