Company: KNRX
Filing Date: 2025-01-15
Form Type: F-1/A
Source: 0001493152-25-002249
Chunk: 236

Company: KNOREX LTD.
Filing Date: 2025-01-15
Form: F-1/A
Chunk 236
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 |     |                |   |
| Net operating loss carryforwards – U.S.           |     | $   |            5,417,327 |   |     | $   |      5,258,359 |   |
| Net operating loss carryforwards – Singapore      |     |     |            3,812,737 |   |     |     |      3,493,978 |   |
| Net operating loss carryforwards – Other counties |     |     |              729,087 |   |     |     |        718,722 |   |
| Less: valuation allowance                         |     |     |           (9,959,151 | ) |     |     |     (9,471,059 | ) |
| Deferred tax assets, net                          |     | $   |                    - |   |     | $   |              - |   |

As of June 30, 2024 and December 31, 2023, the Company had net operating losses carry forward of approximately US$19.4 million and US$18.8 million, respectively, from the Company’s U.S. subsidiaries. The net operating losses can be carried forward indefinitely. Due to the Company’s U.S. subsidiaries have been operating at losses, the Company is uncertain when these net operating losses can be utilized. As a result, the Company provided a 100% allowance on deferred tax assets on net operating losses of approximately US$5.4 million and US$5.3 million related to U.S. subsidiary as of June 30, 2024 and December 31, 2023, respectively.

As of June 30, 2024 and December 31, 2023, the Company and its Singapore subsidiary had net operating losses carry forward of approximately US$22.4 million and US$20.6 million, respectively, from the Company and its Singapore subsidiary. The net operating losses from the Company and its Singapore subsidiary can be carried forward indefinitely. Due to the Company and its Singapore subsidiary have been operating at losses, the Company is uncertain when these net operating losses can be utilized. As a result, the Company provided a 100% allowance on deferred tax assets on net operating losses of approximately US$3.8 million and US$3.5 million related the Company and its Singapore as of June 30, 2024 and December 31, 2023, respectively.

Uncertain tax positions

The Company evaluates each uncertain tax position