Company: LDDD
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-042963
Chunk: 24

Company: Longduoduo Co Ltd
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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ATED FINANCIAL STATEMENTS

FOR THE NINE MONTHS ENDED MARCH 31, 2025 AND
MARCH 31, 2024

(UNAUDITED)

As most of the Company’s leases do not provide
an implicit rate, the Company uses 1-5 years borrowing rate from bank of 3.95% and 4.75% based on the information available
at commencement date in determining the present value of lease payments.

Maturities of lease liabilities are as follows:

    For the years ending March 31: 

    2026 
    $18,876 
  
    2027 
     18,876 
  
    Total lease payments 
     37,752 
  
    Less: imputed interest 
     (717)
  
    Total lease liabilities 
    $37,035 

NOTE 8. CONTINGENCIES

Contingencies

Certain
conditions may exist as of the date the consolidated financial statements are issued which may result in a loss to the Company but which
will only be resolved when one or more future events occur or fail to occur. The Company’s management and legal counsel assess such
contingent liabilities, and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal
proceedings that are pending against the Company or unasserted claims that may result in such proceedings, the Company’s legal counsel
evaluates the perceived merits of any legal proceedings or unasserted claims as well as the perceived merits of the amount of relief sought
or expected to be sought.

If the assessment
of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated,
then the estimated liability would be accrued in the Company’s financial statements. If the assessment indicates that a potential
material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent
liability, together with an estimate of the range of possible loss if determinable and material would be disclosed.

Loss contingencies
considered to be remote by management are generally not disclosed unless they involve guarantees, in which case the guarantee would be
disclosed.

The Company
was not subject to any material loss contingency as of March 31, 2025 and June 30, 2024.

NOTE
9. STOCKHOLDERS’ EQUITY

On September 21, 2023, the Company filed