Company: KNRX
Filing Date: 2025-01-15
Form Type: F-1/A
Source: 0001493152-25-002249
Chunk: 261

Company: KNOREX LTD.
Filing Date: 2025-01-15
Form: F-1/A
Chunk 261
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2023, and consolidated statement of changed in shareholders’ deficit, consolidated statement of cash flows for the year ended December 31, 2023.

The impact of the adjustments to the previously issued consolidated statements of operations and comprehensive loss for the year ended December 31, 2023 is detailed in the below table:

|                            |     | For the Year Ended December 31, 
 2023                            |            |     |            |          |   |     |            |            |
|:---------------------------|:----|:--------------------------------|-----------:|:----|:-----------|---------:|:--|:----|:-----------|-----------:|
|                            |     | Previously Reported             |            |     | Adjustment |          |   |     | As Revised |            |
|                            |     | US$                             |            |     | US$        |          |   |     | US$        |            |
| Platform operations        |     |                                 |  3,598,134 |     |            |        - |   |     |            |  3,598,134 |
| Sales and marketing        |     |                                 |  3,306,652 |     |            |        - |   |     |            |  3,306,652 |
| Technology and development |     |                                 |  2,300,914 |     |            | (251,470 | ) |     |            |  2,049,444 |
| General and administrative |     |                                 |  1,982,292 |     |            |  251,470 |   |     |            |  2,233,762 |
| Total operating expenses   |     |                                 | 11,187,992 |     |            |        - |   |     |            | 11,187,992 |

In accordance with Staff Accounting Bulletin (“SAB”) No. 99, Materiality, the Company evaluated the errors and determined that the impact was not material to any of its previously issued financial statements.

Recent accounting pronouncements not yet adopted

The Company considers the applicability and impact of all accounting standards updates (“ASUs”). Management periodically reviews new accounting standards that are issued. Under the Jumpstart Our Business Startups Act of 2012, as amended (the “JOBS Act”), the Company meets the definition of an emerging growth company and has elected the extended transition period for complying with new or revised accounting standards, which delays the adoption