Company: BGLC
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001477932-25-003821
Chunk: 21

Company: BioNexus Gene Lab Corp
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 21
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4 were $13,379 and $9,448, respectively. (3) The Company agreed to terminate its operating lease arrangement for office space in Malaysia effective August 31, 2024. Accordingly, at the date of termination of the operating lease, the Company expensed a right-of-use-asset, net of accumulated depreciation, of $25,094 and recorded a write-off of lease liability of $25,679, offset with deposit forfeited by landlord at $1,969, with a loss on lease termination recorded for $1,384.   As of    March 31,  December 31,   2025  2024 Supplemental Cash Flow Disclosures:       Cash paid for amounts included in the measurement of lease liabilities:      Lease payment – operating leases $(15,827) $(56,598)Operating lease liabilities obtained in exchange for operating lease assets  -   145,736          Other information:         Weighted average remaining lease term for operating lease (years)  4.17   4.42 Weighted average discount rate for operating lease  6.65%  6.65% (4)  Lease expenses for the period ended March 31, 2025 and 2024 were $16,743 and $11,478 respectively. 

 18Table of Contents

BIONEXUS GENE LAB CORP. 

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 

FOR THE THREE MONTHS ENDED MARCH 31, 2025 AND 2024 

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

(Unaudited)

NOTE 6 - PROPERTY, PLANT AND EQUIPMENT  Property, plant and equipment consisted of the following:    As of   March 31,  December 31,   2025  2024        Air conditioner  $1,124  $1,124 Computer and software  5,880   5,880 Equipment  65,214   65,214 Furniture and fittings  98,883   98,883 Lab equipment  320,102   320,102 Land and buildings  1,506,969   1,506,969 Motor vehicle  161,148   161,