Company: BGLC
Filing Date: 2025-08-18
Form Type: 10-Q
Source: 0001477932-25-006023
Chunk: 27

Company: BioNexus Gene Lab Corp
Filing Date: 2025-08-18
Form: 10-Q
Item: Part I, Item 1
Chunk 27
---
 PARTY TRANSACTIONS The following table provides details of the total revenue earned and expenses incurred from all related party transactions:    Three months ended   Six months ended    June 30,  June 30,  June 30,  June 30,   2025  2024  2025  2024 Entities in which certain directors of a subsidiary have substantial financial interests            Sales of goods $16,109  $7,737  $32,179  $41,823 Purchases  (2,307)  (28,766)  (2,307)  (105,980)Rental of factory  (1,012)  -   (2,056)  -  The balances related to the above transactions with related parties are as disclosed in the Consolidated Balance Sheets which are interest-free, unsecured and subject to normal credit terms. 

NOTE 11 - CONCENTRATION OF RISKS a) Major customers For three months ended June 30, 2025, and 2024, respectively, the customers who accounted for 10% or more of the Company's revenues and its accounts received balance at period-end are presented as follows:   2025  2024  2025  2024  2025  2024   Revenues  Percentage of revenues  Accounts receivable trade Customer A $250,240  $-   11.00%  -  $317,314  $-   $250,240  $-   11.00%  -  $317,314  $-  b) Major suppliers For three months ended June 30, 2025, and 2024, respectively, the suppliers who accounted for 10% or more of the Company’s cost of sales and their balances at period ended are presented as follows:   2025  2024  2025  2024  2025  2024   Purchase  Percentage of purchases  Accounts payable trade Vendor A $640,043  $279,263   33.82%  16.57% $647,890  $304,561 Vendor B $235,304  $177