Company: NIVFW
Filing Date: 2025-08-22
Form Type: DRS
Source: 0001213900-25-079717
Chunk: 240

Company: NewGenIvf Group Ltd
Filing Date: 2025-08-22
Form: DRS
Chunk 240
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 this report, $3,150,000 convertible notes outstanding as of December 31, 2024 had been converted to additional 259,425
Class A ordinary shares while Promissory Notes of $500,000 outstanding as of December 31, 2024 were settled. A further 166,000 shares
totaling $5,193,763 were issued under the Equity Line of Credit with White Lion.

Other than the events mentioned
above, there have been no other subsequent events noted till the date of these financial statements.

NOTE 23 — RECLASSIFICATION AND COMPARATIVE FIGURES

Certain prior year amounts
have been reclassified to conform to the current year’s presentation. These include the re-presentation of share-based compensation
to consultants pursuant to service agreements. In the prior year, compensation for future services to be rendered were recorded as subscription
receivables in the Statement of Equity. In the current year, these compensation for services has been reclassified and measured at the
fair value of the shares issued as compensation at grant date in accordance with ASC 718. This reclassification had no effect on previously
reported net income.

The comparative figures
in the consolidated balance sheets, statement of equity, consolidated statements of cash flows, together with the accompanying notes,
where relevant reflect those of the Company after the reverse takeover and reorganization process in 2024, and accordingly differs from
those audited and reported on by the predecessor auditor on NewGenIvf Limited, the legal acquiree and accounting acquirer, arising from
the application of ASC 805, which requires retrospective application. The difference mainly impacts the equity in the consolidated balance
sheets, the statement of equity and the consolidated statements of cash flows, including the relevant notes.

<div align='center'>F-33

PART II

INFORMATION NOT REQUIRED IN PROSPECTUS</div>

Item 6. Indemnification of Directors, Officers and Employees

British Virgin Islands law
does not limit the extent to which a company’s memorandum and articles of association may provide for indemnification of officers
and directors, except to the extent any such provision may be held by the British Virgin Islands courts to be contrary to public policy,
such as to provide indemnification against willful default, civil fraud or the consequences of committing a crime. Under our Memorandum
and Articles of Association, we may indemnify our directors, officers and liquidators against all expenses, including legal fees, and
against all judgments, fines and amounts paid in settlement