$MVNC
Marvion Inc

2024 Q2 Form 10-Q Financial Statement

#000168316824003647 Filed on May 20, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q4
Revenue $645.00 $92.59K $5.913M
YoY Change -99.98% -94.55% 19.04%
Cost Of Revenue $12.50K $70.16K $4.267M
YoY Change -0.97% -95.0% 11.12%
Gross Profit -$11.86K $22.43K $1.646M
YoY Change -100.31% -92.46% 45.99%
Gross Profit Margin -1838.45% 24.23% 27.83%
Selling, General & Admin $1.098M $134.8K $5.896M
YoY Change -26.59% -78.8% 366.51%
% of Gross Profit 600.82% 358.25%
Research & Development $26.98K $10.54M
YoY Change -79.89% 3714.97%
% of Gross Profit 120.27% 640.56%
Depreciation & Amortization $11.87K $12.16K
YoY Change -5.49% 0.83%
% of Gross Profit 52.92% 0.74%
Operating Expenses $1.098M $134.8K $16.44M
YoY Change -26.59% -78.8% 967.27%
Operating Profit -$1.587M -$139.3K -$14.79M
YoY Change -77.82% -73.07% 3482.6%
Interest Expense $124.00 -$290.3K
YoY Change
% of Operating Profit
Other Income/Expense, Net -$127.3K -$292.6K -$120.00
YoY Change -44.07% -111361.6% -126.09%
Pretax Income -$1.714M -$431.9K -$15.08M
YoY Change -76.78% -16.45% 3557.02%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$1.714M -$431.9K -$15.08M
YoY Change -76.78% -16.45% 3557.02%
Net Earnings / Revenue -265747.91% -466.51% -255.08%
Basic Earnings Per Share -$0.04 $0.00
Diluted Earnings Per Share -$0.04 $0.00 -$0.30
COMMON SHARES
Basic Shares Outstanding 53.36M shares 160.1B shares
Diluted Shares Outstanding 38.34M shares 50.46M shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $393.9K $522.4K $791.3K
YoY Change -57.07% 596.95% 622.76%
Cash & Equivalents $7.177K $9.065K $124.0K
Short-Term Investments $386.7K $513.3K $667.3K
Other Short-Term Assets $10.65K $10.65K $10.65K
YoY Change -0.93% 6.17% 4.36%
Inventory $7.771M $7.770M $7.770M
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $8.875M $9.008M $9.274M
YoY Change 112.4% 88.34% 103.63%
LONG-TERM ASSETS
Property, Plant & Equipment $764.4K
YoY Change
Goodwill
YoY Change
Intangibles $14.95K $27.39K $40.61K
YoY Change -76.36% -66.71% -56.9%
Long-Term Investments
YoY Change
Other Assets $0.00 $138.5K
YoY Change -100.0% -21.41%
Total Long-Term Assets $14.95K $27.39K $179.1K
YoY Change -94.3% -89.41% -33.77%
TOTAL ASSETS
Total Short-Term Assets $8.875M $9.008M $9.274M
Total Long-Term Assets $14.95K $27.39K $179.1K
Total Assets $8.890M $9.035M $9.453M
YoY Change 100.19% 79.22% 95.93%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $57.24K
YoY Change
Accrued Expenses $17.42M $17.49M
YoY Change 193.66% 231.35%
Deferred Revenue
YoY Change
Short-Term Debt $170.0K $170.0K
YoY Change 183.37%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $21.21M $19.64M $19.65M
YoY Change 59.03% 160.02% 187.89%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $21.21M $19.64M $19.65M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $21.21M $19.64M $19.65M
YoY Change 59.03% 160.02% 187.89%
SHAREHOLDERS EQUITY
Retained Earnings -$53.99M -$52.27M -$51.84M
YoY Change 58.3% 95.62% 97.83%
Common Stock $5.336K $5.336K $15.18M
YoY Change -98.83% -97.25% 7713.35%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$12.32M -$10.61M -$10.19M
YoY Change
Total Liabilities & Shareholders Equity $8.890M $9.035M $9.453M
YoY Change 100.19% 79.22% 95.93%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q4
OPERATING ACTIVITIES
Net Income -$1.714M -$431.9K -$15.08M
YoY Change -76.78% -16.45% 3557.02%
Depreciation, Depletion And Amortization $11.87K $12.16K
YoY Change -5.49% 0.83%
Cash From Operating Activities -$191.8K $1.397M
YoY Change 70.63% -217.71%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $81.67K -1.316M
YoY Change 5.65% -204.72%
NET CHANGE
Cash From Operating Activities -$191.8K 1.397M
Cash From Investing Activities 0.000
Cash From Financing Activities $81.67K -1.316M
Net Change In Cash -$114.9K 81.29K
YoY Change 234.58% 16.88%
FREE CASH FLOW
Cash From Operating Activities -$191.8K $1.397M
Capital Expenditures $0.00
Free Cash Flow $1.397M
YoY Change -217.71%

Facts In Submission

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<p id="xdx_842_eus-gaap--UseOfEstimates_zgYzeLsRK4pl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><span id="xdx_86E_zsIcliffRPu2">Use of estimates and assumptions</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In preparing these unaudited condensed consolidated financial statements, management makes estimates and assumptions that affect the reported amounts of assets and liabilities in the balance sheet and revenues and expenses during the periods reported. Actual results may differ from these estimates. If actual results significantly differ from the Company’s estimates, the Company’s financial condition and results of operations could be materially impacted. Significant estimates in the period include the impairment loss on digital assets, valuation and useful lives of intangible assets and deferred tax valuation allowance.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
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CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Rolling Twelve Months
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CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Two
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CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling After Year Five
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CY2024Q1 us-gaap Finite Lived Intangible Assets Net
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CY2024Q1 us-gaap Amortization Of Intangible Assets
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CY2023Q1 us-gaap Amortization Of Intangible Assets
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CY2024Q1 us-gaap Accrued Professional Fees Current
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CY2023Q4 us-gaap Common Stock Shares Authorized
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CY2024Q1 us-gaap Common Stock Par Or Stated Value Per Share
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CY2024Q1 MVNC Common Stock Committed To Be Issued
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CY2023Q4 MVNC Common Stock Committed To Be Issued
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CY2024Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2024Q1 us-gaap Earnings Per Share Basic
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CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2024Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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CY2023Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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CY2024Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2024Q1 us-gaap Current Federal Tax Expense Benefit
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CY2024Q1 us-gaap Current Foreign Tax Expense Benefit
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CY2024Q1 us-gaap Deferred Federal Income Tax Expense Benefit
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CY2024Q1 us-gaap Deferred Foreign Income Tax Expense Benefit
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CY2023Q1 us-gaap Deferred Foreign Income Tax Expense Benefit
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CY2024Q1 us-gaap Income Tax Expense Benefit
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CY2023Q1 us-gaap Income Tax Expense Benefit
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CY2024Q1 us-gaap Operating Loss Carryforwards
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CY2024Q1 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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CY2024Q1 us-gaap Deferred Tax Assets Gross
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CY2022Q2 us-gaap Investments
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CY2024Q1 us-gaap Contractual Obligation
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CY2024Q1 ecd Rule10b51 Arr Adopted Flag
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CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
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CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
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Files In Submission

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0001683168-24-003647.txt Edgar Link pending
0001683168-24-003647-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
image_001.jpg Edgar Link pending
marvion_ex2100.htm Edgar Link pending
marvion_ex3101.htm Edgar Link pending
marvion_ex3102.htm Edgar Link pending
marvion_ex3201.htm Edgar Link pending
marvion_ex3202.htm Edgar Link pending
marvion_i10q-033124.htm Edgar Link pending
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mvnc-20240331.xsd Edgar Link pending
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