Company: OSRH
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001213900-25-045947
Chunk: 325

Company: OSR Holdings, Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 8
Chunk 325
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 the Company entered into a Note Purchase Agreement
with White Lion Capital, LLC, dba White Lion GBM Innovation Fund, a Nevada limited liability company (“White Lion”).

Pursuant
and subject to the terms of the Note Purchase Agreement, White Lion has loaned the Company the principal amount of $1,110,000 at an interest
rate of 5% per annum subject to two Convertible Notes maturing on the date occurring Nine (9) months after the closing date of each respective
loan. The first Convertible Note in the principal amount of $445,000 shall close on or before one day after the filing of a related registration
statement on Form S-1. The second Convertible Note in the amount of $665,000 shall close one day after such registration statement becomes
effective.  

The
Company has agreed to allocate 10% of the proceeds from each purchase notice under the ELOC and/or warrant exercise toward the repayment
of the outstanding Convertible Note(s).  At any time, White Lion may convert one or both Convertible Notes at 95% multiplied by
the lowest Volume Weighted Average Price (“VWAP”) fifteen days prior to the conversion notice. The Company and the Investor
have agreed that no more than 4.99% of the shares outstanding will be issued to White Lion.

30

Result
of Operations

Comparison
of the Three Months Ended March 31, 2024 and 2025

The following table presents OSR Holdings’ statements of operations
for the three months ended March 31, 2024 and 2025, and percentage change between the two periods:

    Three Months Ended March 31, 

    2024  
    2025  
    Change $  
    Change % 
  
    Net Sales: 
     910,225  
     761,272  
     -148,954  
     -16%
  
    Cost of Sales 
     670,424  
     592,586  
     -77,838  
     -12%
  
    Gross Profit 
     239,802  
     168,686  
     -71,116  
     -30%
  
    Expenses: 

    Selling, general and administrative expenses 
     3,542,330  
     3,086,512  
     -455,818