Schedule of Licensing Agreement and Related Amendment with FEYE

During the three and nine months ended September 30, 2024, the Company received $180,000 and $296,000, respectively, pursuant to the licensing agreement and related amendment with FEYE, and recognized $180,000 and $296,000 revenue correspondingly. In addition, the Company received $200,000 during the three and nine months ended September pursuant to the licensing agreement with OncoX, and recognized revenue correspondingly. Please refer to Note 4, Collaborative Agreements for details.

	Three Months Ended				Nine Months Ended
	September 30,		September 30,		September 30,		September 30,
	2024		2023		2024		2023
	(Unaudited)		(Unaudited)		(Unaudited)		(Unaudited)
OncoX	$	200,000	$	-	$	200,000	$	-
FEYE		180,000	$	-		296,000	$	-
Total	$	380,000	$	-	$	496,000	$	-

Schedule of Due from Related Parties - Current

Due from related-party - Current

	September 30,		December 31,
	2024		2023
	(Unaudited)
Rgene (1)	$	559,489	$	541,486
BioFirst (2)		644,873		206,087
Total	$	1,204,362	$	747,573

Due from related parties - Non-Current

	September 30,			December 31,
	2024			2023
	(Unaudited )
BioFirst (Australia) (3)	$	839,983		$	839,983
BioHopeKing Corporation (4)		124,151			113,516
Total		964,134			953,499
Less: allowance for expected credit losses accounts		(839,983	)		(839,983	)
Net	$	124,151		$	113,516

(1)

On June 16, 2022, the Company entered into a one-year convertible loan with Rgene, with a principal amount of $1,000,000 to Rgene which bears interest at 5% per annum for the use of working capital that, if fully converted, would result in ABVC owning an additional 6.4% of Rgene. The Company may convert the Note at any time into shares of Rgene’s common stock at either (i) a fixed conversion price equal to $1.00 per share or (ii) 20% discount of the stock price of the then most recent offering, whichever is lower; the conversion price is subject to adjustment as set forth in the Note. The Note includes standard events of default, as well as a cross default provision pursuant to which a breach of the Service Agreement will trigger an event of default under the convertible note if not cured after 5 business days of written notice regarding the breach is provided.

As of September 30, 2024 and December 31, 2023, the outstanding loan balance were $506,216 and $500,000, respectively; and accrued interest was $51,319 and $38,819, respectively. The Company expects to receive the repayment within next 12 months once Rgene receives the licensing fees from OncoX.

As of September 30, 2024 and December 31, 2023, the Company has other receivables amounted $1,954 and $2,667, respectively, from Rgene due to daily operations.

(2)

On December 31, 2023, BioLite Taiwan entered into a loan agreement with BioFirst, with a principal amount of $348,779 (NTD 11,072,360) to BioFirst which bears interest at 12% per annum for the use of working capital. During the period ended September 30, 2024, the Company entered into another loan agreement with BioFirst, with a principal amount of $359,289 (NTD 11,406,000) to BioFirst which bears interest at 12% per annum for the use of working capital. As of September 30, 2024 and December 31, 2023, the outstanding loan balance were $606,323 (NTD 19,248,360) and $206,087 (NTD 6,302,360), respectively; accrued interest was $37,520 and $0, respectively. The Company has received $100,076 (NTD 3,230,000) repayment and expects to receive other repayment within next 12 months. As of September 30, 2024 and December 31, 2023, the Company has other receivables from BioFirst amounted $1,030 and $0, respectively, due to daily operations.

(3)	The balances mainly represent advances to BioFirst (Australia) for research and development purposes. The business conditions of BioFirst (Australia) deteriorated and, as a result, the Company recognized expected credit losses of $839,983 for the year ended December 31, 2023.

(4)

On February 24, 2015, BioLite Taiwan and BioHopeKing Corporation (the “BHK”) entered into a co-development agreement, (the “BHK Co-Development Agreement”, see Note 3). The development costs shall be shared 50/50 between BHK and the Company. Under the term of the agreement, BioLite issued relevant development cost to BHK. As of September 30, 2024 and December 31, 2023, due from BHK was $124,151 and $113,516, respectively.