Company: IDVV
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001683168-25-006029
Chunk: 94

Company: ModuLink Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part II, Item 8
Chunk 94
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. Revenues and expenses are translated at average rates prevailing during the period. The gains and losses resulting from translation
of financial statements of foreign subsidiary are recorded as a separate component of accumulated other comprehensive income within the
statements of changes in shareholders’ equity.

Translation of amounts from HKD into US$ has been
made at the following exchange rates for the six months ended June 30, 2025 and 2024:

    June 30, 2025  
    June 30, 2024 
  
    Period-end HKD:US$ exchange rate 
     0.1282  
     0.1282 
  
    Average HKD:US$ exchange rate 
     0.1282  
     0.1282 

    ·
    Comprehensive income

ASC Topic 220, “Comprehensive Income”,
establishes standards for reporting and display of comprehensive income, its components and accumulated balances. Comprehensive income
as defined includes all changes in equity during a period from non-owner sources. Accumulated other comprehensive income, as presented
in the accompanying consolidated statements of changes in shareholders’ equity, consists of changes in unrealized gains and losses
on foreign currency translation. This comprehensive income is not included in the computation of income tax expense or benefit.

    ·
    Related parties

The Company follows the ASC 850-10, “Related
Party Disclosures” for the identification of related parties and disclosure of related party transactions. 

Pursuant to section 850-10-20 the related parties
include a) affiliates of the Company; b) entities for which investments in their equity securities would be required, absent the election
of the fair value option under the Fair Value Option Subsection of section 825-10-15, to be accounted for by the equity method by the
investing entity; c) trusts for the benefit of employees, such as pension and Income-sharing trusts that are managed by or under the trusteeship
of management; d) principal owners of the Company; e) management of the Company; f) other parties with which the Company may deal if one
party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting
parties might be prevented from fully pursuing its own separate interests; and g) other parties that can significantly influence
the management or operating policies of the transacting parties or that have an ownership interest in one of the transacting parties and
can