Company: KNRX
Filing Date: 2025-09-30
Form Type: 424B4
Source: 0001493152-25-016175
Chunk: 93

Company: KNOREX LTD.
Filing Date: 2025-09-30
Form: 424B4
Chunk 93
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 2024 was US$5.4 million, primarily reflecting net loss of US$5.9 million, an increase of US$0.4 million in accounts receivable as a result of our increased sales in 2024; an increase of US$0.2 million in other receivables as a result of increased refundable deposits from third party service providers; an increase of US$0.2 million other payables – related party as we had repaid our related party in connection with the business expansion consulting services; 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$1.0 million; and an increase of US$0.5 million in other payables and accrued liabilities as a result of increased accrued payroll and professional fees.

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.

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Investing Activities

Net cash used in investing activities was approximately US$867,000 for the year ended December 31, 2024, which was primarily attributable to the purchase of office equipment of approximately US$13,000 and capitalized software development costs of approximately US$0.9 million.

Net cash used in investing activities was approximately US$878,000 for the year ended December 31, 2023, which was primarily attributable to the purchase of office equipment of approximately US$2,000 and capitalized software development costs of approximately US$0.9 million.

Financing Activities

Net cash provided by financing activities was US$5.