Marvion Inc.
0.0264-0.00 (-12%)
Oct 29, 4:00:00 PM EDT · OTC Markets OTCQB · MVNC · USD
Key Stats
Market Cap
8.99MP/E (TTM)
-Basic EPS (TTM)
0.00Dividend Yield
0%Recent Filings
10-Q
Q2 FY2025 results
Marvion Inc. posted solid Q2 FY2025 results, with revenues surging 147% year-over-year to $889,768, driven by robust growth in logistics ($461,342, up 195% y/y) and warehousing ($381,696, up 184% y/y) segments that now dominate over 94% of total sales. Gross profit climbed to $305,890 (34.4% margin), yet operating income dipped to $23,190 from $93,365 amid higher G&A expenses, before a $170,000 gain on debt extinguishment boosted net income to $107,801 (diluted EPS $0.00 on 340M shares). Free cash flow turned negative at -$546,955 (derived), reflecting $669,849 in property investments, while cash stood at $264,721 against $5.0M working capital deficit, supported by $465K in related-party advances. The August 2024 acquisition of United Warehouse Management closed for 148M shares plus $5.5M contingent earnouts (two $1M tranches vested, payable by Dec 2025), recognizing no goodwill but adding key warehousing assets amortized over 12 years. PRC regulatory shifts in Hong Kong pose ongoing risks to operations and foreign investment flows.
10-Q
Q1 FY2025 results
Marvion Inc. posted solid Q1 FY2025 results, with revenues jumping 138% year-over-year to $641,023, fueled by logistics and warehousing growth in Hong Kong—logistics up 168% to $288,770 and warehousing up 114% to $286,944—while financial consulting added $65,309. Gross profit soared to $322,019 from $124,352, yielding a 50.2% margin versus 46.2% last year, but operating income edged up just 16% to $62,240 amid higher G&A expenses of $259,779. Net income dipped to $6,977 from $40,512, pressured by $47,115 in interest on promissory notes tied to the September 2024 acquisition of United Warehouse Management Corp., which closed for 148 million common shares and up to $5.5 million in contingent earnouts (first $1 million vested). Cash climbed to $368,791, with operating cash flow at $176,329 and free cash flow of -$55,241 (derived), supported by $99,148 in related-party advances; total debt stands at $4.2 million in interest-free notes due through 2028, offset by $368,791 in cash. Yet regulatory shifts in Hong Kong could crimp dividend flows to the Nevada holding company.
10-K
FY2024 results
Marvion Inc. posted FY2024 revenue of $1.54M, up 134% y/y from $0.66M in 2023, propelled by the September acquisition of United Warehouse Management Corp. that shifted focus to Hong Kong logistics and warehousing, which drove 86% of topline versus 40% in 2023. Q4 2024 accelerated with $703K in logistics income, a sequential jump from Q3's softer trends amid port congestion easing, while warehousing margins expanded to 53% from 49% y/y on fuller utilization of 62,600 sq ft facilities. Yet, net loss widened to $734K from $9K profit, hit by $1.38M in one-off merger costs and earnout provisions; operating loss hit $615K, with net diverging by interest on $5M promissory notes tied to acquisition milestones. Cash rose to $322K on $895K shareholder advances, funding $500K capex for 36,000 sq ft expansion due Q2 2025, but $4.8M liabilities signal liquidity strain. No 2025 guidance disclosed. PRC regulatory shifts could throttle Hong Kong cash flows.
8-K
New warehouse lease signed
Marvion Inc.'s subsidiary United Warehouse Management Limited signed a two-year warehouse storage agreement with Kwai Bon Transportation Limited on April 1, 2025, securing HKD 235,000 monthly fees for 17,000 square feet of space through March 31, 2027, with automatic one-year renewal thereafter. The deal includes a HKD 470,000 security deposit and a partial rent-free period until April 15, 2025. This locks in steady revenue for Marvion's warehousing operations. Yet early termination risks compensation claims if breached.
8-K
Auditor switch amid losses
Marvion Inc. switched auditors on March 21, 2025, accepting the resignation of Olayinka Oyebola & Co. and engaging Victor Mokuolu, CPA PLLC for its 2024 fiscal year audit. The prior auditor's 2023 report flagged substantial going concern doubts from an accumulated deficit of $51,840,444 and matching net loss, yet no disagreements or reportable events arose. No consultations preceded the change. This shift underscores ongoing financial pressures.
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