Company: EUDAW
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001641172-25-006627
Chunk: 41

Company: EUDA Health Holdings Ltd
Filing Date: 2025-04-29
Form: 20-F
Item: Item 5
Chunk 41
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 in impairment loss on long-lived assets was due to the impairment loss incurred on the intangible
assets acquired from Fortress Cove Limited (“ Fortress Cove”) and its subsidiary (“ Fortress Cove Acquisition”)
during the year ended December 31, 2024. Such impairment arises because the Fortress Cove Acquisition was treated as an asset acquisition
under ASC 805 rather than a business combination, and the fair value was found to be less than the relative fair value of the identifiable
intangible assets. As a result, no goodwill was recorded for the excess consideration over the net assets acquired. This impairment does
not imply a reduction in the overall intrinsic value of Fortress Cove, its physical condition, or its revenue-generating potential. It
stems from the fair value allocation required by ASC 805 during the asset acquisition, followed by an independent valuation of the intangible
assets in accordance with ASC 350.

Other
Expenses, Net

Our
other expense, net is summarized as follows:

                                                                    For the Year                         For the Year                           Change                             
                                                                                                                                                                                   
                                                                    Ended                                Ended                                                                     
                                                                                                                                                                                   
                                                                    December 31, 2024                    December 31, 2023                                                         
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Interest expense, net                                             $                      (44,890       $                         (23,225      $             (21,665        93.3  
  Change in fair value of prepaid forward purchase liabilities                             -                                    (1,303,658                  1,303,658      (100.0  
  Loss on settlement of prepaid forward contracts                                          -                                    (2,635,816                  2,635,816      (100.0  
  Loss on debt settlement                                                                  (448,000                               (645,612                    197,612       (30.6  
  Other income, net                                                                        185,859                                 134,584                     51,275        38.1  
  Total other expense, net                                          $                      (307,031      $                      (4,473,727      $           4,166,696       (93.1  

  28  

Total
other expense, net amounted to approximately $0.3 million and $4.5 million for the years ended December 31, 2024 and 2023, respectively.
This significant change was mainly due to the following:

Interest
expenses, net

The
increase of interest expenses