Company: IDVV
Filing Date: 2025-08-12
Form Type: 10-12G/A
Source: 0001683168-25-005941
Chunk: 170

Company: ModuLink Inc.
Filing Date: 2025-08-12
Form: 10-12G/A
Chunk 170
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 estimates made with respect to uncompleted projects are subject to change as each project progresses and
better estimates of contract costs become available. All contract costs are recorded as incurred, and revisions to estimated total costs
are reflected as soon as the obligation to perform is determined. Provisions are recognized for the full amount of estimated losses on
uncompleted contracts whenever evidence indicates that the estimated total cost of a contract exceeds its estimated total revenue, regardless
of the stage of completion. When the Company incurs additional costs related to work performed by subcontractors, the Company may be able
to utilize contractual provisions to back charge the subcontractors for those costs.

Revenue in excess of billings on the contracts
is recorded as costs and estimated earnings in excess of billings. Billings in excess of revenues recognized on the contracts are recorded
as deferred revenue until the above revenue recognition criteria are met. Recognition of accounts receivable and costs and estimated earnings
in excess of billings are stated set out in Note 2(I).

If at any time the costs to complete the contract
are estimated to exceed the remaining amount of the consideration under the contract, then a provision is recognized.

Revenues derived from design and management services
are recognized over time by using percentage of completion certified by engineer to measure the progress towards the completion of the
performance obligation as the customer simultaneously receives and consumes the benefits from the services rendered by the Company. The
contracts for design and building services are legally enforceable and binding agreements between the Company and customers.

(L) Income Taxes

The Company recognizes deferred tax liabilities
and assets for the expected future tax consequences of events that have been included in the consolidated financial statements or tax
returns. Deferred tax liabilities and assets are determined based on the difference between the financial statement basis and tax basis
of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The Company
estimates the degree to which tax assets and credit carryforwards will result in a benefit based on expected profitability by tax jurisdiction.
A valuation allowance for such tax assets and loss carryforwards is provided when it is determined to be more likely than not that the
benefit of such deferred tax asset will not be realized in future periods. Tax benefits of operating loss carryforwards are evaluated
on an ongoing basis, including a review of historical and projected future operating results, the eligible carryforward period, and other
circumstances. If it becomes more likely than not that a tax asset will be used, the related valuation