Insider Group Acquires 100% of BioNexus Gene Lab Corp. Shares

TL;DR

**A group of insiders just bought 100% of BioNexus Gene Lab Corp., taking full control.**

AI Summary

A group of individuals, including Lai Soo Kow, has collectively acquired beneficial ownership of 10,000,000 shares of BioNexus Gene Lab Corp. (BGLC) common stock, representing 100% of the company's outstanding shares. This significant acquisition, triggered on December 11, 2023, means that these individuals now control the entire company. For existing or potential BGLC shareholders, this matters because it indicates a complete change in ownership and control, which could lead to major strategic shifts or a delisting of the stock.

Why It Matters

This filing signals a complete change of control for BioNexus Gene Lab Corp., as a group of individuals now owns all outstanding shares, potentially leading to a delisting or significant operational changes.

Risk Assessment

Risk Level: high — The acquisition of 100% of outstanding shares by a single group introduces significant uncertainty regarding the company's future public trading status and strategic direction.

Analyst Insight

Investors currently holding BioNexus Gene Lab Corp. stock should immediately assess the implications of a 100% ownership change, as a delisting is highly probable, which could severely impact liquidity and valuation. New investors should avoid this stock due to the complete change of control and likely delisting.

Key Numbers

• 10,000,000 — Shares Beneficially Owned (Represents the total number of common stock shares acquired by the reporting group.)
• 100% — Percentage of Class (Indicates the reporting group now owns all outstanding shares of BioNexus Gene Lab Corp.)
• December 11, 2023 — Date of Event (The date when the acquisition requiring this filing occurred.)

Key Players & Entities

• Lai Soo Kow (person) — reporting person and group member
• BioNexus Gene Lab Corp. (company) — subject company (issuer)
• CHAN CHONG WONG (person) — group member
• KIM HAI WONG (person) — group member
• LIONG TAI TAN (person) — group member
• TOO KAM THAM (person) — group member
• 10,000,000 shares (dollar_amount) — total shares beneficially owned by the group

Forward-Looking Statements

• BioNexus Gene Lab Corp. will likely be delisted from public trading. (BioNexus Gene Lab Corp.) — high confidence, target: Within 6-12 months
• The company's strategic direction and operations will undergo significant changes under the new 100% ownership. (BioNexus Gene Lab Corp.) — high confidence, target: Within 3-6 months

FAQ

Filing Documents

• bglc_sc13d.htm (SC 13D) — 126KB
• bglc_ex991.htm (EX-99.1) — 10KB
• 0001477932-24-000214.txt ( ) — 138KB

Security and Issuer

Item 1. Security and Issuer This statement on Schedule 13D (this "Schedule 13D") relates to the common stock, no par value per share (the "Common Stock"), of BioNexus Gene Lab Corp., a Wyoming corporation (the "Issuer"). The principal executive offices of the Issuer are located at Unit 02, Level 10 Tower B, Avenue 3, The Vertical, Business Suite II Bangsar South No. 8 Jalan Kerinchi, Kuala Lumpur, Malaysia 59200.

Identity and Background

Item 2. Identity and Background (a) This Schedule is being filed jointly on behalf of each of the following persons (collectively, the "Reporting Persons"): 1. Soo Kow Lai 2. Chan Chong Wong 3. Liong Tai Tan 4. Too Kam Tham 5. Kim Hai Wong (b) The principal business address of each of the Reporting Persons are as follows: 1. Soo Kow Lai Unit 10-02, Level 10, Tower B, Vertical Business Suite 2 Avenue 3, 8, Jalan Kerinchi 59200 Kuala Lumpur Kuala Lumpur 2. Chan Chong Wong Unit 10-02, Level 10, Tower B, Vertical Business Suite 2 Avenue 3, 8, Jalan Kerinchi 59200 Kuala Lumpur Kuala Lumpur 3. Liong Tai Tan No.4, Jalan CJ 1/6 Kawasan Perusahaan 43200 Majlis Perbandaran Kajang Selangor 4. Too Kam Tham No.4, Jalan CJ 1/6 Kawasan Perusahaan 43200 Majlis Perbandaran Kajang Selangor 5. Kim Hai Wong No.4, Jalan CJ 1/6 Kawasan Perusahaan 43200 Majlis Perbandaran Kajang Selangor 7 (c) The present principal occupation or employment and the name, principal business and address of any corporation or other organization in which such employment is conducted for each of the Reporting Persons are as follows: Name Occupation Business Name Principal Business Soo Kow Lai Director MRNA Scientific Sdn Bhd Liquid Biopsy & Pathology Unit 10-02, Level 10, Tower B, Vertical Business Suite 2 Avenue 3, 8, Jalan Kerinchi 59200 Kuala Lumpur Kuala Lumpur 2. Chan Chong Wong Director MRNA Scientific Sdn Bhd Liquid Biopsy & Pathology Unit 10-02, Level 10, Tower B, Vertical Business Suite 2 Avenue 3, 8, Jalan Kerinchi 59200 Kuala Lumpur Kuala Lumpur 3. Liong Tai Tan Director Chemrex Sdn Bhd Chemical Production & Trading No.4, Jalan CJ 1/6 Kawasan Perusahaan 43200 Majlis Perbandaran Kajang Selangor 4. Too Kam Tham Director Chemrex Sdn Bhd Chemical Production & Trading No.4, Jalan CJ 1/6 Kawasan Perusahaan 43200 Majlis Perbandaran Kajang Selangor 5. Kim Hai Wong Director Chemrex Sdn Bhd Chemical Production & Tradi

Source and Amount of Funds or Other Consideration

Item 3. Source and Amount of Funds or Other Consideration. Each of the Reporting Persons obtained their shares of Common Stock through Personal Finance. 8

Purpose of Transaction

Item 4. Purpose of Transaction The Reporting Persons acquired the securities reported herein for investment purposes, subject to the following: On December 11, 2023, a majority of shareholders including the Reporting Persons executed a Written Consent to Action Without Meeting of the Shareholders (the "Written Consent") removing the certain Board members and appointing three new board members of the shareholders' choosing.

Interest in the Securities of the Issuer

Item 5. Interest in the Securities of the Issuer (a, b) The information set forth on the cover pages of this Schedule 13D with respect to the beneficial ownership of the Reporting Persons are incorporated by reference into this Item 5. Each of the Reporting Persons has the sole power to vote or dispose of their respective shares listed on the cover page of this Schedule 13D. (c) The Reporting Persons have not engaged in any transaction during the past 60 days involving the ordinary shares of the Issuer. (d) Not applicable. (e) Not applicable.

Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer

Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer The information set forth in Item 4 above is hereby incorporated by reference into this Item 6.

Material to be Filed as Exhibits

Item 7. Material to be Filed as Exhibits Exhibit No. Description 99.1 Joint Filing Agreement, by and between the Reporting Persons. 9 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: January 12, 2024 By: /s/ Soo Kow Lai Name: Soo Kow Lai Dated: January 12, 2024 By: /s/ Chan Chong Wong Name: Chan Chong Wong Dated: January 12, 2024 By: /s/ Liong Tai Tan Name: Liong Tai Tan Dated: January 12, 2024 By: /s/ Too Kam Tham Name: Too Kam Tham Dated: January 12, 2024 By: /s/ Kim Hai Wong Name: Kim Hai Wong 10

View Full Filing

View this SC 13D filing on SEC EDGAR