Company: JOCM
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011600
Chunk: 12

Company: JOCOM HOLDINGS CORP.
Filing Date: 2025-05-20
Form: 10-Q
Item: Item 1
Chunk 12
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 to the rate reconciliation and income taxes paid. The ASU 2023-09 is effective
for annual reporting periods beginning after December 15, 2024. Early adoption is permitted. The Company is currently evaluating the
impact of this ASU may have on its unaudited condensed consolidated financial statements and related disclosures.

The
Company does not expect that any other recently issued accounting pronouncements will have a significant effect on its condensed consolidated
financial statements.

Accounting
Standards Update 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic
220-40): Disaggregation of Income Statement Expenses:

In
November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses. The new standard requires entities to disclose
additional information about certain expenses, such as purchases of inventory, employee compensation, depreciation, intangible asset
amortization, as well as selling expenses included in commonly presented expense captions on the income statement. The FASB further clarified
the effective date in January 2025 with the issuance of ASU 2025-01, Income Statement – Reporting Comprehensive Income –
Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date. The ASU is effective for fiscal years beginning
after December 15, 2026, and interim periods beginning after December 15, 2027. Companies have the option to apply this guidance either
on a retrospective or prospective basis, and early adoption is permitted.

The
Company is currently evaluating this guidance to determine the impact it may have on its consolidated financial statements and related
disclosures.

    F-10

JOCOM
HOLDINGS CORP.

NOTES
TO CONDENSED FINANCIAL STATEMENTS

FOR
THE THREE MONTHS ENDED MARCH 31, 2025 AND 2024

(Currency
expressed in United States Dollars (“US$”), except for number of shares)

(UNAUDITED)

3.
COMMON STOCK

On
January 8, 2021, the Company issued 100,000 shares of restricted common stock, with a par value of $0.0001 per share, to Ms. Agnes in
consideration of $10. The $10 in proceeds went to the Company to be used as working capital. Ms. Agnes serves as our Chief Financial
Officer, President, Secretary, Treasurer and as member