Company: NIVFW
Filing Date: 2025-05-20
Form Type: F-1/A
Source: 0001213900-25-045737
Chunk: 187

Company: NewGenIvf Group Ltd
Filing Date: 2025-05-20
Form: F-1/A
Chunk 187
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 the borrowings using the effective interest method.

Convertible Instruments

Convertible Instruments are
categorized as equity or debt based on the terms of the notes. Convertible Notes are recorded at amounts equal to the proceeds of the
issuance, including the embedded conversion feature, and net of discounts and unamortized debt issuance in accordance with ASC 480-10-55-44
on the consolidated balance sheets. An evaluation of all conversion, purchase and redemption features contained in a debt instrument is
performed to determine if there are any embedded features that require bifurcation as a derivative. The conversion feature is recorded
separately as a derivative liability at its fair value, calculated using the Black-Scholes model.

Debt issuance and offering
costs are amortized over the contractual term of the Convertible Notes, to the consolidated statements of operations in accordance with
ASC 835-30-45-1A.

The convertible notes are
subsequently recorded at amortized cost, with interest expense recognized using the effective interest method. The derivative liability,
if any is remeasured at fair value at each reporting date and any gain or loss on fair value is recognized in the statement of comprehensive
income.

Promissory Notes

Promissory notes, originated from ASCA’s transaction and being
taken over by NewGenIVF Group Limited upon merger, are of non-interest bearing and recorded at original cost. They are subsequently measured
at amortised cost, with interest expense recognized using the effective interest method in the consolidated statement of income.

F-12

Ordinary shares

The Company’s ordinary
shares are stated at no par value. The difference between the consideration received, net of issuance cost, is recorded in additional
paid-in capital.

On January 21, 2025, the
Board of Directors of the Company approved a reverse stock split of all of the Company’s issued and unissued shares, including the
Class A ordinary shares with no par value (the “Class A Ordinary Shares”), Class B ordinary shares with no par value and preferred
shares with no par value, at an exchange ratio of one (1) share for twenty (20) shares (the “Reverse Stock Split”). Upon the
opening of the market on February 11, 2025, the Company’s Class A Ordinary Shares will begin trading on the Nasdaq Global Market
(“Nasdaq”) on a post-Reverse Stock Split basis.

On April 15, 2025, the Board of Directors of