Some key financial highlights in first half of 2023 as compared to same period in 2022 include – Revenue increased by 5 times and Gross Profit increased by 17 times
SINGAPORE, Aug. 8, 2023 /PRNewswire/ -- Marvion Inc. (OTC: BONZ), a leading Metaverse Blockchain company, has announced its robust financial results for the second quarter of 2023 through the filing of its 10-Q quarterly report.
According to the 10-Q report, Marvion built on last year's momentum and saw growing business activities in the six months ended June 30, 2023.
The company reported a significant increase in revenue, with US$5,557,710 for the first six months of 2023 in comparison to US$1,094,031 for the same period in 2022 – 5 times increase for the same period the year before. This extraordinary growth underscores Marvion's ability to leverage its cutting-edge technologies to create value within the digital asset and blockchain industry.
All the investments translated to an overall increase in Marvion's gross profit in first half of 2023 at US$4,142,967. This was a substantial surge compared to US$232,839 in the same period of 2022. The 17 times growth in gross profit demonstrates the company's capacity to optimize its operational efficiency and capitalize on emerging opportunities within the Metaverse ecosystem.
"We are extremely pleased with the financial results presented in our Q2 2023 quarterly report," stated Raymond Chua, CEO of Marvion Private Limited. "These remarkable figures underscore the dedication and hard work of the entire Marvion team, as well as the growing demand for our innovative Metaverse Blockchain solutions. As we continue to redefine digital ownership and engagement, we are poised to unlock even greater potential in the coming quarters."
For more information about Marvion and its transformative Metaverse Blockchain solutions, please visit www.marvion.media.
Forward Looking Statements
This press release contains forward-looking statements. All statements other than statements of historical fact are forward-looking statements, which are often indicated by terms such as "anticipate," "believe," "could," "estimate," "expect," "goal," "intend," "look forward to," "may," "plan," "potential," "predict," "project," "should," "will," "would" and similar expressions. These forward-looking statements may include, but are not limited to, statements regarding future business activities including the expansion into the decentralized financing space. These forward-looking statements are not promises or guarantees and involve substantial risks and uncertainties. Among the factors that could cause actual results to differ materially from those described or projected herein include uncertainties associated with operating a business in Singapore and Hong Kong, risk of interference by the PRC government, ability to compete, that financial resources do not last for as long as anticipated, and that BONZ is a holding company that may not realize the expected benefits of DOT's offered by Marvion™️. A further list and description of these risks, uncertainties and other risks can be found in BONZ's regulatory filings with the U.S. Securities and Exchange Commission, including in its annual report on Form 10-K filed on April 17, 2023. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. BONZ undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise.
For media queries, please contact:
media@marvion.media
About BONZ
Bonanza Goldfields Corporation is a Nevada holding company that through its subsidiaries are engaged in the media distribution business. Specifically, we provide authentication, valuation and certification ("AVC") service, sale and purchase, hire purchase, financing, custody, security and exhibition ("CSE") services to buyers of movie and music media through traditional channels as well as through leveraging blockchain technology through the creation of digital ownership tokens ("DOTs").
The group is building an ecosystem and a metaverse for the media and entertainment industry that implements and adopts blockchain and NFT technologies, through mergers and acquisitions.
About Marvion™️
Marvion is a global company headquartered in Singapore. It is one of the first public-listed Web 3.0 group with market-leading technologies and ecosystem that aims to be the driver behind the world's transition into Web 3.0. We offer services, access and content and provide the necessary tools for creators to create unique content in the Web 3.0.
More Information about Marvion™️:
Website: www.marvion.media
Facebook: www.facebook.com/marvionmetaverse
Instagram: www.instagram.com/marvion.media
Twitter: www.twitter.com/marvion_media
LinkedIn: www.linkedin.com/company/marvion
Telegram: https://t.me/c/1714353647
About Marvion's DOT
Marvion's DOTs are integrated, best in class, digital ownership token (DOT) that contains a smart contract that can execute transactions and also contains the specific legal terms of the intellectual property ownership, license and/or rights. Each DOT contains the following:
- A copy of the SPA for the purchase of the master license.
- Evidence or warranty of ownership of the relevant intellectual property.
- Ownership of the sub-license detailing the rights of the DOT holder.
- Image/video/music or other file depending on what the asset is.
View original content:https://www.prnewswire.com/news-releases/marvions-reports-strong-growth-in-business-activities-2023-q2-301895472.html
SOURCE Bonanza Goldfields Corp.
