Company: IDVV
Filing Date: 2025-07-03
Form Type: 10-12G/A
Source: 0001683168-25-004925
Chunk: 133

Company: ModuLink Inc.
Filing Date: 2025-07-03
Form: 10-12G/A
Chunk 133
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 or
“China”).

Following the Share Exchange, ModuLink Group
became the primary operating business of the Company.

Merger of Entities under Common Control and Reverse Recapitalization

Prior to the Share Exchange, the Company was considered
as a shell company due to its nominal assets and limited operation.

The Share Exchange between the Company and MIL
on March 28, 2025 is considered a merger of entities under common control as Mr. TAM, Hin Wah Anthony, Mr. FU, Wah and Mr. AU-YEUNG Sai
Kit are the common directors and major shareholders of both the Company and MIL. Upon the consummation of acquisition on May 1, 2025,
MIL became the ongoing operating entity of the Company.

Accordingly, the transaction is accounted for
as a reverse recapitalization of the Company, with MIL deemed the accounting acquirer and the Company treated as the accounting acquiree
for financial reporting purposes. Under the guidance in Accounting Standard Codification (ASC) Topic 805, for transactions between entities
under common control, the assets, liabilities and results of operations, are recognized at their carrying amounts as of the consummation
date of the Share Exchange. This accounting treatment requires a retrospective presentation and combination of the consolidated financial
statements as if the share exchange had occurred and the current group structure had existed at the beginning of the earliest reporting
period presented. Accordingly, the historical financial statements of the Company reflect those of the accounting acquirer, i.e. the
ModuLink Group, prior to the transaction, accompanied by a recapitalization of the Company’s equity structure.

During the three months ended March 31, 2025
and 2024, the Company and ModuLink Group (collectively referred to the “Group”) generated revenues exclusively from modular
building construction and design services business.

Going Concern

The Company's consolidated financial statements
are prepared using accounting principles generally accepted in the United States of America, or U.S. GAAP, applicable to a going concern
which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has incurred
losses of $206,876 and has net cash used in operating activities of $811,255 for the three months ended March 31, 2025. In addition,
as at the reporting date, the Company has accumulated deficit of $3,056,607. These factors raise substantial doubt about the Company’s
ability to continue as a going concern