Company: RMSGW
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001641172-25-021609
Chunk: 118

Company: Real Messenger Corp
Filing Date: 2025-07-31
Form: 20-F
Item: Item 19
Chunk 118
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, the Company uses its incremental borrowing rate based on the information available at commencement
date in determining the present value of lease payments. The incremental borrowing rate is the rate that the Company would have to pay
to borrow, on a collateralized basis, an amount equal to the lease payments, in a similar economic environment and over a similar term.
The Company depreciated the ROU assets on a straight-line basis from the lease commencement date to the earlier of the end of the useful
life of the ROU assets or the end of the lease term. Lease expense for lease payments is recognized on a straight-line basis over the
lease term.

Property
and equipment

Property
and equipment primarily consist of office equipment, which is stated at cost less accumulated depreciation and impairment losses. Depreciation
is provided using the straight-line method based on the estimated useful life. The estimated useful life of office equipment is five
years

Expenditures
for repairs and maintenance, which do not materially extend the useful lives of the assets, are expensed as incurred. Expenditures for
major renewals and betterments which substantially extend the useful life of assets are capitalized. The cost and related accumulated
depreciation of assets disposed of or retired are removed from the accounts, and any resulting gain or loss is reflected in the consolidated
statements of operations and other comprehensive loss in other income or expenses.

Impairment
of long-lived assets

The
Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an
asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset
to the future undiscounted net cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment
recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. No

Revenue
recognition

The
Company did not generate revenue for the fiscal years ended March 31, 2025, 2024, and 2023. The Company’s revenue is expected to
be primarily derived from subscription fees charged from real estate agents and advertising service fees from users which post advertisements
on the Company’s application.

Research
and development expenses

Research
and development expenses consist primarily of salary and welfare for research and development personnel, software expenses and other
expenses associated with research and development activities. Cost incurred for the internally developed platform and application during
the