Company: IDVV
Filing Date: 2025-07-03
Form Type: 10-12G/A
Source: 0001683168-25-004925
Chunk: 176

Company: ModuLink Inc.
Filing Date: 2025-07-03
Form: 10-12G/A
Chunk 176
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 44,625 |     | December 31, 2023 |  64,373 |
|:---------------------------------------|:----|:-----------------|--------:|:----|:-----------------|:-------------|:----|:-----------------------------|--------:|:----|:------------------|--------:|
| Zenith (Hong Kong) Engineering Limited |     |                  |  65,000 |     |                  | Nov 17, 2019 |     |                              |  77,499 |     |                   |  90,322 |
|                                        |     | $                | 140,000 |     |                  |              |     | $                            | 122,124 |     | $                 | 154,695 |

On January 22, 2025, Raymond Valdez, the former
sole executive officer and director entered into the Stock Purchase Agreement, pursuant to which Mr. Valdez agreed to sell to ModuLink
Inc., a British Virgin Islands corporation, and Zenith (Hong Kong) Engineering Limited, a Hong Kong corporation (“Zenith (HK)”),
200,000 shares of Preferred A shares, representing all of the issued and outstanding shares of Preferred A, and the transfer of certain
promissory notes of the Company held by third parties.

As part of the Sale, two convertible
promissory notes of the Company in the principal amounts of $65,000 and $75,000, respectively were transferred to Zenith (HK) on
January 30, 2025. The notes were originally convertible into shares of the Company’s common stock in accordance with the terms
set forth therein. On February 28, 2025, Zenith (HK) waived all rights to convert the outstanding principal amount and any accrued
but unpaid interest under the two convertible promissory notes into equity securities of the Company. These notes are interest
bearing at a rate of 8% per annum. Thus, notes payable classified as financial liabilities and recognized at amortized cost.

| NOTE 15 | COMMITMENTS AND CONTINGENCIES |

Contingencies

The Company accounts for loss contingencies in
accordance with ASC Topic 450 and other related guidelines.

At the end of the reporting period, there were
contingent liabilities of maximum USD 1.91 million (2023: USD 1.91 million) in respect of the subsidiary providing a corporate guarantee
to a bank for securing the general banking facilities granted to both the