Company: NIVFW
Filing Date: 2025-06-03
Form Type: 424B3
Source: 0001213900-25-050825
Chunk: 229

Company: NewGenIvf Group Ltd
Filing Date: 2025-06-03
Form: 424B3
Chunk 229
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Ivf. The Loan will only become repayable upon the
closing of the Acquisition Merger. As of December 31, 2023, $140,000 was outstanding under the loan. The Legacy NewGenIvf completed the
business combination with A SPAC I Acquisition Corp on April 3, 2024. After the combination, the balance of loan to ACSA was eliminated
in the subsequent period.

NOTE 19 — COMMITMENTS & CONTINGENCIES

As of December 31, 2024 and
2023, the Company was not a party to any legal or administrative proceedings. As of December 31, 2024, the Company had commitment as described
in Notes 10 and 11 to the financial statements.

The Company is also committed
to honor its obligations pursuant to the convertible note agreements as described in Note 10

<div align='center'>F-30</div>

NOTE 20 — DISPOSAL OF SUBSIDIARY

On December 18, 2024, the
Company completed the sale of its First Fertility Bishkek LLC to an unrelated third party for total consideration of US$11, consisting
of cash.

As part of the disposal,
all the outstanding account payables and receivables as well as all outstanding balances between the First Fertility Bishkek LLC and Harcourt,
FFPGS, and the Director were transferred to the Seller. Any tax liabilities in Kyrgyzstan arising from the transfer of these balances
shall be borne by the Buyer.

The following table summarizes the financial impact
of the disposal:

| ● | Consideration received: Cash of $11 |

| ● | Net assets acquired of $486,706 |

| ● | Reversal of excess tax of $486,706 |

The disposal was accounted for in accordance with ASC 810, Consolidation.
As a result, the Company deconsolidated First Fertility Bishkek LLC and recognized a write back of tax (after netting against the cash
consideration received) in the amount of US$486,706 in the consolidated statements of operations for the year ended December 31, 2024.

The disposal did not represent a strategic shift
and, therefore, was not classified as a discontinued operation under ASC 205-20.

NOTE 21 — BUSINESS ACQUISITION

On December 17, 2024, the Company acquired Bi
Clinic Ltd (“Bi Clinic”), which holds a license for the provision of IVF treatment, sur