Company: BGLC
Filing Date: 2025-08-18
Form Type: 10-Q
Source: 0001477932-25-006023
Chunk: 57

Company: BioNexus Gene Lab Corp
Filing Date: 2025-08-18
Form: 10-Q
Item: Part I, Item 1
Chunk 57
---
 above.

Income tax expense. For the current quarter ended June 30, 2025 there is no provision of income tax expense for Chemrex as compared to tax expenses of $55,584 for the same quarter in the previous year. 

Foreign currency exchange gain. We are exposed to fluctuations in foreign exchange rates on the revaluation of monetary assets and liabilities denominated in currencies other than the US Dollar. Therefore, any change in the relevant exchange rate would require us to recognize a transaction gain or loss on revaluation. For the current quarter ended June 30, 2025, we experienced a foreign currency gain of $367,078 as compared with a foreign currency gain of $2,463 for the same quarter in the previous year.

Provision for expected credit losses. For the current three month period ended June 30, 2025, Chemrex incurred $69,759 (100% of the total), compared to $552,663 (100% of the total) for the same period in the previous year. This represents a reduction of 87.4%, mainly due to improvements in the collection process.

 39Table of Contents

Segmented Information          MRNA Scientific and Chemrex Corporation   Provision for genomic screening services  Trading of industrial chemicals  Provision for genomic screening services  Trading of industrial chemicals   Six months ended June 2025  Six months ended June 2024              REVENUE $6,534  $4,390,794  $8,661  $4,347,754                  COST OF REVENUE  (4,131)  (3,681,682)  (4,605)  (3,698,059)                 GROSS PROFIT  2,403   709,112   4,056   649,695                  OTHER INCOME                Dividend income   -   17,560   -   20,827 Interest income  45,094   8,242   60,937   17,785 Fair value gain on investments in equity securities  -   28,256   -   173,317 Gain on disposal of investments in equity securities  -   -   -   14,298 Reversal of expected credit losses  -   94,912