Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 1554

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 7
Chunk 1554
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 Compliance

As previously reported
by the Company on Form 8-K filed on June 28, 2023, due to the resignation of a director effective on June 21,
2023, the Company notified the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) that the Company
was not currently in compliance with Nasdaq Listing Rule 5605(c)(2)(A) (the “Listing Rule”). The Listing Rule requires the
Audit Committee of the Board of Directors be composed of at least three members, each of whom must meet independence requirements under
the Nasdaq Listing Rules and the Securities Exchange Act of 1934, as amended. The Company regained compliance with the Listing Rule on
June 23, 2024.

As previously reported
by the Company on Form 8-K filed on June 13, 2024, due to the resignation of directors effective on June 7, 2024,
the Company notified the Listing Qualifications Department of Nasdaq that the Company was not currently in compliance with Nasdaq’s
majority independent board, compensation committee composition and audit committee composition requirements as described in Nasdaq Listing
Rules 5605(b)(1), 5605(d)(2)(A) and 5605(c)(2)(A), respectively (the “Additional Listing Rules”). OSR, Inc. regained compliance
with the Additional Listing Rules on June 23, 2024.

F-10

OSR HOLDINGS, INC.

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

NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER 31, 2024

On February 15,
2024, the Company received a notification from the Listing Qualifications Department of Nasdaq notifying the Company that the Company
no longer meets the minimum 300 public holders requirement for The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(3) (the
“Minimum Public Holders Requirement”). The notice is only a notification of deficiency, not of imminent delisting, and has
no current effect on the listing or trading of the Company’s securities on the Nasdaq Capital Market. On April 1, 2024, the
Company submitted to Nasdaq a plan to regain compliance with the Minimum Public Holders Requirement and, on April 17, 2024, the staff
of Nasdaq approved the plan and granted the Company an extension until August 13,