Company: BGLC
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001477932-25-008343
Chunk: 94

Company: BioNexus Gene Lab Corp
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 2
Chunk 94
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,307 (0.6%) of the total gross profit for the current nine month period ended September 30, 2025, as compared to $4,501 (0.5%) of the total gross profit for the same period in the previous year, representing a increase of 40.1% due to the reallocation of reagent costs to the R&D department for BGS tests. 

Chemrex contributed $1,082,893 (99.4%) of the total gross profit for the current nine month period ended September 30, 2025, as compared to $975,786 (99.5%) of the total gross profit for the same period in the previous year. The gross profit increased by 10.98% for the current period due to decrease in cost of revenue as the product mix included products that generated a higher margin of sales as compared to the previous period.

Other Income. For the current nine month period ended September 30, 2025, we had $408,641 other income as compared to $1.397,479 for the same period in the previous year. This represents a decrease of 70.76% for the reasons discussed below.

MRNA Scientific had $74,565 (18.2%) for the current nine month period ended September 30, 2025, as compared to $98,830 (7.1%) for the same period in the previous year, representing a decrease of 24.6%. The decrease was primarily due to a decline in USD fixed deposit interest rates and a reduction in fixed deposit placements. In addition, no foreign exchange gains were recognized from foreign currency accounts held in Malaysia during the current period, unlike in the same period in the previous year.

Chemrex contributed $334,076 (81.8%) of other income for the current nine month period ended September 30, 2025, as compared to $1,298,649 (92.9%) for the same period in the previous year.  This represents a decrease of 74.28% primarily due to lower income derived from bank interest earnings and dividends received, fair value gains on investments in equity securities and gains recognized on disposal of equity securities.  The Company also has a lower amount of expected credit losses reversal for the current period.

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Operating Expenses. For the current nine month period ended September 30, 2025, total operating expenses amounted to $3,430,061 representing a decrease of 2.98