Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 1223

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 5
Chunk 1223
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 of $10.00 per unit at the
option of the lender, upon consummation of our initial business combination. The Units would be identical to the Private Placement Units.
We do not expect to seek loans from parties other than our Sponsor, officers and directors or their affiliates as we do not believe third
parties will be willing to loan such funds and provide a waiver against any and all rights to seek access to funds in our Trust Account.
Loans made by Chardan or any of its related persons, if any, will not be convertible into any of our securities and Chardan and its related
persons will have no recourse with respect to their ability to convert their loans into any of our securities.

Based on the foregoing and the limited amount of working capital that
the Company received into the operating account from the private placement, management believes its existing cash and cash equivalents
will be sufficient to fund its operating expenses and capital expenditure requirements, although its estimate is based on plans and assumptions
that may prove to be wrong, and the Company could use its available capital resources sooner that it correctly expects. These conditions
raise substantial doubt about the Company’s ability to continue as a going concern. Over this time period, the Company will be using
the remaining funds held outside of the Trust Account for paying existing accounts payable, identifying and evaluating prospective initial
business combination candidates, performing due diligence on prospective target businesses, paying for travel expenditures, selecting
the target business to merge with or acquire, and structuring, negotiating and consummating the initial business combination. Further
needs for operating capital beyond the Company’s current operating cash balance may need to be funded through loans from the Company’s
Sponsor, officers and directors and their affiliates. The financial statements do not include any adjustments that might result from the
outcome of this uncertainty.

As previously reported by the Company on Form 8-K dated October 22,
2024, on October 16, 2024, the Company issued an unsecured promissory note to Duksung Co., LTD. (“Duksung”) in
the principal amount of $800,000 (the “Duksung Promissory Note”). The Duksung Promissory Note bears interest at a simple
rate of 5% per annum; provided, however, solely for purposes of prepayment pursuant to a redemption of the Duksung Promissory Note, interest
shall be deemed to have accrued at a simple rate of 7% per annum and, unless earlier converted