Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 682

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 1C
Chunk 682
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 on or before February 17, 2025, the Company shall demonstrate compliance with Listing Rule 5505, and that during the exception
period, the Company shall provide prompt notification of any significant events that occur during this time that may affect the Company’s
compliance with Nasdaq requirements.

87

On March 7, 2025, the Hearings Advisor from the Nasdaq Office of General
Counsel sent a letter to Donohoe Advisory Associates LLC, who have advised the Company on SEC compliance matters, noting that on February
13, 2025, the Company had completed its business combination with the Company Co., Ltd. and finding that “[t]he post transaction
entity demonstrated compliance with the requirements for initial listing under Listing Rule 5505 and the securities of OSRH began trading
on the Nasdaq Capital Market February 18, 2025. ... [a]ccordingly, the Panel has determined to continue the listing of the Company’s securities
on The Nasdaq Stock Market LLC and is closing this matter.”

Results of Operations 

Our entire activity since inception through December 31,
2024 related to our formation, IPO, identifying a target company for a Business Combination and consummating the acquisition of OSR. We
do not expect to generate any operating revenues until after the completion of an initial business combination. We generated non-operating income
in the form of interest income on investments held after our IPO. We will incur increased expenses as a result of being a public company
(for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses in connection with searching
for, and completing, an initial business combination.

For the year ended December 31, 2024, we had net loss of
$2,410,879 which consisted of income from investments held in the Trust Account of $1,450,228 and interest income of $2,181, offset
by general and administrative expenses of $3,524,549, provision for income taxes of $295,728, and interest expense of $43,011. For the
year ended December 31, 2023, we had net income of $403,780 which consisted of income from investments held in the Trust Account
of $2,775,291, offset by general and administrative expenses of $1,830,700 and provision for income taxes of $540,811.

Liquidity and Capital Resources 

Our liquidity needs had been