Company: IDVV
Filing Date: 2025-07-03
Form Type: 10-12G/A
Source: 0001683168-25-004925
Chunk: 84

Company: ModuLink Inc.
Filing Date: 2025-07-03
Form: 10-12G/A
Chunk 84
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 years ended December 31, 2024 and 2023, respectively. The increase in gross profit is attributable to the addition of project
design and management services income in 2024.

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

General and administrative
expenses of $298,675 and $10,908 for the years ended December 31, 2024 and 2023, respectively. These expenses primarily include
advertising and marketing expenses, business development and consultancy fees, personnel related expenses, as well as costs incurred
in connection with general operations of the Company. The significant increase in general and administrative expenses was primarily due
to the Group’s strategic initiatives, including the diversification of our business operations into overseas markets beyond Hong
Kong starting from August 2024, as part of a broader restructuring of the Group.

Income Tax Expense

We incurred income tax expense of $37,681 and
$5,360 during the years ended December 31, 2024 and 2023, respectively. Income is subject to taxation in various countries in which the
Company and its subsidiaries operate or are incorporated. The income tax expense incurred in 2024 and 2023 was Hong Kong profits tax in
which the subsidiaries are subject to a 16.5% income tax rate on its taxable income generated from operations in Hong Kong.

Liquidity and Capital Resources

The following summarizes the key component of
our cash flows for the years ended December 31, 2024 and 2023.

|                                                       |     | Years ended December 31, |     2024 |   |     |   |    2023 |
|:------------------------------------------------------|:----|:-------------------------|---------:|:--|:----|:--|--------:|
| Net cash (used in) / provided by operating activities |     | $                        | (345,193 | ) |     | $ | 252,075 |
| Net cash used in investing activities                 |     | $                        |  (25,658 | ) |     | $ |       – |
| Net cash provided by financing activities             |     | $                        |  392,509 |   |     | $ |       – |

| 42 |

Net Cash (Used In) / provided by Operating Activities

For the year ended December
31, 2024, net cash used in operating activities was $345,193, primarily consisting of a net loss of $245,697, increase in prepaid expenses