Company: EUDAW
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001641172-25-006627
Chunk: 3

Company: EUDA Health Holdings Ltd
Filing Date: 2025-04-29
Form: 20-F
Item: Item 3
Chunk 3
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 operations could be adversely impacted.

Uncertainties
and risks accompany our strategy to shift from medical services to the wellness industry.

In
September 2023, the Company decided to streamline its medical service operations by closing down clinics to reduce overhead costs and
further loss from operations as the demand in our services were much lower in the post Covid-19 era. This decision to streamline certain
medical-related business unit represented a strategic shift that had a major effect on the Company’s medical services financial
results, and qualifies as discontinued operations under ASC205-20. See “ Note 5 - Discontinued Operations” of consolidated
financial statements for the fiscal years ended December 31, 2024, 2023 and 2022 for details. As a result, the Company’s current
primary operations remained with its property management services. Although management has started to generate sales revenue from CK
Health’s wellness consumer products and services, and is actively exploring opportunities to expand its wellness services offerings
in the non-invasive healthcare market in Asia (e. g., by expanding its services offerings to include stem cell therapy services), there is no assurance that it will be successful in its efforts. See Item 4.
“ Information on the Company”

Our
independent registered public accounting firm’s report contains an explanatory paragraph that expresses substantial doubt about
our ability continue as a “going concern.”

The Company had a net loss of approximately $15.4 million and $10.0 million
for the years ended December 31, 2024 and 2023, respectively. As of December 31, 2024, the Company’s negative working capital deficit
was approximately $3.4 million, and the Company had cash of approximately $0.2 million. The Company has experienced recurring losses
from operations and negative cash flows from operating activities since 2020. In September 2023, we have streamlined our medical service
operations to minimize any further losses as the demand in our services were much lower in the post Covid-19 era. It is currently expected that the Company
will continue to have an ongoing need to raise additional cash from outside sources to fund its business operations and any
expansion plan. There is no assurance that the Company’s capital raising efforts will be successful. Successful transition to attaining
profitable operations is dependent upon achieving a level of revenues adequate to support the Company’s cost structure. Further,
the Company has incurred and expects to continue to incur significant professional costs to remain as a publicly traded company. These