RE: EUDA Nasdaq3 Jan 2024 08:31
Gimmeshelter,
following copy & paste is from 6-K - December 29, 2023, EUDA Health Holdings Limited, NasdaqCM. this may give you a clear indication of what happened & will occur.
" The accompanying unaudited condensed consolidated financial statements have been prepared on a going concern basis, ..............
Major Development and Business Overview
On September 8, 2023, the Board of Directors held a Board meeting and all Members of Board of Directors has thoroughly reviewed the current market conditions and strategic considerations, and reached to a resolution that disposing of certain medical-related business units is in the best interests of the Company and its shareholders. The proceeds from the disposal shall be allocated in accordance with the financial strategy outlined by the CFO, with consideration given to reinvestment opportunities and shareholder value. The Company has assessed the Board’s resolution about the disposing of certain medical-related business unit and determined that it qualifies as discontinued operations under ASC205-20. "