Company: NIVFW
Filing Date: 2025-08-22
Form Type: DRS
Source: 0001213900-25-079717
Chunk: 236

Company: NewGenIvf Group Ltd
Filing Date: 2025-08-22
Form: DRS
Chunk 236
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 IVF and surrogacy service provider. These approvals, along with the Company’s planned integration of medical personnel
and operational processes, provide the necessary inputs and substantive processes required to meet the definition of a business under
ASC 805.

Since Bi Clinic had no other
assets or liabilities, the entire purchase price was allocated to intangible assets, specifically the IVF license and regulatory approvals.
No goodwill was recognized in connection with the transaction.

As Bi Clinic had no prior
operations, its financial results have been included in the consolidated financial statements from the acquisition date, with no historical
revenue or expenses impacting the Company’s consolidated results. Pro forma financial information has been omitted, as the acquisition
is not considered material to the Company’s financial results.

NOTE 22 — SUBSEQUENT EVENTS

The Company evaluated subsequent
events and transactions that occurred after the balance sheet date up to the date that the financial statements were issued. Based upon
this review, other than as described below, the Company did not identify any subsequent events that would have required adjustment or
disclosure in the financial statements.

On February 11, 2025, the
Company carried out a 1-for-20 reverse stock split of its issued and unissued shares. The effect of the reverse stock split was to consolidate
every 20 issued and unissued shares into one share.

On February 24, 2025, the
Company entered into a Consulting Services Agreement with A SPAC (Holdings) Group Corp (“ASPAC”), pursuant to which the Company
engaged ASPAC for the provision of certain consulting services. It was agreed that the Company would provide consideration in the form
of cash and shares. On March 3, 2025, the Company issued the 150,000 (equivalent to 15,000 post Second Reverse Stock Split) Class A Ordinary
Shares to ASPAC.

On February 27, 2025, the
Company received a confirmation from Nasdaq that its application to transfer its listing to the Nasdaq Capital Market had been approved
and that the Company’s securities were transferred to the Nasdaq Capital Market at the opening of business on February 28, 2025.
On March 10, 2025, the Company received a confirmation letter from Nasdaq confirming that it has demonstrated compliance with all of Nasdaq’s
listing requirements, including shareholder equity of more than $2.5m, as required in the Panel’s decision letter dated February
19, 2025.

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