Company: KNRX
Filing Date: 2025-03-05
Form Type: F-1/A
Source: 0001493152-25-009104
Chunk: 99

Company: KNOREX LTD.
Filing Date: 2025-03-05
Form: F-1/A
Chunk 99
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; which was offset by non-cash expenses of depreciation, amortization of discount on debt instrument, amortization of capitalized software development costs, stock compensation expense, and provision of credit losses of approximately US$0.9 million.

Net cash used in
operating activities for the six months ended June 30, 2023 was US$2.8 million, primarily reflecting net loss of US$3.8 million, a
decrease of US$0.4 million in other payables and accrued liabilities as a result of decreased accrued payroll and professional fees;
a decrease of deferred revenue of US$0.2 million, which was offset by a decrease of US$0.4 million in accounts receivable due to
our timely collections; an increase of US$0.7 million in accounts payable; non-cash expenses of depreciation, amortization of
discount on debt instrument, amortization of capitalized software development costs, and provision of credit losses totaling approximately
US$0.4 million.

Net cash used in operating activities for the year ended December 31, 2023 was US$5.5 million, primarily reflecting net loss of US$8.0 million, a decrease of US$0.2 million in deferred revenue, which was offset by non-cash expenses of depreciation, amortization of discount on debt instrument, amortization of capitalized software development costs, and provision of credit losses of approximately US$0.7 million, an increase of US$1.0 million in accounts payable; an increase of US$0.6 million in other payables and accrued liabilities as a result of increased accrued payroll and professional fees, net of non-cash conversion of accrued interest of US$0.2 million into our ordinary shares; a decrease of US$0.1 million in accounts receivable due to our timely collections, a decrease of US$0.1 million in prepaid expenses and other current assets as a result of decreased security deposits, prepayments to vendors.

Net cash used in operating activities for the year ended December 31, 2022 was US$6.9 million, primarily reflecting net loss of US$6.7 million, an increase of US$1.2 million in accounts receivable as a result of our increased sales in 2022, an increase of US$0.1 million in other receivables as a result of increased sales, goods and services taxes receivables, which was offset by non-cash expenses of depreciation, amortization of discount on debt