Company: IDVV
Filing Date: 2025-07-03
Form Type: 10-12G/A
Source: 0001683168-25-004925
Chunk: 161

Company: ModuLink Inc.
Filing Date: 2025-07-03
Form: 10-12G/A
Chunk 161
---

for observable price changes in orderly transactions in the investees’ securities that are identical or similar to the Company’s
investments in the investee. The unrealized gains and losses and the adjustments related to the observable price changes are recognized
in net income (loss).

Impairments of Investments

The Company regularly reviews its investments
for impairment, including when the carrying value of an investment exceeds its market value. If the Company determines that an investment
has sustained an other-than-temporary decline in its value, the investment is written down to its fair value by a charge to earnings.
Factors that are considered by the Company in determining whether an other-than-temporary decline in value has occurred include (i) the
market value of the security in relation to its cost basis, (ii) the financial condition of the investee, and (iii) the Company’s
intent and ability to retain the investment for a sufficient period of time to allow for recovery in the market value of the investment.

For investments accounted for using the equity
method of accounting or equity investments without a readily determinable fair value, the Company evaluates information available (e.g.,
budgets, business plans, financial statements, etc.) in addition to quoted market prices, if any, in determining whether an other-than
temporary decline in value exists. Factor’s indicative of an other-than-temporary decline include recurring operating losses, credit
defaults and subsequent rounds of financing at an amount below the cost basis of the Company’s investment.

(K) Revenue Recognition

The Company derives a significant portion of revenues
from contracts with its customers during the years ended December 31, 2024 and 2023, predominantly by performing design and building services
and project design and management services for both public and private projects, with an emphasis on commercial and residential developments.

In accordance with ASC 606, Revenue From Contracts
with Customers, an entity recognizes revenue when its customer obtains control of promised goods or services, in an amount that reflects
the consideration the entity expects to receive in exchange for those goods or services. To determine revenue recognition for arrangements
that are within the scope of the standard, the entity performs the following five steps: (i) identify the contract(s) with a customer;
(ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price
to the performance obligations in the contract; and (v) recognize revenue when (or as) the entity satisfies a performance obligation.
The standard requires disclosure of the nature