Company: LDDD
Filing Date: 2025-09-26
Form Type: 10-K
Source: 0001213900-25-091988
Chunk: 383

Company: Longduoduo Co Ltd
Filing Date: 2025-09-26
Form: 10-K
Item: Item 4
Chunk 383
---
,846 in the PRC that expire through 2030. Due to the uncertainty of utilizing these carry
forwards, the Company provided a 100% allowance on all deferred tax assets of approximately $103,712 and $9,696 related to
its operations in the PRC as of June 30, 2025 and 2024, respectively. The PRC valuation allowance has increased by $ 94,016 and
decreased by $77,798 for the years ended June 30, 2025 and 2024, respectively.

The
Company incurred losses from its United States operations during the year ended June 30, 2025 of approximately $219,614. The Company’s
United States operations consist solely of ownership of its foreign subsidiaries, and the losses arise from administration expenses.
Accordingly, management provided a 100% valuation allowance of approximately $259,555 and $199,817 against the deferred
tax assets related to the Company’s United States operations as of June 30, 2025 and 2024, respectively, because the deferred tax
benefits of the net operating loss carry forwards in the United States are not likely to be utilized. The US valuation allowance has
increased by approximately $59,738 and $28,490 for the years ended June 30, 2025, and 2024, respectively.

The
Company is subject to examination by the Internal Revenue Service (IRS) in the United States as well as by the taxing authorities in
China, where the Company has significant business operations. The table below presents the earliest tax year that remains subject
to examination by major jurisdiction. 

      Earliest tax year that remains subject to examination    U.S. Federal   June 30, 2021    China   June 30, 2020   

NOTE
7. LEASES

On
April 1 of 2024, Tianju leased office space (approximately 595 square meters) under an operating lease agreement with Sun Xueqin. Under
the terms of the agreement, Tianju is committed to make lease payments of approximately $19,000 (RMB137,000) annually for the period
between April 1, 2024 and March 31, 2027.

F-14

LONGDUODUO
COMPANY LIMITED AND SUBSIDIARIES

NOTES
TO CONSOLIDATED FINANCIAL