Company: NIVFW
Filing Date: 2025-05-01
Form Type: CORRESP
Source: 0001213900-25-038048
Chunk: 1

Company: NewGenIvf Group Ltd
Filing Date: 2025-05-01
Form: CORRESP
Chunk 1
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 see the disclosure on pages 8 and 83 of the F-1/A for further
information.

General

3. We note your disclosure on pages 8 and II-5 that, On January 21, 2025, the Company entered into a Purchase Agreement with Genetics & IVF Institute, Inc. to purchase the Membership Interest of MicroSort Lab Services, LLC, and that the MicroSort acquisition closed on February 28, 2025. Please provide us with your significance assessment for the business acquired and your analysis of whether you are required to file financial statements and pro forma financial information required by Rule 8-04 and Article 11 of Regulation S-X.

Response: The Company evaluated the acquisition
of MicroSort Lab Services, LLC (“MicroSort”) in accordance with Rule 8-04 of Regulation S-X which references Rule 3-05 of
Regulation S-X (“Rule 3-05”). Pursuant to Rule 3-05, a public company acquiror should disclose audited financial statements
and/or unaudited interim financial statements for the most recent period before the acquisition and the corresponding unaudited interim
statements for the same period in the prior year of an acquired business depending on certain quantitative tests that measure the significance
of the transaction to the acquiror. Audited or unaudited interim predecessor financial statements may be required when any of the Asset
Test, Income Test, and Investment Test pursuant to Rule 1-02 of Regulation S-X results in a significance level above 20%. Additionally,
according to Article 11 of Regulation S-X (“Article 11”), an acquiror may be required to furnish pro-forma historical financial
statements that give effect to the acquisition as if it occurred at a prior date for the same periods for which predecessor financial
statements are required.

However, the Company believes that it only acquired
MicroSort’s intellectual properties instead of a business as defined under Rule 11-01(d) of Regulation S-X. Acquired assets,
such as intellectual properties, that do not meet the SEC’s definition of a business are not subject to the reporting requirements
of Rule 3-05 or Article 11. Under Rule 11-01(d), the general principle for identifying a business is that there must be continuity
of the revenue-producing activity before and after the transaction, and the pre-acquisition financial information about the acquired business
is therefore material to an understanding of the registrant’s operations after the transaction. MicroSort does not meet the