Company: KNRX
Filing Date: 2025-01-15
Form Type: F-1/A
Source: 0001493152-25-002249
Chunk: 225

Company: KNOREX LTD.
Filing Date: 2025-01-15
Form: F-1/A
Chunk 225
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PO”) price or next round of financing. If IPO does not occur on or before the maturity date, the Company shall redeem the Note plus all accrued and unpaid interest in full, where the interest shall accrue at a rate of 20% instead of 8% per annum. The Company determined the D-2 notes are within the scope of ASC 480 as the total number of shares to be issued are not known at inception until the issuance price of the next round of equity financing would take place. The Company also determined that the embedded conversions in the C-D notes meets the scope exception to be considered indexed to a reporting’s own stock based on the two-step approach in accordance with ASC 815-40-15 and does not require to be separately accounted for as a derivative. As a result, the Company classified the C-D Notes as a debt instrument in its entirety. As of June 30, 2024 and December 31, 2023, convertible notes balance amounted to US$1,636,193 and US$0, respectively.

Amortization of discount on debt instruments in connection with the forementioned loans for the six months ended June 30, 2024 and 2023 amounted to US$14,230 and US$14,135, respectively.

Interest expenses in connection with the forementioned loans and convertible notes for the six months ended June 30, 2024 and 2023 amounted to US$35,598 and US$118,139, respectively.

Note 8 – Other payables and accrued liabilities

Other payables and accrued liabilities consist of the following:

|                                                                                    |     |     | As of June 
   30, 2024 |     |     | As of December 
       31, 2023 |
|:-----------------------------------------------------------------------------------|:----|:----|-----------:|:----|:----|---------------:|
|                                                                                    |     | US$ |            |     | US$ |                |
| Accrued expenses                                                                   |     | $   |    226,356 |     | $   |        155,893 |
| Accrued payroll                                                                    |     |     |    387,080 |     |     |        492,560 |
| Accrued interest                                                                   |     |     |          - |     |     |            345 |
| Accrued taxes payable                                                              |     |     |     41,789 |     |     |         29,892 |
| Accrued