Company: IDVV
Filing Date: 2025-07-03
Form Type: 10-12G/A
Source: 0001683168-25-004925
Chunk: 99

Company: ModuLink Inc.
Filing Date: 2025-07-03
Form: 10-12G/A
Chunk 99
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wan Lee - Paul Y. JV |     | $                                 | 114,487 |     |             | 100% |
| Total:                       |     | $                                 | 114,487 |     |             | 100% |

The increase in revenue by approximately 275%
was primarily due to the income recognised from new design and management service project during the three months ended March 31, 2025.

Cost of Revenue

Cost of services were $379,550 and $103,467, for
the three months ended March 31, 2025 and 2024 respectively. The increase was in consistent with the revenue recognised during the periods.

Gross Profit

We achieved a gross profit
of $49,546 and $11,020 for the three months ended March 31, 2025 and 2024, respectively. The increase in gross profit is attributable
to the addition of project design and management services income during the three months ended March 31, 2025.

General and administrative expenses (“G&A expenses”)

General and administrative
expenses of $247,113 and $7,858 for the three months ended March 31, 2025 and 2024, respectively. These expenses primarily include
advertising and marketing expenses, business development, professional and consultancy fees, personnel related expenses, as well as costs
incurred in connection with general operations of the Company. The significant increase in G&A expenses was primarily due to continued
business expansion of our subsidiaries and professional fees incurred in relation to the business combination.

Income Tax Expense

We incurred income tax expense of $8,822 and $1,809
during the three months ended March 31, 2025 and 2024, respectively. The Company’s subsidiaries operating in Hong Kong are subject
to the Hong Kong Profits Tax at the two-tiered profits tax rates from 8.25% to 16.5% on the estimated assessable profits derived during
the current period, after deducting a tax concession for the tax year.

Liquidity and Capital Resources

The following summarizes the key component of
our cash flows for the three months ended March 31, 2025 and 2024.

|                                           |     | Three months ended 
 March 31           
 2025               |          |   |     | 2024 |         |   |
|:------------------------------------------|:----|:-------------------|---------:|:--|:----|:-----|:--------|