Company: MVNC
Filing Date: 2025-05-19
Form Type: 10-Q
Source: 0001683168-25-003814
Chunk: 33

Company: Marvion Inc.
Filing Date: 2025-05-19
Form: 10-Q
Item: Part I, Item 1
Chunk 33
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, with 1 authorized share, all of which are issued and
outstanding. The voting and conversion rights of each series of preferred stock and the beneficial ownership of such securities by insiders
are summarized below:

    Stock 
    Voting Rights 
    Ownership 
  
    Common Stock 
    One vote per share 
    
    4.26% held by Lee Ying Chiu Herbert.
    5.35% held by Young Chi Kin Eric.
    5.22% held by Chan Sze Yu.
  
    Series A Preferred Stock 
    Holders of Series A Preferred Stock are entitled to vote on matters submitted to a vote of the shareholders with each one share having 200 votes. Series A Preferred Stock do not convert into Common Stock.
    100% held by Young Chi Kin Eric. 
  
    Series B Preferred Stock 
    Holders of Series B Preferred Stock have no voting rights, and Series B Preferred Stock do not convert into Common Stock. 
    Approximately 92% held by Lee Ying Chiu Herbert. 
  
    Series C Convertible Preferred Stock 
    
    Holders of Series C Convertible Preferred Stock are generally not allowed
    to vote on an “as converted” basis on matters submitted to holders of the common stock, or any class thereof.
     
    Each one share of Series C Convertible Preferred Stock converts into 9.99%
    of the outstanding shares of common stock less the number of shares of common stock held by the holder; provided that any such optional
    conversion must involve the conversion of all of the holder’s shares of Series C Convertible Preferred Stock.
    100% held by Lee Ying Chiu Herbert.

Young Chi Kin Eric and Chan Sze Yu will be entitled
to control approximately 91.61% and 0.81%, respectively, of our voting power on matters submitted to a vote of the shareholders. We do
not intend to utilize controlled company exemptions.

Current Revenue Generating Operation

BUSINESS SEGMENT INFORMATION

The following table summarizes revenue from contracts
with customers, disaggregated by revenue source and the related segments, for the three months ended March 31, 2025 and 2024:

    Three Months ended March 31, 
  
    Types of segments/revenue sources 
    2025  
    2024 

    Supply chain segment: 

    Logistic services 
    $288,770  
    $107,548 
  
    Warehousing services 
     286,944  
     134,271