Company: NIVFW
Filing Date: 2025-08-22
Form Type: DRS
Source: 0001213900-25-079717
Chunk: 215

Company: NewGenIvf Group Ltd
Filing Date: 2025-08-22
Form: DRS
Chunk 215
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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 $985,994 as 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
$2,000,000 of 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 $100,000,000 from White Lion Capital, of which approximately $7.1 million has been
drawn and become equity to date.

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
statements do not reflect adjustments that would be necessary if the going concern basis was not appropriate. If the going concern basis
was not appropriate for these consolidated financial statements, then adjustments would be necessary in the carrying value of the assets
and liabilities, the reported revenues and expenses, and the balance sheet classifications used. These adjustments could be material.

NOTE 4 — ACCOUNTS RECEIVABLE, NET

Accounts receivable, net consists of the following:

|                                          |     | December 31, |   2024 |   |     |   |  2023 |   |
|:-----------------------------------------|:----|:-------------|-------:|:--|:----|: