Marvion Inc. Acquires 09 Crypto Assets, Shifts Focus
Ticker: MVNC · Form: 8-K · Filed: Sep 13, 2024 · CIK: 1439264
| Field | Detail |
|---|---|
| Company | Marvion INC. (MVNC) |
| Form Type | 8-K |
| Filed Date | Sep 13, 2024 |
| Risk Level | medium |
| Pages | 16 |
| Reading Time | 19 min |
| Sentiment | mixed |
Sentiment: mixed
Topics: acquisition, digital-assets, strategic-shift
TL;DR
Marvion Inc. just bought 09 Crypto Assets, going all-in on crypto!
AI Summary
On September 12, 2024, Marvion Inc. completed the acquisition of 100% of the issued and outstanding equity interests of 09 Crypto Assets, a company focused on digital asset management. This transaction marks a significant shift for Marvion Inc., moving its primary business focus to the digital asset sector.
Why It Matters
This acquisition signifies Marvion Inc.'s strategic pivot into the digital asset industry, potentially impacting its future revenue streams and market positioning.
Risk Assessment
Risk Level: medium — The acquisition of a company in the volatile digital asset sector introduces inherent risks related to market fluctuations and regulatory changes.
Key Numbers
- 100% — Equity Interest Acquired (Marvion Inc. acquired full ownership of 09 Crypto Assets.)
Key Players & Entities
- Marvion Inc. (company) — Acquiring company
- 09 Crypto Assets (company) — Acquired company
- September 12, 2024 (date) — Date of acquisition completion
- 100% (dollar_amount) — Percentage of equity acquired
FAQ
What is the primary business of 09 Crypto Assets?
09 Crypto Assets is focused on digital asset management.
What percentage of 09 Crypto Assets did Marvion Inc. acquire?
Marvion Inc. acquired 100% of the issued and outstanding equity interests of 09 Crypto Assets.
On what date was the acquisition of 09 Crypto Assets completed?
The acquisition was completed on September 12, 2024.
What was Marvion Inc.'s previous business focus?
The filing indicates a shift in primary business focus to the digital asset sector, implying a previous focus on other areas.
What is Marvion Inc.'s state of incorporation?
Marvion Inc. is incorporated in Nevada.
Filing Stats: 4,702 words · 19 min read · ~16 pages · Grade level 15.7 · Accepted 2024-09-13 12:10:19
Filing Documents
- marvion_8k.htm (8-K) — 1305KB
- marvion_ex0402.htm (EX-4.2) — 28KB
- marvion_ex1007.htm (EX-10.7) — 26KB
- marvion_ex1008.htm (EX-10.8) — 20KB
- marvion_ex2100.htm (EX-21) — 7KB
- marvion_ex3101.htm (EX-31.1) — 8KB
- marvion_ex3201.htm (EX-32.1) — 3KB
- image_001.jpg (GRAPHIC) — 34KB
- 0001683168-24-006368.txt ( ) — 1878KB
- mvnc-20240912.xsd (EX-101.SCH) — 3KB
- mvnc-20240912_lab.xml (EX-101.LAB) — 33KB
- mvnc-20240912_pre.xml (EX-101.PRE) — 24KB
- marvion_8k_htm.xml (XML) — 3KB
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 42
Security Ownership of Certain Beneficial Owners and Management
Security Ownership of Certain Beneficial Owners and Management 55 Directors, Executive Officers, Promoters and Control Persons 62
Executive Compensation
Executive Compensation 64 Certain Relationships and Related Transactions Relating to UWMC 69
Legal Proceedings
Legal Proceedings 70 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 71
Description of Securities
Description of Securities 72 Indemnification of Directors and Officers 76 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 78 Index to Financial Statements F-1 2 INTRODUCTORY COMMENT We are not a Hong Kong operating company but a Nevada holding company with operations conducted through our wholly owned subsidiaries based in the British Virgin Islands and Hong Kong. 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 the British Virgin Islands and Hong Kong 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 ." 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 c