Company: OSRH
Filing Date: 2025-01-29
Form Type: S-4/A
Source: 0001213900-25-007923
Chunk: 231

Company: OSR Holdings, Inc.
Filing Date: 2025-01-29
Form: S-4/A
Chunk 231
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 GAAP on its financial statements. OSR Holdings further concludes that other areas of accounting are materially and consistently applied in conformity with U.S. GAAP. Note 3 — Foreign currency translation OSR Holdings uses Korean Won (“KRW”) as its functional currency. The Company’s consolidated financial statements have been translated into US$, the reporting currency. Assets and liabilities accounts are translated using the exchange rate at each reporting period end date. Equity accounts are translated at historical rates. Income and expense accounts are translated at the average rate of exchange during the reporting period. The resulting translation adjustments are reported under other comprehensive income. Gains and losses resulting from the translations of foreign currency transactions and balances are reflected in the results of operations. The KRW is not freely convertible into foreign currency and all foreign exchange transactions must take place through authorized institutions. No representation is made that the KRW amounts could have been, or could be, converted into US$ at the rates used in translation. The following table presents the currency exchange rates that were used in creating the consolidated financial statements in this report:

|                                                           |     | September 30, 
 2024          |                |
|:----------------------------------------------------------|:----|:--------------|:---------------|
| Period-end spot rate                                      |     | US$           | 1=KRW 1,319.60 |
| Average rate for the nine months ended September 30, 2024 |     | US$           | 1=KRW 1,352.85 |

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|                    |     | December 31, 
 2023         |                |     | December 31, 
 2022         |                 |     | December 31, 
 2021         |                 |     | December 31, 
 2020         |                 |
|:-------------------|:----|:-------------|:---------------|:----|:-------------|:----------------|:----|:-------------|:----------------|:----|:-------------|:----------------|
| Year-end spot rate |     | US$          | 1=KRW 1,289.40 |     | US$          | 1= KRW 1,267.30 |     | US$          | 1= KRW 1,185.50 |     | US$          | 1= KRW 1,088.00 |
| Average rate       |     | US$          | 1=KRW 1,305.41 |     | US$