Company: MVNC
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001683168-25-008388
Chunk: 119

Company: Marvion Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 2
Chunk 119
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 $707,869, respectively, represents purchase of property
and equipment during the period.

Net Cash Provided by
Financing Activities

For the nine months ended
September 30, 2025, net cash provided by financing activities of $788,965 which consisted primarily of $503,094 advance from the Company’s
shareholder, $561,315 advance from the Company’s director, $125,654 repayment to the shareholder and $149,790 repayment to the director.

For the nine months ended
September 30, 2024, net cash provided by financing activities of $631,145 represented the advances made by the Company’s director.

All advances are interest-free
and repayable on demand.

Material Cash Requirements

As of September 30, 2025,
we had an accumulated deficit of $5,951,097. Our material cash requirements are highly dependent upon the additional financial support
from our major shareholders in the next 12 - 18 months.

We are not party to any
off-balance sheet transactions. We have no guarantees or obligations other than those which arise out of normal business operations.

 42 

Contractual Obligations and Commercial Commitments

On August 15, 2024, we,
UWMC and eleven shareholders of UWMC entered into a Share Exchange Agreement (the “SEA”) pursuant to which the shareholders
of UWMC agreed to transfer to us 4,000 shares of UWMC, constituting all of the issued and outstanding securities of UWMC, in exchange
for 148,148,148 shares of our common stock (the “Acquisition Shares”). In addition to the Acquisition Shares, we agreed to
make earnout payments in the aggregate amount of $5.5 million (collectively, the “Earn Out Payments”) upon UWMC’s achievement
of certain net income performance milestones during each six-month period ending June 30 and December 31 (each, a “Performance Period”)
for a total of nine Performance Periods. The Earn Out Payments will be payable in the form of interest free promissory notes and shared
equally among Chan Sze Yu, Fong Hiu Ching and Young Chi Kin Eric, who are also our shareholders.

As of September 30, 2025
and December 31, 2024, pursuant to the terms and calculations of the earnout provision, management has determined the final earnout of
$1 million and $1 million, respectively, being vested pursuant to the agreement