Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 1349

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 6
Chunk 1349
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, the Company had completed its business combination with the Company Co., Ltd. and finding that “[t]he post transaction
entity demonstrated compliance with the requirements for initial listing under Listing Rule 5505 and the securities of OSRH began trading
on the Nasdaq Capital Market February 18, 2025. ... [a]ccordingly, the Panel has determined to continue the listing of the Company’s securities
on The Nasdaq Stock Market LLC and is closing this matter.”

Results of Operations 

Our entire activity since inception through December 31,
2024 related to our formation, IPO, identifying a target company for a Business Combination and consummating the acquisition of OSR. We
do not expect to generate any operating revenues until after the completion of an initial business combination. We generated non-operating income
in the form of interest income on investments held after our IPO. We will incur increased expenses as a result of being a public company
(for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses in connection with searching
for, and completing, an initial business combination.

For the year ended December 31, 2024, we had net loss of
$2,410,879 which consisted of income from investments held in the Trust Account of $1,450,228 and interest income of $2,181, offset
by general and administrative expenses of $3,524,549, provision for income taxes of $295,728, and interest expense of $43,011. For the
year ended December 31, 2023, we had net income of $403,780 which consisted of income from investments held in the Trust Account
of $2,775,291, offset by general and administrative expenses of $1,830,700 and provision for income taxes of $540,811.

Liquidity and Capital Resources 

Our liquidity needs had been satisfied prior to the completion of our
IPO through a capital contribution from our Sponsor of $25,000 for the founder shares and an aggregate of $1,200,000 in loans from our
Sponsor under unsecured promissory notes. Upon the closing of our IPO, the promissory notes were be deemed to be repaid and settled in
connection with the private placement. Further, we have incurred and expect to continue to incur significant costs in pursuit of our financing
and acquisition plans.

The net proceeds from (i) the sale of the Units