Company: NIVFW
Filing Date: 2025-08-22
Form Type: DRS
Source: 0001213900-25-079717
Chunk: 210

Company: NewGenIvf Group Ltd
Filing Date: 2025-08-22
Form: DRS
Chunk 210
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maintained in the patient file. The receipt of consideration is assured as payment is required upfront.

<div align='center'>F-15</div>

Principal versus agency considerations

The Company follows the guidance
provided in ASC 606, Revenue from Contracts with Customers, for determining whether the Company is the principal or an agent in arrangements
with customers that involve another party that contributes to the provision of services to a customer. In these instances, the Company
determines whether it has promised to provide the service itself (as principal) or to arrange for the specified service to be provided
by another party (as an agent). This determination is a matter of judgment that depends on the facts and circumstances of each arrangement.
The Company recognizes revenue from the performance of the procedures and treatment on a gross basis as the Company is responsible for
the fulfillment, controls the delivery of the promised service, and has full discretion in establishing prices and therefore is the principal
in the arrangement.

Contract related assets and
liabilities are classified as current assets and current liabilities. Significant balance sheet accounts related to the revenue cycle
are as follows:

Account receivables, net

Accounts receivable, net
are stated at the original amount less an allowance for expected credit loss on such receivables. The allowance for expected credit loss
is estimated based upon the Company’s assessment of various factors including historical experience, the age of the accounts receivable
balances, current general economic conditions, future expectations and customer specific quantitative and qualitative factors that may
affect the Company’s customers’ ability to pay. An allowance is also made when there is objective evidence for the Company
to reasonably estimate the amount of probable loss.

Contract liabilities

Contract liabilities represent
considerations received from customers in advance of satisfying the Company’s performance obligations under the contract. These
amounts are expected to be earned within 12 months and are classified as current liabilities.

Expected credit loss

ASU No. 2016-13, Financial
Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments requires entities
to use a current lifetime expected credit loss methodology to measure impairments of certain financial assets. Using this methodology
will result in earlier recognition of losses than under the current incurred loss approach, which requires waiting to recognize a loss
until it is probable of having been incurred. There are other provisions within the standard that affect how impairments of other financial
assets may be recorded and presented, and that expand disclosures. Expected credit losses are probability-weighted