Easy solution. Just stick with ur Lite-C free, then compile as usual (which will leave ur source code unprotected), then download 1 of these free tools:

1. 3DGS packer (personaly recommended)
2. NACASI (mostly recommended by the forumer and 3DGameStudio website)
3. GSTbuilder with GSTPacker plugin (somehow I manage to get it works only once)
4. When you have money, consider using MoleBox.

What these tools do?

They wrap the whole project (including dll, texture, source code, etc) into a single big .exe. So you can distribute ur project. You may find plenty of similar tools if you Google "free resource packer" but many of them can simpy be extracted using WinRAR or WinZIP (i mean no encryption).

Important note, some antivirus will detect compiled project by NACASI as trojan but it is not. Thats why I put NACASI as my 2nd recommendation.