Company: OCG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043484
Chunk: 151

Company: Oriental Culture Holding LTD
Filing Date: 2025-05-15
Form: 20-F
Item: Item 19
Chunk 151
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 Total current liabilities                          33,201  
  Total net assets                                 ( 29,282  
  Total consideration                                   ( 1  
  Exchange rate effect                                4,183  
  Gain on disposal               $                 ( 25,098  

Note 5 - Accounts receivables, net

The Company’s net accounts receivable are
as follows:

                                         December 31,                    December 31,                
                                         2024                            2023                        
 ─────────────────────────────────────────────────────────────────────────────────────────────────────
  Trade accounts receivable              $                   42,012      $                 42,357    
  Less: allowance for credit losses                        ( 41,734                        ( 42,357  
  Accounts receivable, net               $                      278      $                 -         

F-22

ORIENTAL
CULTURE HOLDING LTD. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Note 6 - Inventory

In November 2024, WFOE purchased $1,231,335liquor
for future sales. As of December 31, 2024, inventory consists of the following:

                       December 31,  
 ─────────────────────────────────────
                               2024  
  Finished goods         $1,231,335  
  Total inventory        $1,231,335  

As of December 31, 2024, there isnoinventory
write-down.

Note 7 - Other receivables and prepaid
expenses

Other receivables consist of the following:

                                                    December 31,                     December 31,               
  Rent and other deposits                           $                    74,075      $                   9,135  
  Employee advances and others                                           81,732                         14,628  
  Prepaid VAT taxes                                                     240,713                         88,567  
  Prepaid consulting fee                                                 74,404                         21,375  
  Platform fund receivable*                                             602,320                              -  
  Total other receivables and prepaid expenses      $                 1,073,244      $                 133,705  

  Funds held in trading platform trust account entrusted with                                                                              
  Nanjing Jinwang, who was a related party as of December 31, 2023 since the Company’s then 10.7% shareholder Mr. Huajun Gao and           
  Mr. Aimin Kong owned and controlled Nanjing Jinwang.