Company: IDVV
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001683168-25-008369
Chunk: 29

Company: ModuLink Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part II, Item 8
Chunk 29
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ed profits tax rates from 8.25% to 16.5% on the estimated assessable
profits derived during the current period, after deducting a tax concession for the tax year.

Other expenses, net

This amount represents promissory
note interest payable to our noteholders, net of bank and loan interest income earned during the period. The increase was primarily attributable
to a higher level of outstanding promissory notes during the nine months ended September 30, 2024.

Net (loss) / profit

As a result of the above
factors, the Company incurred a net loss of $765,591 and net profit of $4,060 for the nine months ended September 30, 2025 and 2024,
respectively.

Liquidity and Capital Resources

The following summarizes the
key component of our cash flows for the nine months ended September 30, 2025 and 2024.

    Nine months ended  September 30 

    2025  
    2024 
  
    Net cash used in operating activities 
    $(1,381,198) 
    $(205,536)
  
    Net cash used in investing activities 
    $(55,072) 
    $(3)
  
    Net cash provided by / (used in) financing activities 
    $1,061,845  
    $(90,725)
  
    Net decrease in cash 
    $(374,425)  
    $(296,264)
  
    Cash and cash equivalents, beginning of period 
    $382,127  
    $360,469 
  
    Cash and cash equivalents, end of period 
    $7,702  
    $64,205 

Net Cash Used In Operating Activities

For the nine months ended
September 30, 2025, net cash used in operating activities was $1,381,198. This significant outflow was mainly attributable to a net loss
before tax of $756,769, an increase in accounts receivable of $44,872, an increase in amount due from an associate of $173,881, a decrease
in accrued expenses and other payables of $284,951, a decrease in contract liabilities of $114,005 and an increase in amount due from
related companies of $169,268. These were partially offset by an increase in accounts payable of $177,383.

In comparison, for the nine
months ended September 30, 2024