Company: RMSGW
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001641172-25-021609
Chunk: 116

Company: Real Messenger Corp
Filing Date: 2025-07-31
Form: 20-F
Item: Item 19
Chunk 116
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IESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Expressed
in U. S. dollar, except for the number of shares)

1. ORGANIZATION AND BUSINESS DESCRIPTION

Real
Messenger Corporation (the “ Company”) was incorporated in the Cayman Islands on June 27, 2023 as an exempted company
with limited liability for the purpose of effecting the business combination with Nova Vision Acquisition Corp. (“ Nova
SPAC”) (the “ Business Combination”). Nova SPAC was a blank check company incorporated on March 18, 2021 under the
laws of the British Virgin Islands for the purpose of acquiring, engaging in a share exchange, share reconstruction and
amalgamation, purchasing all or substantially all of the assets of, entering into contractual arrangements, or engaging in any other
similar Business Combination and to serve as the publicly traded parent company of Real Messenger Holdings Limited (“ Real
Messenger”) following the Business Combination. The Business Combination was completed on November 19, 2024.

Real
Messenger was incorporated on September 13, 2021 under the laws of the Cayman Islands (“ Cayman”) as an exempted company with
limited liability.

Real
Messenger owns 100

Real
USA owns 100 100

The
Company and its subsidiaries operate an online marketplace that directly connects real estate agents with home buyers and sellers, through
its social network application namely “ Real”. Currently the Company does not charge fees from real estate agents and has not
generated revenues to date.

The Company and its subsidiaries are hereinafter referred to as (the
“ Company”).

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis
of Presentation

The
accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the
United States of America (“ U. S. GAAP”) and pursuant to the rules and regulations of the Securities Exchange Commission (“ SEC”).

Basis of consolidation

The
consolidated financial statements include the financial statements of the Company and its wholly owned subsidiaries. All intercompany
transactions and balances among the Company and its subsidiaries have been eliminated upon consolidation.

Use
of estimates

The
preparation of financial statements in conformity with U. S. GAAP requires management to make estimates and assumptions that affect the
reported amounts of assets and liabilities, disclosures of contingent assets and liabilities on the date of the financial statements,
and the reported amounts of revenue and expenses during the reporting period. Actual results could differ