Company: IDVV
Filing Date: 2025-09-18
Form Type: 10-12G/A
Source: 0001683168-25-007099
Chunk: 16

Company: ModuLink Inc.
Filing Date: 2025-09-18
Form: 10-12G/A
Chunk 16
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 aggregate of shareholding
interests through ModuLink Inc. and personally, control approximately 67.93% of the voting power of our common stock, as calculated on
a fully diluted basis.

We are indebted to Zenith
(Hong Kong) Engineering Limited (“Zenith (HK)”), a customer that accounted for approximately 72% of our revenues for the
year ended December 31, 2024, in the approximate amount of $124,549 as of March 31, 2025. Pursuant to the Stock Purchase Agreement dated
January 22, 2025, the two convertible promissory notes were purchased and assigned to Zenith (HK) on January 30, 2025. On February 28,
2025, Zenith (HK) waived all rights to convert the outstanding principal amount and any accrued but unpaid interest under the two convertible
promissory notes into equity securities of the Company. We owe approximately $124,549 pursuant to such notes. Both notes have already
become due and payable. However, Zenith (HK) has indicated a willingness to work with the Company regarding repayment of such loans.
We do not expect to generate sufficient cash flow to repay these notes within the next twenty-four months. There is no assurance that
we can generate sufficient cash flow to repay these notes after such twenty-four-month period, if ever. If we are required to repay these
notes prior to achieving profitability, our ability to implement our business plan or to expand our business may be significantly delayed.

Our sources of capital in
the past have included the sale of equity securities, which include common stock sold in private transactions to our executive officers
or existing shareholders, and short-term and long-term debts. We expect to finance future acquisitions through a combination of the foregoing.
While we believe that existing shareholders and our officers and directors will continue to provide additional cash to make acquisitions
and to meet our obligations as they become due or that we will obtain external financing, there can be no assurance that we will be able
to raise such additional capital resources on satisfactory terms. Currently, we rely on funding provided by our officers and directors
to support our ongoing operating activities. In light of this support, along with the continued forbearance of Zenith (HK) as previously
discussed, we believe our existing cash position and other sources of liquidity are sufficient to fund our operations for at least the
next 12 months. To implement our business plan, we estimate that we will require approximately