New Momentum Corporation has reported its financial results for the third quarter of 2025, revealing a significant shift in its performance compared to the previous fiscal period. The company recorded no revenue for the three and nine months ended September 30, 2025, a decline from $6 in revenue during the same period in 2024. Despite the absence of revenue, New Momentum achieved a net profit of $29,072 for the third quarter, a notable improvement from a net loss of $30,460 in the prior year. For the nine-month period, the company reported a net loss of $4,579, a substantial reduction from the $68,026 loss recorded in the same timeframe last year.
The financial statements indicate a decrease in total assets, which fell to $10,812,000 as of September 30, 2025, down from $11,701,000 at the end of 2024. Current liabilities increased slightly to $738,146, compared to $733,680 at the end of the previous fiscal year. The company’s shareholders’ deficit also widened to $727,334, reflecting ongoing financial challenges. The filing highlights that the company has been reliant on financial support from its shareholders to continue operations, raising concerns about its ability to sustain itself without additional financing.
Strategically, New Momentum has undergone significant organizational changes, including the disposal of subsidiaries such as Beyond Blue Limited and New Momentum Asia Pte. Ltd. during the nine months ended September 30, 2025. This move is part of a broader strategy to streamline operations and focus on its core business of providing a "Book Now, Pay Later" flight booking service through its Gagfare platform. The company continues to operate in a competitive market, serving over 500 airlines worldwide, although specific user statistics and engagement metrics were not disclosed in the filing.
Operationally, New Momentum's management has indicated that the company is pursuing additional financing to support its operations and future expansion. However, the filing cautions that there is no assurance of success in securing sufficient funds. The company’s ability to continue as a going concern is under scrutiny, given its history of continuous losses and current liabilities exceeding its assets. The management has expressed that the economic environment and market conditions could materially affect future results, emphasizing the need for careful monitoring of financial performance and strategic decisions moving forward.
Looking ahead, New Momentum Corporation remains focused on enhancing its service offerings and exploring opportunities for growth. The management's forward-looking statements suggest an intention to improve operational efficiency and potentially increase market share, although the company acknowledges the inherent risks associated with its business model and market dynamics. As it navigates these challenges, the company will need to secure additional funding and adapt its strategies to ensure long-term viability in the competitive travel service sector.
About New Momentum Corp.
New Momentum Corporation operates an online travel ticketing platform, Gagfare, offering a "book-now-pay-later" flight reservation service. It provides access to global airlines, enabling users to search, book, and secure flight tickets with minimal upfront payment. The company generates revenue from booking fees, ticket issuance margins, and advertising, aiming to expand into broader travel and entertainment booking markets.
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