Company: NIVFW
Filing Date: 2025-03-07
Form Type: F-1
Source: 0001213900-25-021404
Chunk: 190

Company: NewGenIvf Group Ltd
Filing Date: 2025-03-07
Form: F-1
Chunk 190
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 is recognized using the following five steps:

| (1) | identify                      
 its contracts with customers; |

| (2) | identify                                           
 its performance obligations under those contracts; |

| (3) | determine                                  
 the transaction prices of those contracts; |

| (4) | allocate                                                                      
 the transaction prices to its performance obligations in those contracts; and |

| (5) | recognize                                                                                          
 revenue when each performance obligation under those contracts is satisfied. Revenue is recognized 
 when promised services are transferred to the client in an amount that reflects the consideration  
 expected in exchange for those services.                                                           |

The Company enters into service agreements with its customers that outline the rights, responsibilities, and obligations of each party. The agreements also identify the scope of services, service fees, and payment terms. Agreements are acknowledged and signed by both parties. All the contracts have commercial substance, and it is probable that the Company will collect considerations from its customers for service component.

F-14 NEWGENIVF LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED DECEMBER 31, 2023, 2022 AND 2021
(Stated in US Dollars) NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) Revenue recognition (cont.) The Company derives its revenues from two sources: (1) revenue from IVF treatment, and (2) revenue from surrogacy and ancillary caring services. Revenue from IVF treatment In vitro fertilization (“IVF”) treatment is an assisted reproductive technique where eggs and sperm are collected and fertilized in laboratory to become embryo. Fertilized embryo is then implanted to the customer or a surrogate mother. IVF treatment involves the performance of a series of medical treatment and procedures that are not separately distinct and only brings benefits to customer when embryo is successfully implanted, therefore revenue from IVF treatment is recognized at a point in time when it is completed in clinic. The completion of this treatment is evidenced by a written IVF report indicating successful embryo implantation. The Company collects payment from customer in advance for IVF treatment. The amount of revenue recognized from contract liabilities to the Company’s result of operations can be found in Note 8 below. Revenue from surrogacy and ancillary caring services The Company provides surrogacy and ancillary caring services solely in Kyrgyzstan. Embryo from blood parents is implanted to surrogate mother contracted by the Company. During pregnancy period, the Company provides ancillary caring services including regular