EUDA HEALTH HOLDINGS LIMITED Exhibit 99.1
EUDA HEALTH HOLDINGS LIMITED AND SUBSIDIARIES
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
| June 30, 2023 | December 31, 2022 | |||||||
| (Unaudited) | ||||||||
| ASSETS | ||||||||
| CURRENT ASSETS | ||||||||
| Cash | $ | 320,486 | $ | 143,024 | ||||
| Restricted cash | - | 641,461 | ||||||
| Accounts receivable, net | 880,226 | 1,851,503 | ||||||
| Other receivables | 20,261 | 7,467 | ||||||
| Due from related parties | - | 267,863 | ||||||
| Prepaid expenses and other current assets | 250,941 | 222,633 | ||||||
| Forward purchase receivables | - | 21,892,527 | ||||||
| Total Current Assets | 1,471,914 | 25,026,478 | ||||||
| PROPERTY AND EQUIPMENT, NET | 25,056 | 31,628 | ||||||
| OTHER ASSETS | ||||||||
| Prepaid expenses - non-current | 429,115 | 478,061 | ||||||
| Operating lease right-of-use assets | 117,905 | 76,528 | ||||||
| Finance lease right-of-use assets | 34,175 | 16,345 | ||||||
| Total Other Assets | 581,195 | 570,934 | ||||||
| Total Assets | $ | 2,078,165 | $ | 25,629,040 | ||||
| LIABILITIES AND SHAREHOLDERS' DEFICIT | ||||||||
| CURRENT LIABILITIES | ||||||||
| Short term loans - bank and private lender | $ | 299,057 | $ | 204,240 | ||||
| Short term loans - related parties | 236,873 | - | ||||||
| Promissory note | 160,000 | 170,000 | ||||||
| Convertible notes | 2,413,125 | 2,619,625 | ||||||
| Convertible notes - related parties | - | 782,600 | ||||||
| Accounts payable | 1,975,558 | 1,635,483 | ||||||
| Other payables and accrued liabilities | 1,653,034 | 1,592,815 | ||||||
| Other payables - related parties | 928,553 | 1,521,945 | ||||||
| Operating lease liability | 137,352 | 79,959 | ||||||
| Finance lease liabilities | 4,765 | 7,186 | ||||||
| Prepaid forward purchase liabilities | - | 20,321,053 | ||||||
| Taxes payable | 108,225 | 186,150 | ||||||
| Total Current Liabilities | 7,916,542 | 29,121,056 | ||||||
| OTHER LIABILITIES | ||||||||
| Operating lease liability - non-current | 107,141 | - | ||||||
| Finance lease liabilities - non-current | 30,084 | 15,015 | ||||||
| Total Other Liabilities | 137,225 | 15,015 | ||||||
| Total Liabilities | 8,053,767 | 29,136,071 | ||||||
| COMMITMENTS AND CONTINGENCIES | ||||||||
| SHAREHOLDERS' DEFICIT | ||||||||
| Ordinary shares, no par value, unlimited shares authorized, 24,777,509 shares and 20,191,770 shares outstanding as of June 30, 2023 and December 31, 2022* | 27,610,187 | 21,308,969 | ||||||
| Shares subscription receivable | (280,000 | ) | - | |||||
| Accumulated deficit | (33,218,092 | ) | (24,703,789 | ) | ||||
| Accumulated other comprehensive loss | (102,425 | ) | (125,689 | ) | ||||
| Total Euda Health Holdings Limited Shareholders' Deficit | (5,990,330 | ) | (3,520,509 | ) | ||||
| Noncontrolling interests | 14,728 | 13,478 | ||||||
| Total Shareholders' Deficit | (5,975,602 | ) | (3,507,031 | ) | ||||
| Total Liabilities and Shareholders' Deficit | $ | 2,078,165 | $ | 25,629,040 |
*Giving retroactive effect to reverse recapitalization effected on November 17, 2022
| 1 |
EUDA HEALTH HOLDINGS LIMITED AND SUBSIDIARIES
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
| For the Six Months Ended | ||||||||
| June 30, 2023 | June 30, 2022 | |||||||
| (Unaudited) | (Unaudited) | |||||||
| REVENUES | ||||||||
| Medical services | $ | 1,002,810 | $ | 2,987,058 | ||||
| Medical services - related parties | - | 135 | ||||||
| Product sales | - | 7,653 | ||||||
| Property management services | 1,803,010 | 2,100,214 | ||||||
| Total Revenues | 2,805,820 | 5,095,060 | ||||||
| COST OF REVENUES | ||||||||
| Medical services | 744,897 | 1,067,055 | ||||||
| Medical services - related party | - | 496,383 | ||||||
| Product sales | - | 9,491 | ||||||
| Property management services | 1,359,320 | 1,590,243 | ||||||
| Total Cost of Revenues | 2,104,217 | 3,163,172 | ||||||
| GROSS PROFIT | 701,603 | 1,931,888 | ||||||
| OPERATING EXPENSES: | ||||||||
| Selling | 531,095 | 650,800 | ||||||
| General and administrative | 4,063,863 | 2,930,932 | ||||||
| Impairment loss on long-lived assets | 124,662 | - | ||||||
| Research and development | 16,616 | 10,141 | ||||||
| Total Operating Expenses | 4,736,236 | 3,591,873 | ||||||
| LOSS FROM OPERATIONS | (4,034,633 | ) | (1,659,985 | ) | ||||
| OTHER INCOME (EXPENSE) | ||||||||
| Interest expense, net | (18,759 | ) | (32,086 | ) | ||||
| Gain on disposal of subsidiary | - | 30,055 | ||||||
| Change in fair value of prepaid forward purchase liabilities | (1,303,658 | ) | - | |||||
| Loss on settlement of prepaid forward contracts | (2,635,816 | ) | - | |||||
| Loss on debt settlement | (645,612 | ) | - | |||||
| Other income, net | 126,169 | 124,402 | ||||||
| Total Other (Expenses) Income, net | (4,477,676 | ) | 122,371 | |||||
| LOSS BEFORE INCOME TAXES | (8,512,309 | ) | (1,537,614 | ) | ||||
| PROVISION FOR INCOME TAXES | 862 | 97,953 | ||||||
| NET LOSS | (8,513,171 | ) | (1,635,567 | ) | ||||
| Less: Net income attributable to noncontrolling interest | 1,132 | 2,226 | ||||||
| NET LOSS ATTRIBUTABLE TO EUDA HEALTH HOLDINGS LIMITED | $ | (8,514,303 | ) | $ | (1,637,793 | ) | ||
| NET LOSS | (8,513,171 | ) | (1,635,567 | ) | ||||
| FOREIGN CURRENCY TRANSLATION ADJUSTMENTS | 23,382 | 2,698 | ||||||
| TOTAL COMPREHENSIVE LOSS | (8,489,789 | ) | (1,632,869 | ) | ||||
| Less: Comprehensive income attributable to noncontrolling interest | 1,250 | 971 | ||||||
| COMPREHENSIVE LOSS ATTRIBUTABLE TO EUDA HEALTH HOLDINGS LIMITED | $ | (8,491,039 | ) | $ | (1,633,840 | ) | ||
| WEIGHTED AVERAGE NUMBER OF ORDINARY SHARES* | ||||||||
| Basic and diluted | 21,125,241 | 9,253,333 | ||||||
| LOSS PER SHARE | ||||||||
| Basic and diluted | $ | (0.40 | ) | $ | (0.18 | ) |
*Giving retroactive effect to reverse recapitalization effected on November 17, 2022
| 2 |
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Euda Health Holdings Ltd. published this content on 29 December 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 December 2023 22:05:18 UTC.
