Company: BGLC
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001477932-25-002725
Chunk: 83

Company: BioNexus Gene Lab Corp
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 83
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Executive Summary and Strategic Outlook

The Company is pleased to present its fiscal year 2024 Form 10-K, highlighting significant progress in core business operations, robust liquidity, strategic innovation initiatives, and proactive governance enhancements.

Financial Strength and Stability

The Company ended 2024 with a strong cash position of approximately USD $4.37 million, minimal debt, and robust liquidity. This positions us ideally to capture strategic growth opportunities, invest in technology advancements, and navigate market uncertainties confidently.

Innovative Growth and Forward-Looking Initiatives

In 2024, BGLC proactively embraced digital health technology, advanced molecular diagnostics, and blockchain-based treasury management—positioning the company at the forefront of innovation. Our recently adopted Ethereum treasury strategy underscores our commitment to efficiency, transparency, and strategic foresight.

Corporate Governance and Compliance Leadership

We have proactively addressed Nasdaq compliance challenges, including implementing a strategic reverse stock split, demonstrating a firm commitment to maintaining our valuable Nasdaq listing and shareholder value.  The Company is focused on active expansion of our business through both organic and inorganic means, and has retained industry leading support to support our financial growth and capital raising efforts.

Future Outlook

Looking forward, BGLC anticipates continued strategic expansion into high-growth sectors, driven by robust corporate governance, innovative technologies, and sustained financial resilience. We are confident our actions will translate into sustainable shareholder value and long-term strategic advantages.

Overview

The Company, through its wholly owned subsidiary Chemrex, focuses on the sale of chemical raw materials for the manufacture of industrial, medical, appliance, aero, automotive, mechanical, and electronic industries in the Southeast Asia region. These countries include Malaysia, Indonesia, Vietnam, and other countries in Southeast Asia.

In addition, the Company, through its wholly owned subsidiary, MRNA Scientific, is in the business of developing and providing safe, effective, and non-invasive liquid biopsy tests for the early detection of biomarkers that we believe are linked to diseases to minimize treatment costs and improve patient management. Our non-invasive blood tests provide analysis of changes in RNA to detect the potential risk of 11 different diseases.

Corporate History

The Company was incorporated in the State of Wyoming on May 12, 2017. On August 23, 2017, the Company acquired all of the outstanding capital stock of MRNA Scientific Sdn. Bhd. (formerly BioNexus Gene Lab Sdn. Bhd), a Malaysian corporation incorporated in Malaysia on April 7, 2015, which it then subsequently