Company: IDVV
Filing Date: 2025-09-18
Form Type: 10-12G/A
Source: 0001683168-25-007099
Chunk: 165

Company: ModuLink Inc.
Filing Date: 2025-09-18
Form: 10-12G/A
Chunk 165
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 terms of the contract. Amounts billed to
customers are excluded from this asset and reflected on the Consolidated Balance Sheets as “Contract assets including retainage,
net.” Included in costs and estimated earnings on uncompleted contracts are amounts the Company seeks or will seek to collect from
customers or others for (i) errors, (ii) changes in contract specifications or design, (iii) contract change orders in dispute, unapproved
as to scope and price, or (iv) other customer-related causes of unanticipated additional contract costs (such as claims). Such amounts
are recorded to the extent that the amount can be reasonably estimated and recovery is probable. Claims and unapproved change orders made
by the Company may involve negotiation and, in rare cases, litigation. Unapproved change orders and claims also involve the use of estimates,
and revenues associated with unapproved change orders and claims are included in the transaction price for which it is probable that a
significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty is resolved. The Company did not
recognize any material amounts associated with claims and unapproved change orders during the periods presented.

The contract liability, “Billings in excess
of costs and estimated earnings on uncompleted contracts,” represents the Company’s obligation to transfer goods or services
to a customer for which the Company has been paid by the customer or for which the Company has billed the customer under the terms of
the contract. Revenue for future services reflected in this account are recognized, and the liability is reduced, as the Company subsequently
satisfies the performance obligation under the contract.

Costs and estimated earnings in excess of billings
on uncompleted contracts and billings in excess of costs and estimated earnings on uncompleted contracts are typically resolved within
one year and are not considered significant financing components.

(J) Equity Method Investments

The Company uses the equity method of accounting
for investments in companies in which it has a minority equity interest and the ability to exert significant influence over operating
decisions of the companies. Significant influence is generally presumed to exist when the Company owns between 20% and 50% of the voting
interests in the investee, holds substantial management rights or holds an interest of less than 20% in an investee that is a limited
liability partnership or limited liability corporation that is treated as a flow- through entity.

Under the equity method of accounting, the Company’s
share of the investee’s earnings (losses) are included in the “equity interests