Company: NIVFW
Filing Date: 2025-08-21
Form Type: DRS
Source: 0001213900-25-079301
Chunk: 126

Company: NewGenIvf Group Ltd
Filing Date: 2025-08-21
Form: DRS
Chunk 126
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Interest expense

NewGenIvf’s interest
expense increased from US$46,179 in 2023 to US$778,656 in 2024 as a result of more interest expenses on convertible note issuance in 2024.

Tax income (expense)

NewGenIvf made no provision
for income taxes in 2024 and 2023. Thailand’s taxable income in 2024, if any, would be offset by the tax loss carryforward from
previous years. With the disposition of First Fertility Bishkek LLC in 2024, income tax liabilities, if any, in Kyrgyzstan would be borne
by the new shareholder of First Fertility Bishkek LLC. There was no assessable income generated from Hong Kong and Cambodia.

During the year ended December
31, 2024 excess provision of US$486,706 was reversed as they are no longer deemed to be payable.

Net income

NewGenIvf’s incurred
a net loss of US$474,101 in 2024 while there was a net income of US$108,418 in 2023.

Liquidity and Capital Resources

Cash flows and working capital

NewGenIvf’s principal
sources of liquidity have been cash flows generated from its business operations and external financing via various instruments. As of
December 31, 2024 and 2023, NewGenIvf had US$457,740 and US$54,104, respectively, in cash and cash equivalents. NewGenIvf had working
capital (defined as total current assets deducted by total current liabilities) of a surplus of $452,391 and US$79,000, respectively,
as of December 31, 2024 and 2023.

As of December 31, 2024, NewGenIvf
owed US$154,453 to shareholders. Nevertheless, NewGenIvf is able to generate sufficient cash flow from its business operations and financing
activities to operate and grow its business.

NewGenIvf continually seeks
to monetize from positive cash flow contracts and increase revenue from its operating activities. NewGenIvf monitors its current and expected
liquidity requirements to help ensure that it maintains sufficient cash balances to meet its existing and reasonably likely long-term
liquidity needs.

NewGenIvf intends to finance
its future working capital requirements and capital expenditures from cash generated from operating activities, in addition to funds raised
from financing activities. NewGenIvf may,