Company: IDVV
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001683168-25-006029
Chunk: 22

Company: ModuLink Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 22
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    2025  
    2024  
    2024 

    Design and build services 
    $250,015  
    $550,034  
    $–  
    $114,487 
  
    Project design and management services 
    $88,872  
    $217,949  
    $–  
    $– 
  
    Total 
    $338,887  
    $767,983  
    $–  
    $114,487 

    NOTE 20
    INCOME TAXES

The Company was incorporated in the State of Nevada,
which currently does not impose a state corporate income tax. The Company is, however, subject to the federal corporate income tax rate
of 21%.

The subsidiary incorporated in the British Virgin
Islands is not subject to income tax under the relevant regulations. Under the current Hong Kong Inland Revenue Ordinance, the Company’s
subsidiaries operating in Hong Kong are subject to the Hong Kong Profits Tax at the two-tiered profits tax rates from 8.25% to 16.5% on
the estimated assessable profits derived during the current period, after deducting a tax concession for the tax year.

Income is subject to taxation in various countries
in which the Company and its subsidiaries operate or are incorporated. 

    NOTE 21
    SUBSEQUENT EVENTS

The Company has evaluated all transactions and
events after the balance sheet date and has determined that no additional disclosures are required.

 F-15 

Item 2. Management’s Discussion and Analysis
of Financial Condition and Results of Operations.

The following discussion
and analysis of our Company’s financial condition and results of operations should be read in conjunction with our unaudited condensed
consolidated financial statements and the related notes included elsewhere in the report. This discussion contains forward-looking statements
that involve risks and uncertainties. Actual results and the timing of selected events could differ materially from those anticipated
in these forward-looking statements as a result of various factors. See “Cautionary Note Concerning Forward-Looking Statements”
on page ix.

Unless otherwise noted, all
currency figures quoted as “U.S. dollars”, “dollars” or “$” refer to the legal currency of the United
States. Throughout this report, assets and liabilities of the Company’s subsidiaries are translated into U.S. dollars using the
exchange rate on the balance sheet date. Revenue and expenses are translated at average