Company: NIVFW
Filing Date: 2025-08-21
Form Type: DRS
Source: 0001213900-25-079301
Chunk: 223

Company: NewGenIvf Group Ltd
Filing Date: 2025-08-21
Form: DRS
Chunk 223
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            |        - |   |     | $    | - |
| Add: capitalized during the year |     |              |  929,500 |   |     |      | - |
| Less: amortized during the year  |     |              | (281,268 | ) |     |      | - |
| Ending balance                   |     | $            |  648,232 |   |     | $    | - |

The following table sets
forth the Company’s contractual obligations as of December 31, 2024 relating to the convertible notes:

|                    |     | 2024 |           |
| Convertible bonds- |     |      |           |
| 2025               |     |      |   516,250 |
| 2026               |     |      |   457,250 |
| 2027               |     |      |   457,250 |
| 2028               |     |      |   507,250 |
| 2029               |     |      | 3,269,625 |
| Total              |     |      | 5,207,625 |

Promissory Notes

|                                  |     | December 31, 
 2024         |           |     | 2023 |   |
|:---------------------------------|:----|:-------------|----------:|:----|:-----|:--|
| Balance at beginning of the year |     | $            |         - |     | $    | - |
| Issued during the year           |     |              | 1,453,861 |     |      | - |
| Waiver of liability              |     |              |   953,861 |     |      | - |
| Ending balance                   |     | $            |   500,000 |     | $    | - |

As of December 31, 2024,
the Company has outstanding non-interest-bearing unsecured promissory notes with a total principal balance of US$500,000, which was settled
fully in February 2025.

Derivative liability

Pursuant to ASC 815, a derivative
liability had arisen from the issuance of convertible bonds which have the option of being converted to or exchanged for Class A ordinary
shares at any time from date of issuance. The derivative liability is assessed to be a debt requiring to be bifurcated from the host
contract and recorded at the fair value.

However, the conversion