Company: BGLC
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001477932-25-008343
Chunk: 24

Company: BioNexus Gene Lab Corp
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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 (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   September 30,  December 31,   2025  2024 Supplemental Cash Flow Disclosures:       Cash paid for amounts included in the measurement of lease liabilities:      Lease payment – operating leases $(48,977 ) $(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)  3.67   4.42 Weighted average discount rate for operating lease  6.65%  6.65% (4) Lease expenses for the nine month period ended September 30, 2025 and 2024 were $51,386 and $43,867 respectively.

 19Table 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)

NOTE 6 - PROPERTY, PLANT AND EQUIPMENT  Property, plant and equipment consisted of the following:    As of   September 30,  December 31,   2025  2024        Air conditioner  $1,124  $1,124 Computer and software  5,880   5,880 Equipment  65,360   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   161,148 Office equipment  41,108   37