Marvion Inc. Files 10-Q for Q1 2024
Ticker: MVNC · Form: 10-Q · Filed: May 20, 2024 · CIK: 1439264
| Field | Detail |
|---|---|
| Company | Marvion INC. (MVNC) |
| Form Type | 10-Q |
| Filed Date | May 20, 2024 |
| Risk Level | medium |
| Pages | 16 |
| Reading Time | 19 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, quarterly-report, finance-services
Related Tickers: MVNC
TL;DR
Marvion Inc. (MVNC) filed its Q1 2024 10-Q. Formerly Bonanza Goldfields.
AI Summary
Marvion Inc. filed its 10-Q for the period ending March 31, 2024. The company, formerly known as Bonanza Goldfields Corp., is incorporated in Nevada and operates in finance services. Its business address is in Singapore.
Why It Matters
This filing provides a quarterly update on Marvion Inc.'s financial performance and operational status, crucial for investors assessing the company's trajectory.
Risk Assessment
Risk Level: medium — The filing is a standard quarterly report, but the company's specific financial health and market position are not detailed enough in this header to assess risk definitively.
Key Numbers
- 3/31/24 — Reporting Period End Date (Quarterly filing covers this period.)
- 20240520 — Filing Date (Date the 10-Q was officially submitted.)
Key Players & Entities
- Marvion Inc. (company) — Filer
- Bonanza Goldfields Corp. (company) — Former company name
- 0001683168-24-003647 (other) — Accession Number
- 20240331 (date) — Reporting Period End Date
- 20240520 (date) — Filing Date
- Singapore (location) — Business Address City
FAQ
What is Marvion Inc.'s primary business sector?
Marvion Inc. operates in Finance Services, with a Standard Industrial Classification code of 6199.
When was Marvion Inc. formerly known as Bonanza Goldfields Corp.?
The company changed its name from Bonanza Goldfields Corp. on October 20, 2021.
What is the fiscal year end for Marvion Inc.?
Marvion Inc.'s fiscal year ends on December 31.
Where is Marvion Inc. headquartered?
Marvion Inc.'s business and mailing address is 37/F, Singapore Land Tower, 50 Raffles Place, Singapore.
What is the SEC file number for Marvion Inc.?
The SEC file number for Marvion Inc. is 000-53612.
Filing Stats: 4,701 words · 19 min read · ~16 pages · Grade level 14.8 · Accepted 2024-05-20 07:49:04
Filing Documents
- marvion_i10q-033124.htm (10-Q) — 711KB
- marvion_ex2100.htm (EX-21) — 8KB
- marvion_ex3101.htm (EX-31.1) — 8KB
- marvion_ex3102.htm (EX-31.2) — 8KB
- marvion_ex3201.htm (EX-32.1) — 3KB
- marvion_ex3202.htm (EX-32.2) — 3KB
- image_001.jpg (GRAPHIC) — 91KB
- 0001683168-24-003647.txt ( ) — 4513KB
- mvnc-20240331.xsd (EX-101.SCH) — 38KB
- mvnc-20240331_cal.xml (EX-101.CAL) — 47KB
- mvnc-20240331_def.xml (EX-101.DEF) — 124KB
- mvnc-20240331_lab.xml (EX-101.LAB) — 280KB
- mvnc-20240331_pre.xml (EX-101.PRE) — 247KB
- marvion_i10q-033124_htm.xml (XML) — 542KB
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION Page Item 1.
Financial Statements
Financial Statements 10 Condensed Consolidated Balance Sheets (Unaudited as of March 31, 2024) 10 Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income (Unaudited) 11 Condensed Consolidated Statements of Changes in Stockholders' (Deficit) Equity (Unaudited) 12 Condensed Consolidated Statements of Cash Flows (Unaudited) 13 Notes to Condensed Consolidated Financial Statements (Unaudited) 14 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 31 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 40 Item 4.
Controls and Procedures
Controls and Procedures 40
- OTHER INFORMATION
PART II - OTHER INFORMATION 41 Item 1.
Legal Proceedings
Legal Proceedings 41 Item 1A.
Risk Factors
Risk Factors 41 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 41 Item 3. Defaults Upon Senior Securities 41 Item 4. Mine Safety Disclosures 41 Item 5. Other Information 41 Item 6. Exhibits 42
SIGNATURES
SIGNATURES 43 2 INTRODUCTORY COMMENTS We are not a Hong Kong operating company but a Nevada holding company with operations conducted through our wholly owned subsidiaries based in Hong Kong and Singapore. Our investors hold shares of common stock in Marvion Inc., the Nevada holding company. This structure presents unique risks as our investors may never directly hold equity interests in our Hong Kong subsidiary and will be dependent upon contributions from our subsidiaries to finance our cash flow needs. Our ability to obtain contributions from our subsidiaries are significantly affected by regulations promulgated by Hong Kong and Singaporean authorities. Any change in the interpretation of existing rules and regulations or the promulgation of new rules and regulations may materially affect our operations and or the value of our securities, including causing the value of our securities to significantly decline or become worthless. For a detailed description of the risks facing the Company associated with our structure, please refer to " Risk Factors – Risks Relating to Doing Business in Hong Kong ." set forth in the Company's Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the "SEC") on April 16, 2024 (the "Annual Report"). Marvion Inc. and our Hong Kong subsidiaries are not required to obtain permission or approval from the China Securities Regulatory Commission, or CSRC, the Cybersecurity Administration Committee, or CAC, or any other Chinese authorities to operate our business or to issue securities to foreign investors. However, in light of the recent statements and regulatory actions by the People's Republic of China ("the PRC") government, such as those related to Hong Kong's national security, the promulgation of regulations prohibiting foreign ownership of Chinese companies operating in certain industries, which are constantly evolving, and anti-monopoly concerns, we may be subject to the risks of uncertainty of a