Company: NIVFW
Filing Date: 2025-10-31
Form Type: 424B3
Source: 0001213900-25-104469
Chunk: 274

Company: NewGenIvf Group Ltd
Filing Date: 2025-10-31
Form: 424B3
Chunk 274
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 LIABILITIES

Contract liabilities consist of the following:

|                                       |     |   | June 30, 
     2025 |     |   | December 31, 
         2024 |   |
|:--------------------------------------|:----|:--|---------:|:----|:--|-------------:|:--|
| Balance at beginning of year          |     | $ |   63,489 |     | $ |        7,937 |   |
| Additions                             |     |   |    3,287 |     |   |       75,340 |   |
| Recognized to revenue during the year |     |   |        - |     |   |      (19,788 | ) |
| Refund to customers (Note 1)          |     |   |        - |     |   |            - |   |
| Balance at end of year                |     | $ |   66,776 |     | $ |       63,489 |   |

| Note 1: | Refund to customers is                                                                                                               
 in relation to China-based clients who prepaid for surrogacy and ancillary caring services but requested for refund of fees so that  
 they may appoint their own surrogate mothers in countries in which the Company does not conduct business. The Company sent the funds 
 to accounts dictated by the clients and terminated service contract with those clients.                                              |

NOTE 9 — CONVERTIBLE NOTES AND DERIVATIVE LIABILITY AND WARRANTS

Convertible Notes

|                                                      |     |   |  June 30, 
      2025 |     |     | December 31, 
         2024 |
|:-----------------------------------------------------|:----|:--|----------:|:----|:----|-------------:|
| Convertible notes, at amortised cost are as follows: |     |   |           |     |     |              |
| Convertible notes at amortised cost                  |     | $ | 3,589,560 |     |     |    3,059,595 |
| Less: Deferred debt issuance cost                    |     | $ |   155,556 |     |     |      648,232 |
| Convertible notes, net                               |     | $ | 3,434,004 |     |     |    2,411,363 |

As of June 30, 2025, the Company had the following
outstanding convertible notes:

| Note Holders