Company: KNRX
Filing Date: 2025-03-05
Form Type: F-1/A
Source: 0001493152-25-009104
Chunk: 232

Company: KNOREX LTD.
Filing Date: 2025-03-05
Form: F-1/A
Chunk 232
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69.6% of the Company’s total revenues, which was individually more than 10% of the Company’s total revenues. For the six months ended June 30, 2023, three customers accounted for approximately 29.0%, 28.6% and 16.9% of the Company’s total revenues, which were individually more than 10% of the Company’s total revenues.

| F-27 |

(b) Major vendors

For the six months ended June 30, 2024, two vendors accounted for approximately 40.8% and 18.7% of the Company’s total purchases, which were individually more than 10% of the Company’s total purchases. For the six months ended June 30, 2023, three vendors accounted for approximately 24.1%, 20.7% and 19.4% of the Company’s total purchases, which were individually more than 10% of the Company’s total purchases.

(c) Credit risk

Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash. The Federal Deposit Insurance Corporation (FDIC) standard insurance amount is up to US$250,000 per depositor per insured bank. As of June 30, 2024 and December 31, 2023, the Company had cash balance of approximately US$0.6 million and US$0.5 million, was maintained at banks in the United States, of approximately US$135,000 and US$38,000 was subject to credit risk, respectively. While management believes that these financial institutions are of high credit quality, it also continually monitors their credit worthiness.

The Singapore Deposit Insurance Corporation Limited (SDIC) insures deposits in a Deposit Insurance (DI) Scheme member bank or finance company up to approximately US$56,788 (S$75,000) per account. This was raised to US$75,717 (S$100,000) with effect from 1 April 2024. As of June 30, 2024 and December 31, 2023, the Company had cash balance of approximately US$31,000 and US$1.3 million was maintained at DI Scheme banks in Singapore, of approximately US$0 and US$1.1 million was subject to credit risk, respectively.

The Company’s cash balance in other countries (Malaysia, Thailand, Vietnam, Australia, India, and China) are insignificant to its operations as of June 30, 202