Company: NIVFW
Filing Date: 2025-10-31
Form Type: 424B3
Source: 0001213900-25-104469
Chunk: 138

Company: NewGenIvf Group Ltd
Filing Date: 2025-10-31
Form: 424B3
Chunk 138
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 Equity, APIC and APIC – deferred financing cost are not segregated.

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Principles of consolidation and basis of preparation

The accompanying consolidated
financial statements reflect the accounts of the Company and all of its subsidiaries in which a controlling interest is maintained. All
inter-company balances and transactions have been eliminated in consolidation.

The business combination
transaction between Legacy NewGenIvf and SPAC I was accounted for as a reverse recapitalization under ASC 805, Business Combinations,
with NewGenIvf Group Limited, and deemed to be the accounting acquirer. As SPAC I did not meet the definition of a business under ASC
805, the transaction was not treated as a business combination. Instead, it was accounted for as a recapitalization.

Accordingly, the consolidated
assets, liabilities and results of operations of the accounting acquirer will become the historical financial statements of the Company,
and the accounting acquirer’s assets, liabilities and results of operations will be consolidated with the Company beginning on
the acquisition date. The Legacy NewGenIvf was the legal acquiree but deemed to be the accounting acquirer. The Company was the legal
acquirer but deemed to be the accounting acquiree in the reverse merger. The historical financial statements prior to the acquisition
are those of the accounting acquirer (Legacy NewGenivf). After completion of the Merger Transaction, the Company’s consolidated
financial statements include the assets and liabilities, the operations and cash flow of the accounting acquirer. Any excess of the value
of shares issued by the Company over the net book value of the accounting acquirer will be recognized as a reduction to equity (APIC).

Revenue recognition

The Company adopted ASC Topic
606, Revenue from Contracts with Customers. The Company derives revenue principally from provision of In vitro fertilization (“IVF”)
treatment and surrogacy and ancillary caring services. Revenue from contracts with customers is recognized using the following five steps:

| (1) | identify its contracts 
 with customers;        |

| (2) | identify its performance           
 obligations under those contracts; |

| (3) | determine the transaction  
 prices of those contracts; |

| (4) | allocate the transaction                                      
 prices to its performance obligations in those contracts; and |

| (5) | recognize revenue when                                                                                                              
 each performance obligation under those contracts is satisfied. Revenue is recognized when promised services are transferred to the 
 client in an amount that reflects the consideration expected in exchange for