Company: LICN
Filing Date: 2025-01-29
Form Type: 424B5
Source: 0001213900-25-007741
Chunk: 79

Company: Lichen International Ltd
Filing Date: 2025-01-29
Form: 424B5
Chunk 79
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 standards. Enrome LLP is headquartered in Singapore. As of the date of this annual report, Enrome LLP is
not included in the list of PCAOB Identified Firms in the PCAOB Determination Report issued in December 2021. Our auditors, B&V for
the fiscal year ended December 31, 2020 and TPS Thayer for the fiscal year ended December 31, 2021 and 2022, are both based in the U.S.
B&V withdrew its registration from the PCAOB in January 2022. TPS Thayer is headquartered in Sugar Land, Texas, and its registration
with the PCAOB took effect in September 2020 and it is currently subject to PCAOB inspections. See “Risk Factors — Risks
Related to Doing Business in China — The recent joint statement by the SEC and PCAOB, proposed rule changes submitted
by Nasdaq, and the Holding Foreign Companies Accountable Act all call for additional and more stringent criteria to be applied to emerging
market companies upon assessing the qualification of their auditors, especially the non-U.S. auditors who are not inspected by the
PCAOB. These developments could add uncertainties to our offering” on page 29.

Our management monitors the cash position of each
entity within our organization regularly and prepare budgets on a monthly basis to ensure each entity has the necessary funds to fulfill
its obligation for the foreseeable future and to ensure adequate liquidity. In the event that there is a need for cash or a potential
liquidity issue, it will be reported to our Chief Financial Officer and subject to approval by our board of directors, we will enter into
an intercompany loan for the subsidiary in accordance with the applicable PRC laws and regulations. However, the funds or assets may not
be available to fund operations or for other use outside of the PRC or Hong Kong due to interventions in or the imposition of restrictions
and limitations on the ability of us or our subsidiaries by the PRC government to transfer cash or assets. See “Risk Factors — Risks
Related to Doing Business in China — To the extent cash or assets in the business is in the PRC or Hong Kong or a
PRC or Hong Kong entity, the funds or assets may not be available to fund operations or for other use outside of the PRC or Hong Kong
due to interventions in or the imposition of restrictions and limitations on the ability of us or our subsidiaries by the PRC government
to transfer cash or assets.”

Under