Company: EUDAW
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001641172-25-006627
Chunk: 144

Company: EUDA Health Holdings Ltd
Filing Date: 2025-04-29
Form: 20-F
Item: Item 19
Chunk 144
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 its online platform. On March 25, 2024,
CKHP signed another agency contract which include the exclusive distribution rights to distribute bioenergy cabins in Malaysia from Guangzhou
Beauty Wellness Health Technology Co., Ltd. (“ GBHT”). Pursuant to the Share Purchase Agreement, EUDA has agreed to acquire
the entire issued capital of CKHP for an aggregate consideration of 8,571,428 15.0 1.75 2.0 5.0 The acquisition has been closed on May 8, 2024 (“ Acquisition Date”). Meng Dong (James) Tan, a significant
shareholder of EUDA, who holds more than 25% of the currently issued and outstanding ordinary shares of the EUDA, is also a 40% shareholder
of Fortress Cove before the Acquisition Date.

EUDA
accounted for the acquisition of Fortress Cove as the purchase of an asset under generally accepted accounting principles in the U. S.
(U. S. GAAP). Under this method of accounting, the assets of Fortress Cove will be recorded as of the Acquisition Date at their fair values
and consolidated with EUDA. The fair value estimates include, but are not limited to, future expected cash flows, revenue and expense
projections and discount rates.

EUDA
HEALTH HOLDINGS LIMITED AND SUBSIDIARIES

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

(In
U. S. dollars, unless stated otherwise)

The
following table summarizes the consideration transferred:

Schedule
of consideration transferred

                                                                Acquisition Date                  
  Fair value of equity transferred in Acquisition Date (1)      $                     15,000,000  
  Fair value of contingent consideration (2)                                          -           
  Total consideration transferred                               $                     15,000,000  

  (2)      There                                                                                                                                  
           is a contingent consideration where up to 1,000,000 new EUDA shares will be issued to the shareholders of Fortress Cove if net income  
           of CKHP is at least $ 2,000,000 for Fiscal Year 2024 and $ 5,000,000 for Fiscal Year 2025 (“ Milestones”). The contingent              
           consideration will be issued as soon as practicable after both Milestones are achieved. Based on the financial forecast of CKHP,       
           CKHP forecasted the probability of achieving the Milestones is very unlikely in Fiscal Year 2024 and Fiscal Year 2025. Hence, CKHP     
           considered the fair value of the