Company: NIVFW
Filing Date: 2025-03-07
Form Type: F-1
Source: 0001213900-25-021404
Chunk: 202

Company: NewGenIvf Group Ltd
Filing Date: 2025-03-07
Form: F-1
Chunk 202
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 7,937 |   |     | $ | 1,360,168 |   |

| Note 1: | Refund of the deposits received from customer for services not rendered during 2023. China-based clients who prepaid for surrogacy and ancillary caring services requested refund of fees so such clients can appoint their own surrogate mothers in countries in which the Company does not conduct business. The Company sent the funds to accounts dictated by the clients and terminated service contract with those clients. |

F-24 NEWGENIVF LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED DECEMBER 31, 2023, 2022 AND 2021
(Stated in US Dollars)

NOTE 9 — LEASES

The Company has various operating leases for clinics and office spaces. The lease agreements do not specify an explicit interest rate. The Company’s management believes that the interest rate of 6.6% and 5% was the most indicative rate of the Company’s borrowing cost for the calculation of the present value of the lease payments.

As of December 31, 2023 and 2022, the right-of-use assets totaled $ 283,847, and $ 383,670, respectively.

As of December 31, 2023 and 2022, lease liabilities consist of the following:

|                                 |     | December 31, |    2023 |     |   |    2022 |
|:--------------------------------|:----|:-------------|--------:|:----|:--|--------:|
| Lease liabilities – current     
 portion                         |     | $            | 207,128 |     | $ | 184,651 |
| Lease liabilities – non-current 
 portion                         |     |              | 118,979 |     |   | 242,187 |
| Total                           |     | $            | 326,107 |     | $ | 426,838 |

Other lease information is as follows:

|                                                          |     | December 31, |            |   |     |      |            |   |
|                                                          |     |         2023 |            |   |     | 2022 |            |   |
| Weighted-average remaining lease term – operating leases |     |              | 0.92 years |   |     |      | 1.91 years |   |
| Weighted-average discount rate – operating leases        |     |              |