Company: NIVFW
Filing Date: 2025-03-07
Form Type: F-1
Source: 0001213900-25-021404
Chunk: 107

Company: NewGenIvf Group Ltd
Filing Date: 2025-03-07
Form: F-1
Chunk 107
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 in the fiscal year ended December 31, 2023, primarily attributable to a waiving amount due to director from the company which is about US$88,151. Interest expense NewGenIvf’s interest expense increased by approximately 1,609%, from US$20,922 in the nine month period ended September 30, 2023 to US$357,551 in the nine month period ended September 30, 2024 as a result of interest charged and a discount on issuance of a promissory note on debt financing of US$4,300,000. NewGenIvf’s interest expense decreased by approximately 40.6%, from US$77,757 in 2022 to US$46,179 in 2023 as a result of less interest expenses on bank and other borrowings in 2023. Provision for income taxes NewGenIvf’s provision for income taxes was not made as a result of 100% allowance from deferred tax assets on net operating loss in the nine months ended September, 2024. NewGenIvf’s provision for income taxes decreased by approximately 100% from US$208,141 in 2022 to US$Nil in 2023 as a result of no assessable income generated from Thailand, Kyrgyzstan and Cambodia. Net income NewGenIvf’s net income decreased by approximately 20% from US$135,847 in 2022 to US$108,418 in 2023 as a result of a listing project carried out during in 2023 and a relocation of our operating clinic in Thailand, to cause the increase cost and salary of recruiting and training loacl talents. There is an additional auditor fees for the year, which is amounting to US$362,149. 75 Liquidity and Capital Resources Cash flows and working capital NewGenIvf’s principal sources of liquidity have been generated from its business operations. As of September 30, 2024 NewGenIvf had US$169,661 in cash and cash equivalents. As of December 31, 2023 and 2022, NewGenIvf had US$54,104 and U$27,556, respectively, in cash and cash equivalents. NewGenIvf had working capital (defined as total current assets deducted by total current liabilities) of a deficit of US$2,513,209 as of September 30, 2024. NewGenIvf had working capital of a surplus of US$79,000 and deficit