Company: IDVV
Filing Date: 2025-08-12
Form Type: 10-12G/A
Source: 0001683168-25-005941
Chunk: 167

Company: ModuLink Inc.
Filing Date: 2025-08-12
Form: 10-12G/A
Chunk 167
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 that a
significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty is resolved. The Company did not
recognize any material amounts associated with claims and unapproved change orders during the periods presented.

The contract liability, “Billings in excess
of costs and estimated earnings on uncompleted contracts,” represents the Company’s obligation to transfer goods or services
to a customer for which the Company has been paid by the customer or for which the Company has billed the customer under the terms of
the contract. Revenue for future services reflected in this account are recognized, and the liability is reduced, as the Company subsequently
satisfies the performance obligation under the contract.

Costs and estimated earnings in excess of billings
on uncompleted contracts and billings in excess of costs and estimated earnings on uncompleted contracts are typically resolved within
one year and are not considered significant financing components.

(J) Equity Method Investments

The Company uses the equity method of accounting
for investments in companies in which it has a minority equity interest and the ability to exert significant influence over operating
decisions of the companies. Significant influence is generally presumed to exist when the Company owns between 20% and 50% of the voting
interests in the investee, holds substantial management rights or holds an interest of less than 20% in an investee that is a limited
liability partnership or limited liability corporation that is treated as a flow- through entity.

Under the equity method of accounting, the Company’s
share of the investee’s earnings (losses) are included in the “equity interests income (loss)” line item in the consolidated
statement of operations. The Company recorded its share of the income or loss generated by these entities for the years ended December
31, 2024 and 2023.

| F-27 |

<div align='center'>INTERNATIONAL ENDEAVORS CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023</div>

| NOTE 2 | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) |

(J) Equity Method Investments (Continued)

Dividends and other distributions from equity
method investees are recorded as a reduction of the Company’s investment. Distributions received up to the Company’s interest
in the investee’s retained earnings are considered returns on investments and are classified within cash flows from operating activities
in the consolidated statement of cash flows.