Company: EUDAW
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001641172-25-006627
Chunk: 112

Company: EUDA Health Holdings Ltd
Filing Date: 2025-04-29
Form: 20-F
Item: Item 19
Chunk 112
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6  
  Notes to Consolidated Financial Statements                                                                                      F-7  

  75  

  J& S ASSOCIATE PLT                                          Tel: +603-4813 9469             

REPORT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

  To:      The                                                                  

Opinion
on the Financial Statements

We
have audited the accompanying consolidated balance sheet of EUDA Health Holdings Limited and its subsidiaries (collectively, the “ Company”)
as of December 31, 2024, the related consolidated statements of operations and comprehensive income, shareholders’ deficit, and
cash flows for the year ended December 31, 2024, and the related notes to the consolidated financial statements and schedule (collectively,
the financial statements). In our opinion, the financial statements present fairly, in all material respects, the financial position
of the Company as of December 31, 2024, and the results of its operations and its cash flows for the year ended December 31, 2024, in
conformity with accounting principles generally accepted in the United States of America

Substantial
Doubt about the Company’s Ability to Continue as a Going Concern

The
accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. The Company
has generated a loss and suffered from an accumulated deficit of $50,100,426 as of December 31, 2024 and a deficit in shareholders’
equity of $2,553,059 as of that date. These matters raise substantial doubt about the Company’s ability to continue as a going
concern. Management’s plans with regards to these matters are also described in Note 2 to the financial statements. These financial
statements do 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. We are a public accounting firm registered with the Public Company Accounting Oversight Board
(United States) (PCAOB) and are required to be independent with respect to the Company in accordance with U. S. federal securities laws
and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We
conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial