Company: BGLC
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001477932-25-008343
Chunk: 27

Company: BioNexus Gene Lab Corp
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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   2,563 Net revenue  $6,941,151  $6,986,791  $2,543,823  $2,630,376                  Revenue by geographic area                Bangladesh  107,036   297,824   78,184   61,881 Malaysia  5,354,391   5,181,560   1,776,300   1,748,862 Maldives  677,333   562,524   356,684   235,694 Nigeria  -   26,123   -   - Singapore  240,093   540,500   108,247   439,541 Sri Lanka  448,523   314,957   193,053   128,473 Myanmar  -   19,465   -   - Indonesia  113,775   43,838   31,355   15,925 Net revenue $6,941,151  $6,986,791  $2,543,823  $2,630,376                  Timing of recognition:                 At a point in time  $6,941,151  $6,986,791  $2,543,823  $2,630,376  Revenue is derived from the sale of industrial chemicals and the provision of genomic screening services. Revenue from the sale of goods is recognized at a point in time when control of the goods is transferred to the customer. Credit terms are generally from 30 to 90 days. The Company allows returns only for exchanges with new goods. No warranties are given on the sale of goods. Revenue from services is recognized at a point in time when the final report is delivered to the customer. Credit terms for these services are generally from 30 days to 60 days. No warranties are given on the services rendered. In applying ASC 606, the Company does not exercise significant judgment in determining whether revenue from the sale of goods and services should be recognized at a point in time. The criteria for recognizing revenue at a point in time, such as the transfer of control of goods or completion of services, are clear and are based on established contract terms. Therefore, no significant judgment is required in