Company: BGLC
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001477932-25-002725
Chunk: 493

Company: BioNexus Gene Lab Corp
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1A
Chunk 493
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 Tech is an AI-driven wealth management platform for digital assets regulated by the National Futures Association (NFA), and is headquartered in Miami, Florida. This collaboration follows the announced Ethereum treasury strategy by BGLC, marking its commitment to technological and financial innovation.

Known Trends, Uncertainties, and Events

Looking ahead, we anticipate the following key developments will shape our operations:

 ·Full remediation of internal control deficiencies and establishment of a uniform group-level risk and compliance framework;    ·Continued expansion into digital healthcare markets, including the deployment of capital into Malaysian government co-investment projects;    ·Potential revenue acceleration through strategic alliances, mergers, or acquisitions facilitated by the Company’s investment banking advisor;    ·Active evaluation of cryptocurrency and blockchain-based financial infrastructure as a treasury diversification tool, pending completion of internal legal and compliance reviews.

 38Table of Contents

Result of Operations

Exchange Rates

Translation of amounts from RM (MYR) into US$1.00 has been made at the following exchange rates for the respective years:

  December 31,  December 31,   2024  2023        Year-end US$1.00: MYR exchange rate  4.4755   4.5900 

  January 1,  January 1,   2024 to  2023 to   December 31,  December 31,   2024  2023        Yearly average US$1.00: MYR exchange rate  4.5710   4.5658 

Results of Operations for the Year Ended December 31, 2024 Compared to the Year Ended December 31, 2023 (Audited).

The following table sets forth key components of the results of operations for fiscal years ended December 31, 2024 and 2023, respectively. 

The discussion following the table addresses these results.

Consolidated Year ended   December 31, (Audited)   2024  2023        REVENUE (including $112,556 and $106,919 of revenue from related parties for the year ended December 31, 2024 and 2023 respectively) $9,510,646  $9,770,806          COST OF REVENUE (including $297,736 and $184,433 of cost of revenue from related parties for the years ended December