Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 2094

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 9B
Chunk 2094
---
$100,000 of interest income earned in the Trust Account for payment of the
Company’s state franchise tax and income tax liabilities as permitted by the terms of the Trust Agreement governing the Trust Account.
On May 20, 2024, the Company paid $193,183 in franchise taxes. On May 23, 2024, the Company withdrew $218,857 of interest income
earned in the Trust Account for payment of the Company’s franchise tax and income tax liabilities as permitted by the terms of the
Trust Agreement governing the Trust Account. The Company deposited the funds in the Company’s unrestricted general account and they
were used for payment of general operating expenses. On October 29, 2024, the Company paid $127,200 in franchise taxes. On November
25, 2024, the Company withdrew $136,805 of interest income earned in the Trust Account for payment of the Company’s franchise
tax and income tax liabilities as permitted by the terms of the Trust Agreement governing the Trust Account. As of December 31, 2024,
the Company withdrew $1,017,619 of interest income earned in the Trust Account for payment of the Company’s franchise tax and
income tax liabilities as permitted by the terms of the Trust Agreement governing the Trust Account and paid $798,589 in franchise and
incomes taxes resulting in $219,030 having been withdrawn from the Trust Account and not used to pay franchise and income taxes.
As of December 31, 2024, the Company has outstanding income tax obligations of $358,333 and has recorded prepaid franchise taxes of $78,383
related to future periods.

Nasdaq Listing Rules Compliance

As previously reported
by the Company on Form 8-K filed on June 28, 2023, due to the resignation of a director effective on June 21,
2023, the Company notified the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) that the Company
was not currently in compliance with Nasdaq Listing Rule 5605(c)(2)(A) (the “Listing Rule”). The Listing Rule requires the
Audit Committee of the Board of Directors be composed of at least three members, each of whom must meet independence requirements under
the Nasdaq Listing Rules and the Securities Exchange Act of 1934, as amended. The Company regained compliance with the Listing Rule on
June 23, 2024.

As previously reported
by the