Company: LDDD
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-108744
Chunk: 186

Company: Longduoduo Co Ltd
Filing Date: 2025-11-12
Form: 10-Q
Item: Part II, Item 8
Chunk 186
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and cash equivalents

Cash consists
of cash on hand and bank deposits, which are unrestricted as to withdrawal and use. All highly liquid investments with original stated
maturity of three months or less are classified as cash and cash equivalents. Cash equivalents approximate or equal fair value due to
their short-term nature. The Company’s cash and cash equivalents consist of cash on hand and cash in bank as of September 30, 2025
and June 30, 2025.

G. Property and equipment

Property and equipment are stated at cost. Expenditures
for maintenance and repairs are charged to operations when incurred, while additions and betterments are capitalized. Depreciation is
recorded on a straight-line basis over the useful lives of the assets. When assets are retired or disposed, the asset’s original
cost and related accumulated depreciation are eliminated from those accounts and any gain or loss is reflected in income.

The Company capitalizes certain costs associated
with the acquisition of software. Once the software is ready for its intended use, these costs are amortized on a straight-line basis
over the software’s expected useful life.

The estimated useful lives for property and equipment
categories are as follows:

    Office equipment and furniture 
     3 years 
  
    Leasehold Improvements 
     1-5 years 

H. Intangible Assets

Intangible assets consist of software. Intangible
assets are initially recognized at their respective acquisition costs. All of the Company’s intangible assets have been determined
to have finite useful lives and are, therefore, amortized using the straight-line method over their estimated useful lives:

  Software   3 years  

I. Fair value measurements

The Company applies the provisions of the Financial
Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Section 820, Fair Value
Measurements (“ASC 820”), for fair value measurements of financial assets and financial liabilities and for fair
value measurements of nonfinancial items that are recognized or disclosed at fair value in the financial statements. ASC 820 also establishes
a framework for measuring fair value and expands disclosures about fair value measurements.

Fair value is defined as the price that would
be received when selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement
date. In determining the fair value for the assets and liabilities required or permitted to be recorded, the Company considers the principal
or most advantageous market in which it would transact, and it