Company: OCG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043484
Chunk: 170

Company: Oriental Culture Holding LTD
Filing Date: 2025-05-15
Form: 20-F
Item: Item 19
Chunk 170
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 Company plans to reinvest those earnings in the PRC indefinitely in the foreseeable future.

Lease commitments

The Company has
four non-cancellable operating lease agreements for three office units and one warehouse. These lease agreements have lease terms
expiring between December 2024 and October 2025 with a monthly rental of approximately $8,400, $1,900, $180 and $250, respectively.

Rent expense for
the years ended December 31, 2024, 2023 and 2022 was $ 93,925 177,189 179,552

Note 16 - 
Subsequent Events

The Company evaluated
subsequent events and transactions that occurred after the balance sheet date through the date when the financial statements were issued.
Based on this review, except as discussed below, the Company did not identify any subsequent events that would require adjustment or
disclosure in the financial statements.

On January 23, 2025, the Company’s
Board of Directors approved the appointment of Mr. Aimin Kong as the Chief Operating Officer (“ COO”) of the Company for
a term of5years and agreed to grant12million preferred shares of the Company to Mr. Kong, among which8million preferred shares
shall vest upon satisfying certain earn out terms and performance of the Company. The shares were valued at approximately $1.75million on grant date. As of the date of this report, none of the preferred shares have been issued.

In
January 2025, the Company issued the 840,000

On April 25, 2025,1,530,000warrants were exercised
on a cashless basis for1,324,587ordinary shares of the Company.

On April 28,
2025, the Company’s Board of Directors approved granting of 500,000 2,040,000

F-33

ORIENTAL CULTURE HOLDING
LTD.

CONDENSED BALANCE SHEETS

                                                                                                                                                                                                            December 31,                       December 31,                   
                                                                                                                                                                                                            2024                               2023                           
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  ASSETS                                                                                                                                                                                                                                                                      
  CURRENT ASSETS                                                                                                                                                                                                                                                              
  Cash and cash equivalents                                                                                                                                                                                 $                  14,411,389      $                  14,979,793  
  Short-term investment                                                                                                                                                                                                         5,256