TVCN 10-K & 10-Q changes, risk factors and insider trading

Results of operations. This section contains an analysis of our results of operations presented in the accompanying audited Statements of Operations for the fiscal year ended December 31, 2025. Additionally, this section also contains an analysis of the unaudited Statements of Operations for the six months ended MarchJune 31,30, 2026.

Liquidity and capital resources. This section provides an analysis of our cash flows at December 31, 2025 and MarchJune 31,30, 2026.

For the six month periods ending MarchJune 31,30, 2026 and 2025, the Company was still in the development process, and had no revenues, as the Company’s focus has been on increasing free subscribers to our platform and negotiating with content providers to sign up as part of our network. Similarly, for the fiscal years ending December 31, 2025 and 2023,2024, the Company was still in the development process and had no revenues.

For the threesix month periods ending MarchJune 31,30, 2026 and 2025, as well as the fiscal years ending December 31, 2025 and 2024, the Company was still in the development process, and incurred no cost of services, as the focus was on increasing free subscribers (which did not generate revenue) and developing a system to manage the cost of future revenues.

Our general and administrative expenses for the year ending December 31, 2025, were $131,954, as compared to $138,812 for the year ending December 31, 2024. Our general and administrative expenses for the threesix months ending MarchJune 31,30, 2026, were $32,680,$61,346, as compared to $25,581$52,766 in the comparative period in 2025. The increase was primarily attributed to increasing operations in the threesix months ending MarchJune 31,30, 2026, as compared to the threesix months ending MarchJune 31,30, 2025.

As of MarchJune 31,30, 2026, the Company had approximately $199,029$184,292 in total assets, as compared to $143,416$143,607 in total assets as of December 31, 2025. The increase is primarily attributable to an increase in cash and cash equivalents held by the Company..

Total liabilities increased from $488,452 in the fiscal year ending December 31, 2025, to $576,554$590,483 for the threesix months ended MarchJune 31,30, 2026, primarily from an increase in accounts payable from $336,207 as of December 31, 2025 to $369,281$398,969 as of MarchJune 31,30, 2026. The increase of $33,074$62,762 in accounts payable is due to advances made to the Company by shareholders for operating expenses. The current portion of operating lease liability increased from $63,156 to $64,903,$66,713, offset by a decrease in noncurrent operating lease liability from $89,089 to $72,370.$54,791.

The Company is developing a website that manages the library of the movies and the customer subscriptions, any amount paid toward the development of the website is capitalized. During 2023,2025, the software iswas tested for impairment and is carried at cost less impairment loss. There has been no change in the year 2025.2026.

As of MarchJune 31,30, 2026, we did not have any off-balance sheet arrangements as defined in Item 303(a)(4)(ii) of Regulation S-K and did not have any commitments or contractual obligations.