Company: BGLC
Filing Date: 2025-02-28
Form Type: DEFR14A
Source: 0001477932-25-001339
Chunk: 25

Company: BioNexus Gene Lab Corp
Filing Date: 2025-02-28
Form: DEFR14A
Chunk 25
---
 not purport to be a complete analysis of all potential tax consequences that may be relevant to a U.S. holder. The effects of U.S. federal tax laws other than U.S. federal income tax laws, such as estate and gift tax laws, and any applicable state, local or non-U.S. tax laws are not discussed. This discussion is based on the U.S. Internal Revenue Code of 1986, as amended (the “Code”), Treasury Regulations promulgated thereunder, judicial decisions, and published rulings and administrative pronouncements of the IRS, in each case in effect as of the date hereof. These authorities may change or be subject to differing interpretations. Any such change or differing interpretation may be applied retroactively in a manner that could adversely affect a U.S. holder. We have not sought and do not intend to seek any rulings from the IRS regarding the matters discussed below. There can be no assurance the IRS or a court will not take a position contrary to that discussed below regarding the tax consequences of the Reverse Stock Split.

This discussion is limited to U.S. holders that hold Common Stock as a “capital asset” within the meaning of Section 1221 of the Code (generally, property held for investment). This discussion does not address all U.S. federal income tax consequences relevant to a U.S. holder’s particular circumstances, including the impact of the alternative minimum tax, the rules related to “qualified small business stock” within the meaning of Section 1202 of the Code or the Medicare contribution tax on net investment income. In addition, it does not address consequences relevant to U.S. holders subject to special rules, including, without limitation:

| · | U.S. expatriates and former citizens or long-term residents of the United States;                                                                                 |
| · | U.S. holders whose functional currency is not the U.S. dollar;                                                                                                    |
| · | Persons holding Common Stock as part of a hedge, straddle or other risk reduction strategy or as part of a conversion transaction or other integrated investment; |
| · | banks, insurance companies, and other financial institutions;                                                                                                     |
| · | real estate investment trusts or regulated investment companies;                                                                                                  |
| · | brokers, dealers or traders in securities;                                                                                                                        |
| · | corporations that accumulate earnings to avoid U.S. federal income tax;                                                                                           |
| · | S corporations, partnerships or other entities or arrangements treated as partnerships for U.S. federal income tax purposes (and investors therein);              |
| ·