Company: BGLC
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001477932-25-002725
Chunk: 579

Company: BioNexus Gene Lab Corp
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1B
Chunk 579
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 ended December 31, 2023, we had the total tax expense of $21,526 due to a deferred tax credit of $17,359 which offset a tax provision of $38,885.  The lower tax expenses were primarily due to lower operating profits.

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Foreign Currency Translation Gain/(Loss). We are exposed to fluctuations in foreign exchange rates on the revaluation of monetary assets and liabilities denominated in currencies other than the US Dollar. Therefore, any change in the relevant exchange rate will require us to recognize a transaction gain or loss on revaluation. For the annual period ended December 31, 2024, we had foreign currency translation gain of $122,294 compared with foreign currency translation loss of  $268,232 for the prior annual period.

   MRNA Scientific and Chemrex Corporation    Provision for genomic screening services  Trading of industrial chemicals  Provision for genomic screening services  Trading of industrial chemicals    Year ended December 31, 2024  Year ended December 31, 2023               REVENUE  $16,069  $9,494,577  $24,219  $9,746,587                   COST OF REVENUE   (7,316)  (8,213,809)  (19,851)  (8,421,457)                  GROSS PROFIT   8,753   1,280,768   4,368   1,325,130                   OTHER INCOME                 Dividend income    -   68,130   -   61,409 Interest income   109,444   38,197   19,629   49,046 Fair value gain on investments in equity securities   -   69,476   - 306,614 Gain on disposal of investments in equity securities    -   38,409   -    7,245 Reversal of expected credit losses   -   1,689,412   -   - Others   13,507   45,898   -   42,093 TOTAL OTHER INCOME   122,951   1,949,522   19,629   466,407                   OPERATING EXPENSES