Company: LICN
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036244
Chunk: 122

Company: Lichen International Ltd
Filing Date: 2025-04-29
Form: 20-F
Item: Item 19
Chunk 122
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, the amendments are effective for annual periods beginning
after December 15, 2025. Early adoption is permitted for annual financial statements that have not yet been issued or made available for
issuance. The amendments in this update should be applied on a prospective basis. Retrospective application is permitted. The Company
does not plan to early adopt ASU 2023-09 and is evaluating the impact of adoption of ASU 2023-09 on the consolidated financial statements.

In March 2024, the FASB issued ASU 2024-01, “ Compensation-Stock
Compensation (Topic 718): Scope Application of Profits Interest and similar Awards”. For public business entities, the amendments
in this Update are effective for annual periods beginning after December 15.2024, and interim periods within those annual periods. For
all other entities, the amendments are effective for annual periods beginning after December 15,2025, and interim periods within those
annual periods. Early adoption is permitted for both interim and annual financial statements that have not yet been issued or made available
for issuance. If an entity adopts the amendments in an interim period, it should adopt them as of the beginning of the annual period that
includes that interim period.

In October 2023, the FASB issued ASU 2023-06,
Disclosure Improvements - Codification Amendments in Response to SEC’s Disclosure Update and Simplification Initiative which
amend the disclosure or presentation requirements of codification subtopic 230-10 Statement of Cash Flows - Overall, 250-10 Accounting
Changes and Error Corrections - Overall, 260-10 Earnings Per Share - Overall, 270-10 Interim Reporting - Overall, 440-10
Commitments - Overall, 470-10 Debt - Overall, 505-10 Equity - Overall, 815-10 Derivatives and Hedging - Overall,
860-30 Transfers and Servicing - Secured Borrowing and Collateral, 932-235 Extractive Activities - Oil and Gas - Notes
to Financial Statements, 946-20 Financial Services - Investment Companies - Investment Company Activities, and 974-10 Real
Estate - Real Estate Investment Trusts - Overall. The amendments represent changes to clarify or improve disclosure and presentation
requirements of the above subtopics. Many of the amendments allow users to more easily compare entities subject to the SEC’s existing
disclosures with those entities that were not previously subject to the SEC’s