Company: IDVV
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001683168-25-008369
Chunk: 30

Company: ModuLink Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part II, Item 8
Chunk 30
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, net cash used in operating activities was $205,536, primarily driven by an increase in accounts receivable
of $386,038, decrease in amount due to related companies of $256,660, an increase in contract assets including retainage of $23,320, partially
offset by an increase in accounts payable of $192,444 and decrease in prepaid expenses and other current assets of $194,951.

 12 

Net Cash Used In Investing Activities

For the nine months ended
September 30, 2025, net cash used in investing activities amounted to $55,072, primarily reflecting the purchase of equipment.

For the nine months ended
September 30, 2024, net cash used in investing activities amounted to $3, representing the investment cost in the associate.

Net Cash Provided by / (Used in) Financing
Activities

For the nine months ended
September 30, 2025, net cash provided by financing activities totaled $1,061,845, mainly due to proceeds from share issuance of $1,069,230.

In comparison, for the nine
months ended September 30, 2024, net cash used in financing activities was $90,725, primarily due to the increase in loan receivable.

Working Capital

As of September 30, 2025,
our cash and cash equivalents amounted to $7,702, and our working capital was $382,670. As of December 31, 2024, we have cash and cash
equivalents of $382,127 and working capital of $126,004. The increase in working capital was primarily attributable to the proceeds from
share issuance, which totaled $1,069,230 during the nine months ended September 30, 2025.

Looking forward, we anticipate
a significant increase in operating expenses as we execute our expansion strategy across multiple geographical markets. In particular,
we expect higher business development, sales, and marketing expenditures as we focus on strengthening our customer base, pursuing new
project opportunities, and broadening our sales network to enhance market penetration. In addition, we foresee increased professional
and consultancy fees to support technical, legal, and strategic initiatives, alongside higher administrative costs arising from ongoing
corporate restructuring efforts and the associated regulatory compliance and filing requirements. These planned investments are intended
to position the Company for sustained revenue growth, although they may place increased demands on our working capital in the near term.

Going Concern

Our continuation as a going
concern is dependent upon