Company: MVNC
Filing Date: 2025-05-19
Form Type: 10-Q
Source: 0001683168-25-003814
Chunk: 35

Company: Marvion Inc.
Filing Date: 2025-05-19
Form: 10-Q
Item: Part I, Item 1
Chunk 35
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 their products to customers in Hong Kong. With our extensive experience in handling local furniture delivery, our logistic services
can generate higher-margin storage, delivery, and assembly contracts, as a one-stop service. Leveraging existing e-commerce platforms’
markets reduce our costs to get more orders while giving us exposure to 84% of Hong Kong’s online shoppers. (Statista 2027 Forecast).
We are deferring our previous E-Commerce platform plan due to the near-term market volatility due to the global tariff war. We will retain
the infrastructure built and the efforts spent to look for the opportunity to re-enter into this market once market condition becomes
more stable. We still see long term upward opportunities in the E-Commerce market.

 37 

Results of Operations.

Three Months Ended March 31,
2025, as compared to Three Months Ended March 31, 2024

The following table sets forth
selected financial information from our statements of comprehensive income for the three months ended March 31, 2025 and 2024:

    Three Months Ended March 31, 

    2025  
    2024 

    Revenues, net 
    $641,023  
    $269,209 
  
    Cost of revenues 
     (319,004) 
     (144,857)
  
    Gross profit 
     322,019  
     124,352 
  
    Operating expenses: 

    General and administrative expenses 
     (259,779) 
     (70,699)
  
    Total operating expenses 
     (259,779) 
     (70,699)
  
    Income from operations 
     62,240  
     53,653 
  
    Interest expense 
     (47,115) 
     – 
  
    Other income 
     275  
     483 
  
    Income before income taxes 
     15,400  
     54,136 
  
    Income tax expense 
     (8,423) 
     (13,624)
  
    Net income 
    $6,977  
    $40,512 

Revenues

The Company currently generates three sources
of revenue: 

    Three Months Ended March 31, 

    2025  
    2024 

    Logistic service income 
    $288,770  
    $107,548 
  
    Warehousing service income