Company: BGLC
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001477932-25-003821
Chunk: 71

Company: BioNexus Gene Lab Corp
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 2
Chunk 71
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,050   (72,443)Net Change in Cash and Cash Equivalents $(797,528) $(79,016)

Operating Activities

During the three months ended March 31, 2025 , the Company incurred a net loss of $(623,327) which, after adjusting for amortization, depreciation, dividend income, allowances for expected credit losses, recovery for expected credit losses, fair value loss on investment in equity securities, an increase in trade and other receivables, a decrease in inventories, advance payment from customer and a substantial reduction in trade payables, operating lease liabilities, resulted in net cash of $(824,072) being used in operating activities during the three months ended March 31, 2025 .

By comparison, during the three months ended March 31, 2024, the Company incurred a net loss of $(103,757) which, after adjusting for amortization, depreciation, dividend income, fair value gain on investment in equity securities, allowances for expected credit losses, recovery for expected credit losses, gain on disposal on share investment, decrease in inventories and advance payment from customer, an increase in trade receivables and a substantial increase in trade payables, and decrease in operating lease liabilities, resulted in net cash of $(37,153) being used in operating activities during the three months ended March 31, 2024

Investing Activities

During the three months ended March 31, 2025, the Company recorded net cash used in investing activities of $(15,646), primarily due to the purchase of plant and equipment totalling $(9,052), partially offset by dividend income of $8,934 and a change in fixed deposits placed for more than three months of $(15,528).

By comparison, for the three months ended March 31, 2024, the Company generated net cash of $3,650 from investing activities. This was primarily the result of proceeds from the disposal of investment in equity securities amounting to $211,344, which more than offset the outflows from the acquisition of share investments of $(174,247), purchase of plant and equipment of $(21,945), and changes in fixed deposits of $(20,448). Dividend income for the period was $8,946.

Financing Activities

During the three months ended March 31, 2025, the Company had net cash of $(860) used in financing activities due to a loan repayment of $860 to a director.  By comparison during