Company: KNRX
Filing Date: 2025-03-05
Form Type: F-1/A
Source: 0001493152-25-009104
Chunk: 236

Company: KNOREX LTD.
Filing Date: 2025-03-05
Form: F-1/A
Chunk 236
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 we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

/s/ Kreit & Chiu CPA LLP

We have served as Knorex Ltd.’s auditor since 2022.

Los Angeles, California

June 20, 2024 except for Notes 1, 11, and 12 for which the date is September 30, 2024, Note 2 for which the date is October 25, 2024, and Note 17 for which the date is January 14, 2025.

| F-30 |

<div align='center'>KNOREX LTD. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(Stated in U.S. Dollars)</div>

| ASSETS                                                                         
 CURRENT ASSETS                                                                 |     | December 31, 
 2023         |             |   |     | December 31, 
 2022         |             |   |
|:-------------------------------------------------------------------------------|:----|:-------------|------------:|:--|:----|:-------------|------------:|:--|
| Cash and cash equivalents                                                      |     | $            |   1,862,781 |   |     | $            |     511,719 |   |
| Accounts receivable, net                                                       |     |              |   1,625,121 |   |     |              |   1,821,237 |   |
| Other receivables                                                              |     |              |     183,985 |   |     |              |     220,207 |   |
| Other receivables - related parties                                            |     |              |      35,966 |   |     |              |           - |   |
| Prepaid expenses and other current assets                                      |     |              |     300,128 |   |     |              |     434,942 |