Company: OSRH
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109054
Chunk: 71

Company: OSR Holdings, Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 2
Chunk 71
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 in noninvasive glucose monitoring and biosensing technologies. Under the agreement, WORIO will become a wholly owned subsidiary of OSRK. WORIO shareholders will receive newly issued OSRK shares
worth KRW15bn (~$10.5m) in exchange for WORIO shares. If, within 3 years of the share exchange, OSRH reaches at least $10 per share, OSRK
shares may be converted into OSRH common stock at a ratio of 12.96:1 or approximately 1.09 million new shares. Following the acquisition,
WORIO will leverage OSRH's governance, global partnerships and clinical development resources to accelerate product development, enhance
supply readiness, and boost commercialization speed and efficiency

27

Results of Operations

Comparison of the Three and Nine Months Ended September
30, 2024 and 2025

The following tables present OSR Holdings’ statements of operations
for the three and nine months ended September 30, 2024 and 2025, and percentage change between the two periods:

    Three Months Ended September 30, 

    2024  
    2025  
    Change $  
    Change % 
  
    Net Sales: 
     822,996  
     627,747  
     -195,249  
     -24%
  
    Cost of Sales 
     643,903  
     366,014  
     -277,889  
     -43%
  
    Gross Profit 
     179,093  
     261,734  
     82,641  
     46%
  
    Expenses: 

    Selling, general and administrative expenses 
     3,745,635  
     4,065,199  
     319,564  
     9%
  
    Operating loss 
     (3,566,542) 
     (3,803,465) 
     -236,923  
     7%
  
    Other income (expense) 
     70,448  
     (686,361) 
     -756,809  
     -1,074%
  
    Profit (loss) before income taxes 
     (3,496,094) 
     (4,489,826) 
     -993,732  
     28%

    Nine Months Ended September