Company: LDDD
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-042963
Chunk: 22

Company: Longduoduo Co Ltd
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 22
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 Company’s
United States operations consist solely of ownership of its foreign subsidiaries, and the losses arise from administration expenses. Accordingly,
management provided a 100% valuation allowance of approximately $254,051 and $213,436 against the deferred tax assets related
to the Company’s United States operations as of March 31,
2025 and June 30, 2024, respectively, because the deferred tax benefits of the net operating loss carry forwards in the United States
are not likely to be utilized. The US valuation allowance has increased by approximately $40,616 and $38,574 for the nine months
ended March 31, 2025, and 2024, respectively.

F-13

LONGDUODUO COMPANY LIMITED AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE NINE MONTHS ENDED MARCH 31, 2025 AND
MARCH 31, 2024

(UNAUDITED)

The Company
is subject to examination by the Internal Revenue Service (IRS) in the United States as well as by the taxing authorities in China, where
the Company has significant business operations. The table below presents the earliest tax year that remains subject to examination
by major jurisdiction. 

      Earliest tax year that
remains subject to examination  U.S. Federal   June 30, 2021  China   June 30, 2020 

NOTE
7. LEASES

On November 20, 2024, Chengheng leased an office
space (approximately 611 square meters) under an operating lease agreement from Dongsheng District Baiyan Health Consultation Department.
Under the terms of the agreement, Chengheng is committed to make lease payments of approximately $16,720 (RMB120,000) for the period between
November 20, 2024 and November 20, 2025.

On March 11 of 2025, Longduoduo Health Technology
leased office space (approximately 150 square meters) under an operating lease agreement with Liu Libao. Under the terms of
the agreement, Longduoduo Health Technology is committed to make lease payments of approximately $4,160 (RMB30,000) for the period
between March 11, 2025 and March 10, 2026.

On April 1 of 2024, Tianju leased office space
(approximately