Company: IDVV
Filing Date: 2025-08-12
Form Type: 10-12G/A
Source: 0001683168-25-005941
Chunk: 85

Company: ModuLink Inc.
Filing Date: 2025-08-12
Form: 10-12G/A
Chunk 85
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908 for the year ended December 31, 2023. These expenses
primarily consisted of advertising and marketing costs, business development and consultancy fees, personnel-related expenses, and other
costs associated with the Company’s day-to-day operations and corporate administration. The significant increase in general and
administrative expenses in 2024 was largely driven by the Group’s strategic initiatives undertaken during the year, including the
expansion of business operations into overseas markets beyond Hong Kong, beginning in August 2024. This expansion formed part of a broader
restructuring plan aimed at diversifying the Group’s service offerings and geographic footprint. As a result, higher expenditures
were incurred to support business development and the establishment of operational infrastructure in new jurisdictions.

Income Tax Expense

We incurred income tax expense
of $37,681 and $5,360 during the years ended December 31, 2024 and 2023, respectively. Income is subject to taxation in various countries
in which the Company and its subsidiaries operate or are incorporated. The income tax expense incurred in 2024 and 2023 was Hong Kong
profits tax in which the subsidiaries are subject to a 16.5% income tax rate on its taxable income generated from operations in Hong Kong.

| 43 |

Liquidity and Capital Resources

The following summarizes the key component of
our cash flows for the years ended December 31, 2024 and 2023.

|                                                       |     | Years ended December 31, |     2024 |   |     |   |    2023 |
|:------------------------------------------------------|:----|:-------------------------|---------:|:--|:----|:--|--------:|
| Net cash (used in) / provided by operating activities |     | $                        | (345,193 | ) |     | $ | 252,075 |
| Net cash used in investing activities                 |     | $                        |  (25,658 | ) |     | $ |       – |
| Net cash provided by financing activities             |     | $                        |  392,509 |   |     | $ |       – |

Net Cash (Used In) / provided by Operating Activities

For the year ended December
31, 2024, net cash used in operating activities was $345,193, primarily consisting of a net loss of $245,697, increase in prepaid expenses
and other current assets of $97,021, decrease in amount due to related companies of $