Company: LHI
Filing Date: 2025-02-14
Form Type: DRS/A
Source: 0001213900-25-014190
Chunk: 260

Company: Living Homeopathy International Ltd.
Filing Date: 2025-02-14
Form: DRS/A
Chunk 260
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 losses on assets that have a low risk of loss. As
an emerging growth company, the Company was permitted to adopt the new standard for fiscal years beginning after December 15, 2022, including
interim periods within those fiscal years. The Company has early adopted the new standard effective April 1, 2022, which didn’t
have a material impact on the consolidated financial statements.

<div align='center'>F-15</div>

New accounting standards not yet adopted

In November 2023, the FASB issued Accounting Standards
Update (“ASU”) No. 2023-07, Segment Reporting (Topic 280), Improvements to Reportable Segment Disclosures. The purpose
of the update was to improve financial reporting by requiring disclosures of incremental segment information on an annual and interim
basis for all public entities to enable investors to develop more decision-useful financial analyses. The amendments in this ASU are effective
for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early
adoption permitted and requires retrospective application to all periods presented in the consolidated financial statements. Management
is evaluating the impact on the Company’s consolidated financial statements.

In December 2023, the FASB issued ASU 2023-09,
Income Taxes (Topic 740): Improvements to Income Tax Disclosures (ASU 2023-09), which requires disclosure of incremental income tax information
within the rate reconciliation and expanded disclosures of income taxes paid, among other disclosure requirements. ASU 2023-09 is effective
for fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company’s management does not believe the adoption
of ASU 2023-09 will have a material impact on its consolidated financial statements and disclosures.

Except for the above-mentioned pronouncements,
there are no new recent issued accounting standards that will have a material impact on the consolidated balance sheets, statements of
income and comprehensive income and cash flows.

Note 3 – Inventories, net

Inventories, net, consisted of the following:

|                  |     | As of March 31, |      2024 |     |   |    2023 |
|:-----------------|:----|:----------------|----------:|:----|:--|--------:|
| Raw materials    |     | $               |   556,402 |     | $ |