Company: RMSGW
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001641172-25-021609
Chunk: 129

Company: Real Messenger Corp
Filing Date: 2025-07-31
Form: 20-F
Item: Item 19
Chunk 129
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 (“ Sponsor”) became a shareholder of the Company. In April 2024, the
Sponsor issued a promissory note of $69,764to 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 $10.00per share. As of March 31, 2025 and 2024, the receivable balance due from Sponsor was $714,527and nil,
respectively.

Subsequently, on June 5, 2025, the Company,
through Real Messenger exercised the right to convert all the promissory notes by receiving316,004shares of Class A ordinary share of the Company.

8. PROPERTY AND EQUIPMENT, NET

As
of March 31, 2025 and 2024, property and equipment, net was comprised of the following:

SCHEDULE
OF PROPERTY AND EQUIPMENT

                                      As of March 31,                                        
                                      2025                               2024                
 ─────────────────────────────────────────────────────────────────────────────────────────────
  Office equipment                    $                     110,600      $          109,950  
  Less: accumulated depreciation                           ( 80,522                ( 64,280  
  Total                               $                      30,078      $           45,670  

For
the years ended March 31, 2025, 2024 and 2023, the Company recognized depreciation expenses of $ 15,835 15,707 11,019

9. LEASE

Operating
lease right-of-use (“ ROU”) asset and liabilities are recognized at commencement date based on the present value of lease
payments over the lease term. ROU asset represents the Company’s right to use an underlying asset for the lease term and lease
liabilities represent the Company’s obligation to make lease payments arising from the lease. Generally, the implicit rate of interest
(“discount rate”) in arrangements is not readily determinable and the Company utilizes its incremental borrowing rate in
determining the present value of lease payments. The Company’s incremental borrowing rate is a hypothetical rate based on its understanding
of what its credit rating would be. The operating lease ROU asset includes any lease payments made and excludes lease incentives.

During
the year ended March 31, 2025, the