Company: EUDAW
Filing Date: 2025-09-24
Form Type: 20-F/A
Source: 0001493152-25-014808
Chunk: 57

Company: EUDA Health Holdings Ltd
Filing Date: 2025-09-24
Form: 20-F/A
Chunk 57
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 refundable if the business combination will not be completed by November 30, 2022. Initially, the Company recognized the subscribed shares deposit liability in accordance with ASC 480, “Distinguishing Liabilities from Equity” on inception. On November 17, 2022, Upon the closing of the Business Combination with 8i, the Company issued 120,000ordinary shares to this investor and transferred such the subscribed shares deposit liability into equity as capital contribution.

Forgiveness of debt by a related party

On March 31, 2022, the Company and Wilke Services Limited (“Wilke”) entered into a deed of release of debt (“Deed”), pursuant to the Deed, upon the closing of the Business Combination, Wilke agrees to release and discharge the Company from the obligation to repay to Wilke of $ 2,763,018. As Wilke is a shareholder of the Company, such debt forgiveness was treated as an addition to the Company’s capital during the year ended December 31, 2022 Ordinary Shares.

Ordinary shares

The Company is authorized to issue unlimitedordinary shares of nopar value. Holders of the Company’s ordinary shares are entitled to one vote for each ordinary share.

- Issuance of ordinary shares to EHL

On July 25, 2022, the Company issued 4,626,667ordinary shares ( 500,000ordinary share before reverse recapitalization) for total consideration of $ 500,000to the shareholder of EHL.

The shares and corresponding capital amounts and all per share data related to EHL’s outstanding ordinary shares prior to the Reverse Recapitalization have been retroactively adjusted using the Exchange Ratio.

-Issuance of ordinary shares upon the reverse recapitalization (See Note 4)

On November 17, 2022, upon the consummation of the Business Combination, the Company issued an aggregate total of 6,191,770ordinary shares to 8i and various service provider.

| F-37 |

EUDA HEALTH HOLDINGS LIMITED AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(In U.S. dollars, unless stated otherwise)

The following table presents the number of the Company’s ordinary shares issued upon the Reverse Recapitalization:

Schedule of reverse recapitalization

|                                                                  |     | Ordinary Shares |            |   |
| 8i ordinary shares outstanding prior to Reverse Recapitalization |     |                 | 11,073,500 |