{"success":true,"data":{"pressRelease":{"id":"160608","rtpr_id":"nGNX7scDDx-20261005","ticker":"BGLC","exchange":"NASDAQ","all_tickers":["BGLC","RYET"],"title":"RYET to Enter Malaysian Healthcare Through Exclusive Cogni AI License to BioNexus Gene Lab","author":"Globe Newswire","published_at":"2026-10-05T13:00:00.928Z","article_body":"KUALA LUMPUR, Malaysia, Oct. 05, 2026 (GLOBE NEWSWIRE) -- Ruanyun Edai\nTechnology Inc. (NASDAQ: RYET) (“RYET” or the “Company”) today\nannounced that it has signed a definitive agreement under which, on closing,\nRYET would grant BioNexus Gene Lab Corp. (NASDAQ: BGLC) (“BGLC”) an\nexclusive license of its Cogni AI document-intelligence platform for\nhealthcare in Malaysia, together with a reciprocal share exchange. The\nagreement would take Cogni AI into a new industry and a new market outside\nChina. RYET would be entitled to a 10% royalty on qualifying technology\nreceipts collected by BGLC and its affiliates and would receive 560,000 BGLC\nshares at closing, 150,000 of them in exchange for 500,000 new RYET ordinary\nshares, giving it a direct stake in the partner that would take its technology\nto market.\n\nThe agreement comes as Malaysia accelerates the digitalization of its public\nhealthcare system. In his National Day address on August 30, 2026, Prime\nMinister Anwar Ibrahim announced a RM1 billion allocation to accelerate\nhealthcare digitalization involving 150 hospitals and 2,000 health clinics,\nand the Health Minister has said the additional funding will allow the\nMinistry of Health to expand and accelerate its electronic medical records\nsystem. In July, a deputy director of the ministry’s Digital Health Division\nsaid only about 10% of the public healthcare ecosystem had been brought online\nand that the ministry aims for a fully digital, patient-centered healthcare\nsystem within five to ten years. Neither RYET nor BGLC is a party to, or has\nbeen awarded any contract under, these government programs, and Cogni AI is\nnot an electronic medical records system. The license would cover healthcare\nin Malaysia generally, and any public-sector business would depend on separate\nprocurement.\n\nThe agreement would put RYET’s Formind Group strategy into practice. Formind\nGroup, the identity under which RYET presents its group businesses, is built\non taking AI developed in one industry into new industries and international\nmarkets. BGLC would lead local implementation and may build and brand its own\napplications on Cogni AI, while RYET would supply and support the platform.\nFormind Global Holdings Sdn. Bhd. (“Formind Global”), RYET’s wholly\nowned Malaysian subsidiary, would take part in the parties’ wider\ncooperation in Malaysia and Southeast Asia.\n\n“Healthcare runs on records, and reading, checking and organizing records is\nwhat Cogni AI was designed to do,” said Maggie Fu, Chief Executive Officer\nof RYET. “Malaysia is investing to bring its health records online, and this\nagreement would give us a local partner with a shared stake in making Cogni AI\nwork there. That is the Formind Group idea: take technology we have built and\ndeployed in one industry and put it to work in the next, with partners who\nknow the local market.”\n\nFrom Highway Archives to Healthcare Records\n\nIn September, RYET announced the deployment of Cogni AI to digitize highway\nengineering archives in Ningxia, China, where it extracts catalog data, checks\nit against source documents and flags missing or out-of-sequence pages.\nHealthcare records demand the same accuracy, with stricter rules on data.\nUnder the agreement, patient data must be hosted in Malaysia, the RYET Group\nmay not access it from outside Malaysia, and clinical decisions remain with\nhealthcare providers.\n\n“Much of Malaysia’s public healthcare record-keeping is still\npaper-based,” said Sam Tan, Chief Executive Officer of BioNexus Gene Lab\nCorp. “Cogni AI, already deployed in China, would give us an engine for\nturning paper records into structured, checkable data, hosted in Malaysia\nunder Malaysian rules. We plan to start in healthcare, and the agreement would\nlet us take the platform into other industries in Malaysia as opportunities\narise.”\n\nKey Terms\n* License: ten years from closing, renewable at BGLC’s option for two\nfurther five-year terms (up to 20 years in total), and exclusive in Malaysian\nhealthcare for the full term, subject to the agreement’s milestone, cure and\ntermination provisions. No rollout milestones have been agreed, and no fee is\npayable on renewal. While the license is exclusive, the RYET Group, including\nFormind Global, may pursue Cogni AI opportunities in the licensed fields in\nMalaysia only through BGLC or through RYET-led projects that BGLC approves.\n* Other industries: BGLC may add any other industry in Malaysia, including\neducation, by notice, with the same 10% royalty applying. Exclusivity in each\nadded industry continues only if BGLC or an affiliate signs a customer\ncontract in that industry within 12 months.\n* Royalty: 10% of qualifying technology receipts that BGLC and its affiliates\ncollect, net of specified deductions, with no minimum royalty or guaranteed\nrevenue. Testing, clinical and consultation fees and separately identifiable\nservices such as implementation and hosting are excluded.\n* Support: RYET would provide deployment assistance, a 12-month warranty and,\nthroughout the license term, security patches, fixes and general updates at no\nadditional charge. If RYET stops supporting the technology for more than 60\ndays for any reason, including insolvency, it must deliver to BGLC the source\ncode and related materials needed to maintain and support BGLC’s\ndeployments, for use only for that purpose for the rest of the term.\n* Shares: at closing, BGLC would issue 410,000 common shares to RYET for the\nlicense and a further 150,000 in exchange for 500,000 RYET ordinary shares,\nwith no cash payment or true-up. The shares would be subject to transfer\nrestrictions.\n* License consideration: US$3.5 million, to be satisfied at closing by the\n410,000 license shares. This is the contractual amount, not the shares’\nmarket value or GAAP revenue. Based on Nasdaq closing prices on October 2,\n2026, the last trading day before signing, of US$1.27 for BGLC and US$0.8599\nfor RYET, the 410,000 license shares had a quoted value of US$520,700; the\n150,000 BGLC exchange shares, US$190,500; and the 500,000 RYET shares,\nUS$429,950.\n* Liability and governing law: each party’s liability is capped at\nUS$1,000,000, except for fraud, willful misconduct and obligations to pay\nmoney. The cap does not apply to RYET’s obligation, if the RYET Group\nbreaches the exclusivity or non-solicitation provisions, to pay BGLC the\namounts received from the breaching activity, and BGLC may claim lost profits\nfor RYET’s breach of the exclusivity, license-activation or Malaysia\ndata-hosting provisions. From signing until closing, the RYET Group may not\nnegotiate or grant rights to Cogni AI or a competing product in Malaysian\nhealthcare to anyone else. The agreement is governed by Malaysian law, with\ndisputes resolved by arbitration in Kuala Lumpur.\nUnder the agreement, the share exchange is separate from, and does not reduce,\nthe license consideration. RYET’s accounting for the license and share\nissuances remains subject to final assessment, and any revenue would be\nrecognized as performance obligations are satisfied. The transaction has not\nyet closed, and closing requires satisfaction of the applicable closing\nconditions and recording of the contemplated share issuances. Those conditions\ninclude BGLC’s written acceptance of the technology after testing, each\nparty’s due diligence, required corporate and regulatory approvals, and any\nPRC approval, registration or license RYET needs to license and deliver the\ntechnology.\n\nRYET is required to deliver the technology within 60 days after signing unless\nthe parties agree another date in writing. Either party not in default may\nterminate if closing has not occurred by March 31, 2027, unless the parties\nextend that date in writing. Either party may terminate for the other’s\nuncured material breach or insolvency. BGLC may also terminate if the\ntechnology fails acceptance testing a second time, or within 90 days after\nlearning of a change of control of RYET or of the Cogni AI business. Where\nBGLC could terminate for RYET’s breach, insolvency or change of control, it\nmay instead keep the license, including exclusivity, in force for the rest of\nthe term.\n\nAbout Ruanyun Edai Technology Inc.\n\nRuanyun Edai Technology Inc. is an AI-driven education technology company\nfocused on intelligent content recognition, automated assessment and\nnext-generation learning systems. The Company has historically developed and\nprovided AI-enabled teaching, learning and assessment solutions, including\nsmart homework, smart examination and digital education services, and since\nSeptember 2025 has provided campus operations and student-life services\nthrough its Smart Campus Services business. The Company is presenting its\ngroup businesses under the Formind Group identity as part of its broader\nstrategy to expand AI education, language learning, institutional education\nsupport and global technology initiatives. Additional information about\nFormind Group is available at www.formind.group. Information on that website\nis not part of this press release.\n\nAbout BioNexus Gene Lab Corp.\n\nBioNexus Gene Lab Corp. (NASDAQ: BGLC) is a technology-focused company\nadvancing innovation across biotechnology, precision diagnostics, and emerging\nhealthcare platforms. Through strategic investments, partnerships, and\nlicensing arrangements, BGLC supports the development and commercialization of\nnext-generation healthcare technologies. BGLC is building a platform spanning\nprecision medicine, gene-based technologies, AI-integrated healthcare\nsolutions, and selected biotechnology infrastructure opportunities in Asia and\nthe United States. Through its subsidiaries and strategic initiatives,\nBioNexus is focused on expanding access to advanced molecular diagnostics,\nsupporting regional commercialization of innovative healthcare technologies,\nand developing cross-border platforms for biotechnology growth.\n\nThe securities to be issued under the agreement have not been and will not be\nregistered under the U.S. Securities Act of 1933 and may not be offered or\nsold in the United States absent registration or an applicable exemption from\nregistration. This press release does not constitute an offer to sell or a\nsolicitation of an offer to buy any securities.\n\nForward-Looking Statements\n\nThis press release contains forward-looking statements within the meaning of\nthe safe harbor provisions of the U.S. Private Securities Litigation Reform\nAct of 1995, including statements in the quotations from the management of\nboth companies. These include statements about completion of the transaction,\nthe expected benefits of the license and share exchange, the commercialization\nof Cogni AI in Malaysia, healthcare digitalization in Malaysia, the Formind\nGroup strategy, future royalties and accounting treatment. Words such as\n“would,” “may,” “expect,” “plan,” “intend,” “aim” and\nsimilar expressions identify forward-looking statements.\n\nThese statements are based on current expectations and involve risks and\nuncertainties that could cause actual results to differ materially, including:\nwhether the closing conditions are satisfied, including BGLC’s acceptance\ntesting and each party’s due diligence; whether the licensed technology,\nwhich was developed in China and includes character-recognition functions,\nrequires a PRC export license under China’s Catalogue of Technologies\nProhibited or Restricted from Export, which RYET has not obtained and which\ncould be delayed or refused, and the ownership of the technology within the\nRYET Group; the financial condition of each party, each of which has disclosed\nsubstantial doubt about its ability to continue as a going concern; BGLC’s\nlimited current revenue, the volatility of its share price and the potential\nimpairment of RYET’s investment; dilution from share issuances by either\nparty; customer demand and adoption, including public-sector procurement\ndecisions, and the performance of Cogni AI on English- and Malay-language\nrecords; data-protection, healthcare and cross-border technology regulation;\nand accounting judgments and revenue recognition. The agreement does not\nassure completion, future customer contracts, revenue or profitability.\n\nForward-looking statements speak only as of the date of this press release.\nAdditional risks are described in RYET’s reports filed with or furnished to\nthe U.S. Securities and Exchange Commission, including its most recent Annual\nReport on Form 20-F, and in BGLC’s reports filed with the SEC. Readers\nshould not place undue reliance on these statements, and neither RYET nor BGLC\nundertakes any obligation to update them except as required by law.\n\nInvestor Relations and Corporate Communications\n\nFSR Capital, a FSR Group Company\nEmail: ir@fsr.group\n\nFSR Capital, which provides investor relations services to RYET, is part of\nFSR Group, which is owned by Sam Tan (Su-Leng Tan Lee), Chief Executive\nOfficer, President, a director and a shareholder of BGLC. FSR provides only\ninvestor relations services to RYET under an ongoing engagement and receives\nno fee or other compensation in connection with the transaction. Neither Mr.\nTan nor FSR holds RYET shares.\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX7scDDx-20261005","title":"RYET to Enter Malaysian Healthcare Through Exclusive Cogni AI License to BioNexus Gene Lab","author":"Globe Newswire","ticker":"BGLC","created":"2026-10-05T13:00:00.928Z","tickers":["BGLC","RYET"],"exchange":"NASDAQ","article_body":"KUALA LUMPUR, Malaysia, Oct. 05, 2026 (GLOBE NEWSWIRE) -- Ruanyun Edai\nTechnology Inc. (NASDAQ: RYET) (“RYET” or the “Company”) today\nannounced that it has signed a definitive agreement under which, on closing,\nRYET would grant BioNexus Gene Lab Corp. (NASDAQ: BGLC) (“BGLC”) an\nexclusive license of its Cogni AI document-intelligence platform for\nhealthcare in Malaysia, together with a reciprocal share exchange. The\nagreement would take Cogni AI into a new industry and a new market outside\nChina. RYET would be entitled to a 10% royalty on qualifying technology\nreceipts collected by BGLC and its affiliates and would receive 560,000 BGLC\nshares at closing, 150,000 of them in exchange for 500,000 new RYET ordinary\nshares, giving it a direct stake in the partner that would take its technology\nto market.\n\nThe agreement comes as Malaysia accelerates the digitalization of its public\nhealthcare system. In his National Day address on August 30, 2026, Prime\nMinister Anwar Ibrahim announced a RM1 billion allocation to accelerate\nhealthcare digitalization involving 150 hospitals and 2,000 health clinics,\nand the Health Minister has said the additional funding will allow the\nMinistry of Health to expand and accelerate its electronic medical records\nsystem. In July, a deputy director of the ministry’s Digital Health Division\nsaid only about 10% of the public healthcare ecosystem had been brought online\nand that the ministry aims for a fully digital, patient-centered healthcare\nsystem within five to ten years. Neither RYET nor BGLC is a party to, or has\nbeen awarded any contract under, these government programs, and Cogni AI is\nnot an electronic medical records system. The license would cover healthcare\nin Malaysia generally, and any public-sector business would depend on separate\nprocurement.\n\nThe agreement would put RYET’s Formind Group strategy into practice. Formind\nGroup, the identity under which RYET presents its group businesses, is built\non taking AI developed in one industry into new industries and international\nmarkets. BGLC would lead local implementation and may build and brand its own\napplications on Cogni AI, while RYET would supply and support the platform.\nFormind Global Holdings Sdn. Bhd. (“Formind Global”), RYET’s wholly\nowned Malaysian subsidiary, would take part in the parties’ wider\ncooperation in Malaysia and Southeast Asia.\n\n“Healthcare runs on records, and reading, checking and organizing records is\nwhat Cogni AI was designed to do,” said Maggie Fu, Chief Executive Officer\nof RYET. “Malaysia is investing to bring its health records online, and this\nagreement would give us a local partner with a shared stake in making Cogni AI\nwork there. That is the Formind Group idea: take technology we have built and\ndeployed in one industry and put it to work in the next, with partners who\nknow the local market.”\n\nFrom Highway Archives to Healthcare Records\n\nIn September, RYET announced the deployment of Cogni AI to digitize highway\nengineering archives in Ningxia, China, where it extracts catalog data, checks\nit against source documents and flags missing or out-of-sequence pages.\nHealthcare records demand the same accuracy, with stricter rules on data.\nUnder the agreement, patient data must be hosted in Malaysia, the RYET Group\nmay not access it from outside Malaysia, and clinical decisions remain with\nhealthcare providers.\n\n“Much of Malaysia’s public healthcare record-keeping is still\npaper-based,” said Sam Tan, Chief Executive Officer of BioNexus Gene Lab\nCorp. “Cogni AI, already deployed in China, would give us an engine for\nturning paper records into structured, checkable data, hosted in Malaysia\nunder Malaysian rules. We plan to start in healthcare, and the agreement would\nlet us take the platform into other industries in Malaysia as opportunities\narise.”\n\nKey Terms\n* License: ten years from closing, renewable at BGLC’s option for two\nfurther five-year terms (up to 20 years in total), and exclusive in Malaysian\nhealthcare for the full term, subject to the agreement’s milestone, cure and\ntermination provisions. No rollout milestones have been agreed, and no fee is\npayable on renewal. While the license is exclusive, the RYET Group, including\nFormind Global, may pursue Cogni AI opportunities in the licensed fields in\nMalaysia only through BGLC or through RYET-led projects that BGLC approves.\n* Other industries: BGLC may add any other industry in Malaysia, including\neducation, by notice, with the same 10% royalty applying. Exclusivity in each\nadded industry continues only if BGLC or an affiliate signs a customer\ncontract in that industry within 12 months.\n* Royalty: 10% of qualifying technology receipts that BGLC and its affiliates\ncollect, net of specified deductions, with no minimum royalty or guaranteed\nrevenue. Testing, clinical and consultation fees and separately identifiable\nservices such as implementation and hosting are excluded.\n* Support: RYET would provide deployment assistance, a 12-month warranty and,\nthroughout the license term, security patches, fixes and general updates at no\nadditional charge. If RYET stops supporting the technology for more than 60\ndays for any reason, including insolvency, it must deliver to BGLC the source\ncode and related materials needed to maintain and support BGLC’s\ndeployments, for use only for that purpose for the rest of the term.\n* Shares: at closing, BGLC would issue 410,000 common shares to RYET for the\nlicense and a further 150,000 in exchange for 500,000 RYET ordinary shares,\nwith no cash payment or true-up. The shares would be subject to transfer\nrestrictions.\n* License consideration: US$3.5 million, to be satisfied at closing by the\n410,000 license shares. This is the contractual amount, not the shares’\nmarket value or GAAP revenue. Based on Nasdaq closing prices on October 2,\n2026, the last trading day before signing, of US$1.27 for BGLC and US$0.8599\nfor RYET, the 410,000 license shares had a quoted value of US$520,700; the\n150,000 BGLC exchange shares, US$190,500; and the 500,000 RYET shares,\nUS$429,950.\n* Liability and governing law: each party’s liability is capped at\nUS$1,000,000, except for fraud, willful misconduct and obligations to pay\nmoney. The cap does not apply to RYET’s obligation, if the RYET Group\nbreaches the exclusivity or non-solicitation provisions, to pay BGLC the\namounts received from the breaching activity, and BGLC may claim lost profits\nfor RYET’s breach of the exclusivity, license-activation or Malaysia\ndata-hosting provisions. From signing until closing, the RYET Group may not\nnegotiate or grant rights to Cogni AI or a competing product in Malaysian\nhealthcare to anyone else. The agreement is governed by Malaysian law, with\ndisputes resolved by arbitration in Kuala Lumpur.\nUnder the agreement, the share exchange is separate from, and does not reduce,\nthe license consideration. RYET’s accounting for the license and share\nissuances remains subject to final assessment, and any revenue would be\nrecognized as performance obligations are satisfied. The transaction has not\nyet closed, and closing requires satisfaction of the applicable closing\nconditions and recording of the contemplated share issuances. Those conditions\ninclude BGLC’s written acceptance of the technology after testing, each\nparty’s due diligence, required corporate and regulatory approvals, and any\nPRC approval, registration or license RYET needs to license and deliver the\ntechnology.\n\nRYET is required to deliver the technology within 60 days after signing unless\nthe parties agree another date in writing. Either party not in default may\nterminate if closing has not occurred by March 31, 2027, unless the parties\nextend that date in writing. Either party may terminate for the other’s\nuncured material breach or insolvency. BGLC may also terminate if the\ntechnology fails acceptance testing a second time, or within 90 days after\nlearning of a change of control of RYET or of the Cogni AI business. Where\nBGLC could terminate for RYET’s breach, insolvency or change of control, it\nmay instead keep the license, including exclusivity, in force for the rest of\nthe term.\n\nAbout Ruanyun Edai Technology Inc.\n\nRuanyun Edai Technology Inc. is an AI-driven education technology company\nfocused on intelligent content recognition, automated assessment and\nnext-generation learning systems. The Company has historically developed and\nprovided AI-enabled teaching, learning and assessment solutions, including\nsmart homework, smart examination and digital education services, and since\nSeptember 2025 has provided campus operations and student-life services\nthrough its Smart Campus Services business. The Company is presenting its\ngroup businesses under the Formind Group identity as part of its broader\nstrategy to expand AI education, language learning, institutional education\nsupport and global technology initiatives. Additional information about\nFormind Group is available at www.formind.group. Information on that website\nis not part of this press release.\n\nAbout BioNexus Gene Lab Corp.\n\nBioNexus Gene Lab Corp. (NASDAQ: BGLC) is a technology-focused company\nadvancing innovation across biotechnology, precision diagnostics, and emerging\nhealthcare platforms. Through strategic investments, partnerships, and\nlicensing arrangements, BGLC supports the development and commercialization of\nnext-generation healthcare technologies. BGLC is building a platform spanning\nprecision medicine, gene-based technologies, AI-integrated healthcare\nsolutions, and selected biotechnology infrastructure opportunities in Asia and\nthe United States. Through its subsidiaries and strategic initiatives,\nBioNexus is focused on expanding access to advanced molecular diagnostics,\nsupporting regional commercialization of innovative healthcare technologies,\nand developing cross-border platforms for biotechnology growth.\n\nThe securities to be issued under the agreement have not been and will not be\nregistered under the U.S. Securities Act of 1933 and may not be offered or\nsold in the United States absent registration or an applicable exemption from\nregistration. This press release does not constitute an offer to sell or a\nsolicitation of an offer to buy any securities.\n\nForward-Looking Statements\n\nThis press release contains forward-looking statements within the meaning of\nthe safe harbor provisions of the U.S. Private Securities Litigation Reform\nAct of 1995, including statements in the quotations from the management of\nboth companies. These include statements about completion of the transaction,\nthe expected benefits of the license and share exchange, the commercialization\nof Cogni AI in Malaysia, healthcare digitalization in Malaysia, the Formind\nGroup strategy, future royalties and accounting treatment. Words such as\n“would,” “may,” “expect,” “plan,” “intend,” “aim” and\nsimilar expressions identify forward-looking statements.\n\nThese statements are based on current expectations and involve risks and\nuncertainties that could cause actual results to differ materially, including:\nwhether the closing conditions are satisfied, including BGLC’s acceptance\ntesting and each party’s due diligence; whether the licensed technology,\nwhich was developed in China and includes character-recognition functions,\nrequires a PRC export license under China’s Catalogue of Technologies\nProhibited or Restricted from Export, which RYET has not obtained and which\ncould be delayed or refused, and the ownership of the technology within the\nRYET Group; the financial condition of each party, each of which has disclosed\nsubstantial doubt about its ability to continue as a going concern; BGLC’s\nlimited current revenue, the volatility of its share price and the potential\nimpairment of RYET’s investment; dilution from share issuances by either\nparty; customer demand and adoption, including public-sector procurement\ndecisions, and the performance of Cogni AI on English- and Malay-language\nrecords; data-protection, healthcare and cross-border technology regulation;\nand accounting judgments and revenue recognition. The agreement does not\nassure completion, future customer contracts, revenue or profitability.\n\nForward-looking statements speak only as of the date of this press release.\nAdditional risks are described in RYET’s reports filed with or furnished to\nthe U.S. Securities and Exchange Commission, including its most recent Annual\nReport on Form 20-F, and in BGLC’s reports filed with the SEC. Readers\nshould not place undue reliance on these statements, and neither RYET nor BGLC\nundertakes any obligation to update them except as required by law.\n\nInvestor Relations and Corporate Communications\n\nFSR Capital, a FSR Group Company\nEmail: ir@fsr.group\n\nFSR Capital, which provides investor relations services to RYET, is part of\nFSR Group, which is owned by Sam Tan (Su-Leng Tan Lee), Chief Executive\nOfficer, President, a director and a shareholder of BGLC. FSR provides only\ninvestor relations services to RYET under an ongoing engagement and receives\nno fee or other compensation in connection with the transaction. Neither Mr.\nTan nor FSR holds RYET shares.\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-10-05T13:00:02.093883255Z","server_sent_at_ms":1791205202093},"received_at":"2026-10-05T13:00:02.144Z","source_url":null},"analysis":{"id":"149183","press_release_id":"160608","analysis_json":{"industry":{"label":"Biotechnology","sector":"Health Care"},"redFlags":["Transaction has not closed; conditions include PRC export license RYET has not obtained and could be delayed or refused","Both RYET and BGLC have disclosed substantial doubt about going concern","No minimum royalty, no guaranteed revenue, and no rollout milestones agreed","License consideration of US$3.5M satisfied by shares worth only US$520,700 at last close -- contractual amount far above quoted market value","Neither party has any contract under Malaysia's healthcare digitalization programs; Cogni AI is not an EMR system","BGLC CEO Sam Tan owns FSR Group, the investor-relations firm serving RYET -- disclosed conflict","Micro-cap share issuances on both sides; potential impairment of RYET's stake and dilution risk","BGLC can terminate within 90 days of a change of control of RYET or the Cogni AI business"],"eventType":"partnership","narrative":"BGLC signed a definitive agreement for an exclusive 10-year license (extendable to 20 years) of RYET's Cogni AI platform for healthcare in Malaysia, with a 10% royalty to RYET and the right to expand into other Malaysian industries.\n\nBGLC would pay US$3.5 million in license consideration via 410,000 shares (quoted value US$520,700 at Oct 2 closes) and issue 150,000 additional shares in a reciprocal exchange for 500,000 RYET shares.\n\nThe deal has not closed: it requires BGLC acceptance testing, due diligence, regulatory approvals, and a PRC export license RYET has not obtained, and either party may terminate if closing has not occurred by March 31, 2027. Both companies have disclosed going-concern doubt, no minimum royalty or rollout milestones are guaranteed, and BGLC's CEO owns the IR firm serving RYET -- a disclosed conflict of interest.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"BGLC lands exclusive Malaysian healthcare rights to Cogni AI for stock -- but the deal hinges on a PRC export license, acceptance testing, and two going-concern-qualified micro-caps."},"keyFigures":{"dealValueUsd":"$3.5 million","sharesOffered":560000,"customDimensions":{"license_term":"10 years, renewable for two 5-year terms (up to 20 years)","royalty_rate":"10%","liability_cap":"$1,000,000","bglc_close_price_oct2":"US$1.27","ryet_close_price_oct2":"US$0.8599","exchange_shares_to_ryet":150000,"license_shares_quoted_value":"$520,700","exchange_shares_quoted_value":"$190,500","license_consideration_shares":410000,"ryet_shares_received_by_ryet":500000}},"quotedText":"Healthcare runs on records, and reading, checking and organizing records is what Cogni AI was designed to do","namedEntities":{"people":[{"name":"Maggie Fu","role":"CEO of Ruanyun Edai Technology Inc."},{"name":"Sam Tan (Su-Leng Tan Lee)","role":"CEO, President, director and shareholder of BioNexus Gene Lab Corp.; owner of FSR Group"},{"name":"Anwar Ibrahim","role":"Prime Minister of Malaysia"}],"products":["Cogni AI document-intelligence platform"],"companies":[{"name":"BioNexus Gene Lab Corp.","ticker":"BGLC","relationship":"filer / licensee"},{"name":"Ruanyun Edai Technology Inc.","ticker":"RYET","relationship":"licensor / partner"},{"name":"Formind Global Holdings Sdn. Bhd.","relationship":"RYET's wholly owned Malaysian subsidiary"},{"name":"FSR Capital","relationship":"investor relations provider to RYET, owned by BGLC CEO Sam Tan"}],"dollarAmounts":[{"amount":"US$3.5 million","context":"license consideration, satisfied by 410,000 BGLC shares"},{"amount":"US$520,700","context":"quoted value of 410,000 license shares at Oct 2, 2026 close"},{"amount":"US$190,500","context":"quoted value of 150,000 BGLC exchange shares"},{"amount":"US$429,950","context":"quoted value of 500,000 RYET shares in the exchange"},{"amount":"US$1,000,000","context":"each party's liability cap"},{"amount":"RM1 billion","context":"Malaysia government allocation for healthcare digitalization (context only; neither party awarded contracts)"}]},"materialImpact":{"score":3,"reasoning":"BGLC gains a 10-year exclusive Malaysian healthcare license to Cogni AI with an option to extend to 20 years and expand to other industries, paid in shares (410,000 license shares valued at US$520,700) rather than cash. 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