Company: OSRH
Filing Date: 2025-01-29
Form Type: S-4/A
Source: 0001213900-25-007923
Chunk: 463

Company: OSR Holdings, Inc.
Filing Date: 2025-01-29
Form: S-4/A
Chunk 463
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 Company had operating revenue (the Company had non -operatingincome in 2022 from a one -timegain on the disposition of certain financial assets, as described below). Cost of sales Cost of sales was KRW 3.3 billion, consisting of costs of medical devices purchased (for resale) by the Company’s RMC subsidiary in South Korea. Gross profit Gross profit was KRW 1.2 billion from the sales of medical devices by the Company’s RMC subsidiary in South Korea. Administrative Expenses Administrative expenses consist of personnel -relatedexpenses, including salaries, benefits, bonus, and travel. Other administrative expenses include amortization of intangible assets, research and development expenses, professional services fees, such as legal, audit, and investor/press relations, research and development expenses, non -incometaxes, insurance costs, cost of outside consultants and employee recruiting and training costs. Administrative expenses increased 1,930% in 2023, primarily as a result of the amortization of acquired patents (81%) and consolidation of expenses acquired by subsidiaries (15%) which were not reflected in 2022 financial results. Moreover, New OSR Holdings expects to incur additional expenses associated with operating as a public

292 company, including legal, accounting, insurance, exchange listing and SEC compliance and investor relations. New OSR Holdings expects quarterly selling, general and administrative expenses, excluding stock compensation expense, to increase to an average of approximately $1.5 million per quarter from mid -2024through the end of 2025. Research and Development (R&D) Expenses R&D expenses consist primarily of costs incurred for research activities, including the development of product candidates, pre -clinicaland clinical trials and related costs of salaries and contractors. R&D costs are expensed as incurred. OSR Holdings did not have any research and development expenses for the years ended December 31, 2022 and 2021. In 2023, OSR Holdings R&D expenses were KRW 324 million, which came from the fully consolidated subsidiaries. New OSR Holdings expects to incur and report R&D related expenses mainly from its subsidiaries and affiliates actively engaged in R&D at an estimated amount of $2.5 million to $3.0 million per quarter from mid -2024through the end of 2025. Non-Operating Income (Loss) Finance income decreased from KRW 2.3 billion in 2022 to KRW 25 million in 2023. In 2022, the Company had a one -