New Momentum Corp. Files Q1 2024 10-Q

TL;DR

New Momentum Corp Q1 10-Q filed. Financials and ops update.

AI Summary

New Momentum Corp. filed its 10-Q for the period ending March 31, 2024. The company, formerly Eason Education Kingdom Holdings, Inc., is incorporated in Nevada and based in Singapore. Key financial data points and operational segments are detailed within the filing, including information related to major vendors and single customers.

Why It Matters

This filing provides investors with an update on New Momentum Corp.'s financial performance and operational status for the first quarter of 2024.

Risk Assessment

Risk Level: low — The filing is a standard quarterly report with no immediately apparent significant negative events.

Key Numbers

• 1000000000 — Par Value (Represents the par value of common stock.)
• 825861858 — Outstanding Shares (Number of outstanding shares as of the reporting period.)
• 520428292 — Authorized Shares (Number of authorized shares.)

Key Players & Entities

• New Momentum Corp. (company) — Filer of the 10-Q
• Eason Education Kingdom Holdings, Inc. (company) — Former name of New Momentum Corp.
• 20240331 (date) — End of the reporting period
• 20240520 (date) — Filing date

FAQ

Key Financial Figures

• $0.001 — ere 825,861,858 shares of common stock, $0.001 par value per share, outstanding. NEW
• $1 — 0,000 ordinary shares at par value of US$1 100 % Gagfare Limited Hong Kong T
• $500,000 — agency 500,000 ordinary shares for HK$500,000 100 % Beyond Blue Limited Hong Kon
• $5 — ative service 5 ordinary shares for HK$5 100 % The Company and its subsidiari
• $ — rrency is not US$ are translated into US$, in accordance with ASC Topic 830-30, "

Filing Documents

• nnax_10q.htm (10-Q) — 648KB
• nnax_ex311.htm (EX-31.1) — 10KB
• nnax_ex312.htm (EX-31.2) — 10KB
• nnax_ex321.htm (EX-32.1) — 4KB
• 0001477932-24-003145.txt ( ) — 3518KB
• nnax-20240331.xsd (EX-101.SCH) — 39KB
• nnax-20240331_lab.xml (EX-101.LAB) — 196KB
• nnax-20240331_cal.xml (EX-101.CAL) — 39KB
• nnax-20240331_pre.xml (EX-101.PRE) — 174KB
• nnax-20240331_def.xml (EX-101.DEF) — 90KB
• nnax_10q_htm.xml (XML) — 530KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements. F-1 Unaudited Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023. F-1 Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss for the Three Months Ended March 31, 2024 and 2023 F-2 Unaudited Condensed Consolidated Statements of Cash Flows for the Three Months ended March 31, 2024 and 2023. F-3 Unaudited Condensed Consolidated Statements of Shareholders' Deficit for Three Months ended March 31, 2024 and 2023. F-4 Notes to Unaudited Condensed Consolidated Financial Statements. F-5 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations. 4 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk. 7 Item 4.

Controls and Procedures

Controls and Procedures. 7

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1. Legal Proceedings. 8 Item 1A. Risk Factors. 8 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 8 Item 3. Defaults Upon Senior Securities. 8 Item 4. Mine Safety Disclosures. 8 Item 5. Other Information. 8 Item 6. Exhibits. 9

Signatures

Signatures 10 2 Table of Contents CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q of New Momentum Corporation, a Nevada corporation (the "Company"), contains "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terminology such as "may", "will", "should", "could", "expects", "plans", "intends", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of such terms and other comparable terminology. These forward-looking statements include, without limitation, statements about our market opportunity, our strategies, competition, expected activities and expenditures as we pursue our business plan, and the adequacy of our available cash resources. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Actual results may differ materially from the predictions discussed in these forward-looking statements. The economic environment within which we operate could materially affect our actual results. Additional factors that could materially affect these forward-looking statements and/or predictions include, among other things to product demand, market and customer acceptance, competition, pricing, the exercise of the control over us by Leung Tin Lung David, the Company's sole director and majority shareholder, and development difficulties, as well as general industry and market conditions and growth rates and general economic conditions; and other factors discussed in the Company's filings with the Securities and Exchange Commission ("SEC"). Our management has included projections and estimates in this Form 10-Q, which are based primarily on management's experience in the industry, assessments of our results of operations, discussions and ne

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS. NEW MOMENTUM CORPORATION UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS AS OF MARCH 31, 2024 AND DECEMBER 31, 2023 (Currency expressed in United States Dollars ("US$"), except for number of shares) As of March 31, As of December 31, 202 4 202 3 (Audited) ASSETS Current assets: Cash and cash equivalents $ 17,442 $ 16,776 Accounts receivable 912 906 Deposits, prepayments and other receivables 19,565 19,916 Total current assets 37,919 37,598 Non-current asset: Right-of-use assets 20,035 26,767 TOTAL ASSETS $ 57,954 $ 64,365 LIABILTIES AND SHAREHOLDERS' DEFICIT Current liabilities: Accounts payable $ 9,337 $ 9,208 Accrued liabilities and other payables 144,365 164,639 Amount due to a director 447,625 422,968 Amount due to a shareholder 25,641 24,349 Lease liabilities 23,006 27,435 Convertible promissory note - 73,275 Total current liabilities 649,974 721,874 TOTAL LIABILITIES 649,974 721,874 Commitments and contingencies - - SHAREHOLDERS' DEFICIT Preferred stock, Class A, $ 0.001 par value; 175,000,000 shares authorized; 1 share issued and outstanding as at March 31, 2024 and December 31, 2023 respectively - - Common stock, $ 0.001 par value; 1,000,000,000 shares authorized; 825,861,858 shares and 520,428,292 shares issued and outstanding as at March 31, 2024 and December 31, 2023, respectively 825,862 520,428 Additional paid in capital 4,034,709 4,257,803 Accumulated other comprehensive income (loss) 426 ( 346 ) Accumulated deficit ( 5,453,017 ) ( 5,435,394 ) Shareholders' deficit ( 592,020 ) ( 657,509 ) TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT $ 57,954 $ 64,365 See accompanying notes to unaudited condensed consolidated financial statements. F-1 Table of Contents NEW MOMENTUM CORPORATION UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS FOR THE THREE MONT

View Full Filing

View this 10-Q filing on SEC EDGAR