Company: BGLC
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001477932-25-008343
Chunk: 60

Company: BioNexus Gene Lab Corp
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 60
---
 quarter ended September 30, 2025, as compared to a loss of $1,337,622 for the same quarter in the previous year. The loss from operations is due to the reasons discussed above.

Income tax expense. For the current quarter ended September 30, 2025, there is no provision of income tax expense for Chemrex as compared to tax expenses of $1,555 for the same quarter in the previous year. 

Foreign currency exchange gain. We are exposed to fluctuations in foreign exchange rates on the revaluation of monetary assets and liabilities denominated in currencies other than the US Dollar. Therefore, any change in the relevant exchange rate would require us to recognize a transaction gain or loss on revaluation. For the current quarter ended September 30, 2025, we experienced a foreign currency gain of $3,216 as compared with a foreign currency gain of $1,046,789 for the same quarter in the previous year.

Provision for expected credit losses. For the current three month period ended September 30, 2025, Chemrex has made an additional provision of $175,818 (100% of the total), compared to $2,374 (100% of the total) for the same period in the previous year. This represents a 7,306% increase. The significant increase was primarily due to a higher provision recognized for trade receivables, reflecting increased credit risk exposure and updated assessments of customer payment behavior during the current quarter. 

 40Table of Contents

Nine Months Ended September 30, 2025 compared with the Nine Months Ended September 30, 2024.

  MRNA Scientific and Chemrex Corporation   Provision for genomic screening services  Trading of industrial chemicals  Provision for genomic screening services  Trading of industrial chemicals   Nine months period ended September 30, 2025  Nine months period ended September 30, 2024              REVENUE $11,302  $6,929,849  $11,224  $6,975,567                  COST OF REVENUE  (4,995)  (5,846,956)  (6,723)  (5,999,781)                 GROSS PROFIT  6,307   1,082,893   4,501   975,786                  OTHER INCOME