Company: LDDD
Filing Date: 2025-09-26
Form Type: 10-K
Source: 0001213900-25-091988
Chunk: 65

Company: Longduoduo Co Ltd
Filing Date: 2025-09-26
Form: 10-K
Item: Item 1
Chunk 65
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ODUO
COMPANY LIMITED AND SUBSIDIARIES

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

FOR
THE YEARS ENDED JUNE 30, 2025 AND JUNE 30, 2024

G.
Property and equipment

Property
and equipment are stated at cost. Expenditures for maintenance and repairs are charged to operations when incurred, while additions and
betterments are capitalized. Depreciation is recorded on a straight-line basis over the useful lives of the assets. When assets are retired
or disposed, the asset’s original cost and related accumulated depreciation are eliminated from those accounts and any gain or
loss is reflected in income.

The
Company capitalizes certain costs associated with the acquisition of software. Once the software is ready for its intended use, these
costs are amortized on a straight-line basis over the software’s expected useful life.

The
estimated useful lives for property and equipment categories are as follows:

    Office equipment
    and furniture
     
    3 years
  
    Leasehold Improvements
     
    1-5 years

H.
Intangible Assets

Intangible
assets consist of software. Intangible assets are initially recognized at their respective acquisition costs. All of the Company’s
intangible assets have been determined to have finite useful lives and are, therefore, amortized using the straight-line method over
their estimated useful lives:

  Software   3 years 

I.
Fair value measurements

The
Company applies the provisions of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”)
Section 820, Fair Value Measurements (“ASC 820”), for fair value measurements of financial assets and financial
liabilities and for fair value measurements of nonfinancial items that are recognized or disclosed at fair value in the financial statements.
ASC 820 also establishes a framework for measuring fair value and expands disclosures about fair value measurements.

Fair
value is defined as the price that would be received when selling an asset or paid to transfer a liability in an orderly transaction
between market participants at the measurement date. In determining the fair value for the assets and liabilities required or permitted
to be recorded, the Company considers the principal or most advantageous market in which it would transact, and it considers assumptions
that market participants would use when pricing the asset or liability.

ASC
820 establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable