Company: BGLC
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001477932-25-008343
Chunk: 28

Company: BioNexus Gene Lab Corp
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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 determining the timing of revenue recognition.

 22Table of Contents

BIONEXUS GENE LAB CORP. 

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025 AND 2024 

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

(Unaudited)

NOTE 10 – RELATED PARTY TRANSACTIONS The following table provides details of the total revenue earned and expenses incurred from all related party transactions:    Three months ended   Nine months ended    September 30,  September 30,  September 30,  September 30,   2025  2024  2025  2024 Entities in which certain directors of a subsidiary have substantial financial interests            Sales of goods $25,649  $23,456  $57,632  $65,380 Purchases  (7,233 )  (192,171 )  (9,404 )  (293,770 )Rental of factory  (1,065 )  (1,006 )  (3,156 )  (1,006 ) The balances related to the above transactions with related parties are as disclosed in the Consolidated Balance Sheets which are interest-free, unsecured and subject to normal credit terms. 

NOTE 11 - CONCENTRATION OF RISKS a) Major customers For three months ended September 30, 2025, and 2024, respectively, the customers who accounted for 10% or more of the Company's revenues and its accounts received balance at period-end are presented as follows:   2025  2024  2025  2024  2025  2024   Revenues  Percentage of revenues  Accounts receivable trade Customer A $287,262  $-   11.29%  -  $240,594  $- Customer B $-  $388,520   -   14.77%  -  $61,438   $287,262  $388,520   11.29%  14.77% $240,594  $61,438  b) Major suppliers For three