Company: MVNC
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001683168-25-008388
Chunk: 0

Company: Marvion Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 0
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MARVION INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(Currency expressed in United States Dollars
(“US$”), except for number of shares)

    September 30,
                                                                               2025   
    December 31,
                                                                               2024  

(unaudited)

    ASSETS 

    Current assets: 

    Cash and cash equivalents 
    $397,864  
    $322,426 
  
    Accounts receivable, net 
     568,099  
     312,200 
  
    Prepaid expenses and other current assets 
     19,315  
     16,773 
  
    Total current assets 
     985,278  
     651,399 

    Non-current assets: 

    Construction in progress 
     –  
     399,780 
  
    Property and equipment, net 
     2,760,673  
     1,739,468 
  
    Right-of-use assets, net 
     1,152,514  
     1,244,794 
  
    Total non-current assets 
     3,913,187  
     3,384,042 

    TOTAL ASSETS 
    $4,898,465  
    $4,035,441 

    LIABILITIES AND SHAREHOLDERS’ DEFICIT 

    Current liabilities: 

    Accounts payable 
    $144,513  
    $117,956 
  
    Accrued liabilities and other payables 
     609,772  
     1,161,150 
  
    Amount due to director 
     1,500,363  
     1,088,838 
  
    Amount due to shareholder 
     1,204,156  
     826,716 
  
    Construction payable 
     306,120  
     342,540 
  
    Convertible notes payable 
     –  
     170,000 
  
    Promissory notes payable 
     16  
     16 
  
    Earn-out payable 
     2,000,000  
     1,000,000 
  
    Lease liabilities 
     101,953  
     97,857 
  
    Income tax payable 
     47,216  
     17,515 
  
    Total current liabilities