Company: BGLC
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001477932-25-008343
Chunk: 67

Company: BioNexus Gene Lab Corp
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 67
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 with the Company’s overall strategic plans.

Our primary uses of cash had been for operations and strategic investments. The main sources of cash were generated from operational revenues, the private placement of our common stock, and the proceeds of our public offering. The following trends could result in a material decrease in our liquidity over the near to long term:

 ·Addition of administrative and marketing personnel as the business grows, ·Increases in advertising and marketing in order to attempt to generate more revenues, and ·The cost of being a public company.

The Company believes that cash flow from operations together will be sufficient to sustain its current level of operations for at least the next 12 months of operations.

The following is a summary of the Company’s cash flows (used in) / generated from operating, investing, and financing activities for the nine months ended September 30, 2025, and 2024

  Nine months ended   September 30,   2025  2024        Net cash used in operating activities $(2,799,444) $(2,312,463)Net cash generated from / (used in) investing activities  950,468   (136,200)Net cash generated from financing activities  32,297   146,362 Foreign currency translation adjustment  286,805   449,940 Net Change in Cash and Cash Equivalents $(1,529,874 ) $(1,852,361 )

Operating Activities

During the nine months ended September 30, 2025, the Company incurred a net loss of $(1,948,490) which, after adjusting for amortization, depreciation, dividend income, allowances for expected credit losses, recovery for expected credit losses, fair value loss on investment in equity securities, gain on disposal on share investment, an increase in trade and other receivables, a decrease in inventories, advance payment from customer, trade and other payables, and operating lease liabilities, resulted in net cash of $(2,799,444) being used in operating activities during the nine months ended September 30, 2025.

By comparison, during the same period last year, the Company incurred a net loss of $(1,250,023) which, after adjusting for amortization, depreciation, dividend income, allowances for expected credit losses, recovery for expected credit losses, fair value gain on share investment, gain on disposal on share investment, loss arising from settlement of supplier contract dispute, a decrease in