Company: BGLC
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001477932-25-002725
Chunk: 278

Company: BioNexus Gene Lab Corp
Filing Date: 2025-04-15
Form: 10-K
Item: Item 12
Chunk 278
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1,389  $979 Total $2,378,468  $461,254 

Audit Committee Review: The increases in Director’s remuneration in 2024 were not previously submitted for Board approval. The Audit Committee has reviewed the approval process by the subsidiary in Q4 2024 and has resolved to submit the agenda to the upcoming Chemrex Annual Meeting for ratification or rejection. Should the approvals at the subsidiary level be rejected, the Company may demand that improperly approved amounts be returned.

Related Party Review Policy (Regulation S-K 404(b))

The Company has adopted a Related Party Transactions Policy, administered by the Audit Committee. This policy requires:

 ·Pre-approval of all related party transactions; ·Documentation of arm’s-length terms; ·Ongoing monitoring and retrospective review if prior approval was not obtained.

The Audit Committee has conducted a comprehensive review of all transactions listed above and will update the Board and shareholders on any remediation actions or accounting impacts.

Director Independence (Regulation S-K 407(a))

The Company has determined that the following directors are independent under Nasdaq Rule 5605(a)(2):

 ·Chee Keong Yap ·Muhammad Azrul bin Abdul Hamid ·Jook Yuen Low

No independent director had a material interest in any of the related party transactions disclosed above.

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Item 14. Principal Accountant Fees and Services.

JP Centurion & Partner PLT is the Company’s current independent registered public accounting firm.

(1) Audit Fees

The aggregate fees billed for each of the last two fiscal years for professional services rendered by the principal accountant for our audit of annual financial statements and review of financial statements included in our quarterly reports or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for those fiscal years were:

2024 $86,829 2023 $92,833 

(2) Audit-Related Fees

The aggregate fees billed in each of the last two fiscal years for assurance and related services by the principal accountants that are reasonably related to the performance of the audit or review of our financial statements and are not reported in the preceding paragraph:

2024 $11,194 2023 $5,201 

(3) Tax Fees

The aggregate fees billed in each of the last two fiscal years for professional services rendered by the principal accountant for tax compliance, tax advice, and tax planning were:

2024