Company: MVNC
Filing Date: 2025-05-19
Form Type: 10-Q
Source: 0001683168-25-003814
Chunk: 69

Company: Marvion Inc.
Filing Date: 2025-05-19
Form: 10-Q
Item: Part I, Item 8
Chunk 69
---
 D 
    $99,851  
     37.09%  
    $45,934 

    $234,122  
     86.97%  
    $90,667 

These customers are located in
Hong Kong.

    (b)
    Major vendors

For the three months ended March
31, 2025 and 2024, the individual vendor who accounted for 10% or more of the Company’s direct operating cost and its outstanding
payable balances at period-end dates, are presented as follows:

    Schedule of concentration of risk 

    Three Months ended March 31, 2025  
    March 31, 2025 
  
    Vendor 
    Cost of revenues  
    Percentage cost of revenues  
    Expenses payable 
  
    Vendor A 
    $82,862  
     25.98%  
    $35,548 
  
    Vendor B 
    $44,259  
     13.87%  
    $– 

    $127,121  
     39.85%  
    $35,548 

    Three Months ended March 31, 2024  
    March 31, 2024 
  
    Vendor 
    Cost of revenues  
    Percentage cost of revenues  
    Expenses payable 
  
    Vendor B 
    $45,167  
     31.18%  
    $– 

These vendors are located in
Hong Kong and China.

     31 

    (c)
    Credit risk

Financial instruments that potentially
subject the Company to credit risk consist of cash and cash equivalents and accounts receivable. Cash equivalents are maintained with
high credit quality institutions in Hong Kong, the composition and maturities of which are regularly monitored by the management. The
Hong Kong Deposit Protection Board pays compensation up to a limit of HK$800,000 (equal to $102,840) if the bank in Hong Kong
with which an individual/a company hold its eligible deposit fails.

    (d)
    Economic and political risk

The Company’s major operations
are conducted in Hong Kong. Accordingly, the political, economic, and legal environments in Hong Kong, as well as the general state of
Hong Kong’s economy may influence the Company’s business, financial condition, and results of operations.  

    (e)
    Exchange rate risk

The Company cannot guarantee
that the current exchange rate