Financial Position - As of March 31, 2025, the company had cash and cash equivalents of $3.6 million and total liquidity exceeding $6 million, providing a solid foundation for operational continuity and strategic investments [173]. - The company maintains a clean capital structure, free of preferred stock and convertible debt, positioning it favorably for growth initiatives [173]. - As of March 31, 2025, working capital decreased to $4,982,026 from $6,415,877 as of December 31, 2024, primarily due to operational losses and strategic investments [223]. - Net cash used in operating activities for Q1 2025 was $(824,072), compared to $(37,153) in Q1 2024 [225]. - Net cash used in investing activities for Q1 2025 was $(15,646), primarily due to the purchase of plant and equipment totaling $(9,052) [228]. - Net cash used in financing activities for Q1 2025 was $(860) due to a loan repayment, compared to a net cash generation of $26,930 in Q1 2024 [230]. - The company believes cash flow from operations will be sufficient to sustain its current level of operations for at least the next 12 months [224]. Revenue and Expenses - For the quarter ended March 31, 2025, total revenue was $2,137,075, a decrease of 10.3% from $2,381,851 in the same quarter of 2024 [200]. - Chemrex contributed $2,134,007 (99.9%) of total revenue, reflecting a decline of 10.29% due to a slowdown in market demand and disruptions from Malaysian e-Invoicing requirements [201]. - MRNA Scientific's revenue was $3,068 (0.1%), down approximately 3.1% from $3,165, primarily due to fewer client referrals and a key RNA machine being under repair [202]. - Total cost of revenue for the quarter was $1,793,582, a decrease of 11.1% from $2,016,820 in the prior year [203]. - Gross profit for the quarter was $343,493, down approximately 5.9% from $365,031 in the same quarter of 2024 [206]. - Total other income decreased by approximately 54.7% to $91,420 from $201,847 in the prior year [209]. - Total operating expenses increased by approximately 63.3% to $1,053,331 from $645,906 in the same quarter of 2024 [212]. - Sales and marketing expenses surged by 251.4% to $540,695, primarily due to increased spending at Chemrex [212]. - General and administrative expenses rose to $391,876, an increase of 24.09% from $315,794 in the prior year [217]. - MRNA Scientific's research and development expenses slightly increased by 5.8% to $12,139 from $11,475 in the same quarter of 2024 [216]. - MRNA incurred $56,006 (14.29%) of total general and administrative expenses of $391,876 for Q1 2025, up from $38,275 (12.12%) in Q1 2024, representing a 46.3% increase [218]. - BGLC's general and administrative expenses were $210,737 (53.78%) of total expenses for Q1 2025, compared to $147,098 (46.58%) in Q1 2024, an increase of approximately 43.3% [219]. Operational Performance - Chemrex reported a loss from operations of $618,418 for Q1 2025, a significant increase of approximately 682.5% from a loss of $79,028 in Q1 2024 [219]. - Chemrex experienced a foreign currency gain of $72,159 in Q1 2025, compared to a loss of $209,908 in Q1 2024 [221]. Strategic Initiatives - The company is actively exploring additional capital-raising mechanisms, including at-the-market offerings and private placements, to support growth initiatives in digital health and decentralized financial infrastructure [174]. - The company reported a strategic investment in Ascension Innovation Sdn Bhd, enhancing its portfolio in the healthcare diagnostics sector [179]. - The company’s strategic focus includes expansion into digital healthcare, sustainable materials, and blockchain-based treasury solutions [175]. - The company’s leadership team is committed to maintaining robust compliance with Nasdaq listing standards as part of its growth strategy [177]. - The company has implemented additional protocols to strengthen compliance with corporate policies and regulatory requirements, particularly concerning related-party transactions at its Chemrex subsidiary [193]. - The company is focused on enhancing its internal control environment and improving governance procedures within its Chemrex subsidiary following recent transactions [194]. - The company successfully completed a reverse stock split at a ratio of 1-for-10, effective April 7, 2025, to regain compliance with Nasdaq Listing Rule 5550(a)(2) [195]. - The company achieved full compliance with Nasdaq Listing Rule 5550(a)(2) on April 30, 2025, after successfully maintaining a minimum bid price of $1.00 per share [187]. - The company plans to add administrative and marketing personnel and increase advertising to generate more revenues [231].

Core Points - BioNexus Gene Lab Corp. has regained full compliance with Nasdaq Listing Rule 5550(a)(2), confirming a minimum bid price of $1.00 per share [1] - This milestone signifies the company's commitment to growth and compliance, allowing it to pursue innovation, capital market engagement, and international expansion [2] - The CEO emphasized that this achievement reflects the company's strategic alignment and financial resilience, positioning it for future growth opportunities [3] Corporate Strategy - The company is implementing a multi-pronged strategy focused on reinforcing corporate governance, enhancing internal controls, and preparing for strategic partnerships and capital raising [4] - New independent board members have been appointed, and a dedicated internal audit function has been established to support long-term value creation initiatives [4] - The continued Nasdaq listing is seen as a foundation for scaling the company into a regionally integrated, innovation-driven enterprise [5] Business Operations - BioNexus Gene Lab Corp. specializes in RNA-based blood diagnostics and is a leading supplier of industrial chemical raw materials in Southeast Asia [5] - The company is expanding its RNA-based genomic diagnostics business, MRNA Scientific, and driving the adoption of non-invasive blood tests for major diseases [6] - The specialty materials subsidiary, Chemrex, aims to meet the growing demand for high-performance chemical raw materials while focusing on sustainable development [6]

Financial Performance - For the year ended December 31, 2024, total revenue was $9,510,646, a decrease of approximately 2.7% from $9,770,806 in 2023 due to increased competition and reduced selling prices[309]. - Cost of revenues for 2024 was $8,221,125, down 2.6% from $8,441,308 in 2023, reflecting lower sales[310]. - Gross profit for 2024 was $1,289,521, compared to $1,329,498 in 2023, indicating a decline in profitability[308]. - Other income surged to $2,072,473 in 2024, an increase of 326.4% from $486,036 in 2023, primarily due to a reversal of expected credit losses[311]. - Total operating expenses rose to $4,935,696 in 2024, an increase of approximately 11.9% from $4,409,122 in 2023[312]. - Sales and marketing expenses increased significantly by 240.4% to $2,030,684 in 2024, driven by higher directors' remuneration and travel expenses[313]. - Research and development expenses decreased by 13.6% to $47,511 in 2024, primarily due to a lab equipment malfunction affecting the IJN project[314]. - General and administrative expenses decreased by 19.2% to $1,973,968 in 2024, mainly due to lower professional fees related to the Nasdaq listing[315]. - The provision for expected credit losses decreased by 32.8% to $883,533 in 2024, reflecting improved credit conditions[316]. - The net loss attributable to common shareholders was $1,598,342 in 2024, a reduction of 39.3% from a loss of $2,629,043 in 2023[308]. Chemrex Financials - Chemrex's general and administrative expenses increased by 404.4% to $679,321 (34.4%) in 2024 from $134,678 (5.5%) in 2023[331]. - Chemrex's provision for expected credit losses decreased by 32.8% to $883,533 in 2024 from $1,314,427 in 2023, due to reduced provisions for doubtful debts and losses allowance[332]. - Chemrex reported a loss before tax of $203,092 (12.7%) in 2024, a decrease of 14.07% from a loss of $236,341 (9.1%) in 2023[334]. - As of December 31, 2024, Chemrex's working capital decreased to $5,479,146 from $6,415,877 in 2023, primarily due to operational losses and strategic investments[336]. - Net cash used in operating activities for Chemrex was $(2,234,260) in 2024, compared to $(1,822,212) in 2023[338]. - Chemrex generated net cash of $418,202 from investing activities in 2024, a significant improvement from $(1,794,202) used in 2023[341]. - Financing activities generated net cash of $144,975 in 2024, a sharp decline from $6,274,939 in 2023 due to the absence of IPO proceeds[344]. - Chemrex's total tax expense for 2024 was $3,494, compared to $31,182 in 2023, reflecting a significant reduction in tax provisions[335]. Strategic Initiatives - The company is actively exploring additional capital-raising mechanisms, including at-the-market offerings and private placements, to support growth initiatives in digital health and decentralized financial infrastructure[276]. - The company intends to pursue selective mergers, acquisitions, and joint ventures, leveraging its clean balance sheet and low compliance cost profile[277]. - A strategic investment was made in Ascension Innovation Sdn Bhd by the company's subsidiary, MRNA Scientific Sdn. Bhd.[283]. - The company announced a new Ethereum-focused treasury strategy, becoming the first Nasdaq-listed company to prioritize Ethereum as a strategic treasury asset[301]. - The company is expanding into digital healthcare markets and evaluating cryptocurrency and blockchain-based financial infrastructure as a treasury diversification tool[303]. - The company anticipates continued revenue acceleration through strategic alliances, mergers, or acquisitions facilitated by its investment banking advisor[303]. Compliance and Governance - The company received a notification from Nasdaq regarding non-compliance with the minimum bid price requirement, leading to a request for a hearing to appeal the delisting determination[288]. - A reverse stock split was approved with a ratio of 1-for-10, effective April 7, 2025, to help regain compliance with Nasdaq listing standards[299]. - The company has implemented enhanced governance controls and internal control improvements following concerns raised about its Chemrex subsidiary[300].

Core Insights - BioNexus Gene Lab Corp. filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2024, with the U.S. Securities and Exchange Commission [1] Financial Performance - The company ended 2024 with a strong cash position of over $4 million and total liquidity exceeding $6 million, demonstrating prudent capital management [3] - BioNexus reduced its year-over-year net loss by over 39%, indicating improved operational efficiency and cost discipline across its healthcare diagnostics and specialty chemicals divisions [3] Strategic Initiatives - The company approved a blockchain-native treasury strategy, becoming the first Nasdaq-listed issuer to prioritize Ethereum (ETH) as a core strategic reserve asset, aimed at enhancing capital efficiency [4] - BioNexus expanded its genomic diagnostics offerings under its MRNA Scientific division and entered into strategic partnerships to scale its molecular screening platform and AI-based health diagnostics initiatives [5] Compliance and Governance - To maintain its Nasdaq listing, the company executed a 1-for-10 reverse stock split on April 7, 2025, and expects to regain full compliance with the Nasdaq minimum bid price rule by or before May 1, 2025 [6] Leadership Perspective - The CEO highlighted 2024 as a foundational year for BioNexus, emphasizing the company's renewed strategic focus and commitment to leading in healthcare technology and decentralized finance [7]

Core Insights - BioNexus Gene Lab Corp. has announced a strategic partnership with ML Tech to enhance its Ethereum-based growth strategies, indicating a commitment to technological and financial innovation [1][2][4] - The collaboration aims to leverage ML Tech's advanced digital asset trading infrastructure to optimize BGLC's Ethereum holdings while ensuring stringent risk management [2][3] - This partnership aligns with BGLC's vision of integrating blockchain technologies into its financial operations, potentially leading to innovative financial structures in the open market [3][4] Company Overview - BioNexus Gene Lab Corp. is focused on pioneering advancements in the digital and healthcare sectors, aiming for sustainable growth and shareholder value [5] - ML Tech is an institutional digital asset platform that offers optimized portfolios and bespoke trading strategies, catering to institutional investors [6]

Core Insights - BioNexus Gene Lab Corp. (BGLC) has become the first Nasdaq-listed company to prioritize Ethereum (ETH) as a strategic treasury asset, aligning with Ethereum's inclusion in the US "Crypto Strategic Reserve" [1][2] - The company has released an Ethereum Strategy Whitepaper that outlines the rationale for this decision and Ethereum's significance as a financial infrastructure asset [2][4] Group 1: Board Approval and Strategic Direction - The Board of Directors has approved the new Ethereum-focused treasury strategy after extensive analysis, recognizing Ethereum as a strategic treasury management solution [3] - Wyoming's blockchain-friendly laws have influenced BGLC's strategic direction, providing a pro-business regulatory environment that supports blockchain innovation [3] Group 2: Ethereum Strategy Whitepaper - The Ethereum Strategy Whitepaper details Ethereum's institutional adoption, staking capabilities, and upcoming protocol upgrades, emphasizing its long-term value and corporate utility [2][4] - The whitepaper distinguishes Ethereum as a programmable financial platform, contrasting it with Bitcoin's store-of-value approach [4] Group 3: Future Commitments and Innovations - BGLC plans to explore Ethereum-based financial applications and innovative treasury management practices, while also assessing the impact of Wyoming's stablecoin issuance framework [5] - The company aims to enhance its financial resilience and attract forward-thinking investors by integrating Ethereum into its corporate treasury [8] Group 4: Ethereum's Financial Attributes - Ethereum is recognized for its institutional credibility, yield-generation capabilities through its Proof-of-Stake (PoS) system, and dominance in financial infrastructure, underpinning trillions of dollars in stablecoin transactions annually [6] - Upcoming upgrades, such as the major Pectra upgrade, are expected to enhance Ethereum's efficiency and scalability [6][7]

Revenue Performance - Revenue for the three months ended September 30, 2024, was $2,630,376, an increase of 3.0% compared to $2,553,686 for the same period in 2023[124] - Total revenue for the quarter ended September 30, 2024, was $2,630,376, representing a 3% increase from $2,553,686 in the same quarter of 2023[126] - For the nine months ended September 30, 2024, total revenue was $6,986,791, a 6.8% decrease from $7,497,739 in the same period of 2023[146] - Chemrex's revenue for the nine-month period decreased by $493,704, representing a decline of 6.61% from the previous year[147] - MRNA Scientific's revenue decreased by 84.5% to $2,563, reflecting a decline from $16,536 in the same quarter of 2023 due to fewer client referrals[128] Profitability - Gross profit for the three months ended September 30, 2024, was $326,536, a decrease of 7.8% from $354,332 in the prior year[124] - Gross profit for the quarter was $326,536, down 7.8% from $354,332 in the same quarter of 2023[131] - Total gross profit for the nine months ended September 30, 2024, was $980,287, reflecting a decrease of approximately 7.8% from $1,062,943 in 2023[152] - Chemrex contributed $975,786 (99.5%) to the total gross profit, down from $1,049,324 (98.7%) in the prior year, marking a 7.01% decrease[153] - MRNA Scientific's gross profit decreased by 67% to $4,501, contributing 0.5% to the total gross profit, down from $13,619 (1.3%) in the previous year[154] Expenses and Losses - Cost of revenue for the quarter was $2,303,840, a 4.8% increase from $2,199,354 in the prior year[129] - Total operating expenses decreased by approximately 30.9% to $2,129,685 from $3,082,128 in the same quarter of 2023[137] - Loss from operations was $1,337,622, reflecting a reduction of approximately 47.1% from a loss of $2,528,512 in the same quarter of 2023[141] - Operating expenses totaled $3,535,248, a decrease of 20.1% from $4,426,077 in the same period last year[158] - The company reported a loss from operations of $1,157,482, a significant improvement from a loss of $2,851,342 in the prior year, representing a 59.4% decrease[162] Other Income and Gains - The company reported other income of $465,527 for the three months ended September 30, 2024, significantly higher than $199,284 in the prior year[124] - Other income increased by approximately 133.6% to $465,527 compared to $199,284 in the same quarter of 2023[134] - Other income increased to $1,397,479 for the nine months ended September 30, 2024, up 173.1% from $511,792 in 2023[155] - The company experienced a foreign currency gain of $839,344 for the nine months ended September 30, 2024, compared to a loss of $391,533 in the prior year[164] Corporate Governance and Compliance - The company entered into an advisory service agreement with Maxim Group LLC for M&A services, issuing 300,000 shares of common stock as compensation[109] - The company received a notification from Nasdaq regarding non-compliance with the minimum bid price requirement of $1.00 per share, with a compliance period extended to November 4, 2024[113] - The company has implemented additional protocols to enhance internal controls and governance procedures at its Chemrex subsidiary following recent transactions[120] - The company appointed Ms. Jook Yuen Low as an independent director, enhancing the board's expertise in corporate governance and compliance[116] Strategic Investments - A strategic investment was made into Ascension Innovation Sdn Bhd by MRNA Scientific Sdn. Bhd., aimed at expanding the company's capabilities[111] Working Capital - As of September 30, 2024, working capital was $5,635,310, down from $6,415,877 as of December 31, 2023, primarily due to investments and operational expansion[165] Cash Flow - Net cash used in operating activities was $2,164,489 for the nine months ended September 30, 2024, compared to $1,039,686 in the same period last year[167]

Core Insights - MRNA Scientific Sdn. Bhd. and Protech Builders Sdn. Bhd. have signed a strategic teaming agreement to develop and operate biogas plants in Malaysia, focusing on renewable energy generation from plantation wastewater [1][2][5] Group 1: Agreement Details - The three-year agreement involves pooling resources to identify, market, and execute biogas projects, with an initial financial contribution of up to RM1,000,000 (approximately USD 235,000) for feasibility studies and project development [2][4] - The partnership aims to leverage MRNA's market knowledge and chemical raw material expertise alongside Protech's mechanical and electrical engineering capabilities [3][5] Group 2: Market Potential - The biogas market in Malaysia presents significant growth opportunities, with expectations to secure multiple projects ranging from small to large-scale installations over the next three years [4][5] - The collaboration is positioned to meet the increasing demand for biogas solutions, contributing to both environmental sustainability and economic benefits in Malaysia [5] Group 3: Company Backgrounds - BioNexus Gene Lab Corp. is an emerging biotech company and a leading supplier of chemical raw materials in Southeast Asia, operating in the biotech and chemical supply industries [6] - Protech Builders Sdn. Bhd. is a renowned mechanical and electrical engineering firm in Malaysia, specializing in complex engineering systems, holding a G7 construction license that allows for projects of any size [7]

Core Viewpoint - BioNexus Gene Lab Corp. has signed a strategic partnership MOU with Shenzhen Rongguang Health Group to enhance cancer screening, precision medicine, and preventative healthcare through its subsidiary MRNA Scientific Sdn Bhd [1][2]. Group 1: Partnership Objectives - The partnership aims to leverage both companies' expertise to tackle critical healthcare challenges and improve patient outcomes [3]. - Key objectives include: - **Expansion of Cancer Screening and Diagnostics**: MRNA Scientific Sdn Bhd will enhance cancer screening capabilities in Southeast Asia and China through advanced genomic testing and molecular diagnostics [3]. - **Research and Development in Regenerative Medicine**: Collaboration will focus on advanced healthcare technologies, including non-cellular exosome therapy and regenerative medicine, for anti-aging therapies and chronic disease management [3]. - **Preventative Healthcare and Chronic Disease Management**: The partnership will improve preventative healthcare services and personalized healthcare plans based on advanced diagnostics [3]. - **Synergy in Technological Innovation**: Combining diagnostic capabilities with established healthcare platforms will create synergies for healthcare innovation, improving disease detection, prevention, and treatment [3]. Group 2: Company Statements - The CEO of BioNexus Gene Lab Corp. emphasized that this partnership is a pivotal moment for the company, advancing efforts in cancer screening and expanding into broader healthcare solutions [4].

Core Viewpoint - BioNexus Gene Lab Corp's subsidiary, Chemrex Corporation, is investing approximately RM 2 million (around USD $450,000) to produce fine-quality color paste for composite industrial customers, marking a significant step in the company's global market expansion strategy [1][2]. Investment and Product Launch - The investment will enable Chemrex to meet the rising demand for high-quality composite materials across various industries, aligning with the company's long-term growth and innovation strategy [2]. Key Benefits of the New Business - **Increased Profit Margins**: In-house production of color paste will enhance profitability by capturing greater margins compared to outsourcing [3]. - **Improved Quality Control**: Internal production allows for strict oversight of product quality, ensuring superior products that meet high standards [3]. - **Timely Delivery of Finished Products**: Producing color paste in-house will facilitate faster turnaround times, improving service and customer satisfaction [3]. - **Competitive Pricing and Market Expansion**: In-house production provides a cost advantage, enabling competitive pricing and market penetration in Southeast Asia, the Middle East, Australia, and New Zealand [3]. Future Expansion Plans - Chemrex plans to establish additional production facilities in the Middle East and Vietnam to enhance responsiveness to regional demand [4]. Synergy Through Bulk Purchasing - Chemrex will leverage bulk purchasing of raw materials to achieve economies of scale, reducing production costs and strengthening its competitive position in the composite materials industry [5]. Company Commitment - The CEO of BioNexus Gene Lab Corp emphasized the company's commitment to quality, innovation, and market leadership through this new business development [6].