By Warren.AI in May 2025 — May 5, 2025

JOCOM HOLDINGS CORP. (JOCM)

Summary of Jocom Holdings Corp. 2024 10-K filling: 1. Business: Jocom Holdings Corp. (OTCQB: JOCM) operates via Malaysian subsidiaries to provide AI-driven data analytics for grocery e-commerce ("JOCOM AI Smart Platform"). Plans include a logistics prediction engine and a mobile commerce platfor...

Jocom Holdings Corp. (OTCQB: JOCM) 2024 10-K Review

In this deep dive, we analyze the Form 10-K annual report for Jocom Holdings Corp. ("JOCM"), a Nevada-registered company providing AI-driven data analytics and mobile commerce solutions for the grocery segment in Malaysia. We walk through the business overview, financial performance, risks, and strategic outlook, then assign an investment score.

Income Statement
Balance Sheet
Cash Flow

Liquidity & Going Concern
Risk Factors
Managements Discussion & Analysis
Outlook & Strategy
Conclusion & Investment Score

1. Business Overview

Jocom Holdings Corp. is a development-stage technology company focusing on:

Data Analytics for Grocery Retail: Through its “JOCOM AI Smart Platform,” JOCM analyzes consumer buying patterns, makes predictive consumption models, and optimizes product placement for grocery retailers and e-commerce operators.
Logistics Predictive Algorithm (In Development): Software to optimize delivery routes and cross-border shipping by integrating real-time traffic and carrier data.
Mobile Commerce Platform (Longer Term): A direct-to-consumer (D2C) mobile commerce solution for Asian groceries, with an integrated AI engine for lead generation, production forecasting, and e-commerce fulfillment.

Key Customers

Jocom MShopping Sdn. Bhd.: Currently JOCMs sole client, a related-party e-commerce operator in Malaysia.

2. Products & Services

JOCOM AI Smart Platform

Software-as-a-Service (SaaS) subscription model.
Analyzes point-of-sale and e-commerce transactions.
Provides dashboards for consumer segmentation, product affinity, and sales forecasting.
Protected by a Malaysian patent (LY2021W02673).

Logistics Prediction Engine (Planned)

Will integrate multiple third-party logistics (3PL) routes—DHL, FedEx, local carriers.
Real-time simulation of delivery routes, factoring fleet availability and traffic conditions.
Cross-border capabilities for Southeast Asia and beyond.

Mobile Commerce Platform (Vision)

A D2C marketplace for rural farmers, specialty producers, and urban consumers.
AI-driven consumer targeting by demographics and buying behavior.
End-to-end order management, payment gateway integration, and loyalty features.

3. Corporate History & Structure

Jan 8, 2021: Incorporated in Nevada, USA.
Apr 15, 2021: Acquired 100% of the equity interests in Jocom Holdings Corp. (Labuan, Malaysia subsidiary) for US$100.
Jun 12, 2024: Acquired JHC Digital Sdn. Bhd. (Kuala Lumpur, Malaysia) for US$2,120.
OTCQB Listing: Began trading on OTCQB under ticker JOCM on July 31, 2024.

Organizational Chart:

Jocom Holdings Corp. (Nevada)
└─ Jocom Holdings Corp. (Labuan, Malaysia)
   └─ JHC Digital Sdn. Bhd. (Kuala Lumpur, Malaysia)

4. Market & Competitive Landscape

Industry: Data analytics, AI, SaaS for grocery and e-commerce.
Geography: Initial focus on Malaysia, potential expansion to ASEAN.
Competition: Digital grocery platforms (RedMart, HappyFresh), regional analytics providers, and in-house IT solutions by large retailers.
Differentiation: Proprietary AI platform, integrated logistics forecasting, planned D2C mobile marketplace.

5. Financial Highlights

Income Statement (2024 vs. 2023)

Metric	2024	2023	Change
Revenue	$24,000	$24,000	0%
Cost of Revenue	$0	$0	0%
Gross Profit	$24,000	$24,000	0%
Other Income	$131,674	$36,232	+263%
• Forex Gain	$51,301	$36,232	+42%
• Doubtful Debt	$80,373	$0	New reversal
G&A Expenses	$87,155	$217,123	-60%
Net Income (Loss)	+$68,519	-$156,891	Turnaround

2024 Net Profit: $68,519, driven by reversal of doubtful-debt expense and lower G&A costs.
2023 Net Loss: $(156,891), high G&A spend and forex impact.

Balance Sheet (12/31/24 vs. 12/31/23)

Metric	12/31/24	12/31/23
Cash & Equivalents	$2,481	$134
Trade Receivables	$0	$0 (net)
Prepaid & Deposits	$5,790	$360
Intangibles (Patent)	$1	$1
Total Assets	$8,272	$496
A/P & Accruals	$69,434	$132,806
Related Party Payables	$26,464	$70,823
Total Liabilities	$76,833	$137,643
Shareholders Deficit	$(68,561)	$(137,147)

Capital Structure: 57.68 M shares outstanding (par $0.0001).
Working Capital: Negative $68K.
Shareholders Deficit: $68,561.

Cash Flow (2024 vs. 2023)

Operating: +$2,280 vs. -$115,318.
Financing: $0 vs. +$59,409 (2023 capital raise).
Investing: $0 for both years.

Key Observation: Cash remains extremely limited at $2.5 K.

6. Liquidity & Going Concern

The Company acknowledges substantial doubt about its ability to continue as a going concern due to:

Cumulative Losses: $644,528 deficit.
Low Cash: $2,481 on hand.
Negative Working Capital.

Managements Plan: Raise capital from shareholders, secure third-party R&D grants, expand paying customer base beyond related party.

7. Risk Factors

Although the filing defers formal Item 1A disclosures, material risks include:

Single-Client Concentration: 100% of revenue from one related party.
Related-Party Transactions: Potential conflicts of interest.
Limited Operating History: No proven product/market fit beyond one client.
Going Concern: Requires urgent capital infusion.
Currency Exposure: Operations in USD/MYR.
Competitive Market: Established regional players in grocery analytics and logistics.

8. Managements Discussion & Analysis

2024 vs. 2023 Performance

Flat Revenue: Held at $24K/year, reflecting reliance on one client contract.
Cost Control: G&A down 60% as management trimmed discretionary spend.
Other Income: $131K boost from reversal of overdue receivable.

Capital Needs

Short Term: Raise $100K–$200K to fund R&D and sales.
Medium Term: Secure 2–3 commercial contracts (non-related parties) to validate business model.
Long Term: Roll out logistics engine and mobile commerce platform for subscription fees and transaction revenue.

9. Outlook & Strategy

Short-Term Priorities (6–12 Months)

Fundraising: Equity or convertible debt round to extend runway.
New Customers: Pilot programs with 2–3 grocery retailers in ASEAN.
Product Refinement: Finalize logistics predictive engine MVP.
Cost Management: Keep G&A lean.

Mid-Term Goals (12–24 Months)

Platform Rollout: Launch mobile commerce app for specialty groceries.
Recurring Revenue: Transition from one-off service fees to monthly SaaS subscriptions.
Geographic Expansion: Test cross-border shipments to Singapore and Indonesia.

Long-Term Vision (24+ Months)

Marketplace Network: 500+ grocery merchants, 50K+ consumers.
AI-Driven Logistics Marketplace: Revenue share from 3PL integrations.
Profitability: Target 20–25% gross margins on subscription and transaction fees.

10. Conclusion & Investment Score

JOCM is an early-stage, development-stage venture with a single-customer SaaS model in grocery analytics. The 2024 turnaround to a $68,519 net profit was driven by accounting reversals, not core operations growth. The balance sheet remains fragile, cash is minimal, and the Company needs external capital immediately.

Strengths:

Proprietary AI platform with Malaysian patent.
CEOs domain expertise in IT and e-grocery.
Early proof of concept with related party.

Weaknesses:

Single-client, related-party revenue concentration.
No diversification or independent customer base.
Negative working capital and going concern issues.
Unproven roadmap to mobile commerce and logistics engine monetization.

Investment Score: 2.0 / 10

Jocom Holdings Corp. could be a speculative play for deep-value investors willing to bet on execution, but the high operational and financing risk outweighs early-stage potential at present. Additional paying customers, a successful capital raise, and R&D progress will be pivotal.

Authors Note: Always conduct your own due diligence and consider your risk tolerance before investing.