Company: BGLC
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001477932-25-008343
Chunk: 96

Company: BioNexus Gene Lab Corp
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 2
Chunk 96
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% of the total), compared to $30,115 (100% of the total) for the same period in the previous year. This reflects an increase of 31.4% primarily due to the cost of reagents for BGS tests under R&D activities.

General and Administrative Expenses: For the current nine month period ended September 30, 2025, the total general and administrative expenses amounted to $1,354,357, compared to $1,667,036 for the same period in the previous year. This represents a decrease of 18.76%. The details by entity are as follows: 

MRNA Scientific incurred $261,005 (19.3%) of the total combined general and administrative of $1,354,357 for the current nine month period ended September 30, 2025, compared to $366,906 (22%) of the total combined general and administrative expenses of $1,667,036 for the same period in the previous year representing a decrease of 28.9%. The decrease was mainly attributable to lower unrealized foreign exchange losses during the current period. 

Chemrex incurred $492,464 (36.4%) of the total combined general and administrative expenses of $1,354,357, for the current nine month period ended September 30, 2025, compared to $427,829 (26%) of the total combined general and administrative expenses of $1,667,036 for the same period in the previous year  The increase of 15.11%, was mainly attributed to realized and unrealized foreign exchange losses, higher staff salaries, increased transport charges, additional costs related to the disposal of chemical waste, and increased training expenses.

BGLC, the parent company, incurred $600,888 (44.3%) of total general and administrative of $1,354,357 for the current nine month period ended September 30, 2025, compared to $872,301 (52%) of the total combined general and administrative expenses of $1,667,036 the same period in the previous year. This represents a decrease of 31.11% mainly due to lower legal fees and share base compensation.

Fair value loss on investments in equity securities: For the current nine month period ended September 30, 2025, Chemrex incurred a loss on investment in equity securities of $119,499 (100% of the total), compared to $179,433 (100% of the total) for the same period in the previous year,