Company: RMSGW
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001641172-25-021609
Chunk: 75

Company: Real Messenger Corp
Filing Date: 2025-07-31
Form: 20-F
Item: Item 5
Chunk 75
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 31, 2024. The increase was primarily due to an increase of $0.3 million staff cost on newly
recruited administrative staff, including financial controller, chief of staff and accounting officer.

Research
and development expenses

Our
research and development expenses increased by approximately $0.5 million, or 57.0% from $0.9 million for the year ended March 31, 2023
to $1.5 million for the year ended March 31, 2024. The increase was primarily due to (i) an increase of $0.4 million on recruitment of
senior research and development officer and data scientist, and (ii) an increase of $0.1 million on cloud service for storage expansion
and data processing requirement.

Net
loss

As
a result of the foregoing, our net loss was approximately $4.9 million and $4.3 million for the years ended March 31, 2024 and 2023,
respectively.

  53  

Discussion
of Certain Balance Sheet Items

The
following table sets forth selected information from our consolidated balance sheets as of the date indicated. This information should
be read together with our consolidated financial statements and related notes included elsewhere in this 20-F.

                                                            As of March 31,                                          
                                                            2025                                2024                 
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  ASSETS                                                                                                             
  Current assets                                                                                                     
  Cash and cash equivalents                                 $                    2,575,225      $           597,160  
  Prepaid expenses and other current assets                                        502,528                  649,080  
  Due from a related company                                                       714,527                        -  
  Deferred offering costs                                                                -                  376,081  
  Total current assets                                                           3,792,280                1,622,321  
  Non-current assets                                                                                                 
  Property and equipment, net                                                       30,078                   45,670  
  Right-of-use assets, net                                                         228,439                        -  
  Total non-current assets                                                         258,517                   45,670  
  TOTAL ASSETS                                              $                    4,050,797      $         1,667,991  
  LIABILITIES AND SHAREHOLDERS’ EQUITY (DEFICIT)                                                                     
  Current liabilities                                                                                                
  Due to related parties - current                          $                       37,