Company: JOCM
Filing Date: 2025-05-05
Form Type: 10-K
Source: 0001641172-25-008460
Chunk: 407

Company: JOCOM HOLDINGS CORP.
Filing Date: 2025-05-05
Form: 10-K
Item: Item 7
Chunk 407
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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.

10

Net loss per share

The Company calculates net loss per share in accordance
with ASC Topic 260, “Earnings per Share.” Basic loss per share is computed by dividing the net loss by the weighted-average
number of common shares outstanding during the year. Diluted income per share is computed similar to basic loss per share except that
the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common
stock equivalents had been issued and if the additional common shares were dilutive.

Foreign currencies translation

Transactions denominated in currencies other than
the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction.
Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency
using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the statements of operations.

The reporting currency of the Company is United States
Dollars (“US$”). The Company’s subsidiary in Labuan maintains its books and record in United States Dollars (“US$”)
respectively, and Ringgits Malaysia (“MYR”) is functional currency as being the primary currency of the economic environment
in which the entity operates.

In general, for consolidation purposes, assets and
liabilities of its subsidiary whose functional currency is not the US$ are translated into US$, in accordance with ASC Topic 830-30, “Translation
of Financial Statement”, using the exchange rate on the balance sheet date. Revenues and expenses are translated at average
rates prevailing during the year. The gains and losses resulting from translation of financial statements of foreign subsidiary are recorded
as a separate component of accumulated other comprehensive income within the statement of stockholders’ equity.

Translation of amounts from MYR into US$1 has been
made at the following exchange