Company: NIVFW
Filing Date: 2025-08-21
Form Type: DRS
Source: 0001213900-25-079301
Chunk: 46

Company: NewGenIvf Group Ltd
Filing Date: 2025-08-21
Form: DRS
Chunk 46
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 uncertainties not presently known to us or that we currently deem immaterial may also affect our operations.
If any risks actually occur, our business, financial condition and results of operations may be materially and adversely affected. In
such an event, the trading price of our Class A Ordinary Shares could decline and you could lose part or all of your investment.

Additionally, we are also
subject to the following risk factors.

Risks Related to NewGenIvf’s Business and Industry

We may not be able to continue operating as a going concern.

As of December 31, 2024, the
Company’s cash and cash equivalents stood at approximately US$457,740. While the Company does not have immediate challenges to settle
its obligations when payments become due, the Company can make no assurance that it will have sufficient capital to bridge potential financial
and liquidity shortfalls.

The Company is always closely
monitoring the market for opportunities and has also been carrying out various fundraising projects to improve the Company’s cash
flow position. As of April 10, 2025, all promissory notes as of December 31, 2024 have been settled, and convertible bonds comprising
the Initial Note, the First Mandatory Additional Note, and the Second Mandatory Additional Note, have been converted into shares in the
Company. A further US$2,000,000 of the Third Mandatory Additional Note was issued subsequent to the 2024 year end and remains outstanding.
Moreover, the Company has access to an equity line of credit facility of up to US$100,000,000 from White Lion Capital, of which approximately
US$11.66 million has been drawn and become equity to date.

The Company can make no assurance
that required financings will be available for the amounts needed, or on terms commercially acceptable to the Company, if at all. If one
or all of these events does not occur or subsequent capital raises are insufficient to bridge financial and liquidity shortfall, there
would likely be a material adverse effect on the Company and its financial statements.

The consolidated financial
statements do not reflect adjustments that would be necessary if the going concern basis was not appropriate. If the going concern basis
was not appropriate for these consolidated financial statements, then adjustments would be necessary in the carrying value of the assets
and liabilities, the reported revenues and expenses, and the balance sheet classifications used. These adjustments could be material.

The fertility market in which NewGenIvf participates is competitive, and if NewGenIvf does not continue to compete effectively