New Momentum Corporation operates Gagfare.com, an online ticketing platform offering a 'Book Now, Pay Later' service for flights and planning to expand into broader travel and entertainment services.

# Company Overview: New Momentum Corporation

## Business Description
- **Primary Business:** Operates an online ticketing platform called **Gagfare.com** with a focus on providing a “Book Now, Pay Later” travel booking service for flights and expanding into other travel-related services.
- **Main Service:** 
  - Offers a ticketing system for individuals and agencies to search, book, and issue flight tickets.
  - Utilizes multiple global distribution systems (GDS) for flight reservations, allowing users to access and book over 500 airlines worldwide.
  - Provides a “book-now-pay-later” option where travelers can pay a nominal booking fee of **$2.00** to secure up to nine seats on a flight, with full payment due closer to the travel date.
- **Future Expansion Plans:**
  - Upgrade platform estimated to be completed by the end of 2025.
  - Expand into booking other travel products such as travel packages, cruises, trains, buses, hotels, theme parks, sports, and entertainment tickets, creating a comprehensive travel and entertainment booking platform.

## Revenue Model
- **Booking Fees:** 
  - Charges non-refundable $2 booking fee per reservation, which is separate from the ticket fare.
  - The platform may earn margins from ticket issuance transactions.
- **Advertising:** 
  - Offers advertising spots on its web and mobile platforms for travel-related businesses, generating additional income.

## Financial Summary
- **Assets:** 
  - As of December 31, 2024, total assets were approximately **$11,701**.
- **Liabilities:** 
  - Total liabilities as of December 31, 2024, were approximately **$733,680**, mainly from accounts payable, accrued liabilities, and convertible promissory notes.
- **Stockholders’ Equity:** 
  - As of December 31, 2024, shareholders’ deficit was approximately **$721,979**.
- **Revenue & Income:** 
  - **2024 Revenue:** $6 (primarily from bookings) — platform ceased ticket sales in September 2023.
  - **2023 Revenue:** $182,452.
  - **Net Loss 2024:** $142,880.
  - **Net Loss 2023:** $403,933.
- **Customers & Employees:** 
  - **Number of Stakeholders:** Approximately 116 stockholders (as of February 20, 2025).
  - **Employees:** Only 2 officers (including Leung Tin Lung David, the sole director and officer).
  
## Additional Details
- **Ownership & Control:** 
  - Leung Tin Lung David is the controlling stockholder with approximately 8.37% of the common shares outstanding but holds a majority interest in Nemo Holding, the core operating subsidiary.
- **Operations & Location:** 
  - Principal executive office located in Singapore at 150 Cecil Street, with no ownership of physical property.
- **Business Development:** 
  - The platform is undergoing upgrades and plans to facilitate additional travel-related services and expand into broader travel and entertainment markets.
- **Current Status:** 
  - The company is a “smaller reporting company” with limited operating history and has never been profitable, suffering recurring net losses and having significant current liabilities.

New Momentum Corporation is a travel technology company offering an innovative online ticketing platform, Gagfare.com, which features a 'Book Now, Pay Later' service allowing travelers to reserve flights flexibly.


# New Momentum Corporation Overview

## Company Profile
New Momentum Corporation is a travel technology company that primarily operates an online ticketing platform called **Gagfare.com**, which focuses on providing innovative flight reservation options for travelers. The unique selling proposition of Gagfare is its **"Book Now, Pay Later"** service, allowing users to secure flight tickets for a nominal fee upfront and defer the remaining payment until a later date.

### Key Features of Gagfare:
- The platform allows customers to search, book, and issue flight tickets through an easy-to-use web and mobile application interface, enabling access to over **500 airlines** globally.
- Travelers can pay only **$2.00** to secure up to nine flight seats in advance, significantly enhancing flexibility in travel planning.
- The application aims to provide the best available promotional fares by tapping into multiple global distribution systems used by airlines.

## Financial Performance
- **Revenue** for the fiscal year ended December 31, 2023, was **$182,452**, a decrease from **$920,289** in the previous year (2022).
- **Cost of Revenue** was **$179,720** in 2023, leading to a **Gross Profit** of **$2,732**.
- **Total Operating Expenses** were **$304,309** in 2023, which includes general and administrative expenses and legal/professional fees.
- The company reported a **Net Loss** of **$403,933** for the year ending December 31, 2023, compared to a loss of **$188,853** in 2022.

## Customer Base and Operations
- As of the end of December 2023, the company had a **limited customer base** with few customers reported, indicating a need for growth in customer acquisition and retention.
- The exact number of customers has not been disclosed publicly.
- The company has a total of **3 employee officers**, with the majority of operational management centralized under the leadership of Leung Tin Lung David, who serves as the President.

## Additional Insights
- The company's operations have been impacted by the global economic climate, including rising costs and economic uncertainties. 
- There is a substantial **working capital deficit** of **$684,276** as of December 31, 2023, raising concerns about the company's ability to continue as a viable ongoing concern without securing additional funding.
- New Momentum Corporation is also facing challenges in growing its brand and attracting a wider audience amidst competitive pressures in the travel industry.

## Strategic Direction
- The company plans to diversify its offerings and improve market presence through strategic partnerships and investments in technology to enhance customer experience.
- There are future intentions to branch into other areas of travel service offerings, such as travel packages, cruises, and hotel bookings.

**Conclusion:** New Momentum Corporation, while equipped with a unique service offering in the travel industry, currently faces significant financial losses and operational challenges that must be addressed to ensure sustainability and growth.


New Momentum Corp.

10-K / April 15, 2025

10-K / April 17, 2024

10-K / April 15, 2025

Company Overview: New Momentum Corporation

Business Description

Revenue Model

Financial Summary

Additional Details