Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 905

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 2
Chunk 905
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.2%

ASC 740 prescribes a recognition threshold
and a measurement attribute for the consolidated financial statements recognition and measurement of tax positions taken or expected
to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon
examination by taxing authorities. There were no unrecognized tax benefits as of December 31, 2024 and 2023. The Company
recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. No amounts were accrued for
the payment interest and penalties for the years ended December 31, 2024 and 2023. The Company is currently not aware of
any issues under review that could result in significant payments, accruals or material deviation from its position. The Company has
been subject to income tax examinations by major taxing authorities since inception. The Company’s management does not expect
that the total amount of unrecognized tax benefits will materially change over the next twelve months.

Offering Costs Associated with the Initial Public Offering 

The Company complies with the requirements of
ASC 340-10-S99-1, SEC SAB Topic 5A, and SEC SAB Topic 5T, “Accounting for Expenses or Liabilities Paid by Principal Stockholder(s)”. Offering
costs consist principally of professional and registration fees incurred through the Initial Public Offering that are related to the Initial
Public Offering. Offering costs were charged to temporary equity and permanent equity based on relative fair values, upon the completion
of the Initial Public Offering.

F-15

OSR HOLDINGS, INC.

(f/k/a Bellevue Life Sciences Acquisition Corp.) 

NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER 31, 2024

Recent Accounting Pronouncements 

In November 2023, the
FASB issued ASU No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” ASU 2023-07
enhances reportable segment disclosures, primarily by requiring public entities to disclose significant segment expenses that are regularly
provided to the chief operating decision maker (“CODM”) and included in each reported measure of segment profit or loss. The
ASU also requires disclosure of the title and position of the CODM and an explanation of how the CODM uses the reported measures of segment
profit or loss. ASU 2023-07 is effective for fiscal years