Company: BGLC
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001477932-25-002725
Chunk: 353

Company: BioNexus Gene Lab Corp
Filing Date: 2025-04-15
Form: 10-K
Item: Item 13
Chunk 353
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,143   2,396,622 (Less): Accumulated depreciation  (756,976)  (659,115)(Less): Accumulated impairment  (40,173)   - Add: Foreign translation differences  (186,004)  (225,889)Property, plant and equipment, net $1,522,990  $1,511,618   During the year ended December 31, 2024 and 2023, the Company recorded depreciation of $104,160 and $83,253, respectively. *includes an amount of $109,509 as explained in Note 14

 F-21Table of Contents

BIONEXUS GENE LAB CORP. 

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 

FOR THE YEAR ENDED DECEMBER 31, 2024 AND 2023 

(Currency expressed in United States Dollars (“US$”)) 

(Audited) 

NOTE 7 – INVESTMENTS IN EQUITY SECURITIES         As of   December 31,  December 31,   2024  2023 As of beginning of the year $1,699,831  $1,150,898 Addition during the year  492,732   320,733 Disposal during the year  (1,030,368)  (26,146)Fair value gains  69,476   313,859 Impairment during the year     -   (6,194)Foreign exchange translation   33,495   (53,319)As of end of the year $1,265,166  $1,699,831  For the year ended December 31, 2024 and 2023, the net fair value gains on the investments in equity securities were $69,476 and $313,859 recorded in other income of the Consolidated Statements of Operations and Comprehensive Income/(Loss).   The investments in equity securities consist of the following shares:        As of   December 31,  December 31,   2024  2023 Investment in equity securities with readily determined fair value:      Malaysia  863,810   1,138,863 Singapore  177,808   79,577