Company: JOCM
Filing Date: 2025-05-05
Form Type: 10-K
Source: 0001641172-25-008460
Chunk: 13

Company: JOCOM HOLDINGS CORP.
Filing Date: 2025-05-05
Form: 10-K
Item: Item 1
Chunk 13
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 The Company derives its revenue from provision of technical
consultancy on solar power system and consultancy on green energy solution.

9

Income taxes

Income taxes are determined in accordance with the
provisions of ASC Topic 740, “Income Taxes” (“ASC Topic 740”). Under this method, deferred tax assets and
liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts
of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted income
tax rates expected to apply to taxable income in the year in which those temporary differences are expected to be recovered or settled.
Any effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the year that includes the enactment
date.

ASC 740 prescribes a comprehensive model for how companies
should recognize, measure, present, and disclose in their financial statements uncertain tax positions taken or expected to be taken on
a tax return. Under ASC 740, tax positions must initially be recognized in the financial statements when it is more likely than not the
position will be sustained upon examination by the tax authorities. Such tax positions must initially and subsequently be measured as
the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority
assuming full knowledge of the position and relevant facts.

Going Concern

The accompanying financial
statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of
liabilities and commitments in the normal course of business. As reflected in the accompanying financial statements, as of December
31, 2024, the Company suffered an accumulated deficit of $644,528, and having capital deficiency of $68,561. These factors raise
substantial doubt about the Company’s ability to continue as a going concern within one year of the date that the financial
statements are issued. The financial statements do not include any adjustments that might be necessary if the Company is unable to
continue as a going concern.

The Company’s ability to continue as a going
concern is dependent upon improving its profitability and the continuing financial support from its shareholders. Management believes
the existing shareholders or external financing will provide the additional cash to meet the Company’s obligations as they become
due. No assurance can be given that any future financing, if needed, will be available or, if available, that it will be on terms that
are satisfactory to the Company. Even if the Company is able to obtain