Company: EUDAW
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001641172-25-006627
Chunk: 49

Company: EUDA Health Holdings Ltd
Filing Date: 2025-04-29
Form: 20-F
Item: Item 5
Chunk 49
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 in our services were much lower in the post Covid-19 era. As
a result, our Board has thoroughly reviewed the then market conditions and strategic considerations, and determined that streamlining
certain of our medical service units were in the best of our interests and our shareholders.

Net
Loss

We
had a net loss of approximately $10.0 million and $25.0 million for the years ended December 31, 2023 and 2022, respectively. Changes
of net loss for the year ended December 31, 2023 as compared to the same period in 2022 was predominately due to the reasons as discussed
above.

5B.
Liquidity and Capital Resources

Liquidity
and Capital Resources

In
assessing liquidity, we monitor and analyze cash on-hand and operating and capital expenditure commitments. Our liquidity needs are to
meet working capital requirements, operating expenses and capital expenditure obligations. Debt financing in the form of short-term borrowings
from banks, private lenders, third parties and related parties and cash generated from operations have been utilized to finance working
capital requirements. As of December 31, 2024, our working capital deficit was approximately $3.4 million, and we had cash of approximately
$0.2 million.

We
have experienced recurring losses from operations and negative cash flows from operating activities since 2020. In addition, we had,
and may potentially continue to have, an ongoing need to raise additional cash from outside sources to fund our expansion plan and related
operations. Successful transition to attaining profitable operations is dependent upon achieving a level of revenues adequate to support
our cost structure. In connection with our assessment of going concern considerations in accordance with Financial Accounting Standard
Board’s Accounting Standards Update (“ ASU”) 2014-15, “ Disclosures of Uncertainties about an Entity’s Ability
to Continue as a Going Concern,” management has determined that these conditions raise substantial doubt about our ability to continue
as a going concern within one year after the date that our consolidated financial statements are issued. The management’s plan
in addressing this uncertainty is through the following sources:

  other available sources                                                                 
  equity financing.                                                                       

In
light of the disparity between the exercise price of the warrants and our current trading price, it is very unlikely that any potential
proceeds from the exercise of our warrants will be realized in the near future. We are in active discussions with underwriters regarding
a potential financing transaction through the issuance