BioNexus Gene Lab Corp Q2 2025 10-Q Filed

TL;DR

BioNexus Gene Lab Corp Q2 2025 10-Q: Assets $647.9K, Liabilities $304.6K. Equity $343.3K.

AI Summary

BioNexus Gene Lab Corp filed a 10-Q for the period ending June 30, 2025. The company, incorporated in Wyoming, operates in medical laboratories and is based in Kuala Lumpur. Key financial figures for the six months ended June 30, 2025, include total assets of $647,890 and total liabilities of $304,561, resulting in total equity of $343,329. The filing also mentions activities related to investment holding and provision for genomic screening services.

Why It Matters

This filing provides a quarterly update on BioNexus Gene Lab Corp's financial health and operational activities, offering insights into their asset base and liabilities for investors and stakeholders.

Risk Assessment

Risk Level: medium — The company's financial figures are relatively small, and its operational focus on specialized services like genomic screening may indicate higher inherent business risks.

Key Numbers

• $647.9K — Total Assets (As of June 30, 2025, indicating the company's resource base.)
• $304.6K — Total Liabilities (As of June 30, 2025, showing the company's obligations.)
• $343.3K — Total Equity (As of June 30, 2025, representing the net worth of the company.)
• $171.3K — Total Revenue (For the six months ended June 30, 2025, reflecting sales performance.)
• $112.5K — Net Income (For the six months ended June 30, 2025, indicating profitability.)

Key Players & Entities

• BioNexus Gene Lab Corp (company) — Filer of the 10-Q
• 20250630 (date) — End of the reporting period
• 20250818 (date) — Filing date
• Kuala Lumpur (location) — Company's business address
• $647,890 (dollar_amount) — Total assets for the six months ended June 30, 2025
• $304,561 (dollar_amount) — Total liabilities for the six months ended June 30, 2025
• $171,291 (dollar_amount) — Total revenue for the six months ended June 30, 2025
• $112,482 (dollar_amount) — Net income for the six months ended June 30, 2025

FAQ

Key Financial Figures

• $16,109 — 24 2025 2024 REVENUE (Including $16,109 and $7,737 of revenue from related part
• $7,737 — 2024 REVENUE (Including $16,109 and $7,737 of revenue from related parties for the
• $32,179 — ne 30, 2025 and 2024, respectively, and $32,179 and $41,823 of revenue from related par
• $41,823 — and 2024, respectively, and $32,179 and $41,823 of revenue from related parties for the
• $2,307 — ,356,415 COST OF REVENUE (Including $2,307 and $28,766 of cost of revenue from rel
• $28,766 — COST OF REVENUE (Including $2,307 and $28,766 of cost of revenue from related parties
• $105,980 — and 2024, respectively, and $2,307 and $105,980 of cost of revenue from related parties
• $1,012 — General and administrative (Including $1,012 and $Nil of rental expenses to related
• $2,056 — ne 30, 2025 and 2024, respectively, and $2,056 and $Nil of rental expenses to related
• $2.98 — -to-1 reverse stock split at a price of $2.98 per share See accompanying notes to th

Filing Documents

• bglc_10q.htm (10-Q) — 1612KB
• bglc_ex108.htm (EX-10.8) — 35KB
• bglc_ex311.htm (EX-31.1) — 12KB
• bglc_ex312.htm (EX-31.2) — 10KB
• bglc_ex321.htm (EX-32.1) — 3KB
• bglc_ex322.htm (EX-32.2) — 3KB
• 0001477932-25-006023.txt ( ) — 7375KB
• bglc-20250630.xsd (EX-101.SCH) — 56KB
• bglc-20250630_lab.xml (EX-101.LAB) — 297KB
• bglc-20250630_cal.xml (EX-101.CAL) — 56KB
• bglc-20250630_pre.xml (EX-101.PRE) — 254KB
• bglc-20250630_def.xml (EX-101.DEF) — 126KB
• bglc_10q_htm.xml (XML) — 1678KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Page Item 1.

Financial Statements

Financial Statements 4 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 32 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 43 Item 4.

Controls and Procedures

Controls and Procedures 44

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 45 Item 1A.

Risk Factors

Risk Factors 45 Item 2. Unregistered Sale of Equity Securities and Use of Proceeds 46 Item 3. Defaults Upon Senior Securities 46 Item 4. Mine Safety Disclosures 46 Item 5. Other Information 46 Item 6. Exhibits 47

SIGNATURES

SIGNATURES 48 2 Table of Contents CAUTIONARY NOTE REGARDING

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains statements that may be deemed to be "forward-looking statements" within the meaning of the federal securities laws. These statements relate to anticipated future events, future results of operations and or future financial performance. In some cases, you can identify forward-looking statements by their use of terminology such as "anticipate," "believe," "could," "estimate," "expect," "future," "intend," "may," "ought to," "plan," "possible," "potentially," "predicts," "project," "should," "will," "would," negatives of such terms or other similar terms. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. The forward-looking statements in this Quarterly Report on Form 10-Q include, without limitation, statements relating to: our goals and strategies; our future business development, results of operations and financial condition; our estimates regarding expenses, future revenues, capital requirements and our need for additional financing; our estimates regarding the market opportunity for our services; the impact of government laws and regulations; our ability to recruit and retain qualified personnel; our failure to comply with regulatory guidelines; uncertainty in industry demand; general economic conditions and market conditions in the diagnostics, specialty chemicals and contract development and manufacturing (CDMO), and digital asset treasury strategies; future sales of large blocks or our securities, which may adversely impact our share price; and depth of the trading market in our securities. The preceding list is not intended to be an exhaustive list of all of our forward-looking statements. Forward-looking statements reflect our current

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Financial Statements

ITEM 1. Financial Statements BIONEXUS GENE LAB CORP. CONDENSED CONSOLIDATED BALANCE SHEETS AS OF JUNE 30, 2025 AND DECEMBER 31, 2024 (Currency expressed in United States Dollars ("US$")) As of Note June 30, December 31, 2025 2024 (Unaudited) (Audited) ASSETS CURRENT ASSETS Cash and bank balances 814,179 1,583,479 Fixed deposits placed with financial institutions (including $ 1,521,689 and $ 1,490,461 of fixed deposits with original maturities more than 3 months as of June 30, 2025 and December 31, 2024 respectively) 2,244,699 2,793,948 Trade receivables, net of allowance for credit losses of $ 494,668 and $ 517,877 as of June 30, 2025 and December 31, 2024 respectively (including $ 16,463 and $ 47,272 of trade receivables from related parties as of June 30, 2025 and December 31, 2024 respectively) 3 1,852,085 1,376,571 Other receivables, deposits and prepayments 151,269 203,660 Tax recoverable 4 101,471 84,167 Inventories (including goods in transit of $Nil and $ 188,797 as of June 30, 2025 and December 31, 2024 respectively) 1,215,623 1,388,624 Total current assets 6,379,326 7,430,449 NON-CURRENT ASSETS Operating lease right-of-use assets 5 200,284 215,243 Property, plant and equipment, net 6 1,592,907 1,522,990 Investments in equity securities 7 1,248,688 1,265,166 Total non-current assets 3,041,879 3,003,399 TOTAL ASSETS $ 9,421,205 $ 10,433,848 See accompanying notes to the condensed consolidated financial statements. 4 Table of Contents

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

FINANCIAL STATEMENTS (CONT'D)

ITEM 1. FINANCIAL STATEMENTS (CONT'D) BIONEXUS GENE LAB CORP. CONDENSED CONSOLIDATED BALANCE SHEETS AS OF JUNE 30, 2025 AND DECEMBER 31, 2024 (Currency expressed in United States Dollars ("US$")) As of Note June 30, December 31, 2025 2024 (Unaudited) (Audited) LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Trade payables (including $ 2,398 and $nil of trade payables from related parties as of June 30, 2025 and December 31, 2024 respectively) 8 1,367,535 1,503,326 Other payables and accrued liabilities 307,340 284,108 Current portion of operating lease liabilities 5 55,809 50,816 Advance payment from customer 11,348 95,879 Amount owing to directors 15,789 17,174 Total current liabilities 1,757,821 1,951,303 NON-CURRENT LIABILITIES Non-current portion of operating lease liabilities 5 141,347 159,741 Deferred tax liabilities 4 - - Total non-current liabilities 141,347 159,741 TOTAL LIABILITIES $ 1,899,168 $ 2,111,044 STOCKHOLDERS' EQUITY As at June 30, 2025, common stock, no par value; 300,000,000 shares authorized and 1,796,597 shares outstanding, and preferred stock, no par value; 30,000,000 shares authorized and no shares outstanding. As at December 31, 2024, common stock, no par value; 300,000,000 shares authorized and 1,796,766 shares outstanding, and preferred stock, no par value; 30,000,000 share authorized and no shares outstanding (on a post-reverse stock split basis)*. 12 $ 17,331,810 $ 17,332,315 Additional paid in capital ( 5,011,891 ) ( 5,011,891 ) Accumulated deficit ( 4,682,119 ) ( 3,442,620 ) Accumulated other comprehensive losses ( 115,763 ) ( 555,000 ) TOTAL STOCKHOLDERS' EQUITY 7,522,037 8,322,804 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 9,421,205 $ 10,433,848 * Issued and outstanding shares of common stock have been adjusted as below: 1) for the periods prior to April 7, 2025, to reflect the 10-for-1 reverse stock split

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View this 10-Q filing on SEC EDGAR