Company: JOCM
Filing Date: 2025-05-05
Form Type: 10-K
Source: 0001641172-25-008460
Chunk: 300

Company: JOCOM HOLDINGS CORP.
Filing Date: 2025-05-05
Form: 10-K
Item: Item 4
Chunk 300
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 for software technology and software development.

For purposes of consolidated financial statement presentation,
Jocom Holdings Corp. and its subsidiaries are hereinafter referred to as the “Company”.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The accompanying consolidated financial statements
reflect the application of certain significant accounting policies as described in this note and elsewhere in the accompanying consolidated
financial statements and notes.

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 and positive
operating cash flows of $2,280.
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 additional financing, if needed, it may contain undue restrictions
on its operations, in the case of debt financing, or cause substantial dilution for its stock holders, in the case of equity financing.

    F-7

JOCOM HOLDINGS CORP.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED DECEMBER 31, 2024 AND 2023

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

Basis of presentation

The consolidated financial statements for Jocom Holdings
Corp. and its subsidiaries for the year ended December 31, 2024 is prepared in accordance with accounting principles generally accepted
in the United States of America (“US GAAP”) and include the accounts of Jocom Holdings Corp. and its wholly owned subsidiaries,
Jocom Holdings Corp. Intercompany accounts and transactions have been eliminated on consolidation. The Company has adopted December