Note 1 – Nature of business and organization

Ohmyhome Limited (the “Company”) is a holding company incorporated on July 19, 2022, under the laws of the Cayman Islands. The Company has no substantial operations other than holding all of the outstanding share capital of Ohmyhome (BVI) Limited (“Ohmyhome BVI”) established under the laws of the British Virgin Islands (“BVI”) on July 27, 2022. Ohmyhome BVI has no substantial operations other than holding all of the equity interest of Ohmyhome Pte. Ltd. (“Ohmyhome (S)”), a Singapore company incorporated on June 12, 2015, as well as all the equity interest of Ohmyhome Property Management Pte. Ltd. (“Ohmyhome Property Management (S)”), a Singapore company acquired on Oct 6, 2023.

The Company, through its wholly-owned subsidiary, Ohmyhome (S), and its subsidiaries, provides end-to-end property solutions and services for its customers such as brokerage services and emerging and other services, such as home renovation and furnishing services, listing and research, mortgage referral, legal services and insurance referral services.

On November 30, 2022, the Group completed a reorganization of Ohmyhome (S) under common control of its then existing shareholders, who collectively owned all the equity interests of Ohmyhome (S) prior to the reorganization. Prior to the re-organization, Ohmyhome (S) was directly owned and controlled by Anthill and the Other Existing Shareholders with 57.79% and 42.21% beneficial ownership interest, respectively. As a result of certain share swaps and related issuances by and among, Anthill and the Other Existing Shareholders, the Group, Ohmyhome (BVI) Limited, and Ohmyhome (S) whereby Ohmyhome (S) ultimately became a wholly-owned subsidiary of Ohmyhome (BVI) Limited, and Ohmyhome (BVI) Limited became a wholly owned subsidiary of the Group, and Anthill and the Other Existing Shareholders became the beneficial owners of the Group with percentage ownerships of 57.79% and 42.21%. The Group has accounted for these re-organizations as a transfer of assets between entities under common control in accordance with ASC 805-50-50-3 to 4 because the economic interests of Anthill and the Other Existing Shareholders remained the same immediately before and immediately after the re-organization, as such, the accompanying consolidated financial statements include the results of operations of Ohmyhome (S) for two operating periods in accordance with guidance set forth in ASC 805-50-45-2 to 5. The consolidated financial statements are prepared on the basis as if the reorganization became effective as of the beginning of the first period presented in the accompanying consolidated financial statements of the Group.

On March 23, 2023, the Group completed its initial public offering. In this offering, the Group issued 2,800,000 Ordinary Shares at a price of US$4.00 per share. The Group received gross proceeds in the amount of US$11.2 million before deducting any underwriting discounts or expenses. The Ordinary Shares began trading on March 21, 2023 on the Nasdaq Capital Market under the ticker symbol “OMH.”

On October 6, 2023, Ohmyhome (BVI), a wholly owned subsidiary of the Group, completed the acquisition of 100% of the issued share capital of Ohmyhome Property Management (S) that provides estate management services for residential, commercial and industrial real estate in Singapore. Subsequent to the completion of the acquisition, the company has changed its name from Ohmyhome Property Management (S) (formerly known as Simply Sakal Pte. Ltd.) to Ohmyhome Property Management Pte. Ltd. on November 8, 2023.

On January 23, 2025, Ohmyhome (BVI) Limited, a wholly owned subsidiary of the Group, completed the acquisition of 100% of the issued share capital of Ohmyhome Property Inc., which is principally engaged in the provision of brokerage services to customers in the Philippines.

The accompanying consolidated financial statements reflect the activities of the Group and each of the following entities: