Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 1782

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 8
Chunk 1782
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 Company’s management does not expect
that the total amount of unrecognized tax benefits will materially change over the next twelve months.

Offering Costs Associated with the Initial Public Offering 

The Company complies with the requirements of
ASC 340-10-S99-1, SEC SAB Topic 5A, and SEC SAB Topic 5T, “Accounting for Expenses or Liabilities Paid by Principal Stockholder(s)”. Offering
costs consist principally of professional and registration fees incurred through the Initial Public Offering that are related to the Initial
Public Offering. Offering costs were charged to temporary equity and permanent equity based on relative fair values, upon the completion
of the Initial Public Offering.

F-15

OSR HOLDINGS, INC.

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

NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER 31, 2024

Recent Accounting Pronouncements 

In November 2023, the
FASB issued ASU No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” ASU 2023-07
enhances reportable segment disclosures, primarily by requiring public entities to disclose significant segment expenses that are regularly
provided to the chief operating decision maker (“CODM”) and included in each reported measure of segment profit or loss. The
ASU also requires disclosure of the title and position of the CODM and an explanation of how the CODM uses the reported measures of segment
profit or loss. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning
after December 15, 2024. Early adoption is permitted.

The Company adopted ASU
2023-07 for the year ended December 31, 2024. The adoption of this standard did not have a material impact on the Company’s consolidated
financial statements, as the Company operates in a single reportable segment and does not present multiple segment profit or loss measures
to the CODM.

Management does not believe that any other
recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the
Company’s consolidated financial statements.

NOTE 3–INITIAL PUBLIC OFFERING 

Pursuant to the Initial Public Offering, the Company
sold 6,000,000 Units at a price of $10.00 per