Company: NIVFW
Filing Date: 2025-10-31
Form Type: 424B3
Source: 0001213900-25-104469
Chunk: 259

Company: NewGenIvf Group Ltd
Filing Date: 2025-10-31
Form: 424B3
Chunk 259
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Company”), has resigned from the Board of Directors of the Company, the Audit Committee
of the Company, and the Compensation Committee of the Company due to personal reasons, effective April 4, 2025. Mr. Foo’s resignation
did not result from any disagreement with the Board or the Company on any matter relating to the Company’s operations, policies
or practices.

Ms. Florianna Ann Chi Wan
Chan was appointed as a director of the Company, effective April 15, 2025, to fill the vacancy on the Audit Committee and the Compensation
Committee created by Mr. Foo’s resignation. Ms Chan has over 20 years of experience in project management, real estate development,
and luxury hospitality, and is a proven leader in driving growth and operational excellence. Since 2015, Ms. Chan has led Lab Concept
Company Limited, a subsidiary of The Lane Crawford Joyce Group, where she successfully restructured operations, spearheaded rebranding,
and digitized processes, achieving significant revenue growth. Previously, she held senior roles at VCC Company Limited, Eton Properties,
and Crown Macau, excelling in real estate development, marketing, and VIP services. She holds a Bachelor of Hospitality Management from
Central Queensland University in Australia and an Advanced Diploma from William Angliss Institute of TAFE. Fluent in Cantonese, Mandarin,
and English, Ms. Chan brings a deep understanding of Asia Pacific markets and a strategic vision that will drive the Company’s
continued growth and success.

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NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The accompanying consolidated
financial statements reflect the accounts of the Company and all of its subsidiaries in which a controlling interest is maintained. All
inter-company balances and transactions have been eliminated in consolidation.

Management has prepared the
accompanying consolidated financial statements and these notes in accordance with accounting principles generally accepted in the United States
of America (“U.S. GAAP”). The Company maintains its general ledger and journals with the accrual method accounting.

The business combination
transaction between Legacy NewGenIvf and SPAC I was accounted for as a reverse recapitalization under ASC 805, Business Combinations,
with NewGenIvf Group Limited, and deemed to be the accounting acquirer. As SPAC I did not meet the definition of a business under ASC
805, the transaction was not treated as a business combination. Instead, it was accounted for as a recapitalization.

Accordingly, the