Company: JOCM
Filing Date: 2025-05-05
Form Type: 10-K
Source: 0001641172-25-008460
Chunk: 146

Company: JOCOM HOLDINGS CORP.
Filing Date: 2025-05-05
Form: 10-K
Item: Item 1C
Chunk 146
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For the year ended December 31, 2024, the Company
generated other income of $131,674 which $51,301 is from foreign currency variations and $80,373 is from reversal of doubtful debts. For
the year ended December 31, 2023, the Company generated other income of $36,232 from foreign currency variations.

General and Administrative Expenses

General and administrative expenses for the year ended
December 31, 2024 and 2023 amounted to $87,155 and $217,123 respectively.

Net profit/loss 

The net profit for the year ended December 31, 2024
was $68,519 as compared to net loss $156,891 for the year ended December 31, 2023. The decrease in net loss was mainly from the reversal
of over accruals of operating expenses and reversal of provision of doubtful debt. Taking into the loss for the year ended December 31,
2023, the accumulated loss for the Company has decreased from $713,047 to $644,528.

Liquidity and Capital Resources

As of December 31, 2024, we had cash and cash equivalents
of $2,481 as compared to $134 for the year ended December 31, 2023. We expect increased levels of operations going forward will result
in more significant cash flow.

We depend substantially on financing activities to
provide us with the liquidity and capital resources we need to meet our working capital requirements and to make capital investments in
connection with ongoing operations.

Cash Provided by/Used In Operating Activities

For the year ended December 31, 2024 net cash provided
by operating activities was $2,280 whereas for the year ended December 31, 2023, net cash used in operating activities is $115,318. The
cash used in operating activities was mainly for payment of general and administrative expenses.

Cash Provided by/Used In Financing Activities

For the year ended December 31, 2024, there is no
net cash used in/provided by financing activity whereas for the year ended December 31, 2023, net cash provided by financing activities
was $59,409 which $80,500 was proceeds from sale of common stock less lease payments at $21,091.

8

Cash provided by/used in Investing Activity

During the year ended December 31, 2024 and 2023,
there is no net cash used in/provided by investing activity.