Company: EUDAW
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001641172-25-006627
Chunk: 4

Company: EUDA Health Holdings Ltd
Filing Date: 2025-04-29
Form: 20-F
Item: Item 3
Chunk 4
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factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern. The financial statements
contained elsewhere in this Form 20-F do not include any adjustments that might result from the outcome of this uncertainty.

   4  

EUDA
and our independent registered public accounting firm identified material weakness in the Company’s internal control over financial
reporting, and if EUDA is unable to achieve and maintain effective internal control over financial reporting, this could have a material
adverse effect on our business.

The Company produces our consolidated financial statements in accordance
with the requirements of U. S. GAAP. Effective internal controls are necessary for EUDA to provide reliable financial reports to help mitigate
the risk of fraud and to operate as a publicly traded company. Prior to the Business Combination, EUDA was a private company with limited
accounting personnel and other resources with which to address internal controls and procedures. EUDA and our independent registered public
accounting firm identified material weaknesses in the Company’s internal controls over financial reporting in connection with the
audits of EUDA’s financial statements for the year ended December 31, 2024 and 2023. A “material weakness” is a deficiency,
or a combination of deficiencies, in internal control over financial reporting such that there is a reasonable possibility that a material
misstatement of our annual or interim financial statements will not be prevented or detected on a timely basis.

The material weakness that was identified related to: (i) the lack of appropriate
controls in the financial reporting process, specifically related to account reconciliations. As a result
of this material weakness, the Company’s management concluded that our internal control over financial reporting was not effective
as of December 31, 2024 and 2023. EUDA is in the process of developing a plan to remediate this material weakness and will continue
to identify additional appropriate remediation measures. However, the material weakness will not be considered remediated until the
remediation plan has been fully implemented, the applicable controls are fully operational for a sufficient period of time, and the Company
has concluded, through testing, that the newly implemented and enhanced controls are operating effectively.

At
this time, EUDA cannot predict the success of such efforts or the outcome of future assessments of the remediation efforts. As a public
company, EUDA will be required to further design, document and test the Company’s internal controls over financial reporting to
comply with Sarbanes-Oxley