Company: KNRX
Filing Date: 2025-09-02
Form Type: F-1/A
Source: 0001493152-25-012564
Chunk: 199

Company: KNOREX LTD.
Filing Date: 2025-09-02
Form: F-1/A
Chunk 199
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 are immaterial to the Company’s accompanying financial statements.

Note 2 – Summary of significant accounting policies

Going concern

The accompanying consolidated financial statements have been prepared assuming the Company will continue as a going concern, which contemplates, among other things, the realization of assets and satisfaction of liabilities in the normal course of business. The Company had a working capital deficit of approximately US$6.0 million and accumulated deficit of approximately $49.7 as of December 31, 2024. The Company also incurred net loss of approximately $5.9 million and had operating cash outflow of approximately $5.4 million for the year December 31, 2024. These conditions raise substantial doubt about the Company’s ability to continue as a going concern.

To sustain its ability to support the Company’s operating activities, the Company considered supplementing its sources of funding through the following:

| ● | Equity                                                                     
 financing through private placements or initial public offerings;          |
| ● | Debt                                                                       
 financing through issuance of convertible notes; and                       |
| ● | Other                                                                      
 available sources of financing from banks or other financial institutions. |

Management has commenced a strategy to raise debt and equity. However, there can be no certainty that these additional financings will be available on acceptable terms or at all. If management is unable to execute this plan, there will likely be a material adverse effect on the Company’s business. All these factors raise substantial doubt about the ability of the Company to continue as a going concern.

The consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

| F-8 |

Basis of presentation

The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for information pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”).

Principles of consolidation

The consolidated financial statements include the financial statements of the Company and its subsidiaries. All transactions and balances among the Company and its subsidiaries have been eliminated upon consolidation.

A subsidiary is an entity in which the Company, directly or indirectly, controls more than one half of the voting power; or has the power to govern the financial and operating policies, to appoint or remove the majority of the members of the board of directors, or to cast a majority of votes at the meeting of directors.

Non-controlling interests

For the Company’s non-wholly owned subsidiaries, a non-controlling interest is recognized to