Company: RMSGW
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001641172-25-021609
Chunk: 77

Company: Real Messenger Corp
Filing Date: 2025-07-31
Form: 20-F
Item: Item 5
Chunk 77
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 made a loan of $575,000                                                                                          
            In March 2024, the sponsor of Nova Vision issued a                                                                                            

Due from a related company

Immediately after giving effect to the
Business Combination, the Sponsor became a shareholder of the Company. In April 2024, the Sponsor issued a promissory note of $69,764
to Real Messenger Corporation. Pursuant to the promissory note, the advances were unsecured, non-interest bearing and Real Messenger Corporation
has the right, but no obligation, to convert the advances, in whole or in part, into the ordinary shares of the Company with a conversion
price of $10.00 per share. As of March 31, 2025 and 2024, the receivable balance due from Sponsor was $714,527 and nil, respectively.

Subsequently, on June 5, 2025, the Company, through Real Messenger exercised
the right to convert all the promissory notes by receiving 316,004 shares of Class A ordinary share of the Company.

Convertible
promissory notes payable

On
October 4, 2023, we issued convertible promissory notes in an aggregate principal amount of $5,000,000 to three investors, Edinburgh
DH Holdings Limited, Fantastic Global Venture Limited, and Mercatus Group LLC with simple interest on the outstanding principal amount
at 3% per annum and maturity on September 30, 2024. Pursuant to the extension to convertible promissory notes agreement dated July 12,
2024, the due date of the convertible promissory notes was extended to July 31, 2025.

On
June 28, 2024 and July 9, 2024, we further issued convertible promissory notes of $4,500,000 and $2,500,000 to TKO Investments Limited
and Compass AI Venture Incorporation, respectively. These convertible promissory notes were non-interest bearing with maturity on July
31, 2025.

On
November 19, 2024, in connection with the consummation of the Business Combination, we issued an aggregate 1,900,000 Class A
Ordinary Shares to convert all the convertible promissory notes payable with the conversion prices ranging from $5 to $10 per
share.

B.
LIQUIDITY AND CAPITAL RESOURCES

Our consolidated
financial statements have been prepared assuming that the Company will continue as a going concern. We suffered from