Exhibit 99.1
NEWGENIVF GROUP LIMITED
UNAUDITED CONSOLIDATED BALANCE SHEETS
(Stated in US Dollars)
| June 30, | December 31, | |||||||
| 2026 | 2025 | |||||||
| ASSETS | (unaudited) | (audited) | ||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ | 1,023,789 | $ | 758,621 | ||||
| Accounts receivable, net | 115,970 | 166,531 | ||||||
| Inventories | 351,366 | 335,360 | ||||||
| Deposits, prepayments and other receivables, net | 4,482,625 | 503,588 | ||||||
| Deposit for land acquisition | 4,714,749 | 4,614,749 | ||||||
| Deposit with a digital asset trading platform | 4,717 | 34,987 | ||||||
| Deposit with futures broker, net | — | 59,369 | ||||||
| Receivable from agents, net | 392,876 | 794,116 | ||||||
| Deferred offering costs | 40,754 | 116,250 | ||||||
| Total current assets | 11,126,846 | 7,383,571 | ||||||
| Non-current assets | ||||||||
| Plant and equipment, net | 1,733,832 | 1,789,110 | ||||||
| Right-of-use assets, net | 473,732 | 504,192 | ||||||
| Intangible assets | 21,415,893 | 21,415,069 | ||||||
| Digital asset, at fair value | — | 1,630,827 | ||||||
| Investment in equity securities | 1,686,667 | — | ||||||
| Total non-current assets | 25,310,124 | 25,339,198 | ||||||
| TOTAL ASSETS | $ | 36,436,970 | $ | 32,722,769 | ||||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||
| Current liabilities | ||||||||
| Accounts payable | $ | 878,108 | $ | 779,280 | ||||
| Accrued liabilities and other payables | 500,236 | 711,892 | ||||||
| Contract liabilities | 105,835 | 111,981 | ||||||
| Due to related parties | 64,481 | 6,421 | ||||||
| Operating lease liabilities, current | 263,532 | 238,105 | ||||||
| Convertible notes | 1,104,543 | 256,056 | ||||||
| Embedded derivative liability | 710,536 | 262,616 | ||||||
| Repurchase Forbearance liability | 6,881,250 | — | ||||||
| Total current liabilities | 10,508,521 | 2,366,351 | ||||||
| Non-current liabilities | ||||||||
| Operating lease liabilities, non-current | 215,087 | 272,359 | ||||||
| Convertible notes, non-current | -- | 4,097,366 | ||||||
| Total non-current liabilities | 215,087 | 4,369,725 | ||||||
| Total liabilities | $ | 10,723,608 | $ | 6,736,076 | ||||
| Shareholders’ equity | ||||||||
| Ordinary shares, no par value, unlimited authorized shares and 1,152,607* and 26,736* shares issued and outstanding as of June 30, 2026 and December 31, 2025 respectively | — | — | ||||||
| Additional paid-in capital | 25,786,740 | 17,881,176 | ||||||
| Retained Earnings / (Accumulated deficit) | 857,860 | 8,893,414 | ||||||
| Accumulated other comprehensive (loss) income | (215,658 | ) | (143,071 | ) | ||||
| Equity attributable to the shareholders of the Company | 26,428,942 | 26,631,519 | ||||||
| Non-controlling interests | (715,580 | ) | (644,826 | ) | ||||
| Total shareholders’ equity | 25,713,362 | 25,986,693 | ||||||
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | $ | 36,436,970 | $ | 32,722,769 | ||||
| * | The shares as presented have been adjusted retrospectively for Reverse Share Splits effected in January 2026 of 1 share for every 3 existing shares issued, in March 2026 of 1 share for every 4 existing share issued, in July 2026 of 1 share for every 3 shares issued and in September 2026 of 1 share for every 3 shares issued respectively. |
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NEWGENIVF GROUP LIMITED
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND
COMPREHENSIVE (LOSS) INCOME
(Stated in US Dollars)
Six Months Ended
| June 30, 2026 | June 30, 2025 | |||||||
| Revenues | $ | 1,924,881 | $ | 2,019,628 | ||||
| Cost of revenues | (1,460,393 | ) | (1,705,824 | ) | ||||
| Gross profit | 464,488 | 313,804 | ||||||
| Operating expenses | ||||||||
| Selling and marketing expenses | (416,238 | ) | (307,176 | ) | ||||
| General and administrative expenses | (3,595,662 | ) | (3,247,004 | ) | ||||
| Total operating expenses | (4,011,900 | ) | (3,554,180 | ) | ||||
| Operating income (loss) | (3,547,412 | ) | (3,240,376 | ) | ||||
| Other income (expenses), net | ||||||||
| Other income (expenses), net | (3,990,911 | ) | 4,062,303 | |||||
| Interest income | 64 | 1,594 | ||||||
| Interest expense | (541,133 | ) | (357,551 | ) | ||||
| Total other income (expenses), net | (8,079,392 | ) | (3,938,408 | ) | ||||
| Income (loss) before taxes | (8,079,392 | ) | 698,032 | |||||
| Provision for income taxes | --- | --- | ||||||
| Net income (loss) | (8,079,392 | ) | 698,032 | |||||
| Less: net loss attributable to non-controlling interests | (44,086 | ) | (26,943 | ) | ||||
| Net income (loss) attributable to the shareholders of the Company | $ | (8,035,306 | ) | 724,975 | ||||
| Other comprehensive (loss) income | ||||||||
| Foreign currency translation adjustment | (99,506 | ) | (66,526 | ) | ||||
| Total comprehensive income (loss) | (8,178,898 | ) | 631,506 | |||||
| Less: total comprehensive loss attributable to non-controlling interests | (70,754 | ) | (54,536 | ) | ||||
| Total comprehensive income (loss) attributable to the shareholders of the Company | $ | (8,108,144 | ) | 686,042 | ||||
| Earning per share – basic | $ | (26.64 | ) | 1,418.76 | ||||
| Basic weighted average shares outstanding* | 301,584 | 511 | ||||||
| * | The shares as presented have been adjusted retrospectively for Reverse Share Splits effected in January 2026 of 1 share for every 3 existing shares issued, in March 2026 of 1 share for every 4 existing share issued, in July 2026 of 1 share for every 3 shares issued and in September 2026 of 1 share for every 3 shares issued respectively. |
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