Company: MVNC
Filing Date: 2025-05-19
Form Type: 10-Q
Source: 0001683168-25-003814
Chunk: 73

Company: Marvion Inc.
Filing Date: 2025-05-19
Form: 10-Q
Item: Part I, Item 8
Chunk 73
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 its the lifestyle, media and entertainment creation
and distribution, and technology businesses.

Chan Sze Yu is our Chief Executive
Officer, Chief Financial Officer, Secretary and Director, Young Chi Kin Eric holds 10,000,000 shares of the Company’s Series A Preferred
Stock which entitles him to vote on all matters submitted to a vote of the shareholders together with the Common Stock holders with each
one share of Series A Preferred Stock having 200 votes.

 34 

The foregoing descriptions of
the SEA and the Promissory Notes are qualified in their entirety by reference to the SEA and the Promissory Notes, which are filed as
Exhibits 10.1 through and including 10.4 and incorporated herein by reference.

The share exchange transaction
has been accounted for as a reverse merger and recapitalization of the Company, whereby UWMC is deemed to be the accounting acquirer (legal
acquiree) and the Company to be the accounting acquiree (legal acquirer). Accordingly, the consolidated assets, liabilities and results
of operations of the Company will become the historical financial statements of UWMC, and the Company’s assets, liabilities and
results of operations will be consolidated with UWMC beginning on the date of the share exchange transaction. No goodwill is recognized
in this transaction. The historical financial statements prior to the share exchange transaction are those of the accounting acquirer
(UWMC). Historical stockholders’ equity of the accounting acquirer prior to the reverse merger are retroactively restated (a recapitalization)
for the equivalent number of shares received in the merger. Operations prior to the merger are those of the acquirer. After completion
of the share exchange transaction, the Company’s accompanying unaudited condensed consolidated financial statements have been restated
for all periods presented accordingly.

We are currently engaged
in the logistic, warehousing service and financial consulting services in Hong Kong. Our businesses are operated through three subsidiaries
organized in Hong Kong: KSK Logistic Limited (“KSK”), United Warehouse Management Limited (“UWML”) and Propose
Enterprise Limited (“PEL”), which provide the following services:

    ·
    KSK: Provides logistics services for last mile deliveries for retail and business customers;

    ·
    UWML: Provides warehousing and distribution services; and

    ·
    PEL: Provides business advisory solutions to customers.

In addition to our logistics,
warehousing and delivery services, we are utilizing our warehouse facilities to build up solar photovoltaic system