Company: IDVV
Filing Date: 2025-08-12
Form Type: 10-12G/A
Source: 0001683168-25-005941
Chunk: 90

Company: ModuLink Inc.
Filing Date: 2025-08-12
Form: 10-12G/A
Chunk 90
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 operations could be materially impacted. Significant
estimates in the period include the revenue recognition, allowance for Expected Credit Losses and deferred tax valuation allowance.

| · | Basis of consolidation |

The consolidated financial statements include
the financial statements of International Endeavors Corporation, ModuLink Investment Limited and its subsidiaries and associated
company for which it is the primary beneficiary. Upon making this determination, the Company is deemed to be the primary beneficiary
of these entities, which are then required to be consolidated for financial reporting purpose. All significant intercompany transactions
and balances have been eliminated upon consolidation.

Transactions involving entities under common control
are accounted for using the merger accounting. The consolidated financial statements of the combining entities are presented as if the
reorganization occurred at the beginning of the earliest reporting period presented. No gain or loss is recognized in the consolidated
financial statements as a result of the reorganization. The historical financial information of all entities under common control is combined
retroactively for all periods presented. The financial statements reflect consistent accounting policies and principles across all entities.

| · | Cash and cash equivalents |

Cash and cash equivalents are carried at cost
and represent cash on hand, demand deposits placed with banks or other financial institutions and all highly liquid investments with an
original maturity of three months or less as of the purchase date of such investments.

| 46 |

| · | Impairment of long-lived assets |

In accordance with the provisions of ASC Topic
360, “Impairment or Disposal of Long-Lived Assets”, all long-lived assets such as plant and equipment and intangible
assets held and used by the Company are reviewed for impairment whenever events or changes in circumstances indicate that the carrying
amount of an asset may not be recoverable. Recoverability of assets to be held and used is evaluated by a comparison of the carrying amount
of an asset to its estimated future undiscounted cash flows expected to be generated by the asset. If such assets are considered to be
impaired, the impairment to be recognized is measured by the amount by which the carrying amounts of the assets exceed the fair value
of the assets. There has been no impairment charge for the years presented.

| · | Revenue recognition |

The Company derives a significant portion of revenues from contracts with its customers during the years ended December 31, 2024 and 2023, predominantly by performing design and building services and project design and management services for both public and private projects, with an emphasis on commercial and residential developments.

In accordance with ASC 606,