Company: IDVV
Filing Date: 2025-05-30
Form Type: 10-12G
Source: 0001683168-25-004098
Chunk: 98

Company: ModuLink Inc.
Filing Date: 2025-05-30
Form: 10-12G
Chunk 98
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2023, FASB issued ASU 2023- 09, Income
Taxes (Topic 740). Improvements to Income Tax Disclosures (ASU 2023-09). The ASU focuses on income tax disclosures around effective tax
rates and cash income taxes paid. ASU 2023-09 requires public business entities to disclose, on an annual basis, a rate reconciliation
presented in both dollars and percentages. The guidance requires the rate reconciliation to include specific categories and provides further
guidance on disaggregation of those categories based on a quantitative threshold equal to 5% or more of the amount determined by multiplying
pretax income (loss) from continuing operations by the applicable statutory rate. For entities reconciling to the US statutory rate of
21%, this would generally require disclosing any reconciling items that impact the rate by 1.05% or more. ASU 2023-09 is effective for
public business entities for annual periods beginning after Dec. 15, 2024 (generally, calendar year 2025) and effective for all other
business entities one year later. Entities should adopt this guidance on a prospective basis, though retrospective application is permitted.
The adoption of ASU 2023-09 is expected to have a financial statement disclosure impact only and is not expected to have a material impact
on the Company’s consolidated financial statements.

Other pronouncements issued by the FASB or other
authoritative accounting standards groups with future effective dates are either not applicable or are not expected to be significant
to the Company’s financial position, results of operations or cash flows.

| 50 |

Results of Operations for the Three Months Ended March 31, 2025 and 2024

Comparison of the three months ended March 31, 2025 and 2024

The following table sets forth certain operational
data for the periods indicated:

| Revenues:                              |     | Three Months Ended March 31, 
 2025                         |          |   |     | 2024 |          |    |
|:---------------------------------------|:----|:-----------------------------|---------:|:--|:----|:-----|---------:|:---|
| Design and build services              |     | $                            |  300,019 |   |     | $    |  114,487 |    |
| Project design and management services |     |                              |  129,077 |   |     |      |        – |