Company: LICN
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036244
Chunk: 104

Company: Lichen International Ltd
Filing Date: 2025-04-29
Form: 20-F
Item: Item 19
Chunk 104
---
6,139                   ( 6,120  
  Ordinary shares issue for cash                     351,900               15,049          -                    -             -                                                        15,052                    15,052  
  Share based compensation (Note 15)                 10,100                3,413           -                    -             -                                                         3,413                     3,413  
  Business acquisition                               -                     -               -                    -             -                                                             -                     2,364  
  Foreign currency translation adjustments           -                     -               -                    -             ( 564                                                     ( 564                     ( 564  
  Balance as of                                      449,500               33,355          1,737                42,083        ( 3,997                                                  73,182                    75,565  

  Represents amount less than $1,000.  

   1      On                                                                                                                                        

The accompanying notes are an integral part
of these consolidated financial statements.

F-6

LICHEN INTERNATIONAL LIMITED

CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE YEARS ENDED DECEMBER 31, 2024, 2023
AND 2022

(All amounts in thousands
of USD, except for share and per share data, unless otherwise noted)

                                                                                         2024                   2023                   2022               
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Cash Flows from Operating Activities:                                                                                                                   
  Net (loss) income                                                                      $         ( 6,120      $           8,338      $           7,818  
  Adjustments to reconcile net income to net cash provided by operating activities:                                                                       
  Depreciation of property and equipment                                                               691                    681                    651  
  Amortization of intangible assets                                                                  2,063                  2,150                  1,958  
  Amortization of right-of-use assets                                                                  121                     92                     72  
  Amortization of other assets                                                                         115                     72                     50  
  Investment income                                                                                    ( 6                      -                      -  
  Share-based compensation                                                                           3,413                      -                      -  
  Changes in operating assets and liabilities:                                                                                                            
  Accounts receivable and contract assets                                                              642                  ( 982                     66  
  Prepayments and other current assets                                                             ( 4,746                ( 9,697