Company: OCG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043484
Chunk: 125

Company: Oriental Culture Holding LTD
Filing Date: 2025-05-15
Form: 20-F
Item: Item 19
Chunk 125
---
 for income tax                                                   $                                               -      $         14,455            $                    -  
  Cash paid for interest                                                     $                                               -      $         -                 $                    -  
  NON-CASH TRANSACTIONS OF INVESTING AND FINANCING ACTIVITIES                                                                                                                           
  Initial recognition of right-of-use assets and lease liabilities           $                                               -      $         -                 $               45,659  
  Transaction costs included in other payables and accrued liabilities       $                                         300,000      $         -                 $                    -  
  Purchases of intangible assets included in accounts payable                $                                       1,000,000      $         -                 $                    -  

                                                                                                                 2024            2023            2022  
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Cash and cash equivalents                                                                                17,068,272      17,684,018      17,188,833  
  Restricted cash                                                                                           6,475,274      14,740,676      11,796,388  
  Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows      23,543,546      32,424,694      28,985,221  

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

F-6

ORIENTAL CULTURE HOLDING LTD. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Note 1 - Nature of business and organization

Oriental Culture Holding Ltd. (“ Oriental
Culture”) is a holding company incorporated on November 29, 2018, under the laws of the Cayman Islands. Oriental Culture Holding
Ltd., its subsidiaries and variable interest entity (“ VIE”) and its subsidiaries are hereafter referred to as the “ Company”.

Oriental Culture has no substantial operations
other than holding all of the outstanding share capital of Oriental Culture Development (“ Oriental Culture BVI”), China International
Assets and Equity of Artworks Exchange Limited (“ International Culture”) and HKDAEx Limited, which was disposed in December
2024 (see Note 4). Oriental Culture BVI is also a holding company holding all of the outstanding share capital of HK Oriental Culture
Investment Development Limited (“ Oriental Culture HK”). Oriental Culture HK is also a holding company holding all of the outstanding
equity of Nanjing Rongke Business Consulting Service Co., Ltd