Company: BGLC
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001477932-25-002725
Chunk: 204

Company: BioNexus Gene Lab Corp
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 204
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 $(184,433)Rental of factory $(1,969) $-  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 There are no major customers who accounted for 10% or more of the Company’s revenue for the financial year ended December 31, 2024 and December 2023. b) Major suppliers For year ended December 31, 2024 and 2023, the suppliers who accounted for 10% or more of the Company’s cost of sales and their balances at year ended are presented as follows:   2024  2023  2024  2023  2024  2023   Purchase  Percentage of purchases  Accounts payable trade Vendor A $1,635,124  $1,439,569   19.89%  17.05% $512,811  $354,170 Vendor B $1,321,889  $1,224,113   16.08%  14.50% $168,302  $208,186 Vendor C $1,138,814  $1,467,381   13.85%  17.38% $160,521  $252,435   $4,095,827  $4,131,063   49.82%  48.93% $841,634  $814,791 

NOTE 12– STOCKHOLDERS’ EQUITY  As at December 31, 2024 and 2023, the Company issued and outstanding, common stock is 17,967,663 and 17,667,663 shares respectively.  Reverse Stock Split  On June 5, 2023, the Company filed an Article of Amendment to the Articles of Incorporation with the Wyoming Secretary of State to modify the ratio of the Reverse Stock Split from one-for-ten (10) to one-for-twelve (12) (the “Revised Reverse Stock Split”). Upon effectiveness of the Revised Reverse Stock Split, every twelve (12) outstanding shares of common stock were combined into and automatically became one share of common stock. No