Company: NIVFW
Filing Date: 2025-04-22
Form Type: 20-F
Source: 0001213900-25-033966
Chunk: 185

Company: NewGenIvf Group Ltd
Filing Date: 2025-04-22
Form: 20-F
Item: Item 19
Chunk 185
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iver of related party balance of Mr. Siu Wing Fung, Alfred                                 —                ( 88,151                —        
  Coupon interest expense to JAK Opportunities                                           308,751                —                       —        
  Conversion of convertible note to shares to JAK Opportunities                        2,650,000                —                       —        

NOTE 18 - LOAN TO A SPAC I

On June 12, 2023, NewGenIvf
Limited (the “ Legacy NewGenIvf”) and A SPAC I Acquisition Corp (“ A SPAC I”) entered into a First Amendment
to Merger Agreement, pursuant to which the Legacy NewGenIvf agreed to provide non-interest bearing loans in an aggregate principal
amount of up to $560,000(the “ Loan”) to A SPAC I to fund amounts required to further extend the period of time available
for A SPAC I to consummate a business combination, and for working capital and payment of professional, administrative and operational
expenses, and other purposes as mutually agreed by A SPAC I and the Legacy NewGenIvf. The Loan will only become repayable upon the
closing of the Acquisition Merger. As of December 31, 2023, $140,000was outstanding under the loan. The Legacy NewGenIvf completed the
business combination with A SPAC I Acquisition Corp on April 3, 2024. After the combination, the balance of loan to ACSA was eliminated
in the subsequent period.

NOTE 19 - COMMITMENTS &CONTINGENCIES

As of December 31, 2024 and
2023, the Company was not a party to any legal or administrative proceedings. As of December 31, 2024, the Company had commitment as described
in Notes 10 and 11 to the financial statements.

The Company is also committed
to honor its obligations pursuant to the convertible note agreements as described in Note 10

F-29

NOTE 20 - DISPOSAL
OF SUBSIDIARY

On December 18, 2024, the
Company completed the sale of its First Fertility Bishkek LLC to an unrelated third party for total consideration of US$11, consisting
of cash.

As part of the disposal,
all the outstanding account payables and receivables as well as all outstanding balances between the First Fertility Bishkek LLC and Harcourt,
FFPGS, and the Director were transferred to the Seller. Any tax liabilities in Kyrgyzstan