Company: MVNC
Filing Date: 2025-05-19
Form Type: 10-Q
Source: 0001683168-25-003814
Chunk: 82

Company: Marvion Inc.
Filing Date: 2025-05-19
Form: 10-Q
Item: Part I, Item 8
Chunk 82
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 a net income of $40,512, an increase
in accrued liabilities and other payables of $61,085 and an increase in income tax payable of $13,580, and adjusted for non-cash items
of depreciation for property and equipment of $18,512, amortization of right-of-use assets of $29,772 and interest expenses on lease liabilities
of $20,527, offset by a decrease of lease liabilities of $39,876, an increase in account receivables of $27,988 and a decrease in account
payables of $5,028.

Net Cash Used In Investing
Activities

For the three months ended March
31, 2025, net cash used in investing activities of $231,570 which consisted primarily of $2,761 for purchase of property and equipment
during the period and $228,809 of additions in construction in progress.

For the three months ended March
31, 2024, net cash used in investing activities of $511,133 represent the purchase of property and equipment during the period.

Net Cash Provided by Financing Activities

For the three months ended March
31, 2025, net cash provided by financing activities of $99,148 which consisted primarily of $67,099 advance from the Company’s shareholder
and $32,049 advance from the Company’s director.

For the three months ended March
31, 2024, net cash provided by financing activities of $571,802 represented the advances made by the Company’s director.

All advances are repayable on
demand and interest-free.

Material Cash Requirements

As of
March 31, 2025, we had an accumulated deficit of $6,063,996. Our material cash requirements are highly dependent upon the additional financial
support from our major shareholders in the next 12 - 18 months.

We are not party to any off-balance
sheet transactions. We have no guarantees or obligations other than those which arise out of normal business operations.

 42 

Contractual Obligations and Commercial Commitments

On August 15, 2024, we, UWMC
and eleven shareholders of UWMC entered into a Share Exchange Agreement (the “SEA”) pursuant to which the shareholders of
UWMC agreed to transfer to us 4,000 shares of UWMC, constituting all of the issued and outstanding securities of UWMC, in exchange for
148,148,148 shares of our common stock (the “Acquisition Shares”). In addition