New Momentum Corporation

What they do

The company operates an online ticketing platform called Gagfare.com that lets individuals and agencies search, book and issue flight tickets, and it markets a 'Book Now, Pay Later' model for reserving flights in advance. Nemo Holding, a BVI corporation incorporated in April 2020, became a wholly owned subsidiary through a July 2020 share exchange that was accounted for as a reverse acquisition. The company reported that it ceased ticket sales from September 2023, and its platform is described as undergoing an upgrade estimated to be done by the end of 2025. Its principal administrative office is in Singapore.

Revenue drivers

• Gagfare.com ticketing platform — Search, booking and issuance of flight tickets for individuals and agencies; this is the company's only described operating business, and it generated just $6 of booking-fee revenue in fiscal 2024 versus $182,452 in 2023.
• Book Now, Pay Later travel bookings — A stated business model to let travelers secure fares and reserve flights ahead of time; no separate revenue figure for this offering is disclosed in the excerpts.
• Other income (non-operating) — Government subsidies, bank interest, a convertible-note interest waiver and a $47,832 gain on disposal of subsidiaries in the first nine months of 2025 have recently exceeded operating revenue, which was zero in the same period.

Recent performance

Annual revenue collapsed from $237,980 in 2020 to $6 in 2024, and the company reported $0 revenue for each of the last four quarters through September 30, 2025. Net loss narrowed to $142,880 in 2024 from $403,933 in 2023, and the nine months ended September 30, 2025 produced a net loss of $4,579 versus $68,026 a year earlier. The third quarter of 2025 alone showed net income of $29,072, driven largely by $49,754 of other income that included a $47,832 gain on disposal of subsidiaries, against operating expenses of $20,682. At September 30, 2025, total assets were $10,812, total liabilities were $738,146 and shareholders' equity was negative $727,334, with $4,280 of cash.

Strategy

Management states it plans to raise additional funds through debt or equity offerings to fund the business plan and reach profitable operations, while acknowledging there is no guarantee it can raise capital. It also says continued operations depend on director support and continuing financial support from shareholders or other capital sources in the next twelve months. The company estimates roughly $150,000 of legal, accounting, website marketing and administrative expenditures over the next twelve months. The Gagfare platform is described as being upgraded, with completion estimated by the end of 2025. The company changed its accountants effective May 2, 2025.

Risks

• Going concern — The company has little revenue and recurring operating losses, and its auditors expressed substantial doubt about its ability to continue as a going concern.
• Negative equity and working capital deficit — At September 30, 2025, total liabilities were $738,146 against total assets of $10,812 and shareholders' equity of negative $727,334.
• No revenue since September 2023 — Ticket sales ceased in September 2023, and the company reported $0 revenue in fiscal 2025 quarters with the platform upgrade still pending.
• Dependence on external financing — Continued operations depend on completing equity or debt financings or generating profitable operations, and management says such financings may not be available on reasonable terms.

Outlook

Management says it plans to raise additional funds through debt or equity offerings, but states there is no guarantee it will be able to raise capital through this or any other offering. It estimates about $150,000 of expenditures over the next twelve months and says continuation as a going concern depends on improved profitability and continuing support from shareholders or other capital sources. The Gagfare platform upgrade is estimated to be done by the end of 2025, with no revenue guidance provided in the excerpts.