Company: KNRX
Filing Date: 2025-09-30
Form Type: 424B4
Source: 0001493152-25-016175
Chunk: 216

Company: KNOREX LTD.
Filing Date: 2025-09-30
Form: 424B4
Chunk 216
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 on revenue recognition for contracts with customers. The amendments in this update require that an entity (acquirer) recognizes and measures contract assets and contract liabilities acquired in a business combination in accordance with Topic 606. ASU 2021-08 is effective for the fiscal years beginning after December 15, 2022 including interim periods within those fiscal years. Early adoption was permitted, including adoption in an interim period. The adoption of this standard on January 1, 2023 did not have a material impact on its consolidated financial statements.

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The amendments were designed to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. In addition, the amendments enhance interim disclosure requirements, clarify circumstances in which an entity can disclose multiple segment measures of profit or loss, provide new segment disclosure requirements for entities with a single reportable segment, and contain other disclosure requirements. The purpose of the amendments is to enable investors to better understand an entity’s overall performance and assess potential future cash flows. The ASU applies to all public entities that are required to report segment information in accordance with ASC 280. The Company adopted this standard for the year ended December 31, 2024. See Note 16 – Segment Information.

Except as mentioned above, the Company does not believe other recently issued but not yet effective accounting standards, if currently adopted, would have a material effect on the Company’s consolidated balance sheets, statements of operations and comprehensive loss and statements of cash flows.

| F-18 |

Note 3 – Accounts receivable, net

Accounts receivable, net consist of the following:

|                                |     |     |          As 
 of December 
    31, 2024 |   |     |     |          As 
 of December 
    31, 2023 |   |
|:-------------------------------|:----|:----|------------:|:--|:----|:----|------------:|:--|
|                                |     | US$ |             |   |     | US$ |             |   |
| Accounts receivable            |     | $   |   1,903,277 |   |     | $   |   1,664,504 |   |
| Allowance for credit losses    |     | $   |     (22,336 | ) |     | $   |     (