Company: OSRH
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076461
Chunk: 8

Company: OSR Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 8
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91,511  
     (32,462)
  
    Cash and cash equivalents at beginning of year 
     341,543  
     540,207 
  
    Cash and cash equivalents at end of year 
    $1,584,406  
    $496,794 
  
    Supplemental disclosures of cash flow information: 

    Cash paid for interest 
    $53,931  
    $26,541 
  
    Cash paid for income taxes (net of refunds received) 
     (40) 
     (8,293)

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

4

OSR HOLDINGS, INC.

NOTES TO CONDENSED
FINANCIAL STATEMENTS

June 30, 2025
and 2024

(UNAUDITED)

(1)Organization
                                            and nature of business

OSR Holdings, Inc. (the Company) and its subsidiaries
(collectively the Group) are a global healthcare company dedicated to advancing healthcare outcomes and improving the quality of life
for people and their families. The Group aims to build and develop a robust portfolio of innovative and potentially transformative therapies
and healthcare solutions. The Group’s current operating businesses (through the four wholly owned subsidiaries) include (i) developing
oral immunotherapies for the treatment of cancer, (ii) developing design-augmented biologics for age-related and other
degenerative diseases and (iii) neurovascular intervention medical device and systems distribution in Korea. The Group’s vision
is to acquire and operate a portfolio of innovative health-care related companies globally.

The Company (f/k/a Bellevue Life Sciences Acquisition
Corp. or BLAC) 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”),
the Company consummated its previously announced “Business Combination” with OSR Holdings Co., Ltd., a corporation organized
under the laws of the Republic of Korea (“OSR”), pursuant