Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 1652

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 7A
Chunk 1652
---
,000

    -

    Repayments to note payable - related party

    (40,000
    )

    -

    Payment of offering costs

    -

    (1,447,273
    )
  
    Repayments to note payable - Sponsor

    -

    (1,200,000
    )
  
    Proceeds from convertible note payable

    800,000

    -

    Proceeds from affiliate

    15,000

    395,000

    Repayments to affiliate

    (15,000
    )

    (340,000
    )
  
    Net cash provided by (used in) financing activities

    (33,669,029
    )

    34,539,499

    NET CHANGE IN CASH

    50,716

    (109,082
    )

    CASH, BEGINNING OF YEAR

    15,419

    124,501

    CASH, END OF YEAR
     
    $
    66,135

    $
    15,419

    Supplemental disclosures of cash flow information

    Cash paid during the year for

    Income taxes
     
    $
    461,957

    $
    -

    Supplemental disclosure of noncash investing and financing activities

    Excise tax payable
     
    $
    362,321

    $
    359,957

    Deferred underwriters’ discount payable charged to additional paid-in capital
     
    $
    -

    $
    2,070,000

The accompanying notes are an integral part
of the consolidated financial statements.

F-6

OSR HOLDINGS, INC.

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

NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER 31, 2024

NOTE 1–DESCRIPTION OF ORGANIZATION, BUSINESS OPERATIONS AND BASIS OF
PRESENTATION

OSR Holdings, Inc. (formerly
known as Bellevue Life Sciences Acquisition Corp.) (the “Company”) was incorporated in Delaware on February 25, 2020.
The Company was incorporated for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization,
reorganization or similar business combination with one or more businesses or entities (the “Business Combination”).
The Company is an emerging growth company and, as such