Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 1427

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 6
Chunk 1427
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 until August 13, 2024 to demonstrate compliance with the Minimum
Public Holders Requirement (the “Compliance Period”).

On August 20, 2024, the Company received written
notice (the “Second Notice”) from Nasdaq stating that the Company has not regained compliance with the Minimum Public Holders
Requirement within the Compliance Period. In accordance with the Second Notice, the Company timely requested a hearing before the Hearings
Panel (the “Panel”), which automatically stayed any suspension or delisting action of the Company’s securities, and
the hearing was held on October 1, 2024. On October 4, 2024, the Panel granted the Company’s request for continued listing
on the Nasdaq, subject to the requirement that on or before February 17, 2025, the Company shall demonstrate compliance with Listing
Rule 5505, and that during the exception period, the Company shall provide prompt notification of any significant events that occur during
this time that may affect the Company’s compliance with Nasdaq requirements. On March 7, 2025, the Company received a letter from
the Nasdaq Office of General Counsel, stating that the post-business combination entity satisfied the initial listing requirements under
Listing Rule 5505, and as a result, the Hearings Panel has determined to continue the listing of the Company’s securities on The
Nasdaq Stock Market LLC and has closed the matter.

Basis of Presentation 

The accompanying consolidated financial
statements are presented in U.S. dollars in conformity with accounting principles generally accepted in the United States of America
(“GAAP”) and pursuant to the rules and regulations of the SEC.

Liquidity and Going Concern 

As of December 31, 2024, the Company had $66,135 in its operating
bank account and a working capital deficit of $6,263,411. The Company’s liquidity needs prior to the consummation of the Initial
Public Offering had been satisfied through proceeds from advances from related party and from the issuance of common stock. Subsequent
to the consummation of the Initial Public Offering, the Company’s liquidity was satisfied through the net proceeds from the consummation
of the Initial Public Offering, the proceeds from the Private Placement Units held outside of the Trust Account and loans from the Sponsor,
officers and directors and their affiliates.

The Company has incurred
recurring operating losses and negative cash flows from operating activities since its inception and expects to continue to incur operating