Company: IDVV
Filing Date: 2025-05-30
Form Type: 10-12G
Source: 0001683168-25-004098
Chunk: 164

Company: ModuLink Inc.
Filing Date: 2025-05-30
Form: 10-12G
Chunk 164
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 and it did not have a significant impact on its consolidated financial statements and related disclosures.

In August 2020, the FASB issued ASU No. 2020-06,
Debt—Debt with Conversion and Other Options (Subtopic 4 70- 20) and Derivatives and Hedging—Contracts in Entity’s Own
Equity (Subtopic 815-40). Accounting for Convertible Instruments and Contracts in an Entity ’s Owner Equity (ASU 2020-06). ASU 2020-06
simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments
and contracts in an entity’s own equity. Those instruments that do not have a separately recognized embedded conversion feature
will no longer recognize a debt issuance discount related to such a conversion feature and would recognize less interest expense on a
periodic basis. It also removes from ASC 815-40-25-10 certain conditions for equity classification and amends certain guidance in ASC
Topic 260 on the computation of EPS for convertible

instruments and contracts in an entity’s
own equity. An entity can use either a full or modified retrospective approach to adopt the ASU’s guidance. As a smaller reporting
Company, the Company is required to adopt this ASU for the fiscal year beginning January 1, 2024, with early adoption permitted for fiscal
years beginning after December 15, 2020, and interim periods within those fiscal years. The Company adopted this ASU January 1, 2022 and
it did not have a significant impact on its consolidated financial statements and related disclosures.

In May 2021, the FASB issued ASU No. 2021-04,
Earnings Per Share (Topic 260), Debt— Modifications and Extinguishments (Subtopic 4 70-50), Compensation—Stock Compensation
(Topic 718), and Derivatives and Hedging— Contracts in Entity’s’ Owen Equity (Subtopic 815-40) (ASU 2022-04). ASU 2022-04
updates current accounting guidance for modifications or exchanges of freestanding equity-classified written call options that remain
equity-classified after modification or exchange as an exchange of the original instrument for a new instrument. The ASU specifies that
the effects of modifications or exchanges of freestanding equity-classified written call options that remain equity after modification
or exchange should be recognized depending on the