SCHEDULE 13D/A 0001641172-25-002493 0001261725 XXXXXXXX LIVE 1 Common Stock 04/02/2025 false 0001834105 04529L106 IMPACT BIOMEDICAL INC.

1400 Broadfield Blvd. Suite 130 Houston TX 77084

Heng Fai Ambrose Chan 011 65 6333 9181 9 Temasek Boulevard #16-04, Suntec Tower Singapore U0 038987 0001261725 N Heng Fai Ambrose Chan a OO N U0 0.00 351555.00 0.00 351555.00 351555.00 N 2.9 IN Mr. Chan is, personally and through an entity he controls, the majority shareholder of Alset Inc., and the Chairman and Chief Executive Officer of Alset Inc. Alset International Limited is a majority owned subsidiary of Alset Inc. Mr. Chan may be deemed to be the beneficial owner of 351,555 shares of common stock held by Alset International Limited. The percentage set forth above is based on 12,085,412 shares of the Issuer's common stock outstanding as of April 4, 2025. 0001750106 N Alset Inc. a OO N TX 0.00 351555.00 0.00 351555.00 351555.00 N 2.9 CO Consists of 0 shares of common stock held by Alset Inc. directly, and shares held by its subsidiary Alset International Limited, which holds 351,555 shares of common stock. The percentage set forth above is based on 12,085,412 shares of the Issuer's common stock outstanding as of April 4, 2025. 0001660984 N Alset International Limited a OO N U0 0.00 351555.00 0.00 351555.00 351555.00 N 2.9 CO The percentage set forth above is based on 12,085,412 shares of the Issuer's common stock outstanding as of April 4, 2025. 0001823066 N Global Biomedical Pte. Ltd. OO N U0 0.00 0.00 0.00 0.00 0.00 N 0 CO Common Stock IMPACT BIOMEDICAL INC. 1400 Broadfield Blvd. Suite 130 Houston TX 77084 This Schedule 13D/A is filed by Heng Fai Chan, Alset Inc., Alset International Limited, and Global Biomedical Pte. Ltd. Each of the foregoing is referred to as a "Reporting Person" and collectively as the "Reporting Persons". The business addresses of the Reporting Persons are as follows: (i) Heng Fai Chan is c/o Alset International Limited, 9 Temasek Boulevard #16-04, Suntec Tower Two, Singapore 038989; (ii) Alset Inc. is 4800 Montgomery Lane, Suite 210, Bethesda, MD 20814; (iii) Alset International Limited is 9 Temasek Boulevard #16-04, Suntec Tower Two, Singapore 038989; and (iv) Global Biomedical Pte. Ltd. is c/o Alset International Limited, 9 Temasek Boulevard #16-04, Suntec Tower Two, Singapore 038989. Heng Fai Chan is the Chairman and Chief Executive Officer of Alset Inc. and the Chairman and Chief Executive Officer of Alset International Limited. The business address of Alset Inc. is 4800 Montgomery Lane, Suite 210, Bethesda, MD 20814. The business address of Alset International Limited is 9 Temasek Boulevard #16-04, Suntec Tower Two, Singapore 038989. Alset Inc. is a diversified holding company, Alset International Limited and Global Biomedical Pte. Ltd. are its subsidiaries. No Reporting Person has, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). No Reporting Person has, during the last five years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and, as a result of such proceeding, was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws, or finding any violation with respect to such laws. Heng Fai Chan is a citizen of Singapore. Alset Inc. is a Texas corporation. Alset International Limited and Global Biomedical Pte. Ltd. are Singapore companies. On April 2, 2025, Alset International Limited sold 300,000 shares of the Issuer's common stock at a weighted average sale price of $0.581. This transaction was executed in multiple trades at prices ranging from $0.551 to $0.607. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected. On April 2, 2025, Alset International Limited sold 200,000 shares of the Issuer's common stock at a weighted average sale price of $0.674. This transaction was executed in multiple trades at prices ranging from $0.67 to $0.80. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected. On April 2, 2025, Alset International Limited sold 2,349 shares of the Issuer's common stock at a weighted average sale price of $0.673. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected. On April 2, 2025, Alset Inc. sold 382,427 shares of the Issuer's common stock at a weighted average sale price of $0.583. This transaction was executed in multiple trades at prices ranging from $0.57 to $0.63. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected. On April 3, 2025, Alset Inc. sold 351,631 shares of the Issuer's common stock at a weighted average sale price of $0.579. This transaction was executed in multiple trades at prices ranging from $0.50 to $0.73. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected. On April 3, 2025, Global Biomedical Pte. Ltd. sold 273,286 shares of the Issuer's common stock at a weighted average sale price of $0.779. This transaction was executed in multiple trades at prices ranging from $0.75 to $0.84. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected. On April 4, 2025, Global Biomedical Pte. Ltd. sold 180,000 shares of the Issuer's common stock at a weighted average sale price of $0.96 This transaction was executed in multiple trades at prices ranging from $0.93 to $0.997. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected. On April 2, 2025, Alset International Limited sold 300,000 shares of the Issuer's common stock at a weighted average sale price of $0.581. This transaction was executed in multiple trades at prices ranging from $0.551 to $0.607. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected. On April 2, 2025, Alset International Limited sold 200,000 shares of the Issuer's common stock at a weighted average sale price of $0.674. This transaction was executed in multiple trades at prices ranging from $0.67 to $0.80. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected. On April 2, 2025, Alset International Limited sold 2,349 shares of the Issuer's common stock at a weighted average sale price of $0.673. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected. On April 2, 2025, Alset Inc. sold 382,427 shares of the Issuer's common stock at a weighted average sale price of $0.583. This transaction was executed in multiple trades at prices ranging from $0.57 to $0.63. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected. On April 3, 2025, Alset Inc. sold 351,631 shares of the Issuer's common stock at a weighted average sale price of $0.579. This transaction was executed in multiple trades at prices ranging from $0.50 to $0.73. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected. On April 3, 2025, Global Biomedical Pte. Ltd. sold 273,286 shares of the Issuer's common stock at a weighted average sale price of $0.779. This transaction was executed in multiple trades at prices ranging from $0.75 to $0.84. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected. On April 4, 2025, Global Biomedical Pte. Ltd. sold 180,000 shares of the Issuer's common stock at a weighted average sale price of $0.96 This transaction was executed in multiple trades at prices ranging from $0.93 to $0.997. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected. The responses to Items 7-13 of the cover pages of this Schedule 13D are incorporated herein by reference. Mr. Chan may be deemed to have voting and dispositive power over the shares of the Issuer's common stock owned by Alset Inc., Alset International Limited, and Global Biomedical Pte. Ltd. The responses to Items 7-13 of the cover pages of this Schedule 13D are incorporated herein by reference. Mr. Chan may be deemed to have voting and dispositive power over the shares of the Issuer's common stock owned by Alset Inc., Alset International Limited, and Global Biomedical Pte. Ltd. None of the Reporting Persons has acquired any shares of the Issuer's common stock during the previous sixty days except as follows: On March 31, 2025, Alset International Limited sold 300,000 shares of the Issuer's common stock at a weighted average sale price of $1.028. This transaction was executed in multiple trades at prices ranging from $0.82 to $1.29. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected. On April 1, 2025, Alset International Limited sold 400,000 shares of the Issuer's common stock at a weighted average sale price of $0.9816. This transaction was executed in multiple trades at prices ranging from $0.6938 to $1.36. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected. On April 1, 2025, Alset Inc. sold 650,000 shares of the Issuer's common stock at a weighted average sale price of $1.447. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected. On April 1, 2025, Alset Inc. sold 1,176,918 shares of the Issuer's common stock at a weighted average sale price of $1.08. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected. None. N/A On April 2, 2025, the Reporting Persons entered into a Joint Filing Agreement in which the Reporting Persons agreed to the joint filing on behalf of each of them of statements on Schedule 13D with Respect to the securities of the Issuer to the extent required by applicable law. The Joint Filing Agreement is attached hereto as Exhibit 99.1 and is incorporated herein by reference. Other than as described herein, there are no contracts, arrangements, understandings or relationships among the Reporting Persons, or between the Reporting Persons and any other person, with respect to the securities of the Issuer. Alset International Limited's majority shareholder is Alset Inc. Mr. Chan is, personally and through entities he controls, the largest shareholder of Alset Inc. Mr. Chan is the Chairman of Alset International Limited and the Chief Executive Officer and Chairman of Alset Inc. Global Biomedical Pte. Ltd. is a wholly owned subsidiary of Alset International Limited. Joint Filing Agreement dated April 2, 2025 by and between Heng Fai Chan, Alset Inc., Alset International Limited, and Global Biomedical Pte. Ltd. Heng Fai Ambrose Chan /s/ Heng Fai Ambrose Chan 04/04/2025 Alset Inc. /s/ Heng Fai Ambrose Chan 04/04/2025 Alset International Limited /s/ Heng Fai Ambrose Chan 04/04/2025 Global Biomedical Pte. Ltd. /s/ Heng Fai Ambrose Chan 04/04/2025