Company: JOCM
Filing Date: 2025-05-05
Form Type: 10-K
Source: 0001641172-25-008460
Chunk: 611

Company: JOCOM HOLDINGS CORP.
Filing Date: 2025-05-05
Form: 10-K
Item: Item 10
Chunk 611
---
 performing similar functions nor does our Company have a written nominating, compensation or audit committee
charter. Our Directors believes that it is not necessary to have such committees, at this time, because the Director(s) can adequately
perform the functions of such committees.

Audit Committee Financial Expert

Our Board of Directors has determined that we do not
have a board member that qualifies as an “audit committee financial expert” as defined in Item 407(D)(5) of Regulation S-K,
nor do we have a Board member that qualifies as “independent” as the term is used in Item 7(d)(3)(iv)(B) of Schedule 14A under
the Securities Exchange Act of 1934, as amended, and as defined by Rule 4200(a)(14) of the FINRA Rules.

We believe that our Director(s) are capable of analyzing
and evaluating our financial statements and understanding internal controls and procedures for financial reporting. The Director(s) of
our Company does not believe that it is necessary to have an audit committee because management believes that the Board of Directors can
adequately perform the functions of an audit committee. In addition, we believe that retaining an independent Director who would qualify
as an “audit committee financial expert” would be overly costly and burdensome and is not warranted in our circumstances given
the stage of our development and the fact that we have not generated any positive cash flows from operations to date.

Involvement in Certain Legal Proceedings

Our Directors and our Executive officers have not
been involved in any of the following events during the past ten years:

    1.
    bankruptcy petition filed by or against any business of which such person was a general partner or executive officer either at the time of the bankruptcy or within two years prior to that time;
  
    2.
    any conviction in a criminal proceeding or being subject to a pending criminal proceeding (excluding traffic violations and other minor offenses);
  
    3.
    being subject to any order, judgment, or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining, barring, suspending or otherwise limiting his/her involvement in any type of business, securities or banking activities; or
  
    4.
    being found by a court of competent jurisdiction (in a civil action), the Commission or the Commodity Futures Trading Commission to have violated a federal or state securities or commodities law, and the judgment has not been reversed, suspended, or vacated.