Company: IDVV
Filing Date: 2025-09-18
Form Type: 10-12G/A
Source: 0001683168-25-007099
Chunk: 161

Company: ModuLink Inc.
Filing Date: 2025-09-18
Form: 10-12G/A
Chunk 161
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 ACTIVITIES (CONTINUED)     |

Accordingly, the transaction is accounted for
as a reverse recapitalization of the Company, with MIL deemed the accounting acquirer and the Company treated as the accounting acquiree
for financial reporting purposes. Under the guidance in Accounting Standard Codification (ASC) Topic 805, for transactions between entities
under common control, the assets, liabilities and results of operations, are recognized at their carrying amounts as of the consummation
date of the Share Exchange. This accounting treatment requires a retrospective presentation and combination of the consolidated financial
statements as if the share exchange and disposal of original business had occurred and the current group structure had existed at the
beginning of the earliest reporting period presented. Accordingly, the historical financial statements of the Company reflect those of
the accounting acquirer, i.e. the ModuLink Group, prior to the transaction, accompanied by a recapitalization of the Company’s equity
structure.

During the years ended December 31, 2024 and 2023,
the Company and ModuLink Group (collectively referred to the “Group”) generated revenues exclusively from modular building
construction and design services business.

Going Concern

The Company's consolidated financial statements
are prepared using accounting principles generally accepted in the United States of America, or U.S. GAAP, applicable to a going concern
which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has incurred
losses of $283,378 and has net cash used in operating activities of $345,193 for the year ended December 31, 2024. In addition, as at
the reporting date, the Company has accumulated deficit of $2,849,731. These factors raise substantial doubt about the Company’s
ability to continue as a going concern. The Company’s plans regarding those concerns are addressed in the following paragraph.
The accompany consolidated financial statements do not reflect any adjustments that might result from the outcome of these uncertainties.

The Company plans to secure additional funding
to support its current operations, expected future growth and strategic objectives. Management is actively pursuing financing opportunities
through debt and equity transactions, as well as exploring new development projects and accelerating the commercialization of its products.
If successfully executed, these initiatives are expected to generate positive operating cash flows and improve the Company’s financial
position.

Based on management’s best estimates, the
Company believes it has sufficient financial resources to meet its obligations for at least the next twelve months.

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