NewGen Filed 2024 Annual Report on Form 20-F

Rhea-AI Summary

NewGen IVF Group (NASDAQ: NIVF), an Asian fertility services provider, has filed its 2024 annual report on Form 20-F with the SEC on April 22, 2025. The company reported $2.48 million in cash and a $1 million cash deposit with a trading platform, which exceeds their current market capitalization of $1.48 million.

The company has improved its financial position by settling outstanding promissory notes and converting mandatory additional notes to equity. NewGen maintains access to a $100 million equity line of credit facility, of which $7.1 million has been utilized.

Positive

• Cash position ($3.48M total) exceeds current market cap ($1.48M)
• Settlement of all outstanding promissory notes
• Conversion of mandatory additional notes to equity
• Access to $100M equity line of credit facility

Negative

• Low market capitalization of $1.48M indicates weak market valuation
• $7.1M already drawn from credit facility suggests reliance on external financing

BANGKOK, April 22, 2025 (GLOBE NEWSWIRE) -- NewGenIvf Group Limited (NASDAQ: NIVF) (“NewGen” or the “Company”), a comprehensive fertility services provider in Asia helping couples and individuals obtain access to fertility treatments, today announced that it has filed its annual report on Form 20-F for the fiscal year ended December 31, 2024 with the Securities and Exchange Commission on April 22, 2025 Eastern Time. The annual report can be accessed on the Company’s investor relations website at https://investors.newgenivf.com.

Mr. Siu Wing Fung Alfred, Founder, Chairman, and CEO of NewGen, commented, “With $2.48 million cash with bank and a cash deposit of $1 million with a trading platform company, significantly exceeding our current market capitalization of $1.48 million, we believe we are currently in a healthy liquidity situation. We've successfully strengthened our balance sheet by settling all outstanding promissory notes and converting several mandatory additional notes into equity. With access to our $100 million equity line of credit facility, of which approximately $7.1 million has been drawn to date, we remain well-positioned to pursue strategic opportunities in this dynamic market environment.”

About NewGen
NewGen is a comprehensive fertility services provider in Asia helping couples and individuals obtain access to fertility treatments. With a mission to aid couples and individuals in building families regardless of fertility challenges, NewGen has dedicated itself to creating increased access to infertility treatment and providing comprehensive fertility services for its customers. NewGen’s management team collectively has over a decade of experience in the fertility industry. NewGen’s clinics are located in Thailand, Cambodia, and Kyrgyzstan, and present a full suite of services for its patients, including comprehensive infertility and assisted reproductive technology treatments, egg and sperm donation, and surrogacy, in the appropriate jurisdictions, respectively. To learn more, visit www.newgenivf.com. The information contained on, or accessible through, NewGen’s website is not incorporated by reference into this press release, and you should not consider it a part of this press release.

Forward-Looking Statements
This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Without limiting the generality of the foregoing, the forward-looking statements in this press release include descriptions of the Company’s future commercial operations, investments, business strategy, and financial condition. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, such as the Company’s ability to access financing or draw down on the equity line of credit, changes in market conditions, or other factors beyond the Company’s control. You should carefully consider the foregoing factors and the other risks and uncertainties described in the Company’s annual report on Form 20-F and other documents filed or to be filed by the Company with the SEC from time to time, which could cause actual events and results to differ materially from those contained in the forward-looking statements. Copies of these documents are available on the SEC’s website, www.sec.gov. All information provided herein is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.

Investor Relations Contact
ICR, LLC
Robin Yang
Phone: +1 (212) 537-4406
Email: Newgenivf.IR@icrinc.com

FAQ

What is NewGen IVF Group's (NIVF) current cash position in 2024?

NewGen has $2.48 million in cash with bank and an additional $1 million cash deposit with a trading platform, totaling $3.48 million in liquid assets.

How much of NewGen's (NIVF) $100M credit facility has been used?

Approximately $7.1 million has been drawn from the $100 million equity line of credit facility.

What is NewGen IVF's (NIVF) current market capitalization?

NewGen's current market capitalization is $1.48 million.

What financial improvements has NewGen (NIVF) made in 2024?

NewGen has settled all outstanding promissory notes and converted several mandatory additional notes into equity.