Company: RMSGW
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001641172-25-021609
Chunk: 78

Company: Real Messenger Corp
Filing Date: 2025-07-31
Form: 20-F
Item: Item 5
Chunk 78
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 continuous
losses from operations since its inception and reported its accumulated deficit of $20 million at March 31, 2025. For the year
ended March 31, 2025, the Company still did not generate any revenues from the launch of its online platform.

  55  

Our
ability to continue as a going concern is dependent upon management’s ability to successfully execute its business plans
including, generating revenue, controlling operating costs and expenses to achieve positive operating cash flows, and securing
funding from external sources to support positive financing cash flows. As of March 31, 2025, our bank balance was $2.6 million,
which can fully cover the current liabilities of $0.2 million.

On
October 4, 2023, we completed a private placement of convertible promissory notes in an aggregate principal amount of $5 million
with three investors, Edinburgh DH Holdings Limited, Fantastic Global Venture Limited, and Mercatus Group LLC. We promised to pay
the holders of the convertible promissory notes with simple interest on the outstanding principal amount at the rate of 3% per
annum. 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, we issued a convertible promissory note in the original principal amount of $4.5 million to TKO Investment Limited. On July
9, 2024, we issued a convertible promissory note in the original principal amount of $2.5 million to Compass AI Venture Incorporation Limited.
Both convertible promissory notes are interest-free and the principal shall be due and payable on July 31, 2025. The Company received
total cash proceeds of $7 million from issuance of above convertible promissory notes.

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

We also intend to continue
to raise additional capital through private placements of debt and equity securities, but there can be no assurance that these funds will
be available on terms acceptable to us, or will be sufficient to enable us to fully complete the development activities or sustain operations