$BGLC

BioNexus Gene Lab Corp

CIK:0001737523|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME(LOSS) (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME(LOSS) (Unaudited)
REVENUE (Including $nil and $16,109 of revenue from related parties for the three-month period ended June 30, 2026 and 2025, respectively, and $nil and $32,179 of revenue from related parties for the six-month period ended June 30, 2026 and 2025, respectively)	$ 76,156	$ 2,260,253	$ 98,998	$ 4,397,328
COST OF REVENUE (Including $nil and $2,307 of cost of revenue from related parties for the three-month period ended June 30, 2026 and 2025, respectively, and $nil and $2,307 of cost of revenue from related parties for the six-month period ended June 30, 2026 and 2025, respectively)	(63,174)	(1,892,231)	(86,806)	(3,685,813)
GROSS PROFIT	12,982	368,022	12,192	711,515
OTHER INCOME
Dividend income	0	8,626	0	17,560
Interest income	21,183	29,768	38,362	53,336
Fair value gain on investments in equity securities	0	23,742	0	28,256
Reversal of expected credit losses	91,383	69,759	118,126	94,912
Gain from foreign exchange	46	0	5,663	0
Others	8,393	77,566	16,540	106,817
TOTAL OTHER INCOME	121,005	209,461	178,691	300,881
OPERATING EXPENSES
Sales and marketing	(36,022)	(608,427)	(88,755)	(1,149,122)
Research and development	(13,671)	(12,557)	(28,158)	(24,696)
General and administrative (Including $nil and $1,012 of rental expenses to related party for the three-month period ended June 30, 2026 and 2025, respectively, and $nil and $2,056 of rental expenses to related party for the six-month period ended June 30, 2026 and 2025, respectively)	(298,526)	(516,790)	(626,195)	(908,666)
Fair value loss on investments in equity securities	0	(51,002)	0	(119,499)
Provision for expected credit losses	(68,164)	0	(270,661)	(40,124)
TOTAL OPERATING EXPENSES	(416,383)	(1,188,776)	(1,013,769)	(2,242,107)
LOSS FROM OPERATIONS	(282,396)	(611,293)	(822,886)	(1,229,711)
FINANCE COSTS	(4,055)	(4,879)	(7,140)	(9,788)
LOSS BEFORE TAX	(286,451)	(616,172)	(830,026)	(1,239,499)
Tax expense	0	0	0	0
NET LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS	(286,451)	(616,172)	(830,026)	(1,239,499)
Other comprehensive (loss)/income
Foreign currency translation (loss)/gain	(28,360)	367,078	(6,460)	439,237
COMPREHENSIVE LOSS	$ (314,811)	$ (249,094)	$ (836,486)	$ (800,262)
Earnings per share - Basic and diluted	$ (0.118)	$ (0.343)	$ (0.343)	$ (0.690)
Weighted average number of common stocks outstanding, Basic and Diluted #	2,417,314	1,796,597	2,417,314	1,796,597

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (830,026)	$ (1,239,499)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization of operating lease ROU assets	31,193	27,312
Amortization of finance lease ROU assets	2,723	0
Allowances for expected credit losses	270,661	40,124
Recoveries for expected credit losses	(118,126)	(94,912)
Depreciation of property, plant and equipment	56,358	54,442
Dividend income	0	(17,560)
Fair value loss on investments in equity securities	0	91,243
Operating loss before working capital changes	587,217	1,138,850
Changes in operating assets and liabilities:
Inventories	23,811	173,001
Trade and other receivables	310,559	(368,335)
Other assets	(499,998)	0
Trade and other payables	212,487	(112,559)
Advance payment from customer	(34)	(84,531)
Operating lease liabilities	(30,019)	(13,401)
Tax liabilities	249	(17,304)
Net cash used in operating activities	(570,162)	(1,561,979)
Cash flows from investing activities:
Dividend income	0	17,560
Proceeds from maturity of fixed deposits	443,395	0
Change in fixed deposits placed with original maturities of more than three months	(19,660)	(31,227)
Payment for acquisition of right-of-use assets	(21,008)	0
Purchase of plant and equipment	(575)	(30,511)
Net cash generated from/(used in) investing activities	402,152	(44,178)
Cash flows from financing activities:
Advance from/ (Repayments to) Directors	75,133	(1,385)
Repayment of finance lease liabilities	(1,817)	0
Cash paid for fractional shares in reverse stock split	0	(505)
Net cash generated from/(used in) financing activities	73,316	(1,890)
Foreign currency translation adjustment	256	258,270
NET CHANGE IN CASH AND CASH EQUIVALENTS	(94,438)	(1,349,777)
CASH AND CASH EQUIVALENTS, BEGINNING OF FINANCIAL PERIOD	2,486,383	2,886,966
CASH AND CASH EQUIVALENTS, END OF FINANCIAL PERIOD	2,391,945	1,537,189
CASH AND CASH EQUIVALENTS INFORMATION:
Fixed deposits placed with financial institutions with original maturities of three months or less	1,159,287	723,010
Cash and bank balances	1,232,658	814,179
Cash and cash equivalents, end of financial period	2,391,945	1,537,189
Supplementary cash flow information:
Interest paid	(864)	(3,168)
Income tax paid	$ 0	$ (12,514)

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2026	Dec. 31, 2025
CURRENT ASSETS
Cash and bank balances	$ 1,232,658	$ 2,383,369
Fixed deposits placed with financial institutions (including $1,129,587 and $1,553,322 of fixed deposits with original maturities more than three months as of June 30, 2026 and December 31, 2025 respectively)	2,288,874	1,656,336
Trade receivables, net of allowance for credit losses of $849,330 and $703,995 as of June 30, 2026 and December 31, 2025 respectively (including $nil and $31,420 of trade receivables from related party as of June 30, 2026 and December 31, 2025 respectively)	15,544	505,885
Other receivables, deposits and prepayments	108,975	81,728
Other assets	583,331	83,333
Tax recoverable	61,135	61,384
Inventories	652,892	676,703
Total current assets	4,943,409	5,448,738
NON-CURRENT ASSETS
Operating lease right-of-use assets	146,542	177,737
Finance lease right-of-use assets	72,129	0
Property, plant and equipment, net	1,537,800	1,598,769
Investments in equity securities	2,026,543	2,027,540
Total non-current assets	3,783,014	3,804,046
TOTAL ASSETS	8,726,423	9,252,784
CURRENT LIABILITIES
Trade payables	7,896	2,335
Other payables and accrued liabilities (including $296,331 and $83,333 of other payables from related party as of June 30, 2026 and December 31, 2025 respectively)	608,537	401,611
Operating lease liabilities	56,677	59,147
Finance lease liabilities	6,865	0
Advance payment from customer	8,351	8,385
Amount owing to directors	124,612	49,479
Total current liabilities	812,938	520,957
NON-CURRENT LIABILITIES
Operating lease liabilities	89,350	116,899
Finance lease liabilities	45,693	0
Total non-current liabilities	135,043	116,899
TOTAL LIABILITIES	947,981	637,856
COMMITMENT AND CONTINGENCIES	0	0
STOCKHOLDERS' EQUITY
As at June 30, 2026, common stock, no par value; 300,000,000 shares authorized and 2,417,314 shares outstanding, and preferred stock, no par value; 30,000,000 shares authorized and no shares outstanding. As at December 31, 2025, common stock, no par value; 300,000,000 shares authorized and 2,417,314 shares outstanding, and preferred stock, no par value; 30,000,000 share authorized and no shares outstanding (on a post-reverse stock split basis)*.	20,174,795	20,174,795
Additional paid in capital	(5,011,891)	(5,011,891)
Accumulated deficit	(7,257,253)	(6,427,227)
Accumulated other comprehensive losses	(127,209)	(120,749)
TOTAL STOCKHOLDERS' EQUITY	7,778,442	8,614,928
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 8,726,423	$ 9,252,784