Company: BGLC
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001477932-25-008343
Chunk: 23

Company: BioNexus Gene Lab Corp
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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 11,795 Less: lease termination (3)  -   (25,679 )Foreign translation differences  12,446   1,908 Balance as of end of the year  183,746   210,557 Less: lease liability current portion  (56,803 )  (50,816 )Lease liability non-current portion $126,943  $159,741 

 18Table of Contents

BIONEXUS GENE LAB CORP. 

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025 AND 2024 

(Currency expressed in United States Dollars (“US$”)) 

(Unaudited)

 As of September 30, 2025 and December 31, 2024, the maturities of the operating lease obligation are as follows:   As of   September 30,  December 31,   2025  2024 Years ending September 30 and December 31:      2025  -   62,939 2026  66,940   62,311 2027  60,261   55,403 2028  54,570   45,166 2029  21,863   12,848 Total undiscounted cash flows  203,634   238,667 Less: Interest imputed on lease liabilities  (19,888 )  (28,110 )Present value of lease liabilities  $183,746  $210,557  (1) During the year ended December 31, 2024, the Company entered into a new operating lease of office space in Malaysia for 5 years. Additional right-of-use assets at $131,581 and lease liabilities at $131,581 were recognised upon the commencement of lease term. The Company also renewed the lease for the lab in Penang, Malaysia, for 2 years, with additional right-of-use assets of $14,155 and lease liabilities of $14,155 recognised upon the commencement of lease term. (2) The amortization of the operating lease right of use asset for the nine month period ended September 30, 2025 and 2024 were $41,666 and $35,507, respectively.