Company: BGLC
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001477932-25-008343
Chunk: 68

Company: BioNexus Gene Lab Corp
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 68
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 trade and other receivables and operating lease liabilities, an increase in inventories, advance payment from customer   and a substantial reduction in trade and other payables, resulted in net cash of $(2,312,463) being used in operating activities during the nine months ended September 30, 2024.

Investing Activities

During the nine months ended September 30, 2025, the Company recorded net cash generated from investing activities of $950,468, primarily due to proceeds from disposal of investments in equity securities of $1,020,873 and dividend income of $21,752, partially offset by the purchase of plant and equipment totaling $(35,994), acquisition of investments in equity securities of $(9,064) and a change in fixed deposits placed for more than three months of $(47,099).

By comparison, during the same period last year, the Company had net cash of $(136,200) used in investment activities from proceeds from disposal of share investments of $494,741, refund from settlement of supplier contract dispute at $78,787 and dividend income of $59,653, partially offset by acquisition of share investment of $(486,170), a change in fixed deposits placed for more than three months of $(60,244) and purchase of plant and equipment of $(222,967).  

Financing Activities

During the nine months ended September 30, 2025, the Company had net cash of $32,297 generated from financing activities. This was primarily due to advances from directors of $32,802 and payment of $(505) related to the rounding down of 169.30 fractional shares resulting from a 1 to 10 reverse stock split at a price of $2.98 per share.

By comparison, during the same period in the previous year, the Company had net cash of $146,362 generated from financing activities for advances from directors of $5,362 and share-base compensation of $141,000 

Item 3. Quantitative and Qualitative Disclosures about Market Risk.

As a “smaller reporting company” as defined by Item 10 of Regulation S-K, the Company is not required to provide information required by this item.

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Item 4. Controls and Procedures.

Evaluation of Disclosure Controls and Procedures

As of September 30, 2025, the Company carried out an evaluation under the supervision and with the participation of its Chief Executive Officer and Chief Financial Officer of the effectiveness of the design and operation of the Company