XML 32 R20.htm IDEA: XBRL DOCUMENT
v3.25.2

SEGMENTED INFORMATION | 6 Months Ended
--- | ---
Jun. 30, 2025
SEGMENTED INFORMATION |
SEGMENTED INFORMATION | NOTE 13 – SEGMENT INFORMATION The Company determines it reportable segments based on its internal organization structure and internal management reporting used to assess and allocate resources. This information are regularly reviewed by the Company’s Chief Executive Officer who is identified as the Chief Operating Decision Maker (“CODM”). The Company consists of three operating units, BioNexus Gene Lab Corp., MRNA Scientific Sdn. Bhd. and Chemrex Corporation Sdn. Bhd. which are determined as three reportable segments, as described below. These reportable segments offer different products and services, and are managed separately because they require different technology and marketing strategies. The following describes the operations in each of the Company’s reportable segments:
· | Trading of industrial chemicals | - | Includes trading of industrial chemicals
· | Provision for genomic screening services | - | includes in commercializing proprietary blood-based diagnostic test for early disease detection
· | Investment holding | - | Investment holding
The CODM evaluates the performance of each reportable segment based on operating income and key segment-specific metrics. There are no inter-segment revenue transactions between reportable segments. Except for investment holding activities and the revenue to the overseas customers as disclosed in Note 9, the Company’s revenue and principal operations are substantially confined within Malaysia. The CODM evaluates segment performance primarily on operating income and reviews the following expense categories by segment: cost of revenue, selling and distribution, and administrative expenses. A reconciliation of total reportable segment amounts to the Company’s consolidated amounts is provided below, with corporate and unallocated items presented as reconciling adjustments. Going forward, the Company expects the MRNA Scientific segment to benefit from the integration of Fidelion Diagnostics’ technology, expanding our testing portfolio and geographic reach. Chemrex’s Industrial Chemicals segment is expected to decrease in relative contribution over time as CDMO operations scale. The Investment Holding segment will also encompass the Company’s Ethereum treasury activities, which management views as a distinct strategic asset intended to enhance capital efficiency and diversification. Pursuant to ASU 2023-07, “Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures”, the financial information concerning the Company’s reportable segments is shown as below: Segmented Information
|  | Provision for genomic screening services |  |  | Trading of industrial chemicals |  |  | Investment holding |  |  | Total |
|  | Three month period ended June 30, 2025 |
REVENUE |  | $ | 3,466 |  |  | $ | 2,256,787 |  |  | $ | - |  |  | $ | 2,260,253 |
COST OF REVENUE |  |  | (2,725 | ) |  |  | (1,889,506 | ) |  |  | - |  |  |  | (1,892,231 | )
GROSS PROFIT |  |  | 741 |  |  |  | 367,281 |  |  |  | - |  |  |  | 368,022 |
OTHER INCOME |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Dividend income |  |  | - |  |  |  | 8,626 |  |  |  | - |  |  |  | 8,626 |
Interest income |  |  | 25,092 |  |  |  | 4,676 |  |  |  | - |  |  |  | 29,768 |
Fair value gain on investments in equity securities |  |  | - |  |  |  | 23,742 |  |  |  | - |  |  |  | 23,742 |
Reversal of expected credit losses |  |  | - |  |  |  | 69,759 |  |  |  | - |  |  |  | 69,759 |
Others |  |  | 3,477 |  |  |  | 74,089 |  |  |  | - |  |  |  | 77,566 |
TOTAL OTHER INCOME |  |  | 28,569 |  |  |  | 180,892 |  |  |  | - |  |  |  | 209,461 |
OPERATING EXPENSES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales and marketing |  |  | (28,424 | ) |  |  | (559,541 | ) |  |  | (20,462 | ) |  |  | (608,427 | )
Research and development |  |  | (12,557 | ) |  |  | - |  |  |  | - |  |  |  | (12,557 | )
General and administrative |  |  | (149,164 | ) |  |  | (161,591 | ) |  |  | (206,035 | ) |  |  | (516,790 | )
Fair value loss on investments in equity securities |  |  | - |  |  |  | (51,002 | ) |  |  | - |  |  |  | (51,002 | )
TOTAL OPERATING EXPENSES |  |  | (190,145 | ) |  |  | (772,134 | ) |  |  | (226,497 | ) |  |  | (1,188,776 | )
LOSS FROM OPERATIONS |  |  | (160,835 | ) |  |  | (223,961 | ) |  |  | (226,497 | ) |  |  | (611,293 | )
FINANCE COSTS |  |  | (3,273 | ) |  |  | (1,599 | ) |  |  | (7 | ) |  |  | (4,879 | )
LOSS BEFORE TAX |  |  | (164,108 | ) |  |  | (225,560 | ) |  |  | (226,504 | ) |  |  | (616,172 | )
NET LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS |  | $ | (164,108 | ) |  | $ | (225,560 | ) |  |  | (226,504 | ) |  | $ | (616,172 | )
|  |  | Provision for genomic screening services |  |  | Trading of industrial chemicals |  |  | Investment holding |  |  | Total |
|  |  | Three month period ended June 30, 2024 |
REVENUE |  |  | $ | 5,496 |  |  | $ | 1,969,068 |  |  | $ | - |  |  | $ | 1,974,564 |
COST OF REVENUE |  |  |  | (2,353 | ) |  |  | (1,683,491 | ) |  |  | - |  |  |  | (1,685,844 | )
GROSS PROFIT |  |  |  | 3,143 |  |  |  | 285,577 |  |  |  | - |  |  |  | 288,720 |
OTHER INCOME |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Dividend income |  |  |  | - |  |  |  | 11,881 |  |  |  | - |  |  |  | 11,881 |
Interest income |  |  |  | 37,154 |  |  |  | 12,585 |  |  |  | - |  |  |  | 49,739 |
Fair value gain on investments in equity securities |  |  |  | - |  |  |  | 88,532 |  |  |  | - |  |  |  | 88,532 |
Gain on disposal of investments in equity securities |  |  |  | - |  |  |  | 8,117 |  |  |  | - |  |  |  | 8,117 |
Reversal of expected credit losses |  |  |  | - |  |  |  | 552,663 |  |  |  | - |  |  |  | 552,663 |
Others |  |  |  | 210 |  |  |  | 18,963 |  |  |  | - |  |  |  | 19,173 |
TOTAL OTHER INCOME |  |  |  | 37,364 |  |  |  | 692,741 |  |  |  | - |  |  |  | 730,105 |
OPERATING EXPENSES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales and marketing |  |  |  | (23,011 | ) |  |  | (103,257 | ) |  |  | (10,226 | ) |  |  | (136,494 | )
Research and development |  |  |  | (8,198 | ) |  |  | - |  |  |  | - |  |  |  | (8,198 | )
General and administrative |  |  |  | (73,154 | ) |  |  | (121,741 | ) |  |  | (363,934 | ) |  |  | (558,829 | )
Fair value loss on investments in equity securities |  |  |  | - |  |  |  | (56,136 | ) |  |  | - |  |  |  | (56,136 | )
OPERATING EXPENSES |  |  |  | (104,363 | ) |  |  | (281,134 | ) |  |  | (374,160 | ) |  |  | (759,657 | )
(LOSS)/PROFIT FROM OPERATIONS |  |  |  | (63,856 | ) |  |  | 697,184 |  |  |  | (374,160 | ) |  |  | 259,168 |
FINANCE COSTS |  |  |  | (2,646 | ) |  |  | (1,746 | ) |  |  | (88 | ) |  |  | (4,480 | )
(LOSS)/PROFIT BEFORE TAX |  |  |  | (66,502 | ) |  |  | 695,438 |  |  |  | (374,248 | ) |  |  | 254,688 |
Tax expense |  |  |  | - |  |  |  | (55,584 | ) |  |  | - |  |  |  | (55,584 | )
NET (LOSS)/PROFIT ATTRIBUTABLE TO COMMON SHAREHOLDERS |  |  | $ | (66,502 | ) |  | $ | 639,854 |  |  | $ | (374,248 | ) |  | $ | 199,104 |
|  | Provision for genomic screening services |  |  | Trading of industrial chemicals |  |  | Investment holding |  |  | Total |
|  | Six month period ended June 2025 |
REVENUE |  | $ | 6,534 |  |  | $ | 4,390,794 |  |  | $ | - |  |  | $ | 4,397,328 |
COST OF REVENUE |  |  | (4,131 | ) |  |  | (3,681,682 | ) |  |  | - |  |  |  | (3,685,813 | )
GROSS PROFIT |  |  | 2,403 |  |  |  | 709,112 |  |  |  | - |  |  |  | 711,515 |
OTHER INCOME |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Dividend income |  |  | - |  |  |  | 17,560 |  |  |  | - |  |  |  | 17,560 |
Interest income |  |  | 45,094 |  |  |  | 8,242 |  |  |  | - |  |  |  | 53,336 |
Fair value gain on investments in equity securities |  |  | - |  |  |  | 28,256 |  |  |  | - |  |  |  | 28,256 |
Reversal of expected credit losses |  |  | - |  |  |  | 94,912 |  |  |  | - |  |  |  | 94,912 |
Others |  |  | 7,370 |  |  |  | 99,447 |  |  |  | - |  |  |  | 106,817 |
TOTAL OTHER INCOME |  |  | 52,464 |  |  |  | 248,417 |  |  |  | - |  |  |  | 300,881 |
OPERATING EXPENSES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales and marketing |  |  | (56,064 | ) |  |  | (1,068,531 | ) |  |  | (24,527 | ) |  |  | (1,149,122 | )
Research and development |  |  | (24,696 | ) |  |  | - |  |  |  | - |  |  |  | (24,696 | )
General and administrative |  |  | (205,170 | ) |  |  | 286,724 | ) |  |  | (416,772 | ) |  |  | (908,666 | )
Fair value loss on investments in equity securities |  |  | - |  |  |  | (119,499 | ) |  |  | - |  |  |  | (119,499 | )
Provision for expected credit losses |  |  | - |  |  |  | (40,124 | ) |  |  | - |  |  |  | (40,124 | )
TOTAL OPERATING EXPENSES |  |  | (285,930 | ) |  |  | (1,514,878 | ) |  |  | (441,299 | ) |  |  | (2,242,107 | )
LOSS FROM OPERATIONS |  |  | (231,063 | ) |  |  | (557,349 | ) |  |  | (441,299 | ) |  |  | (1,229,711 | )
FINANCE COSTS |  |  | (6,637 | ) |  |  | (3,101 | ) |  |  | (50 | ) |  |  | (9,788 | )
LOSS BEFORE TAX |  |  | (237,700 | ) |  |  | (560,450 | ) |  |  | (441,349 | ) |  |  | (1,239,499 | )
NET LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS |  | $ | (237,700 | ) |  | $ | (560,450 | ) |  | $ | (441,349 | ) |  | $ | (1,239,499 | )
|  |  | Provision for genomic screening services |  |  | Trading of industrial chemicals |  |  | Investment holding |  |  | Total |
|  |  | Six month period ended June 2024 |
REVENUE |  |  | $ | 8,661 |  |  | $ | 4,347,754 |  |  | $ | - |  |  | $ | 4,356,415 |
COST OF REVENUE |  |  |  | (4,605 | ) |  |  | (3,698,059 | ) |  |  | - |  |  |  | (3,702,664 | )
GROSS PROFIT |  |  |  | 4,056 |  |  |  | 649,695 |  |  |  | - |  |  |  | 653,751 |
OTHER INCOME |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Dividend income |  |  |  | - |  |  |  | 20,827 |  |  |  | - |  |  |  | 20,827 |
Interest income |  |  |  | 60,937 |  |  |  | 17,785 |  |  |  | - |  |  |  | 78,722 |
Fair value gain on investments in equity securities |  |  |  | - |  |  |  | 173,317 |  |  |  | - |  |  |  | 173,317 |
Gain on disposal of investments in equity securities |  |  |  | - |  |  |  | 14,298 |  |  |  | - |  |  |  | 14,298 |
Reversal of expected credit losses |  |  |  | - |  |  |  | 584,415 |  |  |  | - |  |  |  | 584,415 |
Others |  |  |  | 15,121 |  |  |  | 45,252 |  |  |  | - |  |  |  | 60,373 |
TOTAL OTHER INCOME |  |  |  | 76,058 |  |  |  | 855,894 |  |  |  | - |  |  |  | 931,952 |
OPERATING EXPENSES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales and marketing |  |  |  | (54,116 | ) |  |  | (223,699 | ) |  |  | (12,550 | ) |  |  | (290,365 | )
Research and development |  |  |  | (19,673 | ) |  |  | - |  |  |  | - |  |  |  | (19,673 | )
General and administrative |  |  |  | (111,429 | ) |  |  | (252,162 | ) |  |  | (511,032 | ) |  |  | (874,623 | )
Fair value loss on investments in equity securities |  |  |  | - |  |  |  | (100,433 | ) |  |  | - |  |  |  | (100,433 | )
Provision for expected credit losses |  |  |  | - |  |  |  | (120,469 | ) |  |  | - |  |  |  | (120,469 | )
OPERATING EXPENSES |  |  |  | (185,218 | ) |  |  | (696,763 | ) |  |  | (523,582 | ) |  |  | (1,405,563 | )
(LOSS)/PROFIT FROM OPERATIONS |  |  |  | (105,104 | ) |  |  | 808,826 |  |  |  | (523,582 | ) |  |  | 180,140 |
FINANCE COSTS |  |  |  | (4,596 | ) |  |  | (4,433 | ) |  |  | (112 | ) |  |  | (9,141 | )
(LOSS)/PROFIT BEFORE TAX |  |  |  | (109,700 | ) |  |  | 804,393 |  |  |  | (523,694 | ) |  |  | 170,999 |
Tax expense |  |  |  | - |  |  |  | (75,652 | ) |  |  | - |  |  |  | (75,652 | )
NET (LOSS)/PROFIT ATTRIBUTABLE TO COMMON SHAREHOLDERS |  |  | $ | (109,700 | ) |  | $ | 728,741 |  |  | $ | (523,694 | ) |  | $ | 95,347 |
|  | Provision for genomic screening services |  |  | Trading of industrial chemicals |  |  | Investment holding |  |  | Total |
|  | As of June 30, 2025 |
Segment assets |  | $ | 2,502,665 |  |  | $ | 6,320,015 |  |  | $ | 598,525 |  |  | $ | 9,421,205 |
Included in the measure of segment assets are: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Addition to non-current assets other than financial instruments and deferred tax assets |  |  | - |  |  |  | 30,511 |  |  |  | - |  |  |  | 30,511 |
|  | Provision for genomic screening services |  |  | Trading of industrial chemicals |  |  | Investment holding |  |  | Total |
|  | As of December 31, 2024 |
Segment assets |  | $ | 2,652,754 |  |  | $ | 6,788,302 |  |  | $ | 992,792 |  |  | $ | 10,433,848 |
Included in the measure of segment assets are: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Addition to non-current assets other than financial instruments and deferred tax assets |  |  | 150,881 |  |  |  | 221,844 |  |  |  | - |  |  |  | 372,725 |
The Company had no inter-segment sales for the periods presented.

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-15 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-42 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (ee) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 11: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 12: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 13: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 14: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 15: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 16: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 17: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-34 Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/280/tableOfContent Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26 Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration