Company: BGLC
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001477932-25-003821
Chunk: 20

Company: BioNexus Gene Lab Corp
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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)  3,364   11,795 Less: lease termination (3)  -   (25,679)Foreign translation differences  2,019   1,908 Balance as of end of the period/year  200,113   210,557 Less: lease liability current portion  (52,173)  (50,816)Lease liability non-current portion $147,940  $159,741 

 17Table of Contents

BIONEXUS GENE LAB CORP. 

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 

FOR THE THREE MONTHS ENDED MARCH 31, 2025 AND 2024 

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

(Unaudited)

As of March 31, 2025 and December 31, 2024 the maturities of the operating lease obligation are as follows:   As of   March 31,  December 31,   2025  2024 Years ending March 31 and December 31:      2025  -   62,939 2026  63,557   62,311 2027  61,020   55,403 2028  55,947   45,166 2029  39,407   12,848 2030  5,190   - Total undiscounted cash flows  225,121   238,667 Less: Interest imputed on lease liabilities  (25,008)  (28,110)Present value of lease liabilities  $200,113  $210,557  (1) During the year ended December 31, 2024, the Company entered into a new operating lease of office space in Malaysia for 5 years. Additional right-of-use assets at $131,581 and lease liabilities at $131,581 were recognised upon the commencement of lease term. The Company also renewed the lease for the lab in Penang, Malaysia, for 2 years, with additional right-of-use assets of $14,155 and lease liabilities of $14,155 recognised upon the commencement of lease term. (2) The amortization of the operating lease right of use asset for the period ended March 31, 2025 and 202