Company: IDVV
Filing Date: 2025-05-30
Form Type: 10-12G
Source: 0001683168-25-004098
Chunk: 174

Company: ModuLink Inc.
Filing Date: 2025-05-30
Form: 10-12G
Chunk 174
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      |        |   |
| Non-taxable income                                              |     |      |     (346 | ) |     |      |   (121 | ) |
| Valuation allowance on deferred tax assets                      |     |      |   66,521 |   |     |      |    247 |   |
| Others                                                          |     |      |   (1,390 | ) |     |      |   (383 | ) |
| Income tax expense                                              |     | $    |   37,681 |   |     | $    |  5,360 |   |

Under Hong Kong tax laws, deferred tax assets
are recognized for tax loss carried forward to the extent that the realization of the related tax benefit through future taxable profits
is probable. These tax losses do not expire under current Hong Kong tax legislation.

At December 31, 2024, the Company had an unused
net operating loss carryforward of approximately $404,802 for income tax purposes. This net operating loss carryforward may result in
future income tax benefits of approximately $66,793.

At December 31, 2023, the Company had an unused
net operating loss carryforward of approximately $1,643 for income tax purposes. This net operating loss carryforward may result in future
income tax benefits of approximately $272.

The realization of net operating loss carryforward
is uncertain at this time, a valuation allowance in the same amount has been established. Deferred income taxes reflect the net effects
of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used
for income tax purposes.

Significant components of the Company’s
deferred tax assets and liabilities of December 31, 2024 and 2023 are as follows:

|                           |     |   |    2024 |   |     |   | 2023 |   |
|:--------------------------|:----|:--|--------:|:--|:----|:--|-----:|:--|
| Deferred tax assets       |     | $ |  66,793 |   |     | $ |  272 |   |
| Less: valuation allowance |     |   | (66,793 | ) |     |   | (272 | ) |
| Net deferred tax assets   |     | $ |       – |   |     | $ |    – |   |

Movement of valuation allowance:

|                                   |     |   |   2024 |