Company: MVNC
Filing Date: 2025-05-19
Form Type: 10-Q
Source: 0001683168-25-003814
Chunk: 54

Company: Marvion Inc.
Filing Date: 2025-05-19
Form: 10-Q
Item: Part I, Item 8
Chunk 54
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 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 currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction.
Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency
using the applicable exchange rates at the balance sheet dates. The resulting exchange gain (loss) are recorded in the unaudited condensed
consolidated statement of operations.

     19 

The reporting currency of the
Company is US$ and the accompanying unaudited condensed consolidated financial statements have been expressed in US$. In addition, the
Company is operating in Hong Kong and maintains its books and record in its local currencies, HKD, which are their respective functional
currencies, being the primary currency of the economic environment in which their operations are conducted. In general, for consolidation
purposes, assets and liabilities of its subsidiaries whose functional currency is not US$ are translated into US$, in accordance with
ASC Topic 830-30, “Translation of Financial Statement”, using the exchange rate on the balance sheet date. Revenues
and expenses are translated at average rates prevailing during the year. The gains and losses resulting from translation of financial
statements of foreign subsidiaries are recorded as a separate component of accumulated other comprehensive income within the unaudited
condensed consolidated statements of changes in shareholders’ deficit.

Translation of amounts from HKD
into US$ has been made at the following exchange rates for the period ended March 31, 2025 and 2024:

    Schedule of translation rates 

    March 31, 2025  
    March 31,