Company: EUDAW
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001641172-25-006627
Chunk: 114

Company: EUDA Health Holdings Ltd
Filing Date: 2025-04-29
Form: 20-F
Item: Item 19
Chunk 114
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 United States of America.

We
were not engaged to audit, review, or apply any procedures to the adjustments to retrospectively apply the change in accounting described
in Note 21 and, accordingly, we do not express an opinion or any other form of assurance about whether such adjustments are appropriate
and have been properly applied. Those adjustments were audited by other auditors.

Explanatory
Paragraph - Going Concern

The
accompanying financial statements were prepared assuming that the Company will continue as a going concern. As more fully described in
Note 2 to the financial statements included in the Annual Report on Form 20-F filed on May 8, 2024, the Company had a significant working
capital deficiency, had incurred significant losses and needed to raise additional funds to meet its obligations and sustain its operations.
These conditions raised substantial doubt about the Company’s ability to continue as a going concern. Management’s plans
in regard to these matters were also described in Note 2. The financial statements did not include any adjustments that might result
from the outcome of this uncertainty.

Basis
for Opinion

These
financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s
financial statements based on our audit s

We
conducted our audit s s s

Our
audit s s s

/s/ Marcum Asia CPAs LLP

Marcum
Asia CPAs llp

We
served as the Company’s auditor from 2022 (such date takes into account the acquisition of certain assets of Friedman LLP by Marcum
Asia CPAs LLP effective September 1, 2022) to 2024.

New
York, NY

May
8, 2024

NEW YORK OFFICE • 7 Penn Plaza • Suite 830
• New York, New York • 10001

Phone 646.442.4845 • Fax 646.349.5200 • www. marcumasia. com

  F-2  

EUDA HEALTH HOLDINGS LIMITED AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

                                                                                                                                                                                   December 31,                        December 31,                    
                                                                                                                                                                                   2024                                2023                            
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