Company: BGLC
Filing Date: 2025-08-18
Form Type: 10-Q
Source: 0001477932-25-006023
Chunk: 95

Company: BioNexus Gene Lab Corp
Filing Date: 2025-08-18
Form: 10-Q
Item: Part I, Item 2
Chunk 95
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 business grows, ·Increases in advertising and marketing in order to attempt to generate more revenues, and ·The cost of being a public company.

The Company believes that cash flow from operations together will be sufficient to sustain its current level of operations for at least the next 12 months of operations.

The following is a summary of the Company’s cash flows (used in) / generated from operating, investing, and financing activities for the six months ended June 30, 2025, and 2024

  Six months ended   June 30,   2025  2024        Net cash used in operating activities $(1,561,979) $(709,428)Net cash (used in)/generated investing activities  (44,178)  66,960 Net cash (used in)/generated financing activities  (1,890)  202,344 Foreign currency translation adjustment  258,270   (115,379)Net Change in Cash and Cash Equivalents $(1,349,777) $(555,503)

Operating Activities

During the six months ended June 30, 2025, the Company incurred a net loss of $(1,239,499) 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, trade and other payables, and operating lease liabilities, resulted in net cash of $(1,561,979) being used in operating activities during the six months ended June 30, 2025 .

By comparison, during the same period last year, the Company incurred a net profit of $95,347 which, after adjusting for amortization, depreciation, dividend income, allowances for expected credit losses, recovery for expected credit losses, fair value gain on share investment, gain on disposal on share investment, loss arising from settlement of supplier contract dispute, a decrease in inventories and operating lease liabilities, increase in trade and other receivables, advance payment from customer and a substantial reduction in trade and other payables, resulted in net cash of $(709,428) being used in operating activities during the six months ended June 30, 2024.

Investing Activities

During the six months ended June 30, 2025, the Company recorded net cash used in investing activities of $(