Company: IDVV
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001683168-25-006029
Chunk: 47

Company: ModuLink Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 47
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    Pricing inputs that are generally observable inputs and not corroborated by market data. 

Financial assets are considered Level 3 when their
fair values are determined using pricing models, discounted cash flow methodologies or similar techniques and at least one significant
model assumption or input is unobservable. 

The fair value hierarchy gives the highest priority
to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. If
the inputs used to measure the financial assets and liabilities fall within more than one level described above, the categorization is
based on the lowest level input that is significant to the fair value measurement of the instrument. 

The carrying amounts of the Company’s financial
assets and liabilities, such as cash and cash equivalents, prepaid expense and other current assets, accrued liabilities and other payables,
accrued consulting service fee, amounts due to related parties and income tax payable approximate their fair values because of the short
maturity of these instruments.

    ·
    Recent accounting pronouncements

In March 2022, the Financial Accounting Standards
Board (“FASB”) issued ASU No 2022-02, “Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings
and Vintage Disclosures” (“ASU 2022-02”). ASU 2022-02 eliminates the accounting guidance for troubled debt restructurings
by creditors while enhancing disclosure requirements for certain loan refinancing and restructurings by creditors made to borrowers experiencing
financial difficulty. In addition, the amendments require disclosure of current period gross write-offs for financing receivables and
net investment in leases by year of origination in the vintage disclosures. ASU 2022-02 is effective for fiscal years beginning after
December 15, 2022, including interim periods within those fiscal years. Except for expanded disclosures to its vintage disclosures, ASU
2022-02 did not have a material effect on the Company’s current financial position, results of operations or financial statements.

In October 2023, the FASB issued ASU No 2023-06,
“Disclosure Agreements – Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative”
(“ASU 2023-06”). ASU 2023-06 will align the disclosure and presentation requirements in the FASB Accounting Standards Codification
with the SEC’s regulations. The amendments in ASU