Company: NIVFW
Filing Date: 2025-08-21
Form Type: DRS
Source: 0001213900-25-079301
Chunk: 238

Company: NewGenIvf Group Ltd
Filing Date: 2025-08-21
Form: DRS
Chunk 238
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 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, surrogacy, and ancillary
caring services, for total consideration of $15,000. The acquisition enhances the Company’s position in healthcare fertility sector.
The transaction was accounted for as a business combination under ASC 805, Business Combinations.

At the acquisition date,
Bi Clinic had not yet commenced revenue-generating activities but had established the necessary regulatory approvals and licensing framework
to operate as an IVF and surrogacy service provider. These approvals, along with the Company’s planned integration of medical personnel
and operational processes, provide the necessary inputs and substantive processes required to meet the definition of a business under
ASC 805.

Since Bi