Company: MVNC
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001683168-25-008388
Chunk: 45

Company: Marvion Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 45
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    Gross profit 
     1,019,269  
     502,341 
  
    Operating expenses: 

    General and administrative expenses 
     (870,363) 
     (732,377)
  
    Total operating expenses 
     (870,363) 
     (732,377)
  
    Income (loss) from operations 
     148,906  
     (230,036)
  
    Interest income 
     592  
     1,597 
  
    Interest expense 
     (169,965) 
     (35,974)
  
    Gain on debt extinguishment 
     170,000  
     – 
  
    Income (loss) before income taxes 
     149,533  
     (264,413)
  
    Income tax expense 
     (29,657) 
     (36,045)
  
    Net income (loss) 
    $119,876  
    $(300,458)

Revenues

The Company currently generates
three sources of revenue: 

    Nine Months Ended September 30, 

    2025  
    2024 

    Logistic service income 
    $1,212,610  
    $468,142 
  
    Warehousing service income 
     1,093,710  
     403,229 
  
    Financial consulting income 
     172,575  
     148,222 

    $2,478,895  
    $1,019,593 

All of our revenues are
derived in Hong Kong.

Revenues from logistic solution
services to the customers, in which such local transportation, delivery and packaging services at the time the customers require packed
products to be shipped by the Company to domestic destinations designed by the customers. The Company’s performance obligation has
been satisfied when the products been delivered to the designated recipient and confirmed the completion with customer. Generally, the
Company will reconcile the delivery order with the customer monthly and recognized revenue after completion of monthly reconciliation.
The Company will issue invoices to customers at each month end, and usually provide the receivable in a credit term of 30 days.

 39 

Revenues from storage services
at the designated warehouse facilities are recognized ratably over the term of the contract or arrangement, as the Company performs contractual
obligations through continuous transfer of control to the customers, and they could simultaneously receive