Scienture Holdings, Inc. — fact timeline

Scienture Holdings, Inc. shareholders approved Ratification of Appointment of MaloneBailey LLP as Independent Auditor at the 2023-06-15 meeting.

“Proposal 4—Ratification of Appointment of MaloneBailey LLP as Independent Auditor The Company's stockholders approved a proposal to ratify the appointment of MaloneBailey LLP as our independent auditor for the fiscal year ending December 31, 2023. The following votes were taken in connection with this proposal: FOR AGAINST ABSTAIN BROKER NON-VOTE Number % Number % Number % Number % 5,341,101 52.31 1,673 0.02 73,600 0.72 0 0”

Scienture Holdings, Inc. shareholders approved Election of Directors at the 2023-06-15 meeting.

“Proposal 3—Election of Directors The following individuals, constituting all of the nominees named in the Proxy Statement, were elected as directors”

Scienture Holdings, Inc. shareholders approved Amendment of the Second Amended and Restated 2019 Equity Incentive Plan at the 2023-06-15 meeting.

“Proposal 2—Amendment of the Second Amended and Restated 2019 Equity Incentive Plan The Company's stockholders approved a proposal to amend the Company's Second Amended and Restated 2019 Equity Incentive Plan to increase the number of shares reserved for issuance thereunder by 2,000,000 shares. The following votes were taken in connection with this proposal: FOR AGAINST ABSTAIN BROKER NON-VOTE Number % Number % Number % Number % 5,273,753 51.65 142, 621 1.40 0 0 0 0”

Scienture Holdings, Inc. shareholders approved Reverse Stock Split at the 2023-06-15 meeting.

“The following votes were taken in connection with this proposal: FOR AGAINST ABSTAIN BROKER NON-VOTE Number % Number % Number % Number % 5,327,981 52.18 88,393 0.87 0 0 0 0”

Scienture Holdings, Inc. reported the quarter ended March 31, 2023 results: revenue $2.2 million, net income ($0.7) million, EPS ($0.07) per basic and diluted share.

“First Quarter 2023 Financial Summary Consolidated revenues for the first quarter of 2023 compared to the first quarter of 2022 decreased 31% to $2.2 million, compared to $3.2 million, respectively. The decrease in consolidated revenue was driven by decreased revenue attributed to our Trxade Prime subsidiary. The revenues generated by the TRxADE Platform in the first quarter of 2023 compared to 2022 increased 4% and Trxade Prime year over year revenue declined 70% in 2023 compared to 2022. The subsidiary company Community Specialty Pharmacy experienced a 16% increase in revenue for the first quarter 2023 compared to 2022. Gross profit analysis of comparable fiscal periods of 2023 and 2022 reflect an increase in gross profits of $221,000 for the first quarter of 2023 compared to 2022. As a percent of revenue, consolidated gross profit increased to 69% for the comparable quarter periods of 2023 and 2022. Operating expenses for the first quarter of 2023 were $1.9 million, compared to $2.3”

Scienture Holdings, Inc. reported the year ended December 31, 2022 results: revenue $11.4 million, net income ($3.9) million, EPS ($0.41) per basic and diluted share outstanding.

“Consolidated revenues for the fiscal year of 2022 compared to the fiscal year of 2021 increased 16% to $11.4 million, compared to $9.9 million, respectively. The increase in consolidated revenue was driven by improved revenue attributed to our TRxADE Platform and Trxade Prime subsidiaries. The revenues generated by the TRxADE Platform in the fiscal year 2022 compared to 2021 increased 10% and Trxade Prime year over year revenue improved 46% in 2022 compared to 2021. The subsidiary company Community Specialty Pharmacy experienced a 29% decrease in revenue for the fiscal year 2022 compared to 2021. Gross profit analysis of comparable fiscal periods of 2022 and 2021 reflect an increase in gross profits of $0.7 million for the fiscal year of 2022 compared to 2021. As a percent of revenue, consolidated gross profit remained consistent at 48% for the comparable annual periods of 2022 and 2021. Operating expenses for the fiscal year of 2022 were $9.9 million, compared to $10 million in the fi”

Prashant Patel was appointed as Interim Principal Financial/Accounting Officer at Scienture Holdings, Inc..

“Also effective on March 6, 2023, Prashant Patel, a member of the Board of Directors, the President and the Chief Operating Officer of the Company, was appointed as Interim Principal Financial/Accounting Officer of the Company.”

Janet Huffman resigned as Acting Chief Financial Officer and Principal Financial/Accounting Officer at Scienture Holdings, Inc..

“On March 6, 2023, Ms. Huffman resigned as Acting Chief Financial Officer and Principal Financial/Accounting Officer of the Company in order to transition to a full-time role with another employer”

Janet Huffman changed role as Acting Chief Financial Officer at Scienture Holdings, Inc..

“Effective March 1, 2023, Ms. Huffman also transitioned from Chief Financial Officer to Acting Chief Financial Officer, but is remaining with the Company in that role and is continuing to serve as Principal Financial/Accounting Officer of the Company.”

Scienture Holdings, Inc. received a nasdaq delisting notice notice regarding stockholders equity.

“February 6, 2023, the Company submitted a hearing request to the Nasdaq Hearings Panel (the “ Panel ”), which request will stay any delisting action by the Staff at least until the hearing process concludes and any extension granted by the Panel expires. At the Panel hearing, the Company intends to present a plan to regain compliance with the minimum stockholders’ equity requirement. In the interim, the Company’s common stock will continue to trade on Nasdaq under the symbol “ MEDS ” at least pending the ultimate conclusion of the hearing process. There can be no assurance that the Company’s p”

Scienture Holdings, Inc. received a nasdaq delisting notice notice regarding stockholders equity (rules 5550(b)).

“January 30, 2023, the Company received a delist determination letter from the Staff advising the Company that the Staff had determined that the Company did not meet the terms of the extension. Specifically, the Company did not complete its proposed transactions and was unable to file a Current Report Form 8-K by the January 25, 2023 deadline previously required by the Staff, evidencing compliance with the Rule. As a result, unless the Company requests an appeal of the Staff’s determination, trading of the Company’s common stock will be suspended at the opening of business on February 8, 2023”

Scienture Holdings, Inc. entered into Membership Interest Purchase Agreements (Alliance Sale Agreement and CSP Sale Agreement) with Wood Sage, LLC valued at Total consideration of $125,000 (Alliance) + $100,000 (CSP) + approximately $266,000 due under Maste (effective 2023-01-20).

“On January 20, 2023, TRxADE HEALTH, Inc. (the “ Company ”, “ we ”, or “ us ”), entered into: (1) a Membership Interest Purchase Agreement with Wood Sage, LLC (“ Wood Sage ”), and the Company’s wholly-owned subsidiary, Alliance Pharma Solutions, LLC (“ Alliance ” and the “ Alliance Sale Agreement ”); and (2) a Membership Interest Purchase Agreement with Wood Sage and the Company’s wholly-owned subsidiary, Community Specialty Pharmacy, LLC (“ CSP ” and the “ CSP Sale Agreement ”, and together with the Alliance Sale Agreement, the “ Sale Agreements ”).”

Michael L. Peterson was appointed as Director at Scienture Holdings, Inc..

“On January 4, 2023, the Board of Directors of the Company, with the recommendation of the Nominating and Corporate Governance Committee of the Board of Directors, appointed Mr. Michael L. Peterson as a member of the Board of Directors, with such appointment to take effect immediately, to fill the vacancy left by Mr. Pope’s resignation.”

Charles L. Pope resigned as Director at Scienture Holdings, Inc..

“On January 3, 2023, Charles L. Pope resigned as a member of the Board of Directors of TRxADE HEALTH, INC.”

Scienture Holdings, Inc. shareholders approved Adjournment of Special Meeting if necessary to solicit additional proxies at the 2022-12-20 meeting.

“2. Proposal No. 2: To approve an adjournment of the Special Meeting, if necessary, to solicit additional proxies if there are not sufficient votes in favor of the proposal to approve the Warrant Share Issuance Proposal: For Against Abstentions Broker Non-Votes 5,519,397 48,893 2,700 0”

Scienture Holdings, Inc. shareholders approved Approval of issuance of up to 2,663,045 shares of common stock upon exercise of Private Placement Warrants at the 2022-12-20 meeting.

“1. Proposal No. 1: To approve the issuance of up to 2,663,045 shares of our common stock upon exercise of an outstanding common stock purchase warrant (the “ Private Placement Warrants ”), in accordance with the Nasdaq Listing Rules (the “ Warrant Share Issuance Proposal ”): For Against Abstentions Broker Non-Votes 5,557,740 11,610 2,640 0 Proposal No. 1 was approved by approximately 99.7% of the aggregate total of shares of common stock voted at the Special Meeting, and as such Proposal No. 1 was approved by the stockholders.”

Scienture Holdings, Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2)).

“November 29, 2022, TRxADE HEALTH, Inc. (the “ Company ”, “ we ” or “ us ”) received written notice (the “ Notification Letter ”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“ Nasdaq ”) notifying the Company that it is not in compliance with the minimum bid price requirements set forth in Nasdaq Listing Rule 5550(a)(2) for continued listing on The Nasdaq Capital Market. Nasdaq Listing Rule 5550(a)(2) requires listed securities to maintain a minimum bid price of $1.00 per share, and Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum bid price re”

Scienture Holdings, Inc. reported for the three and nine months ended September 30, 2022 results: revenue $2.4 million, net income ($0.5) million, EPS ($0.06) per basic and diluted share.

“growth opportunities.” Third Quarter 2022 Financial Summary Consolidated revenues for the third quarter of 2022 compared to the third quarter of 2021, decreased 6% to $2.4 million, compared to $2.6 million, respectively. The consolidated decrease in revenue, is driven by decreases in revenue attributed to our TRxADE Prime and Community Specialty Pharmacy”

Jeff Newell was appointed as Director at Scienture Holdings, Inc..

“On September 30, 2022, the Board of Directors of TRxADE HEALTH, INC. (“ TRxADE ”, the “ Company ”, “ we ” and “ us ”), with the recommendation of the Nominating and Corporate Governance Committee of the Board of Directors, appointed Mr. Jeff Newell as a member of the Board of Directors, with such appointment to take effect immediately.”

Christine L. Jennings resigned as Director at Scienture Holdings, Inc..

“On August 26, 2022, Christine L. Jennings resigned as a member of the Board of Directors of TRxADE HEALTH, INC.”

Janet Huffman was appointed as Chief Financial Officer at Scienture Holdings, Inc..

“On March 31, 2022, the Board of Directors approved the appointment of Ms. Janet Huffman, the Company’s Director of Finance (a non-executive position), as CFO and Principal Financial/Accounting Officer of the Company, effective April 2, 2022, upon effectiveness of Mr. Doss’ resignation.”

Howard A. Doss resigned as Chief Financial Officer at Scienture Holdings, Inc..

“Mr. Doss who has been employed as CFO since January 2014, is resigning to spend time with his family and pursue other business opportunities.”