Company: BGLC
Filing Date: 2025-02-10
Form Type: PRE 14A
Source: 0001477932-25-000832
Chunk: 25

Company: BioNexus Gene Lab Corp
Filing Date: 2025-02-10
Form: PRE 14A
Chunk 25
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 that discussed below regarding the tax consequences of the Reverse Stock Split.

This discussion is limited to U.S. holders that hold Common Stock as a “capital asset” within the meaning of Section 1221 of the Code (generally, property held for investment). This discussion does not address all U.S. federal income tax consequences relevant to a U.S. holder’s particular circumstances, including the impact of the alternative minimum tax, the rules related to “qualified small business stock” within the meaning of Section 1202 of the Code or the Medicare contribution tax on net investment income. In addition, it does not address consequences relevant to U.S. holders subject to special rules, including, without limitation:

| · | U.S. expatriates and former citizens or long-term residents of the United States;                                                                                 |
| · | U.S. holders whose functional currency is not the U.S. dollar;                                                                                                    |
| · | Persons holding Common Stock as part of a hedge, straddle or other risk reduction strategy or as part of a conversion transaction or other integrated investment; |
| · | banks, insurance companies, and other financial institutions;                                                                                                     |
| · | real estate investment trusts or regulated investment companies;                                                                                                  |
| · | brokers, dealers or traders in securities;                                                                                                                        |
| · | corporations that accumulate earnings to avoid U.S. federal income tax;                                                                                           |
| · | S corporations, partnerships or other entities or arrangements treated as partnerships for U.S. federal income tax purposes (and investors therein);              |
| · | tax-exempt organizations or governmental organizations;                                                                                                           |
| · | persons deemed to sell Common Stock under the constructive sale provisions of the Code;                                                                           |
| · | persons who hold or received Common Stock pursuant to the exercise of any employee stock option or otherwise as compensation; and tax-qualified retirement plans. |

| 16 |

If an entity treated as a partnership for U.S. federal income tax purposes holds Common Stock, the tax treatment of a partner in the partnership will generally depend on the status of the partner, the activities of the partnership and certain determinations made at the partner level. Accordingly, partnerships holding Common Stock and the partners in such partnerships should consult their tax advisors regarding the U.S. federal income tax consequences to them.

THIS DISCUSSION IS FOR INFORMATION PURPOSES ONLY AND IS NOT TAX ADVICE. HOLDERS SHOULD CONSULT THEIR TAX ADVISORS WITH RESPECT TO THE APPLICATION OF THE U.S. FEDERAL INCOME TAX LAWS TO THEIR PARTICULAR S