Company: OSRH
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001213900-25-045947
Chunk: 85

Company: OSR Holdings, Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 2
Chunk 85
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9) months after the closing date of each respective
loan. The first Convertible Note in the principal amount of $445,000 shall close on or before one day after the filing of a related registration
statement on Form S-1. The second Convertible Note in the amount of $665,000 shall close one day after such registration statement becomes
effective.  

The
Company has agreed to allocate 10% of the proceeds from each purchase notice under the ELOC and/or warrant exercise toward the repayment
of the outstanding Convertible Note(s).  At any time, White Lion may convert one or both Convertible Notes at 95% multiplied by
the lowest Volume Weighted Average Price (“VWAP”) fifteen days prior to the conversion notice. The Company and the Investor
have agreed that no more than 4.99% of the shares outstanding will be issued to White Lion.

30

Result
of Operations

Comparison
of the Three Months Ended March 31, 2024 and 2025

The following table presents OSR Holdings’ statements of operations
for the three months ended March 31, 2024 and 2025, and percentage change between the two periods:

    Three Months Ended March 31, 

    2024  
    2025  
    Change $  
    Change % 
  
    Net Sales: 
     910,225  
     761,272  
     -148,954  
     -16%
  
    Cost of Sales 
     670,424  
     592,586  
     -77,838  
     -12%
  
    Gross Profit 
     239,802  
     168,686  
     -71,116  
     -30%
  
    Expenses: 

    Selling, general and administrative expenses 
     3,542,330  
     3,086,512  
     -455,818  
     -13%
  
    Operating loss 
     (3,302,528) 
     (2,917,826) 
     384,702  
     -12%
  
    Other income (expense) 
     (52,834) 
     (8,474,988) 
     -8,422,154  
     15,941%
  
    Profit (loss) before income taxes