Company: NIVFW
Filing Date: 2025-09-18
Form Type: F-1
Source: 0001213900-25-088927
Chunk: 116

Company: NewGenIvf Group Ltd
Filing Date: 2025-09-18
Form: F-1
Chunk 116
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 Promissory note                        |     |        |   500,000 |
| Income tax payable                     |     |        |    11,746 |
| Total current liabilities              |     |        | 2,720,354 |
| Non-current liabilities                |     |        |           |
| Lease liabilities, operating leases    |     |        |    10,231 |
| Convertible notes                      |     |        | 2,328,916 |
| Total non-current liabilities          |     |        | 2,339,147 |
| Total Indebtedness                     |     |        | 5,059,501 |

<div align='center'>67

DILUTION</div>

If you invest in the Class
A Ordinary Shares offered in this offering, your interest will be diluted immediately to the extent of the difference between the public
offering price per Class A Ordinary Share and the pro forma net tangible book value per share of our Class A Ordinary Shares after this
offering. As of December 31, 2024, our net tangible book value was approximately US$(1,580,327), or US$(69.4) per Class A Ordinary Share
after giving effect to the Reverse Share Splits. Our net tangible book value per common share is equal to total assets less intangible
assets and total liabilities, divided by the number of our outstanding Ordinary Shares. Net tangible book value dilution per share represents
the difference between the amount per Class A Ordinary Share paid by the new investors who purchase Class A Ordinary Share in this offering
and the pro forma net tangible book value per Class A Ordinary Share immediately after completion of this offering. After giving effect
to the assumed sale of 4,975,124 Class A Ordinary Share at an assumed public offering price of US$2.01 per share and after deducting
commissions and estimated offering expenses payable by us, our pro forma net tangible book value as of December 31, 2024 would have been
approximately US$ 7,119,672, or US$ 1.42 per share. This represents an immediate increase of net tangible book value of
approximately US$ 70.83 per share to our existing shareholders and an immediate dilution in net tangible book value of approximately
US$ 0.59 per share to purchasers of Class A Ordinary Shares in this offering. The following table illustrates this per share
dilution:

| Offering price per Class A Ordinary Share                                          
 Net tangible book