Company: NIVFW
Filing Date: 2025-04-22
Form Type: 20-F
Source: 0001213900-25-033966
Chunk: 169

Company: NewGenIvf Group Ltd
Filing Date: 2025-04-22
Form: 20-F
Item: Item 19
Chunk 169
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 statements,
increasing volatility in reported earnings but improving transparency. The standard applies to fiscal years beginning after December 15,
2024, and impacts both corporate treasuries and investment firms holding cryptocurrencies. This change aligns GAAP closer to fair value
accounting seen in other investment holdings, addressing criticisms of the old impairment approach.

Save for elsewhere disclosed,
the Company does not believe other recently issued but not yet effective accounting standards, if currently adopted, would have a material
effect on the Company’s consolidated balance sheet, statement of operations and comprehensive income (loss) and statement of cash
flows.

NOTE 3 - GOING CONCERN.

The accompanying consolidated financial statements have been prepared
assuming that the Company will continue as a going concern. The Company has generated a loss and suffered from an accumulated deficit
of $985,994as of December 31, 2024. These matters raise substantial doubt about the Company’s ability to continue as a going concern.
Management’s plans with regards to these include but not limited to issuance of share through equity line of credit with White Lion
Capital and conversion of JAK’s promissory notes. These financial statements do not include any adjustments that might result from
the outcome of this uncertainty.

The Company closely monitors
the market for opportunities and has also been carrying out various fundraising projects to improve the Company’s cash flow position.
As of this report date, all promissory notes as of December 31, 2024 have been settled, and convertible bonds comprising the Initial Note,
the First Mandatory Additional Note, and the Second Mandatory Additional Note, have been converted into shares in the Company. A further
$2,000,000of the Third Mandatory Additional Note was issued subsequent to year end and remains outstanding. Moreover, the Company has
access to an equity line of credit facility of up to $100,000,000from White Lion Capital, of which approximately $7.1million has been
drawn and become equity to date. As of this report date, the Company holds $2.48m cash in bank and a cash deposit of $1m with a trading
platform company.

The Company can make no assurance
that required financings will be available for the amounts needed, or on terms commercially acceptable to the Company, if at all. If one
or all of these events does not occur or subsequent capital raises are insufficient to bridge financial and liquidity shortfall, there
would likely be a material adverse effect on the Company and its financial statements.

The consolidated financial