Company: BGLC
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001477932-25-008343
Chunk: 90

Company: BioNexus Gene Lab Corp
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 2
Chunk 90
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 are as follows: 

MRNA Scientific incurred $55,835 (12.5%) of the total combined general and administrative of $445,691 for the current quarter ended September 30, 2025, compared to $255,477 (32.2%) of the total combined general and administrative expenses of $792,413 for the same quarter in the previous year representing a decrease of 78.1%. The significant decrease was primarily attributable to the reduction in unrealized foreign exchange losses during the current quarter. In the corresponding quarter of the previous year, unrealized foreign exchange losses amounted to $207,405.

Chemrex incurred $205,740 (46.2%) of the total combined general and administrative expenses of $445,691, compared to $175,667 (22.2%) of the total combined general and administrative expenses of $792,413 for the same quarter in the previous year, an increase of 17.12%. The increase was primarily due to losses of realized and unrealized foreign exchange during the period and transport charges. 

BGLC, the parent company, incurred $184,116 (41.3%) of total general and administrative of $445,691 for the current quarter ended September 30, 2025, compared to $361,269 (45.6%) of the total combined general and administrative expenses of $792,413 for the same quarter in the previous year. This represents a decrease of 49% was primarily due to the absence of share-based compensation expenses during the current quarter, which for the previous year was incurred due to consulting agreements entered into in 2024.

Fair value loss on investments in equity securities: For the current quarter ended September 30, 2025, Chemrex did not recognize any fair value loss on investments in equity securities, compared to a fair value loss of $76,000 (100% of the total) for the same quarter in the previous year.  This represents a 100% reduction due to the full disposal of equity investments during the current quarter.

Loss from Operations. We had a loss from operations of $702,509 for the current 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