Marvion (MVNC) 10-Q 14 Aug 24 2024 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2024	Jul. 29, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2024
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Entity File Number	000-53612
Entity Registrant Name	MARVION INC.
Entity Central Index Key	0001439264
Entity Tax Identification Number	26-2723015
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	21st Floor
Entity Address, Address Line Two	Centennial Tower
Entity Address, City or Town	3 Temasek Avenue
Entity Address, Country	SG
Entity Address, Postal Zip Code	039190
City Area Code	65
Local Phone Number	6829 7029
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		54,355,661

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)		Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents		$ 7,177	$ 123,991
Digital assets, net		10,646	10,648
Inventories, net		7,770,611	7,770,000
Short-term investments		386,684	667,287
Prepaid expenses and other current assets		699,704	702,093
Total current assets		8,874,822	9,274,019
Non-current assets:
Deferred financing cost, net		0	138,505
Intangible assets, net		14,953	40,605
Total non-current assets		14,953	179,110
TOTAL ASSETS		8,889,775	9,453,129
Current liabilities:
Accrued liabilities and other payables		15,271,193	15,334,410
Accrued consulting and service fee		3,614,412	2,154,106
Amounts due to related parties		2,152,080	1,987,162
Convertible note payable		170,000	170,000
Promissory note payable		16	16
Total current liabilities		21,207,701	19,645,694
TOTAL LIABILITIES		21,207,701	19,645,694
Commitments and contingencies
Shareholders’ deficit:
Common stock, par value $0.0001, 270,000,000,000 shares authorized, 54,355,661 and 50,596,157 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively	[1]	5,336	5,060
Common stock to be issued, $0.0001 par value, 0 shares and 2,764,009 shares as of June 30, 2024 and December 31, 2023, respectively	[1]	0	276
Additional paid-in capital		41,639,772	41,639,772
Accumulated other comprehensive income (loss)		22,385	1,733
Accumulated deficit		(53,986,457)	(51,840,444)
Total shareholders’ deficit		(12,317,926)	(10,192,565)
TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT		8,889,775	9,453,129
Preferred Stock [Member]
Shareholders’ deficit:
Preferred stock, value		0	0
Series A Preferred Stock [Member]
Shareholders’ deficit:
Preferred stock, value		1,000	1,000
Series B Preferred Stock [Member]
Shareholders’ deficit:
Preferred stock, value		37	37
Series C Preferred Stock [Member]
Shareholders’ deficit:
Preferred stock, value		$ 1	$ 1
[1]The shares amounts are presented on a retroactive basis, after the effect of Reverse Stock Split (see Note 10).

UNAUDITED CONDENSED CONSOLIDA_2

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	30,000,000,000	30,000,000,000
Preferred stock undesignated	18,999,999	18,999,999
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	270,000,000,000	270,000,000,000
Common stock, shares issued	54,355,661	50,596,157
Common stock, shares outstanding	54,355,661	50,596,157
Common stock shares to be issued	0	2,764,009
Series A Preferred Stock [Member]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	10,000,000	10,000,000
Preferred stock, shares outstanding	10,000,000	10,000,000
Series B Preferred Stock [Member]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	366,346	366,346
Preferred stock, shares outstanding	366,346	366,346
Series C Preferred Stock [Member]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	1	1
Preferred stock, shares issued	1	1
Preferred stock, shares outstanding	1	1

UNAUDITED CONDENSED CONSOLIDA_3

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Revenues		$ 645	$ 3,858,012	$ 93,234	$ 5,557,710
Cost of revenues		(12,503)	(12,626)	(82,660)	(1,414,743)
Gross (loss) profit		(11,858)	3,845,386	10,574	4,142,967
Operating expenses:
Technology and development expenses		(227,894)	(7,652,739)	(254,872)	(7,786,868)
Sales and marketing expenses		(443,930)	(892,340)	(447,160)	(1,082,989)
Corporate development expenses		(249,000)	(1,851,000)	(249,000)	(1,896,000)
General and administrative expenses		(654,127)	(603,472)	(785,672)	(1,048,533)
Impairment loss of digital assets		(1)	(23)	(1)	(23)
Total operating expenses		(1,574,952)	(10,999,574)	(1,736,705)	(11,814,413)
Loss from operations		(1,586,810)	(7,154,188)	(1,726,131)	(7,671,446)
Other income (expense):
Amortization of deferred financing costs		0	(57,611)	(138,505)	(57,611)
Change in fair value of marketable securities		(126,614)	(170,003)	(280,603)	(170,003)
Interest expense		(650)	0	(774)	0
Other income		0	55	0	318
Total other income (expense)		(127,264)	(227,559)	(419,882)	(227,296)
Loss before income taxes		(1,714,074)	(7,381,747)	(2,146,013)	(7,898,742)
Income tax credit		0	0	0	0
Net loss		(1,714,074)	(7,381,747)	(2,146,013)	(7,898,742)
Other comprehensive income:
Foreign currency adjustment gain		4,358	22,097	20,652	24,934
Comprehensive loss		$ (1,709,716)	$ (7,359,650)	$ (2,125,361)	$ (7,873,808)
Net loss per share:
Basic	[1]	$ (0.04)	$ (7.15)	$ (0.02)	$ (7.65)
Diluted	[1]	$ (0.04)	$ (7.15)	$ (0.02)	$ (7.65)
Weighted average common shares outstanding:
Basic	[2]	38,337,971	1,032,261	96,634,911	1,032,261
Diluted	[2]	38,337,971	1,032,261	96,634,911	1,032,261
[1]Less than $0.001[2]The shares amounts are presented on a retroactive basis, after the effect of Reverse Stock Split (see Note 10).

UNAUDITED CONDENSED CONSOLIDA_4

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' DEFICIT - USD ($)		Preferred Stock [Member]	Common Stock [Member]		Common Stock To Be Issued [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Dec. 31, 2022		$ 1,038	$ 65		$ 4,693	$ 24,205,131	$ (5,043)	$ (26,205,029)	$ (1,999,145)
Beginning balance, shares at Dec. 31, 2022		10,366,346	647,561	[1]	46,931,433
Foreign translation adjustment							2,837		2,837
Net loss for the period								(516,995)	(516,995)
Ending balance, value at Mar. 31, 2023		$ 1,038	$ 65		$ 4,693	24,205,131	(2,206)	(26,722,024)	(2,513,303)
Ending balance, shares at Mar. 31, 2023		10,366,346	647,561	[1]	46,931,433
Beginning balance, value at Dec. 31, 2022		$ 1,038	$ 65		$ 4,693	24,205,131	(5,043)	(26,205,029)	(1,999,145)
Beginning balance, shares at Dec. 31, 2022		10,366,346	647,561	[1]	46,931,433
Net loss for the period									(7,898,742)
Ending balance, value at Jun. 30, 2023		$ 1,038	$ 152		$ 4,615	25,183,135	19,891	(34,103,771)	(8,894,940)
Ending balance, shares at Jun. 30, 2023		10,366,346	1,517,946	[1]	46,156,239
Beginning balance, value at Mar. 31, 2023		$ 1,038	$ 65		$ 4,693	24,205,131	(2,206)	(26,722,024)	(2,513,303)
Beginning balance, shares at Mar. 31, 2023		10,366,346	647,561	[1]	46,931,433
Shares issued as commitment shares			$ 2			80,398			80,400
Shares issued as commitment shares, shares	[1]		22,333
Shares issued under share swap agreement			$ 7			897,606			897,613
Shares issued under share swap agreement, shares	[1]		72,858
Shares issued under Share Exchange Agreement in prior years			$ 78		$ (78)
Shares issued under Share Exchange Agreement in prior years, shares			775,194	[1]	(775,194)
Foreign translation adjustment							22,097		22,097
Net loss for the period								(7,381,747)	(7,381,747)
Ending balance, value at Jun. 30, 2023		$ 1,038	$ 152		$ 4,615	25,183,135	19,891	(34,103,771)	(8,894,940)
Ending balance, shares at Jun. 30, 2023		10,366,346	1,517,946	[1]	46,156,239
Beginning balance, value at Dec. 31, 2023		$ 1,038	$ 5,060		$ 276	41,639,772	1,733	(51,840,444)	(10,192,565)
Beginning balance, shares at Dec. 31, 2023		10,366,346	50,596,157	[1]	2,764,009
Shares issued to consultants			$ 276		$ (276)
Shares issued to consultants, shares			2,764,009	[1]	(2,764,009)
Fractional shares per reverse split
Fractional shares per reverse split, shares	[1]		288
Foreign translation adjustment							16,294		16,294
Net loss for the period								(431,939)	(431,939)
Ending balance, value at Mar. 31, 2024		$ 1,038	$ 5,336			41,639,772	18,027	(52,272,383)	(10,608,210)
Ending balance, shares at Mar. 31, 2024		10,366,346	53,360,454	[1]	0
Beginning balance, value at Dec. 31, 2023		$ 1,038	$ 5,060		$ 276	41,639,772	1,733	(51,840,444)	(10,192,565)
Beginning balance, shares at Dec. 31, 2023		10,366,346	50,596,157	[1]	2,764,009
Net loss for the period									(2,146,013)
Ending balance, value at Jun. 30, 2024		$ 1,038	$ 5,336			41,639,772	22,385	(53,986,457)	(12,317,926)
Ending balance, shares at Jun. 30, 2024		10,366,346	54,355,661	[1]	0
Beginning balance, value at Mar. 31, 2024		$ 1,038	$ 5,336			41,639,772	18,027	(52,272,383)	(10,608,210)
Beginning balance, shares at Mar. 31, 2024		10,366,346	53,360,454	[1]	0
Fractional shares per reverse split
Fractional shares per reverse split, shares	[1]		995,207
Foreign translation adjustment							4,358		4,358
Net loss for the period								(1,714,074)	(1,714,074)
Ending balance, value at Jun. 30, 2024		$ 1,038	$ 5,336			$ 41,639,772	$ 22,385	$ (53,986,457)	$ (12,317,926)
Ending balance, shares at Jun. 30, 2024		10,366,346	54,355,661	[1]	0
[1]The shares amounts are presented on a retroactive basis, after the effect of Reverse Stock Split (see Note 10).

UNAUDITED CONDENSED CONSOLIDA_5

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net loss	$ (2,146,013)	$ (7,898,742)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization of intangible assets	24,377	24,992
Amortization of deferred financing cost	138,505	57,611
Written off intangible assets	0	5,434
Digital assets received as revenue	0	(5,418,542)
Impairment loss of digital assets	0	23
Change in fair value of marketable securities	280,603	170,003
Cost of inventories (non-cash)	0	5,417,972
Change in operating assets and liabilities:
Inventories	(611)	1,387,500
Prepaid expenses and other current assets	(382)	(193,719)
Accrued liabilities and other payable	(60,015)	1,514,484
Accrued consulting and service fee	1,463,387	4,700,859
Income tax payable	0	(1,265)
Net cash used in operating activities	(300,149)	(233,390)
Cash flows from financing activities:
Proceeds from issuance of convertible note payable	0	160,000
Advance from related parties	183,457	162,222
Net cash provided by financing activities	183,457	322,222
Effect of exchange rate on cash and cash equivalents	(122)	1,746
Net change in cash and cash equivalents	(116,814)	90,578
Cash and cash equivalents at beginning of the period	123,991	99,274
Cash and cash equivalents at end of the period	7,177	189,852
Supplemental disclosure of cash flow information:
Cash paid for income taxes	0	0
Cash paid for interest	0	0
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Shares issued under share swap agreement in exchange of marketable securities	$ 0	$ 897,613

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($)	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure [Table]
Net Income (Loss)	$ (1,714,074)	$ (431,939)	$ (7,381,747)	$ (516,995)	$ (2,146,013)	$ (7,898,742)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
Insider Trading Arrangements [Line Items]
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

ORGANIZATION AND BUSINESS BACKG

ORGANIZATION AND BUSINESS BACKGROUND	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
ORGANIZATION AND BUSINESS BACKGROUND	1. ORGANIZATION AND BUSINESS BACKGROUND Marvion Inc. was incorporated in the State of Nevada on March 6, 2008. The Company and its subsidiaries are hereinafter referred to as (the “Company”). Currently, the Company is principally engaged in the sale and distribution of media and entertainment products in its online platform, as well as the provision of financing, business development solutions & related professional services in Singapore and Hong Kong. Description of subsidiaries Schedule of description of subsidiaries Name Place of incorporation and kind of legal entity Principal activities and place of operation Particulars of registered/paid up share capital Effective interest held Marvion Holdings Limited (“MHL”) British Virgin Islands Investment holding 50,000 ordinary shares at par value of US$1 each 100 Marvion Private Limited (“MPL”) Singapore Corporate management and IT development in Singapore 1,000 ordinary shares for S$1,000 100 Marvion Group Limited (“MGL”) British Virgin Islands Procurement of media and entertainment in Singapore 50,000 ordinary shares at par value of US$1 each 100 Marvion (Hong Kong) Limited (“MHKL”) Hong Kong Corporate management in Hong Kong 1,000 ordinary shares for HK$1,000 100 Marvion Studios Limited (“MSL”) Hong Kong Provision of financing, business development solutions & related professional services 10,000 ordinary shares for HK$10,000 100 Marvel Multi-dimensions Limited (“MMDL”) Hong Kong Provision of research & development, IT and consulting services and treasury management for the Group 10,000 ordinary shares for HK$10,000 100 The Company and its subsidiaries are hereinafter referred to as (the “Company”).

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation These accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”) for interim financial information pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary to make the financial statements not misleading have been included. Operating results for the period ended June 30, 2024 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2024. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with Management’s Discussion and Analysis, and the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, filed with the SEC on April 16, 2024. Use of estimates and assumptions 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. Basis of consolidation The unaudited condensed consolidated financial statements include the accounts of MVNC and its subsidiaries. All significant inter-company balances and transactions within the Company have been eliminated upon consolidation. Segment reporting Accounting Standards Codification (“ASC”) 280, “Segment Reporting” establishes standards for reporting information about operating segments on a basis consistent with the Company’s internal organization structure as well as information about geographical areas, business segments and major customers in consolidated financial statements. Currently, the Company operates in two reportable operating segments in Hong Kong and Singapore. Cash and cash equivalents Cash and cash equivalents are carried at cost and represent cash on hand, demand deposits placed with banks or other financial institutions and all highly liquid investments with an original maturity of three months or less as of the purchase date of such investments. Digital assets The Company’s digital assets represent the cryptocurrencies held in its e-wallet, including Binance USD, Tether, Binance Coin, Ethereum, Polygon, OKB Token and OEC Token. The Company accounts for its digital assets in accordance with Financial Accounting Standards Board (“FASB”) ASC 350, “ General Intangibles Other Than Goodwill The Company’s cryptocurrencies are deemed to have an indefinite useful life. Therefore amounts are not amortized, but rather are assessed for impairment. Inventories Inventory consists of adaptation rights products, which are stated at the lower of cost (first-in, first-out method) or net realizable value. Management regularly reviews inventory on an item-by-item basis and provides an inventory allowance based on excess or obsolete inventory determined primarily by anticipated future demand for our products. Inventory allowance is measured as the difference between the cost of the inventory and market value, based on assumptions about future demand that are inherently difficult to assess. As of June 30, 2024 and December 31, 2023, the Company did not record an allowance for obsolete inventories, nor have there been any write-offs. Investments Investments in equity investments in publicly traded companies in which the Company does not exercise significant influence are classified as available-for-sale securities. These securities are reported at fair values; based upon quoted market prices, and subsequent changes in the fair value are recognized in profit or loss, in the line item “Change in fair value of marketable securities”. Intangible assets Intangible assets consist of licensed media content, trademarks and trade name. The intangible assets are amortized following the patterns in which the economic benefits are consumed or straight-line over the estimated useful life. The Company periodically reviews the estimated useful lives of these intangible assets and reviews these assets for impairment whenever events or changes in circumstances indicate that the carrying value of the assets may not be recoverable. The determination of impairment is based on estimates of future undiscounted cash flows. If an intangible asset is considered to be impaired, the amount of the impairment will be equal to the excess of the carrying value over the fair value of the asset. There was no Impairment of long-lived assets In accordance with the provisions of ASC Topic 360, “ Impairment or Disposal of Long-Lived Assets” Revenue recognition The Company adopted Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements: · identify the contract with a customer; · identify the performance obligations in the contract; · determine the transaction price; · allocate the transaction price to performance obligations in the contract; and · recognize revenue as the performance obligation is satisfied. Revenue is recognized when the Company satisfies its performance obligation under the contract by transferring the promised product to its customer that obtains control of the product and collection is reasonably assured. A performance obligation is a promise in a contract to transfer a distinct product or service to a customer. Most of the Company’s contracts have a single performance obligation, as the promise to transfer products or services is not separately identifiable from other promises in the contract and, therefore, not distinct. Media & Entertainment Business Sale of licensed IP right and media products: The sale and distribution of the licensed IP right and media content such as images, video, episode and films, in crypto and fiat currency transaction is the only performance obligation under the fixed-fee arrangement. These IP right and media content are individually monetized as non-interchangeable unit of data stored on a blockchain, a form of digital ledger that can be, in the form of a token on the online platform. The revenue is recognized for each sale when the designated content token is transferred to the end user. Transaction fee income: The Company also generates revenue through transaction fees transacted on its platform or other marketplaces. The Company charges a fee to individual customer at the secondary transaction level, which is allocated to the single performance obligation. The transaction fee is collected from the customer in digital assets, with revenue measured based on a certain percentage of the value of digital assets at the time the transaction is executed. The Company’s service is comprised of a single performance obligation to provide a platform facilitating the transfer of its DOTs. The Company considers its performance obligation satisfied, and recognizes revenue, at the point in time the transaction is processed. The transaction consideration the Company receives, if any, is noncash consideration, which the Company measures at fair value on the date received, at which time revenue is recognized. Fair value of the digital asset award received is determined using the average U.S. dollar spot rate of the related digital currency at the time of receipt. Expenses associated with operating the media & entertainment business, such as token minting cost and licensed IP right cost are also recorded as cost of revenues. Amortization on licensed media content is also recorded as a component of cost of revenues. During the six months ended June 30, 2024 and 2023, the following table shows non-cash transactions by digital assets: Schedule of non-cash transactions For the Six Months Ended June 30, 2024 2023 Revenue earned and received by digital assets $ – $ 5,557,710 Cost of revenue paid by digital assets – – Expense paid by digital assets – (5,417,972 ) Revenue is generated and earned from the rendering of marketing and strategic advisory services to the customers. The Company recognizes services revenue over the period in which such services are performed under fixed price contracts. Income taxes The Company adopted the ASC 740 “Income tax” The estimated future tax effects of temporary differences between the tax basis of assets and liabilities are reported in the accompanying balance sheets, as well as tax credit carry-backs and carry-forwards. The Company periodically reviews the recoverability of deferred tax assets recorded on its balance sheets and provides valuation allowances as management deems necessary. Deferred financing costs Costs related to the issuance of commitment shares under equity line are deferred as an asset and amortized to interest expense over the life of the related debt, using the straight-line method. As of June 30, 2024, the deferred financing cost of $ 138,505 Uncertain tax positions The Company did not take any uncertain tax positions and had no adjustments to its income tax liabilities or benefits pursuant to the ASC 740 provisions of Section 740-10-25 for the six months ended June 30, 2024 and 2023. Net loss per share The Company calculates net loss per share in accordance with ASC Topic 260, “ Earnings per Share Foreign currencies translation Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the condensed consolidated statement of operations. The reporting currency of the Company is United States Dollar (“US$”) and the accompanying unaudited condensed consolidated financial statements have been expressed in US$. In addition, the Company is operating in Hong Kong and Singapore, and maintains its books and record in its local currencies, Hong Kong Dollars (“HKD”) and Singapore Dollars (“SGD”) respectively, which are their respective functional currencies, being the primary currency of the economic environment in which their operations are conducted. In general, for consolidation purposes, assets and liabilities of its subsidiaries whose functional currency is not US$ are translated into US$, in accordance with ASC Topic 830-30, “ Translation of Financial Statement Translation of amounts from HKD and SGD into US$ has been made at the following exchange rates for the period ended June 30, 2024 and 2023: Schedule of translation rates June 30, 2024 June 30, 2023 Period-end HKD:US$ exchange rate 0.1281 0.1276 Period average HKD:US$ exchange rate 0.1279 0.1276 Period-end SGD:US$ exchange rate 0.7377 0.7391 Period average SGD:US$ exchange rate 0.7424 0.7484 Comprehensive income (loss) ASC Topic 220, “ Comprehensive Income Related parties The Company follows the ASC 850-10, “Related Party Disclosures” Pursuant to section 850-10-20 the related parties include a) affiliates of the Company; b) entities for which investments in their equity securities would be required, absent the election of the fair value option under the Fair Value Option Subsection of section 825-10-15, to be accounted for by the equity method by the investing entity; c) trusts for the benefit of employees, such as pension and Income-sharing trusts that are managed by or under the trusteeship of management; d) principal owners of the Company; e) management of the Company; f) other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests; and g) other parties that can significantly influence the management or operating policies of the transacting parties or that have an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests. The unaudited condensed consolidated financial statements shall include disclosures of material related party transactions, other than compensation arrangements, expense allowances, and other similar items in the ordinary course of business. However, disclosure of transactions that are eliminated in the preparation of consolidated or combined financial statements is not required in those statements. The disclosures shall include: a) the nature of the relationship(s) involved; b) a description of the transactions, including transactions to which no amounts or nominal amounts were ascribed, for each of the periods for which income statements are presented, and such other information deemed necessary to an understanding of the effects of the transactions on the financial statements; c) the dollar amounts of transactions for each of the periods for which income statements are presented and the effects of any change in the method of establishing the terms from that used in the preceding period; and d) amount due from or to related parties as of the date of each balance sheet presented and, if not otherwise apparent, the terms and manner of settlement. Commitments and contingencies The Company follows the ASC 450-20, “Contingencies” If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s unaudited condensed consolidated financial statements. If the assessment indicates that a potentially material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, and an estimate of the range of possible losses, if determinable and material, would be disclosed. Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the guarantees would be disclosed. Management does not believe, based upon information available at this time that these matters will have a material adverse effect on the Company’s financial position, results of operations or cash flows. However, there is no assurance that such matters will not materially and adversely affect the Company’s business, financial position, and results of operations or cash flows. Fair value of financial instruments The Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and has adopted paragraph 820-10-35-37 of the FASB Accounting Standards Codification (“Paragraph 820-10-35-37”) to measure the fair value of its financial instruments. Paragraph 820-10-35-37 of the FASB Accounting Standards Codification establishes a framework for measuring fair value in generally accepted accounting principles (GAAP), and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, paragraph 820-10-35-37 of the FASB Accounting Standards Codification establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three (3) broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three (3) levels of fair value hierarchy defined by paragraph 820-10-35-37 of the FASB Accounting Standards Codification are described below: Level 1 Quoted market prices available in active markets for identical assets or liabilities as of the reporting date. Level 2 Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 3 Pricing inputs that are generally observable inputs and not corroborated by market data. Financial assets are considered Level 3 when their fair values are determined using pricing models, discounted cash flow methodologies or similar techniques and at least one significant model assumption or input is unobservable. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. If the inputs used to measure the financial assets and liabilities fall within more than one level described above, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument. The carrying amounts of the Company’s financial assets and liabilities, such as cash and cash equivalents, prepaid expenses and other current assets, accrued liabilities and other payable, accrued consulting service fee, amounts due to related parties and income tax payable approximate their fair values because of the short maturity of these instruments. Schedule of fair values of financial instruments Quoted Prices In Significant Other Significant Other Description June 30, 2024 (Level 1) (Level 2) (Level 3) Assets: Marketable equity securities $ 386,684 $ 386,684 $ – $ – Fair value estimates are made at a specific point in time based on relevant market information about the financial instruments. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and, therefore, cannot be determined with precision. Changes in assumptions could significantly affect the estimates. Recent accounting pronouncements From time to time, new accounting pronouncements are issued by the Financial Accounting Standard Board (“FASB”) or other standard setting bodies and adopted by the Company as of the specified effective date. The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and does not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations.

GOING CONCERN UNCERTAINTIES

GOING CONCERN UNCERTAINTIES	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GOING CONCERN UNCERTAINTIES	3. GOING CONCERN UNCERTAINTIES The accompanying unaudited condensed consolidated financial statements have been prepared using the going concern basis of accounting, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has generated a recurring loss of $ 2,146,013 53,986,457 These and other factors raise substantial doubt about the Company’s ability to continue as a going concern. These unaudited condensed consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets and liabilities that may result in the Company not being able to continue as a going concern.

REVENUE FROM CONTRACTS WITH CUS

REVENUE FROM CONTRACTS WITH CUSTOMERS	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
REVENUE FROM CONTRACTS WITH CUSTOMERS	4. REVENUE FROM CONTRACTS WITH CUSTOMERS The table below presents our revenues by revenue source. Schedule of revenue by revenue source For the Three Months Ended June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 Media and entertainment income: Sale of licensed IP right and media products $ 8 $ 3,771,000 $ 78,044 $ 5,418,500 Transaction fee income 637 87,012 15,190 139,210 Total revenues $ 645 $ 3,858,012 $ 93,234 $ 5,557,710 The table below presents our revenues by geographic areas in which our customers were located. Schedule of revenue by geographic areas For the Three Months Ended June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 Hong Kong $ – $ – $ – $ – Rest of the World 645 3,858,012 93,234 5,557,710 Total revenues $ 645 $ 3,858,012 $ 93,234 $ 5,557,710

SHORT-TERM INVESTMENTS

SHORT-TERM INVESTMENTS	6 Months Ended
	Jun. 30, 2024
Investments, All Other Investments [Abstract]
SHORT-TERM INVESTMENTS	5. SHORT-TERM INVESTMENTS Schedule of short term investments June 30, 2024 December 31, 2023 Marketable securities, listed in Hong Kong $ 386,684 $ 667,287 Investments in marketable securities are accounted for at fair value with changes in fair value recognized in net income (loss). This investment was listed and publicly traded on Hong Kong Stock Exchange and it is considered as Level 1 in the fair value hierarchy. As at June 30, 2024, the ownership percentage of the marketable securities, listed in Hong Kong was approximately 4.29%.

PREPAID EXPENSES AND OTHER CURR

PREPAID EXPENSES AND OTHER CURRENT ASSETS	6 Months Ended
	Jun. 30, 2024
Prepaid Expenses And Other Current Assets
PREPAID EXPENSES AND OTHER CURRENT ASSETS	6. PREPAID EXPENSES AND OTHER CURRENT ASSETS Schedule of prepaid expenses and other current assets June 30, 2024 December 31, 2023 Prepayment for technical knowhow license and service $ 593,040 $ 593,040 Other prepayments 106,274 108,676 Other receivables 390 377 $ 699,704 $ 702,093

INTANGIBLE ASSETS

INTANGIBLE ASSETS	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS	7. INTANGIBLE ASSETS As of June 30, 2024 and December 31, 2023, intangible assets consisted of the following: Schedule of intangible assets Estimated June 30, 2024 December 31, 2023 At cost: Licensed media content 3 $ 145,332 $ 149,240 Trademarks and trade name 10 9,101 9,096 154,433 158,336 Less: accumulated amortization (139,480 ) (117,731 ) $ 14,953 $ 40,605 In October 2021, under the Sale and Purchase Agreement with Phoenix Waters Productions (HK) Limited, the Company was granted with an exclusive perpetual worldwide license to mint or produce token products for the distribution of 12-episode series of the video film at a fixed fee. This agreement allowed the Company to sell the corresponding media content by monetizing as non-interchangeable unit of data stored on a blockchain, a form of digital ledger that can be sold on its online platform. The management assessed the commercial life of this licensed media content and determined the estimated life of 3 years. As of June 30, 2024, the estimated amortization expense for intangible assets for each of the succeeding five years and thereafter is as follows: Schedule of future amortization expense for intangible assets Twelve months ending June 30: Amount 2025 $ 12,890 2026 403 2027 311 2028 311 2029 311 Thereafter 727 Total $ 14,953 Amortization of intangible assets was $ 12,503 12,436 Amortization of intangible assets was $ 24,377 24,992

ACCRUED CONSULTING AND SERVICE

ACCRUED CONSULTING AND SERVICE FEE	6 Months Ended
	Jun. 30, 2024
Accrued Consulting And Service Fee
ACCRUED CONSULTING AND SERVICE FEE	8. ACCRUED CONSULTING AND SERVICE FEE For the six months ended June 30, 2024 and 2023, the Company agreed to compensate certain business or professional service providers, which rendered IT development service, sale and marketing service, corporate development service and administrative service. As at June 30, 2024 and December 31, 2023, these consulting and service fees totaled $ 3,614,412 2,154,106

AMOUNTS DUE TO RELATED PARTIES

AMOUNTS DUE TO RELATED PARTIES	6 Months Ended
	Jun. 30, 2024
Amounts Due To Related Parties
AMOUNTS DUE TO RELATED PARTIES	9. AMOUNTS DUE TO RELATED PARTIES The amounts represented temporary advances to the Company’s directors and companies which are controlled by a director of the Company for working capital purpose. These balances were unsecured, interest-free and had no fixed terms of repayments. The related parties balance was $ 2,152,080 1,987,162

STOCKHOLDERS_ EQUITY (DEFICIT)

STOCKHOLDERS’ EQUITY (DEFICIT)	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
STOCKHOLDERS’ EQUITY (DEFICIT)	10. STOCKHOLDERS’ EQUITY (DEFICIT) Preferred stock As of June 30, 2024 and December 31, 2023, the Company’s authorized shares were 30,000,000,000 0.0001 As of June 30, 2024 and December 31, 2023, the Company had 10,000,000 10,000,000 As of June 30, 2024 and December 31, 2023, the Company had 366,346 366,346 As of June 30, 2024 and December 31, 2023, the Company had 1 1 Common stock As of June 30, 2024 and December 31, 2023, the Company’s authorized shares were 270,000,000,000 0.0001 On January 5, 2024, the Company issued 2,764,009 On March 11, 2024, the Company filed its Restated Articles of Incorporation with the Nevada Secretary of State (the “Articles of Incorporation”) to effect a 1-for-3000 reverse stock split of its issued and outstanding Common Stock (the “Reverse Stock Split”) which was approved by the Company’s stockholders at a special meeting in lieu of annual meeting held on February 29, 2023, and issue to all shareholders that directly as a result of the Reverse Stock Split would hold less than 100 shares of common stock of the Company (each, an “Affected Shareholder”) such number of additional shares of common stock so that each Affected Shareholder shall hold 100 shares of common stock of the Company after the Reverse Stock Split, with additional 995,207 All share and per share data throughout these unaudited condensed consolidated financial statements have been retroactively adjusted to reflect the reverse share splits in this Form 10-Q. The total number of authorized common shares did not change. As of June 30, 2024 and December 31, 2023, the Company had 54,355,661 50,596,157

NET LOSS PER SHARE

NET LOSS PER SHARE	6 Months Ended
	Jun. 30, 2024
Net loss per share:
NET LOSS PER SHARE	11. NET LOSS PER SHARE As the Company has net losses for the three and six months ended June 30, 2024 and 2023, all potential common shares were deemed to be anti-dilutive. The following table sets forth the computation of the basic and diluted net loss per share (in dollars, except share data): Schedule of basic and diluted net loss income per share For the Three Months Ended June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 Net loss attributable to common stockholders $ (1,714,074 ) $ (7,381,747 ) $ (2,146,013 ) $ (7,898,742 ) Weighted average common shares outstanding: Basic 38,337,971 1,032,261 96,634,911 1,032,261 Diluted 38,337,971 1,032,261 96,634,911 1,032,261 Net loss per share: Basic # $ (0.04 ) $ (7.15 ) $ (0.02 ) $ (7.65 ) Diluted # $ (0.04 ) $ (7.15 ) $ (0.02 ) $ (7.65 ) # Basic and diluted net loss per share was less than $0.01 The following table presents the computation of weighted average common shares outstanding is derived after having taken into account of common stock that is committed but yet to be issued as follows: Schedule of weighted average common shares outstanding For the Three Months Ended June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 Weighted average common shares outstanding – Basic and Diluted 38,337,971 1,032,261 96,634,911 1,032,261 Common stock committed but yet to be issued (1) – 46,156,239 – 46,156,239 Weighted average common shares outstanding under if-converted method for Basic and Diluted 38,337,971 47,188,500 96,634,911 47,188,500 (1) The common stock committed but yet to be issued has been excluded from the computation of the diluted net loss per common stock for the three and six months ended June 30, 2024 and 2023, because including them would have been anti-dilutive. The shares amounts are presented on a retroactive basis, after the effect of Reverse Stock Split (see Note 10).

INCOME TAX

INCOME TAX	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
INCOME TAX	12. INCOME TAX For the six months ended June 30, 2024 and 2023, the local (“United States of America”) and foreign tax regime incurred loss before income taxes, which comprised of the following: Schedule of income (loss) before income tax For the Six Months Ended 2024 2023 Tax jurisdiction from: - Local $ (311,853 ) $ (295,312 ) - Foreign, including – British Virgin Islands (322,464 ) (293 ) Singapore (1,508,490 ) (7,593,594 ) Hong Kong (3,206 ) (9,543 ) Loss before income taxes $ (2,146,013 ) $ (7,898,742 ) The provision for income taxes consisted of the following: Schedule of provision for income taxes For the Six Months Ended 2024 2023 Current: - Local $ – $ – - Foreign – – Deferred: - Local – – - Foreign – – Income tax expense $ – $ – The effective tax rate in the periods presented is the result of the mix of income earned in various tax jurisdictions that apply a broad range of income tax rate. The Company has operations in Hong Kong and Singapore that are subject to taxes in the jurisdictions in which they operate, as follows: United States of America MVNC is registered in the State of Nevada and is subject to the tax laws of United States of America. The U.S. Tax Cuts and Jobs Act (the “Tax Reform Act”) was signed into law. The Tax Reform Act significantly revised the U.S. corporate income tax regime by, among other things, lowering the U.S. corporate tax rate from 35% to 21% effective January 1, 2018. The Company’s policy is to recognize accrued interest and penalties related to unrecognized tax benefits in its income tax provision. The Company has not accrued or paid interest or penalties which were not material to its results of operations for the periods presented. Deferred tax asset is not provided for as the tax losses may not be able to carry forward after a change in substantial ownership of the Company. For the three and six months ended June 30, 2024 and 2023, there were no operating incomes. BVI Under the current BVI law, the Company is not subject to tax on income. Singapore MPL registered in the Republic of Singapore is subject to the tax laws of Singapore. A subsidiary incorporated in BVI is registered as a branch in Singapore for operating purpose and is also subject to tax in the Republic of Singapore. As at June 30, 2024, the operation in the Singapore incurred $ 37,721,866 6,412,717 Hong Kong The Company’s subsidiaries operating in Hong Kong is subject to the Hong Kong Profits Tax at the two-tiered profits tax rates from 8.25% to 16.5% on the estimated assessable profits arising in Hong Kong during the current period, after deducting a tax concession for the tax year. For the three and six months ended June 30, 2024, the operation in Hong Kong generated an operating loss of $ 3,206 The following table sets forth the significant components of the deferred tax assets of the Company as of June 30, 2024 and December 31, 2023: Schedule of deferred tax assets As of June 30, 2024 December 31, 2023 Deferred tax assets: NOL – US tax regime $ 308,689 $ 243,200 NOL – British Virgin Islands regime – – NOL – Hong Kong tax regime 6,412,717 8,509 NOL – Singapore tax regime 8,273 6,160,661 6,730,369 6,412,370 Less: valuation allowance (6,730,369 ) (6,412,370 ) Deferred tax assets, net $ – $ – As of June 30, 2024 and December 31, 2023, the Company had no unrecognized tax benefits. Interest and penalty charges, if any, related to income taxes would be classified as a component of the provision for income taxes in the consolidated statements of operations. The Company does not expect any significant change in its uncertain tax positions in the next twelve months. The Company filed income tax returns in the United States federal tax jurisdiction and several state tax jurisdictions. Since the Company is in a loss carryforward position, it is generally subject to examination by federal and state tax authorities for all tax years in which a loss carryforward is available.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2024
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	13. RELATED PARTY TRANSACTIONS From time to time, the Company’s directors and companies which are controlled by a director of the Company advanced funds to the Company for working capital purpose. Those advances are unsecured, non-interest bearing and have no fixed terms of repayment. During the three months ended June 30, 2024 and 2023, the Company paid the aggregate amount of $ 0 78,000 0 153,000 During the three months ended June 30, 2024 and 2023, the Company paid the aggregate amount of $ 0 30,000 63,000 60,000 Apart from the transactions and balances detailed elsewhere in these accompanying unaudited condensed consolidated financial statements, the Company has no other significant or material related party transactions during the periods presented.

CONCENTRATIONS OF RISK

CONCENTRATIONS OF RISK	6 Months Ended
	Jun. 30, 2024
Risks and Uncertainties [Abstract]
CONCENTRATIONS OF RISK	14. CONCENTRATIONS OF RISK The Company is exposed to the following concentrations of risk: (a) Major customers For the three and six months ended June 30, 2024, there was no single customer who accounted for 10% or more of the Company’s revenues For the three and six months ended June 30, 2023, there was no single customer who accounted for 10% or more of the Company’s revenues. (b) Economic and political risk The Company’s major operations are conducted in Hong Kong and Singapore. Accordingly, the political, economic, and legal environments, as well as the general state of economy in Hong Kong and Singapore may influence the Company’s business, financial condition, and results of operations. (c) Exchange rate risk The Company cannot guarantee that the current exchange rate will remain steady; therefore, the Company could post the same amount of profit for two comparable periods and because of the fluctuating exchange rate actually post higher or lower profit depending on exchange rate of HKD and SGD converted to US$ on that date. The exchange rate could fluctuate depending on changes in political and economic environments without notice. (d) Market price risk of crypto (“digital”) assets The Company generated certain level of its revenue from the sale and distribution of licensed media token products on its platform by the means of crypto assets by the customers, while revenue from these products have not been significant to date, most of this revenue will also fluctuate based on the price of crypto assets. Accordingly, crypto asset price risk could adversely affect its operating results. In particular, the future profitability may depend upon the market price of BNB, ETH, as well as other crypto assets. Crypto asset prices, along with the operating results, have fluctuated significantly from quarter to quarter. There is no assurance that crypto asset prices will reflect historical trends. A decline in the market price of BTC, ETH and Other crypto assets could have a material and adverse effect on our earnings, the carrying value of the crypto assets, and the future cash flows. This may also affect the liquidity and the ability to meet our ongoing obligations. (e) Liquidity risk Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they become due. The Company’s policy is to ensure that it has sufficient cash to meet its liabilities when they become due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Company’s reputation. A key risk in managing liquidity is the degree of uncertainty in the cash flow projections. If future cash flows are fairly uncertain, the liquidity risk increases.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	15. COMMITMENTS AND CONTINGENCIES Commitments As of June 30, 2024, the Company is committed to the below contractual agreement. Leases As of June 30, 2024, the Company had a virtual office service agreement for its corporate office. The lease contains the renewal option and will expire on 24 September 2024. Other contractual commitments · Williamsburg Venture Holdings, LLC On April 1, 2022, the Company entered into an Equity Purchase Agreement with Williamsburg Venture Holdings, LLC (“Investor”), a Nevada limited liability company, pursuant to which the Investor agreed to invest up to Twenty Million Dollars ($ 20,000,000 19,743,350 Apart from these commitments, the Company has no other material commitments or contingencies, as of June 30, 2024.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	16. SUBSEQUENT EVENTS In accordance with ASC Topic 855, “ Subsequent Events

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation These accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”) for interim financial information pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary to make the financial statements not misleading have been included. Operating results for the period ended June 30, 2024 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2024. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with Management’s Discussion and Analysis, and the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, filed with the SEC on April 16, 2024.
Use of estimates and assumptions	Use of estimates and assumptions 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.
Basis of consolidation	Basis of consolidation The unaudited condensed consolidated financial statements include the accounts of MVNC and its subsidiaries. All significant inter-company balances and transactions within the Company have been eliminated upon consolidation.
Segment reporting	Segment reporting Accounting Standards Codification (“ASC”) 280, “Segment Reporting” establishes standards for reporting information about operating segments on a basis consistent with the Company’s internal organization structure as well as information about geographical areas, business segments and major customers in consolidated financial statements. Currently, the Company operates in two reportable operating segments in Hong Kong and Singapore.
Cash and cash equivalents	Cash and cash equivalents Cash and cash equivalents are carried at cost and represent cash on hand, demand deposits placed with banks or other financial institutions and all highly liquid investments with an original maturity of three months or less as of the purchase date of such investments.
Digital assets	Digital assets The Company’s digital assets represent the cryptocurrencies held in its e-wallet, including Binance USD, Tether, Binance Coin, Ethereum, Polygon, OKB Token and OEC Token. The Company accounts for its digital assets in accordance with Financial Accounting Standards Board (“FASB”) ASC 350, “ General Intangibles Other Than Goodwill The Company’s cryptocurrencies are deemed to have an indefinite useful life. Therefore amounts are not amortized, but rather are assessed for impairment.
Inventories	Inventories Inventory consists of adaptation rights products, which are stated at the lower of cost (first-in, first-out method) or net realizable value. Management regularly reviews inventory on an item-by-item basis and provides an inventory allowance based on excess or obsolete inventory determined primarily by anticipated future demand for our products. Inventory allowance is measured as the difference between the cost of the inventory and market value, based on assumptions about future demand that are inherently difficult to assess. As of June 30, 2024 and December 31, 2023, the Company did not record an allowance for obsolete inventories, nor have there been any write-offs.
Investments	Investments Investments in equity investments in publicly traded companies in which the Company does not exercise significant influence are classified as available-for-sale securities. These securities are reported at fair values; based upon quoted market prices, and subsequent changes in the fair value are recognized in profit or loss, in the line item “Change in fair value of marketable securities”.
Intangible assets	Intangible assets Intangible assets consist of licensed media content, trademarks and trade name. The intangible assets are amortized following the patterns in which the economic benefits are consumed or straight-line over the estimated useful life. The Company periodically reviews the estimated useful lives of these intangible assets and reviews these assets for impairment whenever events or changes in circumstances indicate that the carrying value of the assets may not be recoverable. The determination of impairment is based on estimates of future undiscounted cash flows. If an intangible asset is considered to be impaired, the amount of the impairment will be equal to the excess of the carrying value over the fair value of the asset. There was no
Impairment of long-lived assets	Impairment of long-lived assets In accordance with the provisions of ASC Topic 360, “ Impairment or Disposal of Long-Lived Assets”
Revenue recognition	Revenue recognition The Company adopted Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements: · identify the contract with a customer; · identify the performance obligations in the contract; · determine the transaction price; · allocate the transaction price to performance obligations in the contract; and · recognize revenue as the performance obligation is satisfied. Revenue is recognized when the Company satisfies its performance obligation under the contract by transferring the promised product to its customer that obtains control of the product and collection is reasonably assured. A performance obligation is a promise in a contract to transfer a distinct product or service to a customer. Most of the Company’s contracts have a single performance obligation, as the promise to transfer products or services is not separately identifiable from other promises in the contract and, therefore, not distinct. Media & Entertainment Business Sale of licensed IP right and media products: The sale and distribution of the licensed IP right and media content such as images, video, episode and films, in crypto and fiat currency transaction is the only performance obligation under the fixed-fee arrangement. These IP right and media content are individually monetized as non-interchangeable unit of data stored on a blockchain, a form of digital ledger that can be, in the form of a token on the online platform. The revenue is recognized for each sale when the designated content token is transferred to the end user. Transaction fee income: The Company also generates revenue through transaction fees transacted on its platform or other marketplaces. The Company charges a fee to individual customer at the secondary transaction level, which is allocated to the single performance obligation. The transaction fee is collected from the customer in digital assets, with revenue measured based on a certain percentage of the value of digital assets at the time the transaction is executed. The Company’s service is comprised of a single performance obligation to provide a platform facilitating the transfer of its DOTs. The Company considers its performance obligation satisfied, and recognizes revenue, at the point in time the transaction is processed. The transaction consideration the Company receives, if any, is noncash consideration, which the Company measures at fair value on the date received, at which time revenue is recognized. Fair value of the digital asset award received is determined using the average U.S. dollar spot rate of the related digital currency at the time of receipt. Expenses associated with operating the media & entertainment business, such as token minting cost and licensed IP right cost are also recorded as cost of revenues. Amortization on licensed media content is also recorded as a component of cost of revenues. During the six months ended June 30, 2024 and 2023, the following table shows non-cash transactions by digital assets: Schedule of non-cash transactions For the Six Months Ended June 30, 2024 2023 Revenue earned and received by digital assets $ – $ 5,557,710 Cost of revenue paid by digital assets – – Expense paid by digital assets – (5,417,972 ) Revenue is generated and earned from the rendering of marketing and strategic advisory services to the customers. The Company recognizes services revenue over the period in which such services are performed under fixed price contracts.
Income taxes	Income taxes The Company adopted the ASC 740 “Income tax” The estimated future tax effects of temporary differences between the tax basis of assets and liabilities are reported in the accompanying balance sheets, as well as tax credit carry-backs and carry-forwards. The Company periodically reviews the recoverability of deferred tax assets recorded on its balance sheets and provides valuation allowances as management deems necessary.
Deferred financing costs	Deferred financing costs Costs related to the issuance of commitment shares under equity line are deferred as an asset and amortized to interest expense over the life of the related debt, using the straight-line method. As of June 30, 2024, the deferred financing cost of $ 138,505
Uncertain tax positions	Uncertain tax positions The Company did not take any uncertain tax positions and had no adjustments to its income tax liabilities or benefits pursuant to the ASC 740 provisions of Section 740-10-25 for the six months ended June 30, 2024 and 2023.
Net loss per share	Net loss per share The Company calculates net loss per share in accordance with ASC Topic 260, “ Earnings per Share
Foreign currencies translation	Foreign currencies translation Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the condensed consolidated statement of operations. The reporting currency of the Company is United States Dollar (“US$”) and the accompanying unaudited condensed consolidated financial statements have been expressed in US$. In addition, the Company is operating in Hong Kong and Singapore, and maintains its books and record in its local currencies, Hong Kong Dollars (“HKD”) and Singapore Dollars (“SGD”) respectively, which are their respective functional currencies, being the primary currency of the economic environment in which their operations are conducted. In general, for consolidation purposes, assets and liabilities of its subsidiaries whose functional currency is not US$ are translated into US$, in accordance with ASC Topic 830-30, “ Translation of Financial Statement Translation of amounts from HKD and SGD into US$ has been made at the following exchange rates for the period ended June 30, 2024 and 2023: Schedule of translation rates June 30, 2024 June 30, 2023 Period-end HKD:US$ exchange rate 0.1281 0.1276 Period average HKD:US$ exchange rate 0.1279 0.1276 Period-end SGD:US$ exchange rate 0.7377 0.7391 Period average SGD:US$ exchange rate 0.7424 0.7484
Comprehensive income (loss)	Comprehensive income (loss) ASC Topic 220, “ Comprehensive Income
Related parties	Related parties The Company follows the ASC 850-10, “Related Party Disclosures” Pursuant to section 850-10-20 the related parties include a) affiliates of the Company; b) entities for which investments in their equity securities would be required, absent the election of the fair value option under the Fair Value Option Subsection of section 825-10-15, to be accounted for by the equity method by the investing entity; c) trusts for the benefit of employees, such as pension and Income-sharing trusts that are managed by or under the trusteeship of management; d) principal owners of the Company; e) management of the Company; f) other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests; and g) other parties that can significantly influence the management or operating policies of the transacting parties or that have an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests. The unaudited condensed consolidated financial statements shall include disclosures of material related party transactions, other than compensation arrangements, expense allowances, and other similar items in the ordinary course of business. However, disclosure of transactions that are eliminated in the preparation of consolidated or combined financial statements is not required in those statements. The disclosures shall include: a) the nature of the relationship(s) involved; b) a description of the transactions, including transactions to which no amounts or nominal amounts were ascribed, for each of the periods for which income statements are presented, and such other information deemed necessary to an understanding of the effects of the transactions on the financial statements; c) the dollar amounts of transactions for each of the periods for which income statements are presented and the effects of any change in the method of establishing the terms from that used in the preceding period; and d) amount due from or to related parties as of the date of each balance sheet presented and, if not otherwise apparent, the terms and manner of settlement.
Commitments and contingencies	Commitments and contingencies The Company follows the ASC 450-20, “Contingencies” If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s unaudited condensed consolidated financial statements. If the assessment indicates that a potentially material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, and an estimate of the range of possible losses, if determinable and material, would be disclosed. Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the guarantees would be disclosed. Management does not believe, based upon information available at this time that these matters will have a material adverse effect on the Company’s financial position, results of operations or cash flows. However, there is no assurance that such matters will not materially and adversely affect the Company’s business, financial position, and results of operations or cash flows.
Fair value of financial instruments	Fair value of financial instruments The Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and has adopted paragraph 820-10-35-37 of the FASB Accounting Standards Codification (“Paragraph 820-10-35-37”) to measure the fair value of its financial instruments. Paragraph 820-10-35-37 of the FASB Accounting Standards Codification establishes a framework for measuring fair value in generally accepted accounting principles (GAAP), and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, paragraph 820-10-35-37 of the FASB Accounting Standards Codification establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three (3) broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three (3) levels of fair value hierarchy defined by paragraph 820-10-35-37 of the FASB Accounting Standards Codification are described below: Level 1 Quoted market prices available in active markets for identical assets or liabilities as of the reporting date. Level 2 Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 3 Pricing inputs that are generally observable inputs and not corroborated by market data. Financial assets are considered Level 3 when their fair values are determined using pricing models, discounted cash flow methodologies or similar techniques and at least one significant model assumption or input is unobservable. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. If the inputs used to measure the financial assets and liabilities fall within more than one level described above, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument. The carrying amounts of the Company’s financial assets and liabilities, such as cash and cash equivalents, prepaid expenses and other current assets, accrued liabilities and other payable, accrued consulting service fee, amounts due to related parties and income tax payable approximate their fair values because of the short maturity of these instruments. Schedule of fair values of financial instruments Quoted Prices In Significant Other Significant Other Description June 30, 2024 (Level 1) (Level 2) (Level 3) Assets: Marketable equity securities $ 386,684 $ 386,684 $ – $ – Fair value estimates are made at a specific point in time based on relevant market information about the financial instruments. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and, therefore, cannot be determined with precision. Changes in assumptions could significantly affect the estimates.
Recent accounting pronouncements	Recent accounting pronouncements From time to time, new accounting pronouncements are issued by the Financial Accounting Standard Board (“FASB”) or other standard setting bodies and adopted by the Company as of the specified effective date. The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and does not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations.

ORGANIZATION AND BUSINESS BAC_2

ORGANIZATION AND BUSINESS BACKGROUND (Tables)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Schedule of description of subsidiaries	Schedule of description of subsidiaries Name Place of incorporation and kind of legal entity Principal activities and place of operation Particulars of registered/paid up share capital Effective interest held Marvion Holdings Limited (“MHL”) British Virgin Islands Investment holding 50,000 ordinary shares at par value of US$1 each 100 Marvion Private Limited (“MPL”) Singapore Corporate management and IT development in Singapore 1,000 ordinary shares for S$1,000 100 Marvion Group Limited (“MGL”) British Virgin Islands Procurement of media and entertainment in Singapore 50,000 ordinary shares at par value of US$1 each 100 Marvion (Hong Kong) Limited (“MHKL”) Hong Kong Corporate management in Hong Kong 1,000 ordinary shares for HK$1,000 100 Marvion Studios Limited (“MSL”) Hong Kong Provision of financing, business development solutions & related professional services 10,000 ordinary shares for HK$10,000 100 Marvel Multi-dimensions Limited (“MMDL”) Hong Kong Provision of research & development, IT and consulting services and treasury management for the Group 10,000 ordinary shares for HK$10,000 100

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Schedule of non-cash transactions	Schedule of non-cash transactions For the Six Months Ended June 30, 2024 2023 Revenue earned and received by digital assets $ – $ 5,557,710 Cost of revenue paid by digital assets – – Expense paid by digital assets – (5,417,972 )
Schedule of translation rates	Schedule of translation rates June 30, 2024 June 30, 2023 Period-end HKD:US$ exchange rate 0.1281 0.1276 Period average HKD:US$ exchange rate 0.1279 0.1276 Period-end SGD:US$ exchange rate 0.7377 0.7391 Period average SGD:US$ exchange rate 0.7424 0.7484
Schedule of fair values of financial instruments	Schedule of fair values of financial instruments Quoted Prices In Significant Other Significant Other Description June 30, 2024 (Level 1) (Level 2) (Level 3) Assets: Marketable equity securities $ 386,684 $ 386,684 $ – $ –

REVENUE FROM CONTRACTS WITH C_2

REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of revenue by revenue source	Schedule of revenue by revenue source For the Three Months Ended June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 Media and entertainment income: Sale of licensed IP right and media products $ 8 $ 3,771,000 $ 78,044 $ 5,418,500 Transaction fee income 637 87,012 15,190 139,210 Total revenues $ 645 $ 3,858,012 $ 93,234 $ 5,557,710
Schedule of revenue by geographic areas	Schedule of revenue by geographic areas For the Three Months Ended June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 Hong Kong $ – $ – $ – $ – Rest of the World 645 3,858,012 93,234 5,557,710 Total revenues $ 645 $ 3,858,012 $ 93,234 $ 5,557,710

SHORT-TERM INVESTMENTS (Tables)

SHORT-TERM INVESTMENTS (Tables)	6 Months Ended
	Jun. 30, 2024
Investments, All Other Investments [Abstract]
Schedule of short term investments	Schedule of short term investments June 30, 2024 December 31, 2023 Marketable securities, listed in Hong Kong $ 386,684 $ 667,287

PREPAID EXPENSES AND OTHER CU_2

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables)	6 Months Ended
	Jun. 30, 2024
Prepaid Expenses And Other Current Assets
Schedule of prepaid expenses and other current assets	Schedule of prepaid expenses and other current assets June 30, 2024 December 31, 2023 Prepayment for technical knowhow license and service $ 593,040 $ 593,040 Other prepayments 106,274 108,676 Other receivables 390 377 $ 699,704 $ 702,093

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of intangible assets	Schedule of intangible assets Estimated June 30, 2024 December 31, 2023 At cost: Licensed media content 3 $ 145,332 $ 149,240 Trademarks and trade name 10 9,101 9,096 154,433 158,336 Less: accumulated amortization (139,480 ) (117,731 ) $ 14,953 $ 40,605
Schedule of future amortization expense for intangible assets	Schedule of future amortization expense for intangible assets Twelve months ending June 30: Amount 2025 $ 12,890 2026 403 2027 311 2028 311 2029 311 Thereafter 727 Total $ 14,953

NET LOSS PER SHARE (Tables)

NET LOSS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2024
Net loss per share:
Schedule of basic and diluted net loss income per share	Schedule of basic and diluted net loss income per share For the Three Months Ended June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 Net loss attributable to common stockholders $ (1,714,074 ) $ (7,381,747 ) $ (2,146,013 ) $ (7,898,742 ) Weighted average common shares outstanding: Basic 38,337,971 1,032,261 96,634,911 1,032,261 Diluted 38,337,971 1,032,261 96,634,911 1,032,261 Net loss per share: Basic # $ (0.04 ) $ (7.15 ) $ (0.02 ) $ (7.65 ) Diluted # $ (0.04 ) $ (7.15 ) $ (0.02 ) $ (7.65 ) # Basic and diluted net loss per share was less than $0.01
Schedule of weighted average common shares outstanding	Schedule of weighted average common shares outstanding For the Three Months Ended June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 Weighted average common shares outstanding – Basic and Diluted 38,337,971 1,032,261 96,634,911 1,032,261 Common stock committed but yet to be issued (1) – 46,156,239 – 46,156,239 Weighted average common shares outstanding under if-converted method for Basic and Diluted 38,337,971 47,188,500 96,634,911 47,188,500 (1) The common stock committed but yet to be issued has been excluded from the computation of the diluted net loss per common stock for the three and six months ended June 30, 2024 and 2023, because including them would have been anti-dilutive.

INCOME TAX (Tables)

INCOME TAX (Tables)	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Schedule of income (loss) before income tax	Schedule of income (loss) before income tax For the Six Months Ended 2024 2023 Tax jurisdiction from: - Local $ (311,853 ) $ (295,312 ) - Foreign, including – British Virgin Islands (322,464 ) (293 ) Singapore (1,508,490 ) (7,593,594 ) Hong Kong (3,206 ) (9,543 ) Loss before income taxes $ (2,146,013 ) $ (7,898,742 )
Schedule of provision for income taxes	Schedule of provision for income taxes For the Six Months Ended 2024 2023 Current: - Local $ – $ – - Foreign – – Deferred: - Local – – - Foreign – – Income tax expense $ – $ –
Schedule of deferred tax assets	Schedule of deferred tax assets As of June 30, 2024 December 31, 2023 Deferred tax assets: NOL – US tax regime $ 308,689 $ 243,200 NOL – British Virgin Islands regime – – NOL – Hong Kong tax regime 6,412,717 8,509 NOL – Singapore tax regime 8,273 6,160,661 6,730,369 6,412,370 Less: valuation allowance (6,730,369 ) (6,412,370 ) Deferred tax assets, net $ – $ –

ORGANIZATION AND BUSINESS BAC_3

ORGANIZATION AND BUSINESS BACKGROUND (Details)	6 Months Ended
	Jun. 30, 2024
Marvion Holdings Limited [Member]
Place of incorporation and kind of legal entity	British Virgin Islands
Principal activity and place of operation	Investment holding
Particulars of registered/paid up share capital	50,000 ordinary shares at par value of US$1 each
Effective interest held	100%
Marvion Private Limited [Member]
Place of incorporation and kind of legal entity	Singapore
Principal activity and place of operation	Corporate management and IT development in Singapore
Particulars of registered/paid up share capital	1,000 ordinary shares for S$1,000
Effective interest held	100%
Marvion Group Limited [Member]
Place of incorporation and kind of legal entity	British Virgin Islands
Principal activity and place of operation	Procurement of media and entertainment in Singapore
Particulars of registered/paid up share capital	50,000 ordinary shares at par value of US$1 each
Effective interest held	100%
Marvion Hong Kong Limited [Member]
Place of incorporation and kind of legal entity	Hong Kong
Principal activity and place of operation	Corporate management in Hong Kong
Particulars of registered/paid up share capital	1,000 ordinary shares for HK$1,000
Effective interest held	100%
Marvion Studios Limited [Member]
Place of incorporation and kind of legal entity	Hong Kong
Principal activity and place of operation	Provision of financing, business development solutions & related professional services
Particulars of registered/paid up share capital	10,000 ordinary shares for HK$10,000
Effective interest held	100%
Marvel Multi Dimensions Limited [Member]
Place of incorporation and kind of legal entity	Hong Kong
Principal activity and place of operation	Provision of research & development, IT and consulting services and treasury management for the Group
Particulars of registered/paid up share capital	10,000 ordinary shares for HK$10,000
Effective interest held	100%

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details - Non-cash transactions) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Product Information [Line Items]
Revenue earned and received by digital assets	$ 645	$ 3,858,012	$ 93,234	$ 5,557,710
Cost of revenue paid by digital assets	$ (12,503)	$ (12,626)	(82,660)	(1,414,743)
Digital Assets [Member]
Product Information [Line Items]
Revenue earned and received by digital assets			0	5,557,710
Cost of revenue paid by digital assets			0	0
Expense paid by digital assets			$ 0	$ (5,417,972)

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details - Translation rates)	Jun. 30, 2024	Jun. 30, 2023
Period End [Member] | HONG KONG
Intra-Entity Foreign Currency Balance [Line Items]
Translation rate	0.1281	0.1276
Period End [Member] | SINGAPORE
Intra-Entity Foreign Currency Balance [Line Items]
Translation rate	0.7377	0.7391
Period Average [Member] | HONG KONG
Intra-Entity Foreign Currency Balance [Line Items]
Translation rate	0.1279	0.1276
Period Average [Member] | SINGAPORE
Intra-Entity Foreign Currency Balance [Line Items]
Translation rate	0.7424	0.7484

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details - Fair value assets) - Marketable Equity Securities [Member]	Jun. 30, 2024 USD ($)
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Fair value of assets	$ 386,684
Fair Value, Inputs, Level 1 [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Fair value of assets	386,684
Fair Value, Inputs, Level 2 [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Fair value of assets	0
Fair Value, Inputs, Level 3 [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Fair value of assets	$ 0

SUMMARY OF SIGNIFICANT ACCOUN_7

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Accounting Policies [Abstract]
Impairment of intangible assets	$ 0	$ 0	$ 0	$ 0
Deferred financing cost	$ 0	$ 57,611	$ 138,505	$ 57,611

GOING CONCERN UNCERTAINTIES (De

GOING CONCERN UNCERTAINTIES (Details Narrative) - USD ($)	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Recurring loss	$ 1,714,074	$ 431,939	$ 7,381,747	$ 516,995	$ 2,146,013	$ 7,898,742
Accumulated deficit	$ 53,986,457				$ 53,986,457		$ 51,840,444

REVENUE FROM CONTRACTS WITH C_3

REVENUE FROM CONTRACTS WITH CUSTOMERS (Details - Revenue from source) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Total revenues	$ 645	$ 3,858,012	$ 93,234	$ 5,557,710
License [Member]
Disaggregation of Revenue [Line Items]
Total revenues	8	3,771,000	78,044	5,418,500
Transaction Fee Income [Member]
Disaggregation of Revenue [Line Items]
Total revenues	$ 637	$ 87,012	$ 15,190	$ 139,210

REVENUE FROM CONTRACTS WITH C_4

REVENUE FROM CONTRACTS WITH CUSTOMERS (Details - Revenue by geographic areas) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Total revenues	$ 645	$ 3,858,012	$ 93,234	$ 5,557,710
HONG KONG
Disaggregation of Revenue [Line Items]
Total revenues	0	0	0	0
Rest Of The World [Member]
Disaggregation of Revenue [Line Items]
Total revenues	$ 645	$ 3,858,012	$ 93,234	$ 5,557,710

SHORT-TERM INVESTMENTS (Details

SHORT-TERM INVESTMENTS (Details - Marketable securities) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Investments, All Other Investments [Abstract]
Marketable securities, listed in Hong Kong	$ 386,684	$ 667,287

PREPAID EXPENSES AND OTHER CU_3

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Prepaid expenses and other current assets	$ 699,704	$ 702,093
Prepayment For Technical Knowhow License And Service [Member]
Prepaid expenses and other current assets	593,040	593,040
Other Prepayments [Member]
Prepaid expenses and other current assets	106,274	108,676
Other Receivables [Member]
Prepaid expenses and other current assets	$ 390	$ 377

INTANGIBLE ASSETS (Details)

INTANGIBLE ASSETS (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 154,433	$ 158,336
Less: accumulated amortization	(139,480)	(117,731)
Intangible assets, net	$ 14,953	40,605
Licensed Media Content [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	3 years
Intangible assets, gross	$ 145,332	149,240
Trademarks and Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	10 years
Intangible assets, gross	$ 9,101	$ 9,096

INTANGIBLE ASSETS (Details - Fu

INTANGIBLE ASSETS (Details - Future amortization of intangible assets) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
2025	$ 12,890
2026	403
2027	311
2028	311
2029	311
Thereafter	727
Total	$ 14,953	$ 40,605

INTANGIBLE ASSETS (Details Narr

INTANGIBLE ASSETS (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 12,503	$ 12,436	$ 24,377	$ 24,992

ACCRUED CONSULTING AND SERVIC_2

ACCRUED CONSULTING AND SERVICE FEE (Details Narrative) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Accrued Consulting And Service Fee
Consulting and service fees	$ 3,614,412	$ 2,154,106

AMOUNTS DUE TO RELATED PARTIES

AMOUNTS DUE TO RELATED PARTIES (Details Narrative) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Amounts Due To Related Parties
Due to related parties	$ 2,152,080	$ 1,987,162

STOCKHOLDERS_ EQUITY (DEFICIT)

STOCKHOLDERS’ EQUITY (DEFICIT) (Details Narrative) - $ / shares	Mar. 11, 2024	Jan. 05, 2024	Jun. 30, 2024	Dec. 31, 2023
Class of Stock [Line Items]
Preferred stock, shares authorized			30,000,000,000	30,000,000,000
Preferred stock, par value			$ 0.0001	$ 0.0001
Common stock, shares authorized			270,000,000,000	270,000,000,000
Common stock, par value			$ 0.0001	$ 0.0001
Reverse stock split, additional fractional shares	995,207
Common stock, shares issued			54,355,661	50,596,157
Common stock, shares outstanding			54,355,661	50,596,157
Consultants [Member]
Class of Stock [Line Items]
Stock issued service, shares		2,764,009
Series A Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized			10,000,000	10,000,000
Preferred stock, par value			$ 0.0001	$ 0.0001
Preferred stock, shares outstanding			10,000,000	10,000,000
Preferred stock, shares issued			10,000,000	10,000,000
Series B Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized			1,000,000	1,000,000
Preferred stock, par value			$ 0.0001	$ 0.0001
Preferred stock, shares outstanding			366,346	366,346
Preferred stock, shares issued			366,346	366,346
Series C Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized			1	1
Preferred stock, par value			$ 0.001	$ 0.001
Preferred stock, shares outstanding			1	1
Preferred stock, shares issued			1	1

NET LOSS PER SHARE (Details - L

NET LOSS PER SHARE (Details - Loss per share) - USD ($)		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Net loss per share:
Net loss attributable to common stockholders		$ (1,714,074)	$ (7,381,747)	$ (2,146,013)	$ (7,898,742)
Weighted average common shares outstanding:
Basic	[1]	38,337,971	1,032,261	96,634,911	1,032,261
Diluted	[1]	38,337,971	1,032,261	96,634,911	1,032,261
Net loss per share:
Basic #	[2]	$ (0.04)	$ (7.15)	$ (0.02)	$ (7.65)
Diluted #	[2]	$ (0.04)	$ (7.15)	$ (0.02)	$ (7.65)
[1]The shares amounts are presented on a retroactive basis, after the effect of Reverse Stock Split (see Note 10).[2]Less than $0.001

NET LOSS PER SHARE (Details - W

NET LOSS PER SHARE (Details - Weighted average shares) - shares		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Net loss per share:
Weighted average common shares outstanding - Basic and Diluted	[1]	38,337,971	1,032,261	96,634,911	1,032,261
Common stock committed but yet to be issued	[2]	0	46,156,239	0	46,156,239
Weighted average common shares outstanding under if-converted method for Basic and Diluted		38,337,971	47,188,500	96,634,911	47,188,500
[1]The shares amounts are presented on a retroactive basis, after the effect of Reverse Stock Split (see Note 10).[2]The common stock committed but yet to be issued has been excluded from the computation of the diluted net loss per common stock for the three and six months ended June 30, 2024 and 2023, because including them would have been anti-dilutive.

INCOME TAX (Details - Reconcila

INCOME TAX (Details - Reconcilation of taxes) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Effective Income Tax Rate Reconciliation [Line Items]
(Loss) income before income taxes	$ (1,714,074)	$ (7,381,747)	$ (2,146,013)	$ (7,898,742)
Domestic Tax Jurisdiction [Member]
Effective Income Tax Rate Reconciliation [Line Items]
(Loss) income before income taxes			(311,853)	(295,312)
Foreign Tax Jurisdiction [Member] | VIRGIN ISLANDS, BRITISH
Effective Income Tax Rate Reconciliation [Line Items]
(Loss) income before income taxes			(322,464)	(293)
Foreign Tax Jurisdiction [Member] | SINGAPORE
Effective Income Tax Rate Reconciliation [Line Items]
(Loss) income before income taxes			(1,508,490)	(7,593,594)
Foreign Tax Jurisdiction [Member] | HONG KONG
Effective Income Tax Rate Reconciliation [Line Items]
(Loss) income before income taxes			$ (3,206)	$ (9,543)

INCOME TAX (Details - Current a

INCOME TAX (Details - Current and deferred Income tax expense) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Current:
- Local			$ 0	$ 0
- Foreign			0	0
Deferred:
- Local			0	0
- Foreign			0	0
Income tax expense	$ 0	$ 0	$ 0	$ 0

INCOME TAX (Details - Deferred

INCOME TAX (Details - Deferred tax assets) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Effective Income Tax Rate Reconciliation [Line Items]
Deferred tax assets, gross	$ 6,730,369	$ 6,412,370
Less: valuation allowance	(6,730,369)	(6,412,370)
Deferred tax assets, net	0	0
US Tax Regime [Member]
Effective Income Tax Rate Reconciliation [Line Items]
Deferred tax assets, gross	308,689	243,200
British Virgin Islands Regime [Member]
Effective Income Tax Rate Reconciliation [Line Items]
Deferred tax assets, gross	0	0
Hong Kong Tax Regime [Member]
Effective Income Tax Rate Reconciliation [Line Items]
Deferred tax assets, gross	6,412,717	8,509
Singapore Tax Regime [Member]
Effective Income Tax Rate Reconciliation [Line Items]
Deferred tax assets, gross	$ 8,273	$ 6,160,661

INCOME TAX (Details Narrative)

INCOME TAX (Details Narrative)	6 Months Ended
	Jun. 30, 2024 USD ($)
Operating loss	$ 37,721,866
Deferred tax assets	6,412,717
HONG KONG
Operating loss	$ 3,206

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - Director [Member] - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Consultancy fees	$ 0	$ 78,000	$ 0	$ 153,000
Compensation fees paid to directors	$ 0	$ 30,000	$ 63,000	$ 60,000

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)	Jun. 30, 2024	Apr. 02, 2022
Commitments and Contingencies Disclosure [Abstract]
Investment amount		$ 20,000,000
Remaining balance of equity purchase agreement	$ 19,743,350