Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 477

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 1A
Chunk 477
---
    (109,082
    )

    CASH, BEGINNING OF YEAR

    15,419

    124,501

    CASH, END OF YEAR
     
    $
    66,135

    $
    15,419

    Supplemental disclosures of cash flow information

    Cash paid during the year for

    Income taxes
     
    $
    461,957

    $
    -

    Supplemental disclosure of noncash investing and financing activities

    Excise tax payable
     
    $
    362,321

    $
    359,957

    Deferred underwriters’ discount payable charged to additional paid-in capital
     
    $
    -

    $
    2,070,000

The accompanying notes are an integral part
of the consolidated financial statements.

F-6

OSR HOLDINGS, INC.

(f/k/a Bellevue Life Sciences Acquisition Corp.) 

NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER 31, 2024

NOTE 1–DESCRIPTION OF ORGANIZATION, BUSINESS OPERATIONS AND BASIS OF
PRESENTATION

OSR Holdings, Inc. (formerly
known as Bellevue Life Sciences Acquisition Corp.) (the “Company”) was incorporated in Delaware on February 25, 2020.
The Company was incorporated for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization,
reorganization or similar business combination with one or more businesses or entities (the “Business Combination”).
The Company is an emerging growth company and, as such, the Company is subject to all of the risks associated with emerging growth companies.

On February 14, 2025
(the “Closing Date”), OSR Holdings, Inc. consummated its previously announced business combination (the “Business Combination”)
with OSR Holdings Co., Ltd., a corporation organized under the laws of the Republic of Korea (“OSR”), pursuant to the Amended
and Restated Business Combination Agreement dated May 23, 2024, as amended on December 20, 2024 (the “Business Combination Agreement”).
The Business Combination Agreement was entered into among the Company, OSR, and certain OSR stockholders that executed joinder agreements
thereto. At Closing, the Company issued 16,282,047 shares of Company common stock to participating OSR stockholders in exchange for