Company: OCG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043484
Chunk: 147

Company: Oriental Culture Holding LTD
Filing Date: 2025-05-15
Form: 20-F
Item: Item 19
Chunk 147
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                           464,814  
  Depreciation and amortization expense                                   488,130                            610,369                           654,709  
  Professional expenses                                                 1,090,632                          2,725,164                         2,282,134  
  Research and development expenses                                       107,727                                  -                                 -  
  Other general and administrative                                        505,374                            521,726                         2,183,824  
  General and administrative - related parties                            104,391                            234,289                           238,830  
  Other segment items:                                                                                                                                  
  Gain from short-term investment                                       ( 109,964                           ( 89,474                         ( 156,066  
  Interest income                                                       ( 763,190                          ( 372,199                         ( 226,158  
  Impairment loss on intangible assets                                    356,676                                  -                                 -  
  Other income, net                                                     ( 247,277                          ( 290,088                         ( 268,923  
  Income tax expenses                                                          93                             14,833                             4,812  
  Segment net loss                                  $                 ( 2,433,536      $                 ( 3,598,480      $                  3,235,686  

F-19

ORIENTAL CULTURE HOLDING LTD. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Recently issued accounting pronouncements

In December 2023, the FASB issued Accounting Standards
Update No. 2023-09, “ Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (“ ASU 2023-09”), which
modifies the rules on income tax disclosures to require entities to disclose (1) specific categories in the rate reconciliation, (2) the
income or loss from continuing operations before income tax expense or benefit (separated between domestic and foreign) and (3) income
tax expense or benefit from continuing operations (separated by federal, state and foreign). ASU 2023-09 also requires entities to disclose
their income tax payments to international, federal, state and local jurisdictions, among other changes. The guidance is effective for
annual periods beginning after December 15, 2024. Early adoption is permitted for annual financial statements that have not yet been issued
or made available for issuance. ASU 2023-09 should be applied on a prospective basis, but retrospective