Company: MVNC
Filing Date: 2025-05-19
Form Type: 10-Q
Source: 0001683168-25-003814
Chunk: 65

Company: Marvion Inc.
Filing Date: 2025-05-19
Form: 10-Q
Item: Part I, Item 8
Chunk 65
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in dollars, except
share data):

    Schedule of basic and diluted net loss income per share 

    Three Months ended March 31, 

    2025  
    2024 

    Net income attributable to common shareholders 
    $6,977  
    $40,512 

    Weighted average common shares outstanding – Basic and diluted 
     315,943,350  
     148,148,150 

    Net income per share – Basic and diluted # 
    $0.00  
    $0.00 

    #
    For net income per share during the three months ended March 31, 2025 and 2024, basic and diluted net income per share was less than $0.01.

     27 

15.        INCOME
TAX

For the three months ended March
31, 2025 and 2024, the local (“United States of America”) and foreign components of (loss) income before income taxes were
comprised of the following:

    Schedule of income (loss) before income tax 

    Three Months Ended March 31, 

    2025  
    2024 
  
    Tax jurisdiction from: 

    - Local 
    $(136,104) 
    $– 
  
    - Foreign, including 

    British Virgin Islands 
     –  
     – 
  
    Hong Kong 
     151,504  
     54,136 
  
    Income before income taxes 
    $15,400  
    $54,136 

The provision for income taxes consisted of the following:

    Schedule of provision for income taxes 

    Three Months Ended March 31, 

    2025  
    2024 
  
    Current: 

    - Local 
    $–  
    $– 
  
    - Foreign 
     8,423  
     13,624 

    Deferred: 

    - Local 
     –  
     – 
  
    - Foreign 
     –  
     – 
  
    Income tax expense 
    $8,423  
    $13,624 

The effective tax rate in the
periods presented is the result of the mix of income earned in various tax jurisdictions that apply a broad range of income tax rates.
The Company has operations in Hong Kong that are subject to taxes