Company: IDVV
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001683168-25-008369
Chunk: 40

Company: ModuLink Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part II, Item 8
Chunk 40
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ification Initiative”
(“ASU 2023-06”). ASU 2023-06 will align the disclosure and presentation requirements in the FASB Accounting Standards Codification
with the SEC’s regulations. The amendments in ASU 2023-06 will be applied prospectively and are effective when the SEC removes the
related requirements from Regulations S-X or S-K. Any amendments the SEC does not remove by June 30, 2027 will not be effective. As the
Company is currently subject to these SEC requirements, ASU 2023-06 is not expected to have a material effect on the Company’s current
financial position, results of operations or financial statement disclosures.

In November 2023, the FASB issued ASU No 2023-07,
“Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” (“ASU 2023-07”). ASU 2023-07 expands
disclosures about a public entity’s reportable segments and requires more enhanced information about a reportable segment’s
expenses, interim segment profit or loss, and how a public entity’s chief operating decision maker uses reported segment profit
or loss information in assessing segment performance and allocating resources. ASU 2023-07 is effective for fiscal years beginning after
December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted. ASU 2023-07 should be applied retrospectively
to all prior periods presented in the financial statements. The Company does not expect ASU 2023-07 to have a material effect on the Company’s
current financial position, results of operations or financial statement disclosures.

In December 2023, the FASB issued ASU No 2023-09,
“Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (“ASU 2023-09”). ASU 2023-09 expands disclosures
in the rate reconciliation and requires disclosure of income taxes paid by jurisdiction. ASU 2023-09 is effective for fiscal years beginning
after December 15, 2024. Early adoption is permitted. ASU 2023-09 should be applied prospectively; however, retrospective application
is permitted. The Company does not expect ASU 2023-09 to have a material effect on the Company’s current financial position, results
of operations or financial statement disclosures.

 19 

In June 2016, the Financial Accounting Standards