Company: NIVFW
Filing Date: 2025-10-10
Form Type: F-1/A
Source: 0001213900-25-098135
Chunk: 253

Company: NewGenIvf Group Ltd
Filing Date: 2025-10-10
Form: F-1/A
Chunk 253
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 |      929,500 |   |
| Less: amortized during the year  |     |   | (648,232 | ) |     |   |     (281,268 | ) |
| Ending balance                   |     | $ |  155,556 |   |     | $ |      648,232 |   |

Derivative liability

Pursuant to ASC 815, a derivative liability had arisen from the issuance of convertible bonds which have the option of being converted to or exchanged for Class A ordinary shares at any time from date of issuance. The derivative liability is assessed to be a debt requiring to be bifurcated from the host contract and recorded at the fair value.

However, the conversion to ordinary shares is subject to certain terms and criteria as set within the Agreement, which includes restriction of conversion if the shareholdings by the note holder before and after the conversion exceeds 9.99%, as revised. As of June 30, 2025, the threshold has been met, and accordingly the derivative is assessed to have no value.

Free standing instruments – warrants

The convertible bond agreements as mentioned above granted the note holders 1,292,306series A warrant, 609,554series C warrant, allowing the warrant holders to purchase additional Class A ordinary shares at an exercise price of $ 1.76and $ 1.76, respectively.

The exercise of these warrants is subject to a 9.99% beneficial cap, as revised, which restricts the holder from exceeding shareholdings in excess of the cap in the Company. As of June 30, 2025, the threshold has been met, and accordingly the derivative is assessed to have no value.

F-54

NOTE 11 — LEASES

The Company has various operating leases for clinics and office spaces. The lease agreements do not specify an explicit interest rate. The Company’s management believes that the interest rate of 6.6% and 5.5% was the most indicative rate of the Company’s borrowing cost for the calculation of the present value of the lease payments.

As of June 30, 2025 and December 31, 2024, the right-of-use assets totaled $ 1,006,397, and $ 98,570, respectively.

As of June 30, 2025 and December 31, 2024, lease liabilities consist of the following:

| Operating lease                 |     | 2025 |           |     | 202