Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 1663

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 7A
Chunk 1663
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, 2024.

F-10

OSR HOLDINGS, INC.

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

NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER 31, 2024

On February 15,
2024, the Company received a notification from the Listing Qualifications Department of Nasdaq notifying the Company that the Company
no longer meets the minimum 300 public holders requirement for The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(3) (the
“Minimum Public Holders Requirement”). The notice is only a notification of deficiency, not of imminent delisting, and has
no current effect on the listing or trading of the Company’s securities on the Nasdaq Capital Market. On April 1, 2024, the
Company submitted to Nasdaq a plan to regain compliance with the Minimum Public Holders Requirement and, on April 17, 2024, the staff
of Nasdaq approved the plan and granted the Company an extension until August 13, 2024 to demonstrate compliance with the Minimum
Public Holders Requirement (the “Compliance Period”).

On August 20, 2024, the Company received written
notice (the “Second Notice”) from Nasdaq stating that the Company has not regained compliance with the Minimum Public Holders
Requirement within the Compliance Period. In accordance with the Second Notice, the Company timely requested a hearing before the Hearings
Panel (the “Panel”), which automatically stayed any suspension or delisting action of the Company’s securities, and
the hearing was held on October 1, 2024. On October 4, 2024, the Panel granted the Company’s request for continued listing
on the Nasdaq, subject to the requirement that on or before February 17, 2025, the Company shall demonstrate compliance with Listing
Rule 5505, and that during the exception period, the Company shall provide prompt notification of any significant events that occur during
this time that may affect the Company’s compliance with Nasdaq requirements. On March 7, 2025, the Company received a letter from
the Nasdaq Office of General Counsel, stating that the post-business combination entity satisfied the initial listing requirements under
Listing Rule 5505, and as a result, the Hearings Panel has determined to continue the listing of the Company’s securities on The
Nasdaq Stock Market LLC and has closed the matter.

Basis of Presentation 

The accompanying