Company: LDDD
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-108744
Chunk: 194

Company: Longduoduo Co Ltd
Filing Date: 2025-11-12
Form: 10-Q
Item: Part II, Item 8
Chunk 194
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. Accordingly, management provided a 100% valuation allowance of approximately $279,922 and $259,555 against the
deferred tax assets related to the Company’s United States operations as of September 30,
2025 and June 30, 2025, respectively, because the deferred tax benefits of the net operating loss carry forwards in the United States
are not likely to be utilized. The US valuation allowance has increased by approximately $20,367 and $23,052 for the three months
ended September 30, 2025, and 2024, respectively.

F-13

LONGDUODUO COMPANY LIMITED AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2025
AND 2024

(UNAUDITED)

The Company
is subject to examination by the Internal Revenue Service (IRS) in the United States as well as by the taxing authorities in China, where
the Company has significant business operations. The table below presents the earliest tax year that remains subject to examination
by major jurisdiction. 

      Earliest tax year that
remains subject to examination  U.S. Federal   June 30, 2021  China   June 30, 2020 

NOTE
7. LEASES

On April 1 of 2024, Tianju leased office space
(approximately 595 square meters) under an operating lease agreement with Han Ruijun. Under the terms of the agreement, Tianju
is committed to make lease payments of approximately $19,000 (RMB137,000) annually for the period between April 1, 2024 and March
31, 2027.

On August 14, 2024, Qingguo leased office space
(approximately 482 square meters) under an operating lease agreement with Inner Mongolia Chuangfuhui Enterprise Management Co.,
Ltd. Under the terms of the agreement, Qingguo was committed to make lease payments of approximately $30,700 (RMB 220,000) for
the period between September 10, 2024 and September 10, 2025. On September 19, 2025, Qingguo with Chen Mingyue signed a non-cancellable
operating agreement to lease this office space. Under terms of the lease agreement, from September 10, 2025