ORGANIZATION AND BUSINESS BACKGROUND

9 Months Ended

Sep. 30, 2022

Accounting Policies [Abstract]

ORGANIZATION AND BUSINESS BACKGROUND

1.       ORGANIZATION AND BUSINESS BACKGROUND

Bonanza Goldfields Corp. 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 Hong Kong.

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	British Virgin Islands	Investment holding	50,000 ordinary shares at par value of US$1 each	100%
Marvion Private Limited	Singapore	Corporate management and IT development in Singapore	1,000 ordinary shares for S$1,000	100%
Marvion Group Limited	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	Hong Kong	Corporate management in Hong Kong	1,000 ordinary shares for HK$1,000	100%
Typerwise Limited	Hong Kong	Provision of financing, business development solutions & related professional services	10,000 ordinary shares for HK$10,000	100%
Marvel Multi-dimensions Limited (1)	Hong Kong	Provision of treasury management services	10,000 ordinary shares for HK$10,000	100%

⁽¹⁾ Marvel Multi-dimensions Limited was acquired by Marvion Holdings Limited on January 31, 2022.