Company: IDVV
Filing Date: 2025-08-12
Form Type: 10-12G/A
Source: 0001683168-25-005941
Chunk: 173

Company: ModuLink Inc.
Filing Date: 2025-08-12
Form: 10-12G/A
Chunk 173
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 from, or corroborated by, observable market data.

Level 3 - Level 3 applies to assets or
liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value
of the assets or liabilities.

The carrying value of the Company’s financial
instruments, which consist of cash, prepaid expenses and other current assets, accounts payable, accrued expenses and other payables approximates
fair value due to the short-term maturities.

(Q) Recent Accounting Pronouncements

In March 2022, the Financial Accounting Standards
Board (“FASB”) issued ASU No 2022-02, “Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings
and Vintage Disclosures” (“ASU 2022-02”). ASU 2022-02 eliminates the accounting guidance for troubled debt restructurings
by creditors while enhancing disclosure requirements for certain loan refinancing and restructurings by creditors made to borrowers experiencing
financial difficulty. In addition, the amendments require disclosure of current period gross write-offs for financing receivables and
net investment in leases by year of origination in the vintage disclosures. ASU 2022-02 is effective for fiscal years beginning after
December 15, 2022, including interim periods within those fiscal years. Except for expanded disclosures to its vintage disclosures, ASU
2022-02 did not have a material effect on the Company’s current financial position, results of operations or financial statements.

In October 2023, the FASB issued ASU No 2023-06,
“Disclosure Agreements – Codification Amendments in Response to the SEC’s Disclosure Update and Simplification 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-