Company: IDVV
Filing Date: 2025-09-18
Form Type: 10-12G/A
Source: 0001683168-25-007099
Chunk: 139

Company: ModuLink Inc.
Filing Date: 2025-09-18
Form: 10-12G/A
Chunk 139
---
 of MIL, exercised continuous and effective control over both entities throughout the
transaction period. The same individuals served as directors and majority shareholders of both IDVV and MIL after the change of control
in February 2025, and coordinated the Share Exchange as part of a single strategic plan to reorganize MIL under a public entity. Upon
the consummation of acquisition on May 1, 2025, MIL became the ongoing operating entity of the Company.

Accordingly, the transaction is accounted for
as a reverse recapitalization of the Company, with MIL deemed the accounting acquirer and the Company treated as the accounting acquiree
for financial reporting purposes. Under the guidance in Accounting Standard Codification (ASC) Topic 805, for transactions between entities
under common control, the assets, liabilities and results of operations, are recognized at their carrying amounts as of the consummation
date of the Share Exchange. This accounting treatment requires a retrospective presentation and combination of the consolidated financial
statements as if the share exchange and disposal of original business had occurred and the current group structure had existed at the
beginning of the earliest reporting period presented. Accordingly, the historical financial statements of the Company reflect those of
the accounting acquirer, i.e. the ModuLink Group, prior to the transaction, accompanied by a recapitalization of the Company’s equity
structure.

During the three months ended March 31, 2025 and
2024, the Company and ModuLink Group (collectively referred to the “Group”) generated revenues exclusively from modular building
construction and design services business.

Going Concern

The Company's consolidated financial statements
are prepared using accounting principles generally accepted in the United States of America, or U.S. GAAP, applicable to a going concern
which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has incurred
losses of $206,876 and has net cash used in operating activities of $811,255 for the three months ended March 31, 2025. In addition,
as at the reporting date, the Company has accumulated deficit of $3,056,607. These factors raise substantial doubt about the Company’s
ability to continue as a going concern. The Company’s plans regarding those concerns are addressed in the following paragraph.
The accompany consolidated financial statements do not reflect any adjustments that might result from the outcome of these uncertainties.

The Company plans to secure additional funding
to support its current operations, expected future growth and strategic objectives