Company: MVNC
Filing Date: 2025-05-19
Form Type: 10-Q
Source: 0001683168-25-003814
Chunk: 61

Company: Marvion Inc.
Filing Date: 2025-05-19
Form: 10-Q
Item: Part I, Item 8
Chunk 61
---
 Lease liabilities: 

    Current lease liabilities 
    $99,099  
    $97,857 
  
    Non-current lease liabilities 
     1,227,128  
     1,254,618 

    Total lease liabilities 
    $1,326,227  
    $1,352,475 

Operating lease expense for the three months ended
March 31, 2025 and 2024 was $29,926 and $29,772, respectively.

Other supplemental information about the Company’s
operating lease as of:

    Schedule of other supplemental information 

    As of 

    March 31, 2025  
    December 31, 2024 
  
    Weighted average discount rate 
     5.75%  
     5.75% 
  
    Weighted average remaining lease term (years) 
     10.63  
     10.88 

Operating lease commitments:

The following table summarizes
the future minimum lease payments due under the Company’s operating leases in the next five years, as of March 31, 2025:

    Schedule of future minimum lease payments 

    Year ending March 31, 

    2026 
    $172,772 
  
    2027 
     172,772 
  
    2028 
     172,772 
  
    2029 
     172,772 
  
    2030 
     160,432 
  
    Thereafter 
     925,564 
  
    Total minimum finance lease liabilities payment 
     1,777,084 
  
    Less: imputed interest 
     (450,857)

    Future minimum lease liabilities 
    $1,326,227 

     24 

9.          AMOUNT
DUE TO DIRECTOR

As of March 31, 2025 and December
31, 2024, the amount represented temporary advances made by a director, Mr. Chan to the Company for capital expenditure and working capital
purposes, which was unsecured, interest-free and repayable on demand. The balance was $1,155,937 and $1,088,838 as of March 31, 2025 and
December 31, 2024, respectively.

10.        AMOUNT
DUE TO SHAREHOLDER

As of March 31, 2025 and December
31,