Company: NIVFW
Filing Date: 2025-04-22
Form Type: 20-F
Source: 0001213900-25-033966
Chunk: 130

Company: NewGenIvf Group Ltd
Filing Date: 2025-04-22
Form: 20-F
Item: Item 15
Chunk 130
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 S. GAAP knowledge for financial reporting purposes, thereby affecting the proper adherence to U. S. GAAP and SEC requirements. A comprehensive
assessment of our internal control, aimed at identifying and reporting material weaknesses and other deficiencies, was not conducted by
either us or our independent registered public accounting firm. Performing such an assessment or having an audit of our internal control
over financial reporting might have revealed additional deficiencies.

To address the identified
material weakness stemming from the audit of our combined and consolidated financial statements for the year ended December 31, 2024,
we intend to implement various measures, including the hiring of additional accounting personnel to enhance the financial reporting function
and the establishment of a financial and system control framework. We also intend to initiate regular U. S. GAAP and SEC financial reporting
training programs for our accounting and financial personnel. Moreover, we are in the process of developing and implementing a set of
policies and procedures for period-end financial reporting. However, we cannot provide assurance that these measures will be entirely
effective in remediating the material weakness in a timely manner or at all. To mitigate the risk, the Company engages consultants and
professionals to provide advice and assistance.

We qualify as an “emerging
growth company” under the JOBS Act. An emerging growth company is entitled to certain reduced reporting and other requirements that
are typically applicable to public companies. These provisions include exemption from the auditor attestation requirement under Section
404 of the Sarbanes-Oxley Act of 2002 concerning the assessment of the emerging growth company’s internal control over financial
reporting.

(c) Changes in Internal Control
Over Financial Reporting

Management is committed to
improving the internal controls over financial reporting and will undertake consistent improvements or enhancements on an ongoing basis.
Except as described above, there were no changes in our internal controls over financial reporting during the fiscal year ended December
31, 2024 that have materially affected, or are reasonably likely to material affect, our internal control over financial reporting.

ITEM 16. [RESERVED]