(Note: This is NOT an IPO. This is a NASDAQ uplisting from the OTCQB Marketplace for BioNexus Gene Lab Corp. The company is incorporated in Wyoming, although it is based in Malaysia.)
BioNexus Gene Lab Corp., through our wholly owned subsidiary Chemrex Corporation Sdn Bhd., focuses on the sale of chemical raw materials for the manufacture of industrial, medical, appliance, aero, automotive, mechanical, and electronic industries in the Southeast Asia region. These countries include Malaysia, Indonesia, Vietnam, and other countries in Southeast Asia.
Furthermore, the Company is also in the business of developing and providing safe, effective, and non-invasive liquid biopsy tests for the early detection of disease risks derived from evidence-based research to minimize treatment costs and improve a patient’s management of his current health status. Our non-invasive blood tests provide analysis of changes in RNA to detect the potential risk of 11 different diseases.
We focus on chemical raw material products. We purchase raw chemical materials – mostly FRP (fiber-reinforced polymers) from domestic and international manufacturers – and sell them to customers in Southeast Asia, as well as in the Maldives Islands, Sri Lanka, Bangladesh and Africa. The FRP and other raw materials we offer are used to produce a wide variety of goods, including handrails, bench tops, automotive and aero parts, cleanroom panels, and covers for various instruments used in manufacturing.
In Malaysia, we also provide non-invasive blood tests to analyze RNA changes and biomarkers to detect the potential risk of 11 different diseases: eight different types of cancer – nasopharyngeal, lung, liver, stomach, breast, cervical, prostate and colon – as well as two bowel diseases – colitis and Crohn’s – and osteoarthritis.
As of Sept. 30, 2022, our revenue came from the following businesses:
– Sales of FRP and other raw materials – 90% of our revenue.
– Sales of non-invasive flood tests – 10% of our revenue.
**Note: Revenue and net income figures are in U.S. dollars for the 12 months that ended March 31, 2023.
(Note: BioNexus Gene Lab Corp. priced its public offering (NASDAQ uplisting) on Wednesday night, July 19, 2023, in sync with the terms in its prospectus: 1.25 million shares at $4.00 to raise $5.0 million. The stock started trading on the NASDAQ on Thursday, July 20, 2023. BioNexus Gene Lab Corp. filed its S-1 on Feb. 14, 2023, for its NASDAQ uplisting from the OTCQB Marketplace.)
(Note: A reverse stock split became effective concurrent with the public offering and NASDAQ uplisting, the prospectus says.)