New Momentum Corporation
0.0004+0.00 (+0%)
Oct 29, 4:00:00 PM EDT · OTC Markets OTCPK · NNAX · USD
Key Stats
Market Cap
330.35KP/E (TTM)
-Basic EPS (TTM)
0.00Dividend Yield
0%Recent Filings
10-Q
Q2 FY2025 results
New Momentum Corporation posted a narrower net loss of $17,831 for Q2 ended June 30, 2025, down from $19,943 a year earlier, while operating expenses dropped 35% y/y to $21,040 amid ceased ticket sales since September 2023. No revenue emerged in the quarter, but government subsidies provided $3,208 in other income, trimming the operating loss to $21,040. Cash held steady at $7,833, propped by $28,713 in director and shareholder advances that offset $34,001 in operating outflows. Shareholders' deficit widened slightly to $750,321. Yet losses persist. The going concern hinges on funding.
10-Q
Q1 FY2025 results
New Momentum Corporation posted a Q1 FY2025 net loss of $15,820, narrower than the $17,623 loss a year earlier, while revenue evaporated to zero from $6 after halting ticket sales in September 2023. Operating expenses dropped 45% year-over-year to $15,820 (derived), mainly from slashing accounting fees and rent, now covered free by the director. Cash dwindled to $6,227 amid $12,440 in operating outflows, propped up by $10,001 in director and shareholder advances that swelled liabilities to $747,060 against $10,115 in assets. Free cash flow isn't disclosed in the 10-Q. The company leans on related-party funding. Yet going concern doubts linger. Competition squeezes travel platforms.
8-K
Auditor resignation amid doubts
New Momentum Corporation's board accepted the resignation of auditor J&S Associate PLT on April 29, 2025, effective immediately, amid ongoing going concern doubts from net current liabilities of $721,979 as of December 31, 2024. No disagreements or reportable events marred the prior audits for 2023 and 2024. The company swiftly engaged Aloba, Awomolo & Partners to audit its 2025 financials. This switch underscores persistent financial strain.
10-K
FY2024 results
New Momentum Corporation's FY2024 revenue plummeted 99.9% y/y to $6 from $182,452 in 2023, reflecting the halt in ticket sales from September 2023 as the Gagfare platform undergoes upgrades slated for completion by year-end 2025; this near-total shutdown drove a narrower net loss of $142,880, down 65.6% from $403,933, thanks to slashed operating expenses of $157,199 versus $304,309 amid reduced legal and professional fees. Q4 2024 showed no discernible momentum, with nominal booking fees as the sole activity and cash draining to $7,812 after $96,257 in operating outflows, offset by $91,223 in director advances. Liquidity remains precarious, with total liabilities at $733,680 and no dividends or buybacks, while convertible notes fully converted into 305 million shares, diluting ownership. Platform upgrades could spark revival, but going concern doubts linger. Declines in the travel industry could further stall quarterly progress.
10-Q
Q3 FY2024 results
New Momentum Corporation's Q3 FY2024 results show revenue dropping to zero from $25,306 y/y, with gross profit vanishing alongside, while operating expenses fell 16% y/y to $32,335, trimming the net loss to $30,460 from $66,640. For the nine months, revenue plunged 100% y/y to a nominal $6, yet the net loss narrowed sharply to $68,026 from $238,747, thanks to $17,499 in government subsidies and waived interest on converted notes. Cash dwindled to $9,853 amid $64,587 operating outflows, offset by $60,933 in director and shareholder advances; shareholders' deficit eased slightly to $646,465. Convertible notes cleared fully via stock issuance. No non-GAAP metrics disclosed in the 10-Q. Competition in travel booking squeezes margins further.
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