Company: LDDD
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-042963
Chunk: 10

Company: Longduoduo Co Ltd
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 10
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 Technology has controlled 51% of Tianju since inception.

The transactions summarized above are treated
in the Company’s financial statements as a corporate restructuring (reorganization) of entities under common control, as each of
the eleven entities have at all times been under the control of Mr. Zhang Liang. Therefore, in accordance with ASC 805-50-45-5, the current
capital structure has been retroactively presented in prior periods as if such structure existed at that time, and the entities under
common control are presented on a combined basis for all periods. Since all of the subsidiaries were under common control for all periods
presented, the results of these subsidiaries are included in the Company’s financial statements for all periods presented. 

F-5

LONGDUODUO COMPANY LIMITED AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE NINE MONTHS ENDED MARCH 31, 2025 AND
MARCH 31, 2024

(UNAUDITED)

NOTE 2. SUMMARY OF SIGNIFICANT
ACCOUNTING POLICIES

A. Going concern

The accompanying consolidated financial statements
have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and liquidation
of liabilities in the normal course of business. At June 30, 2023, the Company had cash of $1,136,562, negative working capital of $733,781,
and a stockholders’ deficit of $570,655. For the year ended June 30, 2023, the Company had net income of $21,085. The Company’s
independent auditor included a going concern emphasis paragraph in its audit report for the years ended June 30, 2023 and June 30, 2022.

Commencing in the last quarter of the fiscal year
ended June 30, 2023, the Company changed its business plan to focus on resale of health care services offered by its contractor. The benefits
of the change were promptly realized. At June 30, 2024, the Company had cash of $1,404,042, working capital of $395,609, and stockholders’
equity of $780,851. For the year ended June 30, 2024, the Company had net income of $1,363,278. As a result of the improved results, the
Company’s independent auditor did not include a going concern