Company: IDVV
Filing Date: 2025-08-12
Form Type: 10-12G/A
Source: 0001683168-25-005941
Chunk: 98

Company: ModuLink Inc.
Filing Date: 2025-08-12
Form: 10-12G/A
Chunk 98
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). Effective Dates, which defers the effective date
of Topic 326. As a smaller reporting Company, Topic 326 will now be effective for the Company beginning January I, 2023. The Company adopted
this ASU January I, 2023 and it did not have a significant impact on its consolidated financial statements and related disclosures.

In August 2020, the FASB issued ASU No. 2020-06,
Debt—Debt with Conversion and Other Options (Subtopic 4 70- 20) and Derivatives and Hedging—Contracts in Entity’s Own
Equity (Subtopic 815-40). Accounting for Convertible Instruments and Contracts in an Entity ’s Owner Equity (ASU 2020-06). ASU 2020-06
simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments
and contracts in an entity’s own equity. Those instruments that do not have a separately recognized embedded conversion feature
will no longer recognize a debt issuance discount related to such a conversion feature and would recognize less interest expense on a
periodic basis. It also removes from ASC 815-40-25-10 certain conditions for equity classification and amends certain guidance in ASC
Topic 260 on the computation of EPS for convertible instruments and contracts in an entity’s own equity. An entity can use either
a full or modified retrospective approach to adopt the ASU’s guidance. As a smaller reporting Company, the Company is required to
adopt this ASU for the fiscal year beginning January 1, 2024, with early adoption permitted for fiscal years beginning after December
15, 2020, and interim periods within those fiscal years. The Company adopted this ASU January 1, 2022 and it did not have a significant
impact on its consolidated financial statements and related disclosures.

In May 2021, the FASB issued ASU No. 2021-04,
Earnings Per Share (Topic 260), Debt— Modifications and Extinguishments (Subtopic 4 70-50), Compensation—Stock Compensation
(Topic 718), and Derivatives and Hedging— Contracts in Entity’s’ Owen Equity (Subtopic 815-40) (ASU 2022-04). ASU 2022-04
updates current accounting guidance for modifications or exchanges of freestanding equity-classified written call options that remain
equity-classified after modification