Company: IDVV
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001683168-25-006029
Chunk: 98

Company: ModuLink Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part II, Item 8
Chunk 98
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of operations or financial statement disclosures. 

In June 2016, the Financial Accounting Standards
Board (“FASB”) issued ASU No. 2016-13, Financial Instruments Credit Losses (Topic 326), which requires entities to measure
all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable
and supportable forecasts. This replaces the existing incurred loss model and is applicable to the measurement of credit losses on financial
assets measured at amortized cost. This standard was effective for fiscal years beginning after December 15, 2019, including interim periods
within those fiscal years with early adoption permitted. In November 2019, the FASB issued ASU No. 2019-10, Financial Instruments—
Credit Losses (Topic 326), Derivatives and Hedging (Topic 815) and Leases (Topic 842). Effective Dates, which defers the effective date
of Topic 326. As a smaller reporting Company, Topic 326 will now be effective for the Company beginning January I, 2023. The Company adopted
this ASU January I, 2023 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