Company: NIVFW
Filing Date: 2025-10-31
Form Type: 424B3
Source: 0001213900-25-104469
Chunk: 221

Company: NewGenIvf Group Ltd
Filing Date: 2025-10-31
Form: 424B3
Chunk 221
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 Third Mandatory Additional Note was issued subsequent to year end and remains outstanding. Moreover, the
Company has access to an equity line of credit facility of up to $100,000,000 from White Lion Capital, of which approximately $7.1 million
has been drawn and become equity to date.

The Company can make no
assurance that required financings will be available for the amounts needed, or on terms commercially acceptable to the Company, if at
all. If one or all of these events does not occur or subsequent capital raises are insufficient to bridge financial and liquidity shortfall,
there would likely be a material adverse effect on the Company and its financial statements.

The consolidated financial
statements do not reflect adjustments that would be necessary if the going concern basis was not appropriate. If the going concern basis
was not appropriate for these consolidated financial statements, then adjustments would be necessary in the carrying value of the assets
and liabilities, the reported revenues and expenses, and the balance sheet classifications used. These adjustments could be material.

NOTE 4 — ACCOUNTS RECEIVABLE, NET

Accounts receivable, net consists of the following:

|                                          |     | December 31, |   2024 |   |     |   |  2023 |   |
|:-----------------------------------------|:----|:-------------|-------:|:--|:----|:--|------:|:--|
| Accounts receivable                      |     | $            | 49,264 |   |     | $ | 9,393 |   |
| Less: allowance for expected credit loss |     |              |    (19 | ) |     |   |   (19 | ) |
|                                          |     | $            | 49,245 |   |     | $ | 9,374 |   |

<div align='center'>F-19</div>

As of the end of each of
the financial year, the aging analysis of accounts receivable, net of allowance for expected credit loss, based on the invoice date is
as follows:

|                |     | December 31, |   2024 |     |   |  2023 |
|:---------------|:----|:-------------|-------:|:----|:--|------:|
| Within 90 days |     | $            | 49,245 |     | $ | 9,374 |
|                |     | $            | 49,245 |     | $ | 9,374 |

The movement