{"url_path":"/sec/lhai/10-k/2026/item-15","section_key":"item-15","section_title":"Item 15 Exhibit and Financial Statement Schedules.**","topic":"sec","document":{"doc_type":"10-K/A","doc_date":"2026-05-19","source_url":"https://www.sec.gov/Archives/edgar/data/2017758/0001213900-26-059081-index.html","accession_number":"0001213900-26-059081","cik":"0002017758","ticker":"LHAI","issuer_name":"Linkhome Holdings Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/2017758/0001213900-26-059081-index.html","primary_entity_key":"0002017758","primary_entity_name":"Linkhome Holdings Inc."},"word_count":12360,"has_tables":true,"body_markdown":"** **\n\n**Item 15. Exhibit and Financial Statement Schedules.**\n\n** **\n\n*(a) Exhibits.*\n\n \n\n**Exhibit\n\nNumber**\n \n**Exhibit Title**\n\n3.1*\n \n[Amended and Restated Certificate\nof Incorporation, (incorporated by reference to Exhibit 3.1 to the Company’s Registration Statement on Form S-1 (File No. 333-280379),\nfiled with the Securities and Exchange Commission on June 21, 2024).](https://www.sec.gov/Archives/edgar/data/2017758/000121390024054736/ea020355304ex3-1_linkhome.htm)\n\n3.2*\n \n[Bylaws, (incorporated by\nreference to Exhibit 3.2 to the Company’s Registration Statement on Form S-1 (File No. 333-280379), filed with the Securities\nand Exchange Commission on June 21, 2024).](https://www.sec.gov/Archives/edgar/data/2017758/000121390024054736/ea020355304ex3-2_linkhome.htm)\n\n4.1*\n \n[Form of Representative’s\nWarrants, (incorporated by reference to Exhibit 4.2 to the Post-Effective Amendment No.1 to the Company’s Registration Statement\non Form S-1 (File No. 333-280379), filed with the Securities and Exchange Commission on January 13, 2025).](https://www.sec.gov/Archives/edgar/data/2017758/000121390025003013/ea020355315ex4-2_link.htm)\n\n4.2**\n \n[Description of Securities](ea029145601ex4-2.htm)\n\n10.1*\n \n[Form of Indemnification\nAgreement, (incorporated by reference to Exhibit 10.1 to the Company’s Registration Statement on Form S-1 (File No. 333-280379),\nfiled with the Securities and Exchange Commission on June 21, 2024).](https://www.sec.gov/Archives/edgar/data/2017758/000121390024054736/ea020355304ex10-1_linkhome.htm)\n\n10.2#*\n \n[Employment Agreement, dated\nas of July 20, 2021, between Linkhome Realty and Zhen Qin, (incorporated by reference to Exhibit 10.2 to the Company’s Registration\nStatement on Form S-1 (File No. 333-280379), filed with the Securities and Exchange Commission on June 21, 2024).](https://www.sec.gov/Archives/edgar/data/2017758/000121390024054736/ea020355304ex10-2_linkhome.htm)\n\n10.3#*\n \n[Employment Agreement, dated\nas of July 20, 2021, between Linkhome Realty and Na Li, (incorporated by reference to Exhibit 10.3 to the Company’s Registration\nStatement on Form S-1 (File No. 333-280379), filed with the Securities and Exchange Commission on June 21, 2024).](https://www.sec.gov/Archives/edgar/data/2017758/000121390024054736/ea020355304ex10-3_linkhome.htm)\n\n10.4#*\n \n[Employment Agreement, dated\nas of June 1, 2023, between Linkhome Realty and Yuan Gao, (incorporated by reference to Exhibit 10.4 to the Company’s Registration\nStatement on Form S-1 (File No. 333-280379), filed with the Securities and Exchange Commission on June 21, 2024).](https://www.sec.gov/Archives/edgar/data/2017758/000121390024054736/ea020355304ex10-4_linkhome.htm)\n\n10.5*\n \n[Lease, by and between The\nIrvine Company LLC and Goldman Realty & Mortgage Inc., dated July 31, 2023, (incorporated by reference to Exhibit 10.5 to the\nCompany’s Registration Statement on Form S-1 (File No. 333-280379), filed with the Securities and Exchange Commission on June\n21, 2024).](https://www.sec.gov/Archives/edgar/data/2017758/000121390024054736/ea020355304ex10-5_linkhome.htm)\n\n10.6*\n \n[Form of Subscription Agreement,\n(incorporated by reference to Exhibit 10.6 to the Company’s Registration Statement on Form S-1 (File No. 333-280379), filed\nwith the Securities and Exchange Commission on June 21, 2024).](https://www.sec.gov/Archives/edgar/data/2017758/000121390024054736/ea020355304ex10-6_linkhome.htm)\n\n10.7†*\n \n[California Residential\nPurchase Agreement, (incorporated by reference to Exhibit 10.7 to the Company’s Registration Statement on Form S-1 (File No.\n333-280379), filed with the Securities and Exchange Commission on June 21, 2024).](https://www.sec.gov/Archives/edgar/data/2017758/000121390024054736/ea020355304ex10-7_linkhome.htm)\n\n14.1*\n \n[Code of Ethics, (incorporated\nby reference to Exhibit 14.1 to the Company’s Registration Statement on Form S-1 (File No. 333-280379), filed with the Securities\nand Exchange Commission on June 21, 2024).](https://www.sec.gov/Archives/edgar/data/2017758/000121390024054736/ea020355304ex14-1_linkhome.htm)\n\n19.1*\n \n[Trading Policy, (incorporated\nby reference to Exhibit 19.1 to the Company’s Annual Report on Form 10-K (File No. 333-280379), filed with the Securities and\nExchange Commission on March 27, 2025).](https://www.sec.gov/Archives/edgar/data/2017758/000101376225003420/ea023262001ex19-1_linkhome.htm)\n\n21.1*\n \n[List of Subsidiaries, (incorporated\nby reference to Exhibit 14.1 to the Company’s Registration Statement on Form S-1 (File No. 333-280379), filed with the Securities\nand Exchange Commission on June 21, 2024).](https://www.sec.gov/Archives/edgar/data/2017758/000121390024054736/ea020355304ex14-1_linkhome.htm)\n\n24.1\n \n[Power of Attorney (included\non the signature page of the Registration Statement on Form S-1 (File No. 333-280379) as filed with the Commission on June 21, 2024).](https://www.sec.gov/Archives/edgar/data/2017758/000121390024054736/ea0203553-04.htm#T2601)\n\n31.1**\n \n[Certification of the Chief Executive Officer required by Rule 13a-14(a) or Rule 15d-14(a).](ea029145601ex31-1.htm)\n\n31.2**\n \n[Certification of the Chief Financial Officer required by Rule 13a-14(a) or Rule 15d-14(a).](ea029145601ex31-2.htm)\n\n32.1**\n \n[Certification of the Chief Executive Officer required by Rule 13a-14(b) or Rule 15d-14(b) and 18 U.S.C. 1350.](ea029145601ex32-1.htm)\n\n32.2**\n \n[Certification of the Chief Financial Officer required by Rule 13a-14(b) or Rule 15d-14(b) and 18 U.S.C. 1350.](ea029145601ex32-2.htm)\n\n97.1*\n \n[Policy on Recoupment of\nIncentive Compensation, (incorporated by reference to Exhibit 97.1 to the Company’s Annual Report on Form 10-K (File No. 333-280379),\nfiled with the Securities and Exchange Commission on March 27, 2025).](https://www.sec.gov/Archives/edgar/data/2017758/000101376225003420/ea023262001ex97-1_linkhome.htm)\n\n101.INS\n \nInline XBRL Instance Document.\n\n101.SCH\n \nInline XBRL Taxonomy Extension Schema Document.\n\n101.CAL\n \nInline XBRL Taxonomy Extension Calculation Linkbase Document.\n\n101.DEF\n \nInline XBRL Taxonomy Extension Definition Linkbase Document.\n\n101.LAB\n \nInline XBRL Taxonomy Extension Label Linkbase Document.\n\n101.PRE\n \nInline XBRL Taxonomy Extension Presentation Linkbase Document.\n\n104\n \nCover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).\n\n \n\n*\nPreviously filed.\n\n \n\n**\nFiled or furnished herewith.\n\n \n\n†\nCertain of the schedules and exhibits to the agreement have been omitted pursuant to Item 601(a)(5) of Regulation S-K. A copy of any omitted schedule or exhibit will be furnished to the SEC upon request.\n\n \n\n#\nCertain private and immaterial portions of the agreement have been redacted pursuant to Item 601(b)(10)(iv) of Regulation S-K. A copy of any redacted information will be furnished to the SEC upon request.\n\n \n\n*(b) Financial Statement Schedule.*\n\n \n\nAll financial statement schedules are omitted because they are not\napplicable or the information is included in the registrant’s consolidated financial statements or related notes.\n\n53\n\n \n\n \n\n**SIGNATURES**\n\n \n\nPursuant to the\nrequirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this Amendment No. 1 to\nits report to be signed on its behalf by the undersigned, thereunto duly authorized.\n\n \n\n \n**LINKHOME HOLDINGS INC.**\n\n \n \n\nMay 19, 2026\nBy: \n/s/ Zhen Qin\n\n \n \nZhen Qin\n\n \n \nChairman of the Board and Chief Executive Officer\n\n \n\n**Name**\n \n**Title**\n \n**Date**\n\n \n \n \n \n \n\n/s/\nZhen Qin\n \nChairman\nof the Board and Chief Executive Officer\n \nMay\n19, 2026\n\nZhen\nQin\n \n(Principal\nExecutive Officer)\n \n \n\n \n \n \n \n \n\n/s/\nNa Li\n \nChief\nFinancial Officer and Director\n \nMay\n19, 2026\n\nNa\nLi\n \n(Principal\nFinancial and Accounting Officer)\n \n \n\n \n \n \n \n \n\n/s/\nXiaoyu Li\n \nDirector\n \nMay\n19, 2026\n\nXiaoyu\nLi\n \n \n \n \n\n \n \n \n \n \n\n/s/\nMinghui Sun\n \nDirector\n \nMay\n19, 2026\n\nMinghui\nSun\n \n \n \n \n\n \n \n \n \n \n\n/s/\nXin Liu\n \nDirector\n \nMay\n19, 2026\n\nXin\nLiu\n \n \n \n \n\n \n \n \n \n \n\n/s/\nLeung Tsz Kan\n \nDirector\n \nMay\n19, 2026\n\nLeung\nTsz Kan\n \n \n \n \n\n \n\n54\n\n \n\n \n\n**LINKHOME HOLDINGS INC.**\n\n**INDEX TO CONSOLIDATED FINANCIAL STATEMENTS**\n\n** **\n\n \n \n**Page**\n\n[Report of Independent Registered Public Accounting Firm (PCAOB ID#2485)](#f_001)\n \nF-2\n\n[Consolidated Balance Sheets](#f_002)\n \nF-3\n\n[Consolidated Statements of Income](#f_003)\n \nF-4\n\n[Consolidated Statements of Changes in Stockholders’ Equity](#f_004)\n \nF-5\n\n[Consolidated Statements of Cash Flows](#f_005)\n \nF-6\n\n[Notes to Consolidated Financial Statements](#f_006)\n \nF-7\n\n \n\nF-1\n\n \n\n \n\n \n\n**Report of Independent Registered Public Accounting Firm**\n\n \n\nShareholders and Board of Directors\n\nLinkhome Holdings Inc.\n\n \n\n**Opinion on the Consolidated financial statements**\n\n** **\n\nWe have audited the accompanying consolidated\nbalance sheets of Linkhome Holdings Inc. and its subsidiary (the “Company”) as of December 31, 2025 and 2024, the related\nconsolidated statements of income, stockholders’ equity, and cash flows for each of the years then ended, and the related notes\n(collectively referred to as the “consolidated financial statements”). In our opinion, the consolidated financial statements\npresent fairly, in all material respects, the financial position of the Company as of December 31, 2025 and 2024, and the results of its\noperations and its cash flows for each of the years then ended, in conformity with accounting principles generally accepted in the United\nStates of America.\n\n \n\n**Basis for Opinion**\n\n** **\n\nThese consolidated financial statements are the\nresponsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s consolidated financial\nstatements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United\nStates) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and\nthe applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.\n\n \n\nWe conducted our audits in accordance with the\nstandards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated\nfinancial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we\nengaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding\nof internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Company’s\ninternal control over financial reporting. Accordingly, we express no such opinion.\n\n \n\nOur audits included performing procedures to\nassess the risks of material misstatement of the consolidated financial statements, whether due to error or fraud, and performing procedures\nthat respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the\nconsolidated financial statements. Our audits also included evaluating the accounting principles used and significant estimates made\nby management, as well as evaluating the overall presentation of the consolidated financial statements. We believe that our audits provide\na reasonable basis for our opinion.\n\n \n\n**Critical Audit Matter**\n\n** **\n\nCritical audit matters are matters arising from\nthe current period audit of the consolidated financial statements that were communicated or required to be communicated to the audit committee\nand that: (1) relate to accounts or disclosures that are material to the consolidated financial statements and (2) involved our especially\nchallenging, subjective, or complex judgments. We determined that there are no critical audit matters.\n\n \n\n \n\n \n\nPCAOB ID: 2485\n\n \n\nWe have served as the Company's auditor since\n2023.\n\n \n\nRowland Heights, CA\n\n \n\nMarch 26, 2026\n\n \n\nF-2\n\n \n\n \n\n**LINKHOME HOLDINGS INC. AND SUBSIDIARY**\n\n**CONSOLIDATED\nBALANCE SHEETS**\n\n**AS OF DECEMBER 31, 2025 AND 2024**\n\n \n\n  \nDecember 31, \n\n  \n2025  \n2024 \n\n  \n   \n  \n\nAssets \n   \n  \n\n  \n   \n  \n\nCurrent Assets \n   \n  \n\nCash and cash equivalents \n$7,018,931  \n$1,670,949 \n\nAccounts receivable \n 109,968  \n 18,160 \n\nReal estate held for sale \n \n-\n  \n 907,061 \n\nPrepaid expenses and other receivables \n 18,267  \n 27,979 \n\nDeferred IPO costs \n \n-\n  \n 699,499 \n\nTotal Current Assets \n 7,147,166  \n 3,323,648 \n\n  \n    \n   \n\nNoncurrent Assets \n    \n   \n\nProperty and equipment, net \n 335,540  \n 70,771 \n\nOperating lease right-of-use assets, net \n 1,265,993  \n 29,410 \n\nIntangible assets, net \n 564,753  \n 1,449 \n\nDeferred tax assets, net \n 742  \n \n-\n \n\nInvestment under cost method \n 50,000  \n \n-\n \n\nLong-term prepaid expenses, net \n 617,625  \n \n-\n \n\nSecurity deposits \n 33,254  \n 4,235 \n\nTotal Noncurrent Assets \n 2,867,907  \n 105,865 \n\nTotal Assets \n$10,015,073  \n$3,429,513 \n\n  \n    \n   \n\nLiabilities and Stockholders’ Equity \n    \n   \n\n  \n    \n   \n\nCurrent Liabilities \n    \n   \n\nAccounts payable \n$93,735  \n$21,300 \n\nAuto loan payable, current \n 8,631  \n 8,102 \n\nOperating lease liabilities, current \n 109,711  \n 29,980 \n\nOther current liabilities \n 1,870,524  \n 830,065 \n\nDue to related party \n \n-\n  \n 55,000 \n\nTotal Current Liabilities \n 2,082,601  \n 944,447 \n\n  \n    \n   \n\nNoncurrent Liabilities \n    \n   \n\nAuto loan payable, noncurrent \n 26,754  \n 35,381 \n\nOperating lease liabilities, noncurrent \n 266,282  \n \n-\n \n\nTotal Noncurrent Liabilities \n 293,036  \n 35,381 \n\nTotal Liabilities \n 2,375,637  \n 979,828 \n\n  \n    \n   \n\n**Commitments and Contingencies** \n \n \n  \n \n \n \n\n  \n    \n   \n\nStockholders’ Equity \n    \n   \n\nPreferred stock, $0.001 par value, 1,000,000 shares authorized, no shares issued and outstanding at December 31, 2025 and 2024 \n \n-\n  \n \n-\n \n\nCommon stock, $0.001 par value, 100,000,000 shares authorized, 16,230,000 and 14,505,000 shares issued and outstanding at December 31, 2025 and 2024, respectively \n 16,230  \n 14,505 \n\nPaid-in capital \n 6,389,842  \n 1,276,690 \n\nRetained earnings \n 1,233,364  \n 1,158,490 \n\nTotal Stockholders’ Equity \n 7,639,436  \n 2,449,685 \n\nTotal Liabilities and Stockholders’ Equity \n$10,015,073  \n$3,429,513 \n\n \n\nThe accompanying notes are an integral part of these consolidated financial statements.\n\n \n\nF-3\n\n \n\n \n\n**LINKHOME HOLDINGS INC. AND SUBSIDIARY**\n\n**CONSOLIDATED\nSTATEMENTS OF INCOME**\n\n**FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024 **\n\n \n\n  \nYears Ended December 31, \n\n  \n2025  \n2024 \n\nNet Revenues (including $97,560 and $4,858,056 from related parties for the years ended December 31, 2025 and 2024, respectively) \n$20,994,347  \n$7,615,307 \n\nCost of Revenues \n 20,221,330  \n 6,144,926 \n\nGross Profit \n 773,017  \n 1,470,381 \n\n  \n    \n   \n\nOperating Expenses \n    \n   \n\nSelling expenses \n 34,141  \n 15,754 \n\nGeneral and administrative expenses \n 662,444  \n 365,207 \n\nTotal Operating Expenses \n 696,585  \n 380,961 \n\nOperating Income \n 76,432  \n 1,089,420 \n\n  \n    \n   \n\nOther Income (Expenses) \n    \n   \n\nInterest income \n 19,995  \n \n-\n \n\nInterest expense \n (4,892) \n (3,115)\n\nRealized loss on trading securities \n (2,651) \n \n-\n \n\nOther income, net \n 37,323  \n 1,283 \n\nTotal Other Income (Expenses), Net \n 49,775  \n (1,832)\n\nIncome before Income Taxes \n 126,207  \n 1,087,588 \n\nIncome Tax Expense \n 51,333  \n 309,352 \n\nNet Income \n$74,874  \n$778,236 \n\nEarnings per Share – Basic and Diluted \n$0.00  \n$0.05 \n\nWeighted Average Number of Common Stock Outstanding – Basic and Diluted \n 15,216,699  \n 14,357,377 \n\n \n\nThe accompanying notes are an integral part of these consolidated financial statements.\n\n \n\nF-4\n\n \n\n \n\n**LINKHOME HOLDINGS INC. AND SUBSIDIARY**\n\n**CONSOLIDATED\nSTATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY**\n\n**FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024**\n\n \n\n  \nPreferred stock  \nCommon stock  \nAdditional paid-in  \nRetained  \nTotal stockholder’s \n\n  \nShares  \nAmount  \nShares  \nAmount  \nCapital  \nEarnings  \nequity \n\nBalance at December 31, 2023 \n \n          -\n  \n$\n          -\n  \n 13,500,000  \n$13,500  \n$297,695  \n$380,254  \n$691,449 \n\nCommon shares issued for equity financing \n -  \n \n-\n  \n 1,005,000  \n 1,005  \n 978,995  \n \n-\n  \n 980,000 \n\nNet income \n -  \n -  \n -  \n -  \n -  \n 778,236  \n 778,236 \n\nBalance at December 31, 2024 \n \n-\n  \n$\n-\n  \n 14,505,000  \n$14,505  \n$1,276,690  \n$1,158,490  \n$2,449,685 \n\nIssuance of common stock \n -  \n \n-\n  \n 1,725,000  \n 1,725  \n 5,113,152  \n \n-\n  \n 5,114,877 \n\nNet income \n -  \n -  \n -  \n -  \n -  \n 74,874  \n 74,874 \n\nBalance at December 31, 2025 \n \n-\n  \n$\n-\n  \n 16,230,000  \n$16,230  \n$6,389,842  \n$1,233,364  \n$7,639,436 \n\n \n\nThe accompanying notes are an integral part of these consolidated financial statements.\n\n \n\nF-5\n\n \n\n \n\n**LINKHOME HOLDINGS INC. AND SUBSIDIARY**\n\n**CONSOLIDATED\nSTATEMENTS OF CASH FLOWS**\n\n**FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024 **\n\n \n\n  \nYears Ended December 31, \n\n  \n2025  \n2024 \n\nCash Flows from Operating Activities \n   \n  \n\nNet Income \n$74,874  \n$778,236 \n\nAdjustments to reconcile net income to net cash provided by operating activities: \n    \n   \n\nRealized loss on trading securities \n 2,651  \n \n-\n \n\nChange in allowance for credit losses \n \n-\n  \n (9,092)\n\nDepreciation and amortization \n 47,002  \n 18,762 \n\nLease expense \n 108,570  \n 45,347 \n\nDeferred tax assets \n (742) \n \n-\n \n\nChanges in operating assets and liabilities: \n    \n   \n\nAccounts receivable \n (91,808) \n (8,676)\n\nReal estate held for sale \n 907,061  \n (907,061)\n\nPrepaid expenses and other receivables \n 9,712  \n (2,971)\n\nLong-term prepaid expenses \n (617,625) \n \n-\n \n\nSecurity deposits \n (29,019) \n \n-\n \n\nAccounts payable \n 72,435  \n 4,597 \n\nOther current liabilities \n 1,040,459  \n 820,575 \n\nPayment of lease liabilities \n (999,140) \n (45,062)\n\nNet Cash Provided by Operating Activities \n 524,430  \n 694,655 \n\n  \n    \n   \n\nCash Flows from Investing Activities \n    \n   \n\nPurchase of trading securities \n (274,718) \n \n-\n \n\nProceeds from sale of trading securities \n 272,067  \n \n-\n \n\nPurchase of property and equipment \n (303,650) \n (2,064)\n\nCapitalized intangible assets \n (571,425) \n (1,449)\n\nInvestment under cost method \n (50,000) \n \n-\n \n\nNet Cash Used in Investing Activities \n (927,726) \n (3,513)\n\n  \n    \n   \n\nCash Flows from Financing Activities \n    \n   \n\nRepayments of auto loan payable \n (8,098) \n (7,605)\n\nProceeds from related party dues \n 465,347  \n 880,000 \n\nRepayments of related party dues \n (520,347) \n (825,000)\n\nProceeds from issuance of common stock \n 6,203,000  \n 980,000 \n\nPayment of offering costs \n (388,624) \n (699,499)\n\nNet Cash Provided by Financing Activities \n 5,751,278  \n 327,896 \n\nNet Increase in Cash and Cash Equivalents \n 5,347,982  \n 1,019,038 \n\n  \n    \n   \n\nCash and Cash Equivalents, Beginning of Period \n 1,670,949  \n 651,911 \n\nCash and Cash Equivalents, End of Period \n$7,018,931  \n$1,670,949 \n\n  \n    \n   \n\nSUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION \n    \n   \n\nCash Paid for Interest \n$4,892  \n$3,115 \n\nCash Paid for Income Taxes \n$62,674  \n$4,120 \n\n \n\nThe accompanying notes are an integral part of these consolidated financial statements.\n\n \n\nF-6\n\n \n\n \n\n**LINKHOME HOLDINGS INC. AND\nSUBSIDIARY\nNOTES TO CONSOLIDATED FINANCIAL STATEMENTS**\n\n \n\n**NOTE 1 — ORGANIZATION AND DESCRIPTION\nOF BUSINESS**\n\n \n\n**Organization and Business**\n\n \n\nLinkhome Holdings Inc. (“Linkhome”, “Linkhome Holdings”,\nor the “Company”) was incorporated in the State of Nevada, United States on November 6, 2023. The Company is a holding company\nwith no material operations of its own. The Company conducts substantially all of its operations through its wholly owned subsidiary,\nLinkhome Realty Group (“Linkhome Realty”), which was incorporated in the State of California on July 13, 2021.\n\n \n\nThe Company operates an AI-powered real estate\ntechnology platform designed to facilitate residential property transactions. The platform integrates property search capabilities, real\nestate transaction services, and financing-related solutions.\n\n \n\nThe Company’s services primarily include:\n\n \n\n●real estate brokerage services for residential property purchases\nand sales\n\n \n\n●transaction solutions through the Company’s Cash Offer\nprogram\n\n \n\n●property management services\n\n \n\n●home renovation services\n\n \n\n●mortgage referral services\n\n \n\nThrough its Cash Offer program, the Company may temporarily acquire\nresidential properties using its capital in order to facilitate transactions for clients. The property is subsequently sold to the client\nonce the client’s financing is finalized. The Company generates revenue primarily from real estate brokerage commissions, real estate\ntransaction activities through its Cash Offer program, property management services, renovation services, and mortgage referral fees.\n\n \n\n**NOTE 2 — SUMMARY OF SIGNIFICANT\nACCOUNTING POLICIES**\n\n \n\n**Basis of Presentation and Consolidation**\n\n \n\nThe accompanying consolidated\nfinancial statements have been prepared** **in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”)\nand applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding consolidated financial reporting.\nThe consolidated financial statements include the accounts of Linkhome Holdings and Linkhome Realty. All intercompany transactions and\nbalances between the Company and its subsidiary have been eliminated upon consolidation. In the opinion of management, such financial\ninformation includes all adjustments (consisting only of normal recurring adjustments, unless otherwise indicated) considered necessary\nfor a fair presentation of the Company’s financial position at such date and the operating results and cash flows for such periods.\n\n \n\n**Emerging Growth Company**\n\n \n\nThe Company is an “emerging\ngrowth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups\nAct of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements\nthat are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required\nto comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002, reduced disclosure\nobligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding\na nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved.\n\n \n\nF-7\n\n \n\n \n\nFurther, Section 102(b)(1) of\nthe JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until\nprivate companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class\nof securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The\nJOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to\nnon-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended\ntransition period which means that when a standard is issued or revised and it has different application dates for public or private companies,\nthe Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised\nstandard. This may make comparison of the Company’s financial statements with another public company which is neither an emerging\ngrowth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because\nof the potential differences in accounting standards used.\n\n  \n\n**Use of Estimates**\n\n \n\nThe preparation of the consolidated\nfinancial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported\namounts of assets and liabilities as of the dates of the consolidated financial statements, as well as the reported amounts of revenues\nand expenses during the reporting period. These estimates and judgments include, but are not limited to, revenue recognition, allowance\nfor credit losses, income taxes, the useful lives of long-lived assets and assumptions used in assessing impairment of long-lived assets.\nManagement bases its estimates on historical experience and on various other assumptions believed to be reasonable under the circumstances,\nthe results of which form the basis for making judgments about the carrying values of assets and liabilities. Although actual amounts\nmay differ from the estimated amounts, such differences are not likely to be material.\n\n \n\n**Cash and Cash Equivalents**\n\n \n\nFor purposes of the statements\nof cash flows, the Company considers cash, money market funds, investments in interest bearing demand deposit accounts, time deposits\nand all highly liquid investments with an original maturity of three months or less to be cash equivalents. Cash and cash equivalent\nreadily convertible to known amounts of cash are subject to an insignificant risk of changes in value.\n\n \n\n**Investments in Trading Securities**\n\n \n\nThe Company classifies investments\nin trading securities as financial instruments acquired with the intent to sell them in the near term for profit. Trading securities are\ninitially recorded at cost and subsequently measured at fair value, with both realized and unrealized gains or losses recognized in the\nconsolidated statements of income under “Other Income/Expenses.” Unrealized gains or losses arising from changes in the fair\nvalue of trading securities are recognized in the consolidated statements of income at each reporting period, while realized gains or\nlosses are calculated based on the difference between the sale proceeds and the carrying value of the securities sold.\n\n \n\nThe Company opened an investment\naccount with J.P. Morgan Chase in January 2025. During the year ended December 31, 2025, the Company purchased and disposed of trading\nsecurities totaling approximately $274,718 and $272,067, respectively. The investment account balance was withdrawn in June\n2025, and no trading securities were held as of December 31, 2025. For the year ended December 31, 2025, the Company recognized a realized\nloss on trading securities of $2,651, which was recorded in the consolidated statements of income under “Other Income/Expenses.”\n\n \n\n**Credit Losses**\n\n \n\nOn January 1, 2023,\nthe Company adopted ASU 2016-13, “Financial Instruments — Credit Losses (Topic 326): Measurement\nof Credit Losses on Financial Instruments” (“ASC 326”). This standard replaced the incurred loss methodology with\nan expected loss methodology that is referred to as the current expected credit loss (“CECL”) methodology. CECL requires an\nestimate of credit losses for the remaining estimated life of the financial asset using historical experience, current conditions, and\nreasonable and supportable forecasts and generally applies to financial assets measured at amortized cost, including loan receivables\nand held-to-maturity debt securities, and some off-balance sheet credit exposures such as unfunded commitments to extend credit.\nFinancial assets measured at amortized cost will be presented at the net amount expected to be collected by using an allowance for credit\nlosses. In addition, CECL made changes to the accounting for available-for-sale debt securities. One such change is to require credit\nlosses to be presented as an allowance rather than as a write-down on available-for-sale debt securities if management does\nnot intend to sell and does not believe that it is more likely than not they will be required to sell.\n\n \n\nF-8\n\n \n\n \n\nThe Company adopted ASC 326\nand all related subsequent amendments thereto effective January 1, 2023, using the modified retrospective approach for all financial\nassets measured at amortized cost and off-balance sheet credit exposures. There was no transition adjustment upon the adoption of\nCECL.\n\n \n\nThe Company’s accounts\nreceivable and prepaid expense in the consolidated balance sheets are within the scope of ASC Topic 326. As the Company has limited\ncustomers and debtors, the Company uses the loss-rate method to evaluate the expected credit losses on an individual basis. When\nestablishing the loss rate, the Company makes the assessment on various factors, including historical experience, creditworthiness of\ncustomers and debtors, current economic conditions, reasonable and supportable forecasts of future economic conditions, and other factors\nthat may affect its ability to collect from the customers and debtors. The Company also provides specific provisions for allowance when\nfacts and circumstances indicate that the receivable is unlikely to be collected.\n\n \n\nExpected credit losses are\nrecorded as an allowance for credit losses, which is netted against accounts receivable in the consolidated balance sheets, and are recognized\nas an expense in the consolidated statements of income. Receivables are written off against the allowance when all collection efforts\nhave been exhausted and recovery is deemed remote. If the Company recovers amounts that were previously written off, the recovered amounts\nare recognized as a reduction to the provision for credit losses in the consolidated statements of income.\n\n \n\n**Accounts Receivable, Net**\n\n \n\nAccounts receivable represent\nthe amounts that the Company has an unconditional right to consideration, which are stated at the historical carrying amount net of allowance\nfor credit losses. The Company maintains allowances for credit losses for estimated losses. The Company reviews the accounts receivable\non a periodic basis and makes allowances when there is doubt as to the collectability of individual balances. In evaluating the collectability\nof individual receivable balances, the Company considers many factors, including historical losses, the age of the receivable balance,\nthe customer’s historical payment patterns and creditworthiness, current economic conditions, and reasonable and supportable forecasts\nof future economic conditions. Accounts are written off against the allowance after all means of collection have been exhausted and the\npotential for recovery is considered remote. As of December 31, 2025 and 2024, the Company had no allowances for credit losses.\n\n \n\n**Real Estate Held for Sale**\n\n \n\nReal estate properties acquired\non behalf of clients as part of the Company’s Cash Offer program are classified as real estate held for sale in accordance with\nthe criteria outlined in FASB ASC Topic 360, “Property, Plant, and Equipment.” Under this classification, properties held\nfor sale are measured at the lower of cost or fair value less costs to sell. As of December 31, 2025, the Company had no real estate held\nfor sale. As of December 31, 2024, the Company recorded one property as real estate held for sale with a carrying value of $907,061. This\nproperty was acquired in December 2024 under the Cash Offer program to facilitate a transaction for a client and was subsequently sold\nin January 2025.\n\n \n\n**Advance to Contractor**\n\n \n\nAdvance to contractor represents\namounts paid to contractors in advance for home renovation projects that are not yet completed, from which the Company expects to receive\nfuture economic benefits within its normal operating cycle. Home renovation projects are generally completed within one to three months\nfrom the date the advance payment is made. As of December 31, 2025 and 2024, there were no outstanding advances to contractors.\n\n \n\n**Deferred Initial Public Offering (“IPO”)\nCosts**\n\n \n\nThe Company accounts for\ndeferred IPO costs in accordance with the requirement of ASC 340-10-S99-1 and SEC Staff Accounting Bulletin (“SAB”)\nTopic 5A — “Expenses of Offering.” Deferred offering costs consist of underwriting, legal, consulting,\nand other expenses incurred up to the balance sheet date that are directly attributable to the planned IPO. These deferred costs\nwill be charged to shareholders’ equity upon the successful completion of the IPO. If the IPO is unsuccessful, all deferred\ncosts, along with any additional expenses incurred, will be charged to operations.\n\n \n\nIn July 2025, the Company\nsuccessfully completed its initial public offering, and the deferred offering costs were reclassified to additional paid-in capital as\na reduction of the IPO proceeds. As of December 31, 2025 and 2024, deferred IPO costs amounted to $0 and $699,499, respectively.\n\n \n\nF-9\n\n \n\n \n\n**Property and Equipment, Net**\n\n \n\nProperty and equipment are\nstated at cost, net of accumulated depreciation and impairment losses, if any. Expenditures for maintenance and repairs are expensed as\nincurred, while additions, renewals and improvements that extend the useful lives of property and equipment are capitalized. When assets\nare retired or otherwise disposed of, the related cost and accumulated depreciation is removed from the respective accounts, and any resulting\ngain or loss is reflected in the consolidated statements of income. Depreciation is computed using the straight-line method over the estimated\nuseful lives of the assets. For the years ended December 31, 2025 and 2024, depreciation expense amounted to $38,881 and $18,762, respectively.\nThe estimated useful lives by asset classification are generally as follows:\n\n \n\n   Estimated\nUseful Life\n\nFurniture and fixtures  3 – 7 years\n\nOffice equipment  3 – 5 years\n\nVehicles  5 years\n\nLeasehold improvements  Shorter of lease term or useful life\n\n \n\n**Intangible Assets, Net**\n\n** **\n\nIntangible assets consist\nprimarily of internally developed software and trademarks. Internally developed software is capitalized in accordance with ASC 350-40,\n“Internal-Use Software.” Costs incurred during the application development stage are capitalized and amortized using the straight-line\nmethod over the estimated useful life of the software once the asset is placed in service. Trademarks are considered indefinite-lived\nintangible assets and are not amortized but are evaluated for impairment annually or more frequently if events or changes in circumstances\nindicate the asset may be impaired.\n\n \n\nIn December 2025, the Company\nplaced into service internally developed software related to its AI-driven real estate platform, including the Linkhome website and the\nLinkhome AI mobile application. The Company capitalized $570,000 of development costs associated with the platform and began amortization\nwhen the software was placed into service on December 5, 2025. The internally developed software is amortized using the straight-line\nmethod over its estimated useful life of five years. For the year ended December 31, 2025, amortization expense related to the internally\ndeveloped software was $8,121.\n\n \n\n**Investment under Cost Method**\n\n \n\nThe Company accounts for investments\nwith less than 20% of the voting shares and does not have the ability to exercise significant influence over the operating and financial\npolicies of the investee using the cost method. The Company elects the measurement alternative and records investments in equity securities\nat historical cost in its consolidated financial statements. Such investments are subject to evaluation for impairment. Dividends received\nfrom the net accumulated earnings of the investee are recognized as income, while dividends received in excess of such earnings are considered\na return of investment and recorded as a reduction of the cost of the investment.\n\n \n\nIn October 2025, the Company invested $50,000 in the common stock of\na privately held company, representing an approximate 2.5% ownership interest. As of December 31, 2025, the carrying value of the investment\nwas $50,000. No impairment was recorded during the year ended December 31, 2025.\n\n \n\nF-10\n\n \n\n \n\n**Impairment of Long-Lived Assets**\n\n \n\nLong-lived assets, which\ninclude property, plant and equipment and intangible assets, are reviewed for impairment whenever events or changes in circumstances indicate\nthe carrying amount of an asset may not be recoverable. The recoverability of long-lived assets to be held and used is measured by\ncomparing the carrying amount of an asset to the estimated undiscounted future cash flows expected to be generated by the asset. If the\ncarrying amount of an asset exceeds its estimated undiscounted future cash flows, an impairment charge is recognized by the amount by\nwhich the carrying amount of the asset exceeds the fair value of the assets. Fair value is generally determined using the asset’s\nexpected future discounted cash flows or market value, if readily determinable.\n\n \n\nThe Company evaluates events\nand changes in circumstances that could indicate the carrying amounts of long-lived assets may not be recoverable. When such events\nor changes in circumstances occur, the Company assesses the recoverability of long-lived assets by determining whether the carrying\nvalue of such assets will be recovered through undiscounted expected future cash flows. If the total of the future undiscounted cash flows\nis less than the carrying amount of those assets, the Company records an impairment charge in the period in which such a determination\nis made. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying\namount of the assets exceeds the fair value of the assets. Based on the above analysis, no impairment loss was recognized related to these\nassets for the years ended December 31, 2025 and 2024.\n\n \n\n**Income Taxes**\n\n \n\nThe Company uses the asset\nand liability method of accounting for income taxes in accordance with FASB ASC Topic 740, “Income Taxes.” Under this\nmethod, income tax expense is recognized for the amount of: (i) taxes payable or refundable for the current period and (ii) deferred\ntax consequences of temporary differences resulting from matters that have been recognized in an entity’s financial statements or\ntax returns. Deferred tax assets also include the prior years’ net operating losses carried forward. Deferred tax assets and\nliabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences\nare expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the\nresults of operations in the period that includes the enactment date. A valuation allowance is provided to reduce the deferred tax assets\nreported if based on the weight of the available positive and negative evidence, it is more likely than not some portion or all of the\ndeferred tax assets will not be realized.\n\n \n\nThe Company follows FASB\nASC Topic 740, which prescribes a more-likely-than-not threshold for financial statement recognition and measurement of a tax\nposition taken or expected to be taken in a tax return. FASB ASC Topic 740 also provides guidance on recognition of income tax assets\nand liabilities, classification of current and deferred income tax assets and liabilities, accounting for interest and penalties associated\nwith tax positions, accounting for income taxes in interim periods, and income tax disclosures.\n\n \n\nUnder the provisions of FASB\nASC Topic 740, when tax returns are filed, it is likely some positions taken would be sustained upon examination by the taxing authorities,\nwhile others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately\nsustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available\nevidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution\nof appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that\nmeet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent\nlikely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions\ntaken that exceeds the amount measured as described above is reflected as a liability for unrecognized tax benefits in the accompanying\nbalance sheets along with any associated interest and penalties that would be payable to the taxing authorities upon examination. Interest\nassociated with unrecognized tax benefits is classified as interest expense and penalties are classified in selling, general and administrative\nexpenses in the statements of income. For the years ended December 31, 2025 and 2024, the Company did not take any uncertain positions\nthat would necessitate recording a tax related liability.\n\n \n\nPrior to January 1,\n2024, Linkhome Realty filed its income tax return under Subchapter S of the Internal Revenue Code (“IRC”) as an S-corporation,\nand elected to be taxed as a pass-through entity, for which the income, losses, deductions, and credits flow through to the shareholders\nof the company for federal income tax purposes. Effective January 1, 2024, Linkhome Realty’s tax status became C-corporation,\nand is subject to a federal income tax rate of 21% and California state income tax rate of 8.84%. As a parent holding company\nof Linkhome Realty, Linkhome Holdings was incorporated in the State of Nevada on November 6, 2023, and is only subject to a federal\nincome tax rate of 21%. Effective for the tax year beginning January 1, 2024, and continuing thereafter unless revoked, Linkhome\nHoldings and Linkhome Realty have elected to file a consolidated federal income tax return.\n\n \n\nF-11\n\n \n\n \n\n**Revenue Recognition**\n\n \n\nIn accordance with ASC 606,\n“Revenue from Contracts with Customers,” revenue is recognized when a customer obtains control of promised goods or services.\nThe amount of revenue recognized reflects the consideration that the Company expects to be entitled to receive in exchange for these goods\nor services. The Company recognizes revenues following the five-step model prescribed under ASU No. 2014-09: (i) identifies\ncontract(s) with a customer; (ii) identifies the performance obligations in the contract; (iii) determines the transaction\nprice; (iv) allocates the transaction price to the performance obligations in the contract; and (v) recognizes revenues when\n(or as) it satisfies the performance obligation.\n\n \n\nThe Company derives its revenues\nprimarily from real estate services and real estate purchases and sales through Cash Offer.\n\n \n\nReal Estate Service Revenue\n\n \n\nThe Company’s real\nestate service revenue consists primarily of real estate agency commission for buying and selling properties for clients, and revenue\ngenerated from property management, home renovation, and mortgage referral services.\n\n \n\nThe Company earns agency\ncommission revenue, usually at a fixed percentage of the property’s selling price, through facilitating the buy or sale of various\ntypes of properties, including residential, commercial, and land parcels. The Company is considered an agent for these services provided,\nand reports service revenue earned through these transactions on a net basis. Revenue is recognized when the agency service is provided,\nusually at the closing of escrow.\n\n \n\nPrior to November 17, 2023,\nthe Company conducted real estate transactions through a licensed third-party brokerage firm. On November 17, 2023, Linkhome Realty obtained\nits own real estate broker license, allowing the Company to conduct brokerage transactions independently.\n\n \n\nThe Company provides property\nmanagement services, which include two primary activities: tenant placement and ongoing property management. Tenant placement services\ninvolve marketing the property, identifying suitable tenants, and facilitating the rental agreement. For these services, the Company acts\nas an agent and charges a rental commission, either as a percentage of the first year’s rent or a fixed fee. Revenue from tenant\nplacement is recognized at a point in time when a tenant is secured, and the lease contract is executed. Additionally, the Company provides\nongoing property management services, which may include collecting rent on behalf of the landlord, coordinating maintenance and repairs,\nand addressing tenant inquiries during the lease term. For these services, the Company also acts as an agent and charges a service fee.\nRevenue from ongoing property management is recognized over time as the services are rendered, as the landlord simultaneously receives\nand consumes the benefits of the Company’s efforts.\n\n \n\nThe Company also offers a\nfull range of home renovation services, from bathroom and kitchen renovations to customized home renovations and extensions, helping clients\nprepare their homes for sale or personalize newly purchased properties. The Company considers itself as a principal for this service as\nit has control of the specified service at any time before it is transferred to the customer, which is evidenced by (i) the Company\nis primarily responsible for fulfilling the promises to provide home renovation services meeting customer specifications, and assumes\nfulfilment risk (i.e., risk that the performance obligation will not be satisfied); and (ii) the Company has discretion in selecting\nthird-party renovation contractors and establishing the price, and bears the risk for services that are not fully paid for by customers.\nThe renovation period is usually within one to three months; the Company recognizes revenue when the renovation service is completed,\non a gross basis with corresponding costs incurred.\n\n \n\nIn addition, the Company collaborates with lending institutions and\nmortgage brokers to assist clients in seeking and securing mortgage services, and aiding clients in the process of obtaining loans or\nfinancing for property purchases. Revenue is recognized when the related loan transaction is completed and the Company becomes entitled\nto the referral fee.\n\n \n\nF-12\n\n \n\n \n\nRevenue from Property Purchases and Sales through\nCash Offer\n\n \n\nThe Company’s revenue from purchases and sales through its Cash\nOffer program primarily consists of purchasing residential properties and subsequently reselling those properties to customers within\na short period of time. Under the Cash Offer program, the Company may purchase residential properties using its own capital, with title\ntransferred to Linkhome Realty, and subsequently resell the properties to customers. Both purchase and sales transactions go through an\nescrow company. The Company is the principal of these transactions and recognizes revenue and cost when the property purchased is sold\nand escrow is closed. This type of revenue does not contain a financing component due to there being no difference between the amount\nof promised consideration and the cash selling price of the promised goods or services, and the length of time between when the Company\ntransfers the promised goods or services to the customer and when the customer pays for those goods is very short, usually within a few weeks\nor a few months.\n\n \n\nDisaggregation of Revenue\n\n \n\nThe following table provides\ninformation about disaggregated revenue by revenue stream.\n\n \n\n  \nYear Ended\nDecember 31,\n\n2025  \nYear Ended\nDecember 31,\n\n2024 \n\nReal estate service revenue \n   \n  \n\nReal estate agency commission \n$657,914  \n$781,351 \n\nProperty management service \n 35,148  \n 16,276 \n\nHome renovation service \n 82,769  \n 245,226 \n\nMortgage referral fee \n 64,254  \n 4,050 \n\nTotal real estate service revenue \n 840,085  \n 1,046,903 \n\nRevenue from property purchases and sales through Cash Offer \n 20,154,262  \n 6,568,404 \n\nTotal revenues \n$20,994,347  \n$7,615,307 \n\n** **\n\n**Cost of Revenues**\n\n \n\nCost of revenues consists\nprimarily of (i) costs related to property purchases made under Linkhome Realty’s name, which are subsequently sold to customers,\nand (ii) costs associated with real estate services, including commission expenses for real estate agents working for the Company\nand renovation costs incurred for home renovation services.\n\n \n\n**Segment Information**\n\n \n\nOn October 1, 2024, the Company\nadopted ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” The Company applies\nthe “management approach” to identify operating segments, as required by ASC 280-10-50. Under this approach, operating segments\nare components of the business whose operating results are regularly reviewed by the chief operating decision maker (“CODM”)\nto assess performance and allocate resources. The Company’s CODM is the senior executive committee, which includes the Chief Executive\nOfficer and the Chief Financial Officer.\n\n \n\nThe CODM manages the Company’s\noperations as a single operating and reportable segment, referred to as the Real Estate Solutions segment, which includes all activities\nrelated to the Company’s integrated real estate platform. The Company manages its business activities on a consolidated basis, including\ntwo principal business lines: (1) Cash Offer transactions, in which the Company purchases and resells properties for customers; and (2)\nreal estate services, including real estate agency services, property management services, home renovation services, and mortgage referral\nservices. See “*Revenue Recognition*” for a breakdown of revenues by stream.\n\n \n\nF-13\n\n \n\n \n\nThe accounting policies of\nthe Real Estate Solutions segment are the same as those described elsewhere in the summary of significant accounting policies. The CODM\nassesses segment performance and allocates resources primarily based on consolidated net income, which is also reported in the Company’s\nconsolidated statements of income. The CODM does not review segment assets or liabilities separately and receives financial reporting\non a consolidated basis.\n\n \n\nNet income is used by the\nCODM to evaluate the return on segment assets and determine whether to reinvest profits in the business, fund acquisitions, or return\ncapital to shareholders. Net income is also used to compare actual performance against budget and to benchmark the Company’s performance\nagainst industry peers. These evaluations form the basis for internal performance assessments and management compensation decisions.\n\n \n\nThe following table presents\nthe segment revenues, segment profit or loss, and significant segment expenses included in the measure of segment performance for the\nyears ended December 31, 2025 and 2024:\n\n \n\n  \nYear Ended\nDecember 31,\n2025  \nYear Ended\nDecember 31,\n2024 \n\nSegment revenues(1) \n$20,994,347  \n$7,615,307 \n\nLess: \n    \n   \n\nCost of revenues \n 20,221,330  \n 6,144,926 \n\nSegment gross profit \n 773,017  \n 1,470,381 \n\nLess: \n    \n   \n\nPayroll and payroll tax expenses \n 197,303  \n 166,051 \n\nLegal and accounting expenses \n 218,250  \n 99,363 \n\nRent expense \n 108,570  \n 46,572 \n\nOther segment items(2) \n 70,793  \n 48,930 \n\nDepreciation and amortization \n 47,002  \n 18,762 \n\nInterest expense \n 4,892  \n 3,115 \n\nIncome tax expense \n 51,333  \n 309,352 \n\nSegment net income \n$74,874  \n$778,236 \n\n  \n    \n   \n\nReconciliation of profit or loss \n    \n   \n\nAdjustments and reconciling items \n \n—\n  \n \n—\n \n\nConsolidated net income \n$74,874  \n$778,236 \n\n \n\n(1) Segment revenues represent revenues from external customers and are consistent with consolidated net revenues as reported in the Company’s consolidated statements of income. The Company had no intersegment sales during the periods presented.\n\n \n\n(2) Other segment items include marketing expenses, insurance expenses, office expenses, and other overhead expenses.\n\n \n\nThe following table presents\nsegment assets and expenditures for segment assets. Segment assets are reviewed on a consolidated basis and reflect total consolidated\nassets as reported in the Company’s consolidated balance sheets. Expenditures for segment assets include additions to long-lived assets.\n\n \n\n  \nDecember 31,\n2025  \nDecember 31,\n2024 \n\nSegment assets \n$10,015,073  \n$3,429,513 \n\n \n\nF-14\n\n \n\n \n\n  \nYear Ended\nDecember 31,\n2025  \nYear Ended\nDecember 31,\n2024 \n\nExpenditures for segment assets(1) \n$875,075  \n$3,513 \n\n \n\n(1) Expenditures for segment assets represent capital expenditures, including purchases of property and equipment and capitalized intangible assets.\n\n \n\nAll of the Company’s\nrevenues and long-lived assets were attributable to operations in the United States for the years ended December 31, 2025 and\n2024. All customers resided in the United States, and all properties purchased and sold by the Company were located in the United States.\nTherefore, no geographical disaggregation is presented.\n\n \n\nFor the year ended December\n31, 2025, revenues from two customers accounted for approximately 12.02% and 10.89% of the Company’s total revenues, respectively.\nFor the year ended December 31, 2024, revenues from two related-party customers accounted for approximately 40.13% and 23.10% of the Company’s\ntotal revenues, respectively.\n\n \n\n**Concentration of Credit Risk**\n\n \n\nFinancial instruments that\npotentially subject the Company to concentrations of credit risk consist primarily of cash, cash equivalents, and accounts receivable.\nThe Company has concentrated its credit risk for cash by maintaining deposits in the financial institutions in the United States.\nDeposits in these financial institutions may, from time to time, exceed the Federal Deposit Insurance Corporation (“FDIC”)’s\nfederally insured limits. The standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category.\nThe bank deposits exceeding the standard insurance amount will not be covered. The Company did not incur any losses on its cash and cash\nequivalents as of December 31, 2025 and 2024.\n\n \n\n**Fair Value of Financial Instruments**\n\n \n\nThe Company applies the fair\nvalue measurement accounting standard in accordance with ASC 820-10, “Fair Value Measurements and Disclosures,” whenever\nother accounting pronouncements require or permit fair value measurements. Fair value is defined in ASC 820-10 as the price\nthat would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement\ndate. The fair value hierarchy is based on inputs to valuation techniques that are used to measure fair value that are either observable\nor unobservable. Observable inputs reflect assumptions market participants would use in pricing an asset or liability based on market\ndata obtained from independent sources, while unobservable inputs reflect a reporting entity’s pricing based upon their own market\nassumptions. The fair value hierarchy consists of the following three levels (Level 1 is the highest priority and Level 3 is the lowest\npriority):\n\n \n\n \n●\nLevel 1 — Observable inputs that reflect quoted prices for identical assets or liabilities in active markets.\n\n \n\n \n●\nLevel 2 — Inputs other than quoted prices included in Level 1 that are observable for the asset or liability either directly or indirectly, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in inactive markets, or other observable inputs that can be corroborated by observable market data.\n\n \n\n \n●\nLevel 3 — Unobservable inputs that are not supported by market data. Unobservable inputs are developed based on the best information available, which might include the Company’s own data.\n\n \n\nAs of December 31, 2025 and\n2024, the Company did not have any assets or liabilities that were required to be remeasured at fair value on a recurring basis. The carrying\nvalues of financial instruments included in current assets and current liabilities approximate their fair values because of their short\nmaturities.\n\n \n\nF-15\n\n \n\n \n\n**Leases**\n\n \n\nUnder ASC 842, “Leases,”\na contract is or contains a lease when the Company has the right to control the use of an identified asset. The Company determines if\nan arrangement is a lease at inception of the contract, which is the date on which the terms of the contract are agreed to, and the agreement\ncreates enforceable rights and obligations. The commencement date of the lease is the date that the lessor makes an underlying asset available\nfor use by the Company.\n\n \n\nThe Company determines if\nthe lease is an operating or finance lease at the lease commencement date based upon the terms of the lease and the nature of the asset.\nThe lease term used to calculate the lease liability includes options to extend or terminate the lease when it is reasonably certain that\nthe option will be exercised. Linkhome Realty’s office lease is classified as an operating lease, reflected in the operating lease\nright-of-use assets, current portion of operating lease liabilities and non-current portion of operating lease liabilities in\nthe consolidated balance sheets.\n\n \n\nThe lease liability is measured\nat the present value of future lease payments, discounted using the discount rate for the lease at the commencement date. As the Company\nis typically unable to determine the implicit rate, the Company uses an incremental borrowing rate based on the lease term and economic\nenvironment at commencement date. The Company’s incremental borrowing rate is a hypothetical rate based on its understanding of\nwhat its credit rating would be. The ROU assets include adjustments for prepayments and accrued lease payments. The right-of-use (“ROU”)\nasset is initially measured as the amount of lease liability, adjusted for any initial lease costs, prepaid lease payments, and reduced\nby any lease incentives.\n\n \n\nROU assets are reviewed for\nimpairment when indicators of impairment are present. ROU assets from operating and finance leases are subject to the impairment guidance\nin ASC 360, “Property, Plant, and Equipment,” as ROU assets are long-lived nonfinancial assets.\n\n \n\nROU assets are tested for\nimpairment individually or as part of an asset group if the cash flows related to the ROU assets are not independent from the cash flows\nof other assets and liabilities. An asset group is the unit of accounting for long-lived assets to be held and used, which represents\nthe lowest level for which identifiable cash flows are largely independent of the cash flows of other groups of assets and liabilities.\nAs of December 31, 2025 and 2024, the Company recognized no impairment of ROU assets.\n\n \n\n**Related Parties and Transactions**\n\n \n\nThe Company identifies related\nparties, and accounts for, discloses related party transactions in accordance with ASC 850, “Related Party Disclosures”\nand other relevant ASC standards.\n\n \n\nParties, which can be a corporation\nor individual, are related if the Company has the ability, directly or indirectly, to control the other party or exercise significant\ninfluence over the other party in making financial and operational decisions. Companies are also considered to be related if they are\nsubject to common control or common significant influence. Transactions between related parties commonly occurring in the normal course\nof business are related party transactions. Transactions between related parties are also considered to be related party transactions\neven though they may not be given accounting recognition. While ASC does not provide accounting or measurement guidance for such transactions,\nit nonetheless requires their disclosure.\n\n \n\n**Earnings per Share**\n\n \n\nBasic earnings per share\nis computed by dividing net income attributable to common shareholders by the weighted-average number of common shares outstanding during\nthe period. Diluted earnings per share is computed by dividing net income attributable to common shareholders by the weighted-average\nnumber of common shares outstanding and potential common shares (e.g., convertible securities, options and warrants) as if they had been\nconverted at the beginning of the periods presented, or issuance date, if later. Potential common shares that have an anti-dilutive effect\n(i.e., those that increase earnings per share or decrease loss per share) are excluded from the calculation of diluted earnings per share.\nFor the years ended December 31, 2025 and 2024, the Company had no dilutive securities.\n\n \n\nF-16\n\n \n\n \n\n**Commitments and Contingencies**\n\n \n\nCertain conditions may exist\nas of the date the consolidated financial statements are issued, which may result in a loss to the Company, but which will only be resolved\nwhen one or more future events occur or fail to occur. The Company’s management and legal counsel assess such contingent liabilities,\nand such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that\nare pending against the Company or unasserted claims that may result in such proceedings, the Company’s legal counsel evaluates\nthe perceived merits of any legal proceedings or unasserted claims as well as the perceived merits of the amount of relief sought or expected\nto be sought.\n\n \n\nIf the assessment of a contingency\nindicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, the estimated liability\nwould be accrued in the Company’s consolidated financial statements. If the assessment indicates that a potential material loss\ncontingency is not probable but is reasonably possible, or is probable but cannot be estimated, the nature of the contingent liability,\ntogether with an estimate of the range of possible loss if determinable and material, would be disclosed. As of December 31, 2025 and\n2024, the Company had no such contingencies.\n\n \n\nIn December 2025, the Company\nreceived $1,500,085 from a third party in connection with a proposed real estate investment. The transaction was cancelled on December\n31, 2025, and the Company recorded a liability for the full amount as of December 31, 2025. The amount was repaid in full on January 2,\n2026. See Note 7 – Other Current Liabilities for additional information.\n\n \n\n**New Accounting Pronouncements**\n\n \n\nThe Company considers the\napplicability and impact of all ASUs and periodically reviews new accounting standards that are issued. Under the Jumpstart Our Business\nStartups Act of 2012, as amended (the “JOBS Act”), the Company meets the definition of an emerging growth company\nand has elected the extended transition period for complying with new or revised accounting standards, which delays the adoption of these\naccounting standards until they would apply to private companies.\n\n \n\nRecently Adopted Accounting Pronouncements\n\n \n\nIn November 2023, the FASB\nissued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” The amendments in the\nASU are intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment\nexpenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit\nor loss. In addition, the amendments enhance interim disclosure requirements, clarify circumstances in which an entity can disclose multiple\nsegment measures of profit or loss, provide new segment disclosure requirements for entities with a single reportable segment, and contain\nother disclosure requirements. The purpose of the amendments is to enable “investors to better understand an entity’s overall\nperformance” and assess “potential future cash flows.” The amendments in ASU 2023-07 are effective for all public entities\nfor fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The Company\nadopted ASU 2023-07 for the year ended December 31, 2024, and the adoption did not have a material impact on its consolidated financial\nstatements and related disclosures.\n\n \n\nIn December 2023, the FASB\nissued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures,” which requires enhanced income tax\ndisclosures, including additional information in the rate reconciliation and income taxes paid by jurisdiction. ASU 2023-09 is\neffective for fiscal years beginning after December 15, 2024. The Company adopted ASU 2023-09 for the year ended December 31,\n2025, and the adoption did not have a material impact on its consolidated financial statements and related disclosures.\n\n \n\nRecent Accounting Pronouncements Pending Adoption\n\n  \n\nIn November 2024, the FASB\nissued ASU 2024-03, “Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40),”\nwhich is intended to improve disclosures about a public business entity’s expenses and provide more detailed information about the\nnature of expenses included in commonly presented expense captions, such as cost of revenues and selling, general and administrative expenses.\nThe amendments require entities to disclose, in the notes to the financial statements, specified information about certain expense categories,\nincluding employee compensation, depreciation, and amortization, within relevant income statement captions. The amendments also require\ntabular disclosures of such disaggregated expense information, as well as qualitative descriptions of the remaining amounts not separately\ndisaggregated.\n\n \n\nIn January 2025, the FASB\nissued ASU 2025-01, which clarifies the effective date of ASU 2024-03. As clarified, the amendments are effective for annual reporting\nperiods beginning after December 15, 2026, and interim reporting periods within annual reporting periods beginning after December 15,\n2027. Early adoption is permitted. The Company is currently evaluating the impact that the adoption of ASU 2024-03 will have on its consolidated\nfinancial statements and related disclosures.\n\n \n\nThe Company does not believe\nthat any other recently issued but not yet effective authoritative guidance, if adopted currently, would have a material impact on its\nconsolidated financial statements or related disclosures.\n\n \n\nF-17\n\n \n\n \n\n**Reclassification**\n\n** **\n\nCertain prior year amounts\nhave been reclassified to conform to the current year presentation. Specifically, offering costs of $699,499 previously presented within\noperating activities in the consolidated statement of cash flows for the year ended December 31, 2024 have been reclassified to financing\nactivities to conform to the current year presentation. This reclassification had no impact on net income or total cash flows.\n\n \n\n**NOTE 3 — ACCOUNTS RECEIVABLE**\n\n \n\nAccounts receivable, net\nconsisted of the following as of December 31, 2025 and 2024:\n\n \n\n  \nDecember 31,\n2025  \nDecember 31,\n2024 \n\nAccounts receivable, gross \n$109,968  \n$18,160 \n\nLess: allowance for credit losses \n \n—\n  \n \n—\n \n\nAccounts receivable \n$109,968  \n$18,160 \n\n  \n\n**NOTE 4 — PROPERTY AND EQUIPMENT,\nNET**\n\n \n\nProperty and equipment,\nnet consisted of the following as of December 31, 2025 and 2024:\n\n \n\n  \nDecember 31,\n2025  \nDecember 31,\n2024 \n\nFurniture and fixtures \n$222,325  \n$5,325 \n\nOffice equipment \n 2,238  \n 2,238 \n\nVehicles \n 88,028  \n 88,028 \n\nLeasehold improvements \n 86,650  \n \n—\n \n\nTotal \n 399,241  \n 95,591 \n\nLess: accumulated depreciation \n (63,701) \n (24,820)\n\nProperty and equipment, net \n$335,540  \n$70,771 \n\n \n\nFor the years ended December\n31, 2025 and 2024, depreciation expense amounted to $38,881 and $18,762, respectively.\n\n \n\nF-18\n\n \n\n \n\n**NOTE 5 — INTANGIBLE ASSETS, NET**\n\n \n\nIntangible assets, net consisted\nof the following as of December 31, 2025 and 2024:\n\n \n\n  \nDecember 31,\n2025  \nDecember 31,\n2024 \n\nInternally developed software \n$570,000  \n$\n—\n \n\nTrademarks \n 2,874  \n 1,449 \n\nTotal \n 572,874  \n 1,449 \n\nLess: accumulated amortization \n (8,121) \n \n—\n \n\nIntangible assets, net \n$564,753  \n$1,449 \n\n \n\nIn December 2025, the Company\nplaced into service internally developed software related to its AI-driven real estate platform, including the Linkhome website and the\nLinkhome AI mobile application. The Company capitalized $570,000 of total development costs associated with the platform and began amortization\nwhen the software was placed into service on December 5, 2025.\n\n \n\nThe internally developed\nsoftware is amortized using the straight-line method over its estimated useful life of five years. Amortization expense related to the\ninternally developed software for the year ended December 31, 2025 was $8,121. No amortization expense was recognized during the year\nended December 31, 2024.\n\n \n\nThe following table presents\nthe estimated future amortization expense related to finite-lived intangible assets as of December 31, 2025:\n\n \n\nYear Ended December 31, \nAmount \n\n2026 \n$114,000 \n\n2027 \n 114,000 \n\n2028 \n 114,000 \n\n2029 \n 114,000 \n\n2030 \n 105,879 \n\nTotal \n$561,879 \n\n \n\nTrademarks are considered\nindefinite-lived intangible assets and are not amortized but are evaluated for impairment annually or more frequently if events or changes\nin circumstances indicate that the asset may be impaired.\n\n \n\n**NOTE 6 — LONG-TERM PREPAID EXPENSES, NET**\n\n \n\nLong-term prepaid expenses\nconsist of advance payments for services to be received beyond one year.\n\n \n\nIn July 2025, the Company\nentered into a financing advisory agreement with a third-party advisor for a five-year term. Under the agreement, the Company made a one-time\nprepaid advisory fee of $675,000. The prepaid advisory fee is being amortized on a straight-line basis over the contractual service period\nand recognized as general and administrative expense in the consolidated statements of income. The unamortized balance of the prepaid\nadvisory fee was $617,625 as of December 31, 2025.\n\n \n\n**NOTE 7 — OTHER CURRENT LIABILITIES**\n\n \n\nOther current liabilities consisted\nof the following as of December 31, 2025 and 2024:\n\n \n\n  \nDecember 31,\n2025  \nDecember 31,\n2024 \n\nPayroll and payroll tax payable \n$6,157  \n$4,659 \n\nFederal income tax payable \n 229,483  \n 204,762 \n\nState income tax payable \n 70,655  \n 105,976 \n\nCredit card payable \n 11,030  \n 10,726 \n\nAccrued expenses \n 50,614  \n 502,942 \n\nTenant-contributed emergency reserve \n 2,500  \n 1,000 \n\nOther payable \n 1,500,085  \n \n—\n \n\nTotal other current liabilities \n$1,870,524  \n$830,065 \n\n \n\nAs of December 31, 2025,\naccrued expenses totaled $50,614, consisting primarily of legal fees of $32,500 and miscellaneous expenses of $18,114. As of December\n31, 2024, accrued expenses totaled $502,942, consisting of legal fees of $450,000, audit fees of $12,000, and miscellaneous expenses of\n$40,942.\n\n \n\nIn December 2025, the Company\nreceived $1,500,085 from a third party in connection with a proposed joint real estate investment. The funds were intended to be used\ntoward the acquisition of a property for investment purposes. The transaction was cancelled on December 31, 2025, and the Company recognized\na liability for the full amount as of December 31, 2025, which is included in other current liabilities. The amount was repaid in full\non January 2, 2026.\n\n \n\nF-19\n\n \n\n \n\n**NOTE 8 — AUTO LOAN PAYABLE**\n\n \n\nOn September 3, 2023, the\nCompany entered into a loan agreement with an unrelated third party for acquiring a vehicle. The auto loan, in the form of a promissory\nnote, matures on September 18, 2029 and bears interest at a rate of 6.34% per annum, payable monthly beginning October 18, 2023. For the\nyears ended December 31, 2025 and 2024, interest expense related to this loan amounted to $2,527 and $3,021, respectively.\n\n \n\n**NOTE 9 — LEASE**\n\n \n\nThe Company previously leased\noffice space in Irvine, California under a lease agreement entered into on July 31, 2023 with a lease term of 24 months, commencing on\nSeptember 1, 2023 and expiring on August 31, 2025. The initial monthly rental payment was $3,708 from September 1, 2023 to August 31,\n2024, with an annual 3.85% increase to $3,850 beginning on September 1, 2024.\n\n \n\nIn August 2025, the Company\nentered into a sublease agreement for office space located at 17901 Von Karman Avenue in Irvine, California with a lease term of approximately\n42 months, commencing on September 1, 2025 and expiring on February 28, 2029. The monthly base rent under the sublease is $11,084.80.\n\n \n\nIn July and August 2025,\nthe Company entered into several operating lease arrangements related to technology infrastructure and digital assets used in its operations,\nincluding AI computing servers, database and content delivery network services, and the domain name “Linkhome.ai.” These leases\ngenerally have contractual terms ranging from 10 to 20 years. Certain of these leases required upfront payments at the commencement of\nthe lease term. As a result, the Company recognized right-of-use assets associated with the prepaid lease payments, which are recognized\nas lease expense over the respective lease terms.\n\n \n\nThe following tables present\nthe Company’s operating lease costs, lease components, remaining lease term and discount rate:\n\n \n\n  \nYear Ended\nDecember 31,\n\n2025  \nYear Ended\nDecember 31,\n\n2024 \n\nOperating lease costs \n$108,570  \n$45,347 \n\n \n\n  \nDecember 31,\n2025  \nDecember 31,\n2024 \n\nOperating lease right-of-use assets \n$1,265,993  \n$29,410 \n\nOperating lease liabilities – current \n$109,711  \n$29,980 \n\nOperating lease liabilities – non-current \n 266,282  \n \n—\n \n\nTotal operating lease liabilities \n$375,993  \n$29,980 \n\n \n\n   December 31,\n2025 \n\nRemaining lease term (years)   3.16 \n\nDiscount rate   7.38%\n\n \n\nThe following table is a\nschedule, by years, of the minimum lease payments as of December 31, 2025:\n\n \n\nYear Ended December 31, \nOperating\nLease\nLiabilities \n\n2026 \n$133,018 \n\n2027 \n 133,018 \n\n2028 \n 133,018 \n\n2029 \n 22,168 \n\nTotal lease payments \n 421,222 \n\nLess: imputed interest \n (45,229)\n\nPresent value of lease liabilities \n$375,993 \n\n** **\n\nF-20\n\n \n\n** **\n\n**NOTE 10 — INCOME TAXES**\n\n \n\nLinkhome Holdings was incorporated\nin the State of Nevada in November 2023 and is subject to a 21% corporate federal income tax rate. There is no state income\ntax in Nevada. Linkhome Holdings serves as a holding company for Linkhome Realty.\n\n \n\nEffective July 13, 2021,\nLinkhome Realty elected to be taxed as an S-corporation, a pass-through entity, for which the income, losses, deductions, and credits\nflow through to the shareholders of the Company for federal tax purposes. The California state annual income tax for S-corporation is\nthe greater of 1.5% of the corporation’s net income or $800. Effective January 1, 2024, Linkhome Realty’s tax status\nchanged to C-corporation, subject to a 21% corporate federal income tax rate and an 8.84% California state income tax rate.\n\n \n\nEffective for the tax year\nbeginning January 1, 2024, and continuing thereafter unless revoked, Linkhome Holdings and Linkhome Realty have elected to file a consolidated\nfederal income tax return. As a result, Linkhome Holdings’ net operating losses (“NOLs”) can be used to offset Linkhome\nRealty’s taxable income, reducing the Company’s overall tax liability.\n\n \n\nThe Company’s provision\nfor income taxes consisted of the following:\n\n \n\n  \nYear Ended\nDecember 31,\n2025  \nYear Ended\nDecember 31,\n2024 \n\nCurrent: \n   \n  \n\nFederal income tax expense \n$22,865  \n$207,469 \n\nState income tax expense \n 30,407  \n 101,883 \n\nDeferred: \n    \n   \n\nFederal income tax benefit \n (557) \n \n—\n \n\nState income tax benefit \n (185) \n \n—\n \n\nAdjustments related to prior-year tax returns \n (1,197) \n \n—\n \n\nTotal income tax expense \n$51,333  \n$309,352 \n\n \n\nThe following tables reconciled\nthe federal statutory income tax rate to the Company’s effective tax rate for the years ended December 31, 2025 and 2024:\n\n \n\n  \nYear Ended\nDecember 31,\n2025  \nYear Ended\nDecember 31,\n2024 \n\nFederal statutory income tax rate \n 21.00% \n 21.00%\n\nState statutory income tax rate, net of federal benefit \n 18.88% \n 7.40%\n\nPermanent difference (non-deductible expenses) \n 1.74% \n 0.04%\n\nPrior-year return-to-provision adjustment \n (0.95)% \n \n—\n \n\nEffective tax rate \n 40.67% \n 28.44%\n\n \n\nF-21\n\n \n\n \n\nAs of December 31, 2025 and\n2024, the net deferred tax assets consisted of the following:\n\n \n\n  \nDecember 31,\n2025  \nDecember 31,\n2024 \n\nDeferred tax assets: \n   \n  \n\nCapital loss carryforward \n$742  \n$\n         —\n \n\nLess: valuation allowance \n \n        —\n  \n \n—\n \n\nDeferred tax assets, net \n$742  \n$\n—\n \n\n \n\nThe Company evaluates its\nvaluation allowance requirements at the end of each reporting period by reviewing all available evidence, both positive and negative,\nand assessing whether, based on the weight of that evidence, a valuation allowance is needed. As of December 31, 2025, the Company had\ndeferred tax assets of $742 related to capital loss carryforwards generated from realized losses on trading securities. Management evaluated\nthe available evidence regarding the realizability of this deferred tax asset and concluded that a valuation allowance was not required\nas of December 31, 2025.\n\n \n\n**NOTE 11 — RELATED PARTY TRANSACTIONS**\n\n \n\nNet Revenues — Related Party\n\n \n\nName of Related Party  Nature  Relationship  Year Ended\nDecember 31,\n2025   Year Ended\nDecember 31,\n2024 \n\nHaiyan Ma  Revenue from property purchases and sales through Cash Offer  The Company’s shareholder  $\n—\n   $2,940,544 \n\nHaiyan Ma  Real estate service revenue – real estate agency commission  The Company’s shareholder   \n—\n    62,650 \n\nHaiyan Ma  Real estate service revenue – home renovation service  The Company’s shareholder   \n—\n    53,012 \n\nNa Li  Revenue from property purchases and sales through Cash Offer  Chief Financial Officer and Director   \n—\n    1,670,000 \n\nNa Li  Real estate service revenue – home renovation service  Chief Financial Officer and Director   \n—\n    64,500 \n\nNa Li  Real estate service revenue – real estate agency commission  Chief Financial Officer and Director   97,560    \n—\n \n\nZhen Qin & Na Li  Real estate service revenue – real estate agency commission  Zhen Qin: The Company’s major shareholder, Chairman of the Board and Chief Executive Officer; Na Li: Chief Financial Officer and Director; Zhen Qin and Na Li are spouses   \n—\n    50,000 \n\nTwo minority shareholders  Real estate service revenue – real estate agency commission  The Company’s shareholders with less than 1% ownership for each   \n—\n    15,550 \n\nOne minority shareholder  Real estate service revenue – property management service  The Company’s shareholder with less than 1% ownership   \n—\n    1,800 \n\nTotal        $97,560   $4,858,056 \n\n \n\nF-22\n\n \n\n \n\nFor the year ended December\n31, 2025, the Company provided real estate agency services to Na Li, assisting with the sale of one property. The Company earned $126,000\nin real estate agency commission from Na Li but paid a referral fee of $28,440 to Haiyan Ma for introducing the buyer, resulting in net\nrevenue of $97,560 recognized by the Company.\n\n \n\nFor the year ended December\n31, 2024, the Company purchased three properties in cash for $2,884,882 from unrelated parties under its name and subsequently sold them\nto Haiyan Ma for $2,940,544.\n\n \n\nFor the year ended December\n31, 2024, the Company provided real estate agency services to Haiyan Ma, assisting with the sale of two properties and the purchase of\none property, for which the Company earned a total of $62,650 in real estate agency commission.\n\n \n\nFor the year ended December\n31, 2024, the Company provided home renovation services to Haiyan Ma on three home renovation projects, for which the Company earned $53,012\nin home renovation service revenue and incurred $43,332 in renovation costs.\n\n \n\nFor the year ended December\n31, 2024, the Company purchased a property in cash for $1,425,930 from Haiyan Ma under its name and subsequently sold it to Na Li for\n$1,670,000.\n\n \n\nFor the year ended December\n31, 2024, the Company provided home renovation services to Na Li on four home renovation projects, for which the Company earned $64,500\nin home renovation service revenue and incurred $56,769 in renovation costs.\n\n \n\nFor the year ended December\n31, 2024, the Company provided real estate agency services to Zhen Qin and Na Li, assisting with the purchase of a property, for which\nthe Company earned $50,000 in real estate agency commission.\n\n \n\nFor the year ended December\n31, 2024, the Company provided real estate agency services to two minority shareholders, assisting one shareholder with selling a property\nand the other shareholder with purchasing a property, for which the Company earned real estate agency commission of $15,550 in total.\n\n \n\nFor the year ended December\n31, 2024, the Company provided tenant placement services to a minority shareholder, assisting with securing a rental property, for which\nthe Company earned $1,800 in property management service revenue.\n\n \n\nCost of Revenues — Related\nParty\n\n \n\n** **\n\n**Name of Related Party**\n  Nature  Relationship  Year Ended\nDecember 31,\n2025   Year Ended\nDecember 31,\n2024 \n\nHaiyan Ma  Cost of property purchases and sales through Cash Offer  The Company’s shareholder  $\n—\n   $1,420,000 \n\nNa Li  Cost of real estate services – commission expense  Chief Financial Officer and Director   45,000    \n—\n \n\nTotal        $45,000   $1,420,000 \n\n \n\nFor the year ended December\n31, 2025, the Company incurred commission expenses of $45,000 paid to Na Li in connection with real estate transactions. This amount was\nrecorded in cost of revenues.\n\n \n\nFor the year ended December\n31, 2024, the Company purchased a property in cash for $1,425,930 from Haiyan Ma, which included $1,420,000 paid to Haiyan Ma\nas the total consideration and $5,930 in title charges, escrow charges, and other related costs. The Company subsequently sold the\nproperty to Na Li for $1,670,000. The total purchase cost of $1,425,930 was recorded as cost of revenues, with $1,420,000 specifically\nidentified as a related party transaction.\n\n \n\nF-23\n\n \n\n \n\nDue to Related Party\n\n \n\n**Name of Related Party**   **Nature**   **Relationship**   **December 31,\n2025**     **December 31,\n2024**  \n\nZhen Qin   Due on demand, non-interest bearing   The Company’s major shareholder, Chairman of the Board and Chief Executive Officer   $ —     $ 55,000  \n\nTotal           $     —     $ 55,000  \n\n \n\nOn May 1, 2024, Zhen\nQin lent $530,000 to the Company to support its operational needs. As of December 31, 2025, the Company had fully repaid the outstanding\nbalance to Zhen Qin, resulting in no amount due to the related party. As of December 31, 2024, the Company had repaid $475,000 to\nZhen Qin, leaving an outstanding balance of $55,000.\n\n \n\n**NOTE 12 — STOCKHOLDERS’ EQUITY**\n\n \n\nOn June 1, 2023, Linkhome\nRealty entered into an Angel Investment Agreement with an angel investor to issue 1,800,000 common shares of Linkhome Realty\nat $0.001 per share for total proceeds of $300,000. Linkhome Realty received proceeds in November 2023. Following the reorganization\nfinalized on December 1, 2023, the $300,000 investment was acknowledged as part of the initial capital contribution, making\nthe angel investor become one of the initial shareholders of Linkhome Holdings.\n\n \n\nLinkhome Holdings was incorporated\nin the State of Nevada on November 6, 2023. The authorized number of preferred shares is 1,000,000 shares with $0.001 par value; no preferred\nshares were issued or outstanding as of December 31, 2025 and 2024. The authorized number of common shares is 100,000,000 shares with\n$0.001 par value. As of December 31, 2025 and 2024, the Company had 16,230,000 and 14,505,000 common shares issued and outstanding, respectively,\nincluding 1,800,000 shares issued to the angel investor under the reorganization described above.\n\n \n\nIn July 2025, the Company completed its initial public offering of\n1,725,000 shares of common stock (including the full exercise of the over-allotment option) at a public offering price of $4.00 per share.\nThe offering closed on July 25, 2025, and the Company received gross proceeds of $6,900,000. Underwriting discounts and offering expenses\ntotaling $697,000 were deducted from the gross proceeds at closing, resulting in net proceeds of $6,203,000 received by the Company. 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