Company: KNRX
Filing Date: 2025-08-21
Form Type: F-1/A
Source: 0001641172-25-025066
Chunk: 214

Company: KNOREX LTD.
Filing Date: 2025-08-21
Form: F-1/A
Chunk 214
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 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 | ) |     | $   |     (39,383 | ) |
| Total accounts receivable, net |     | $   |   1,880,941 |   |     | $   |   1,625,121 |   |

Movements of allowance for credit losses are as follows:

|                                       |     |     | For the Year Ended December 31, 
                            2024 |   |     |     | For the Year Ended December 31, 
                            2023 |   |
|:--------------------------------------|:----|:----|--------------------------------:|:--|:----|:----|--------------------------------:|:--|
|                                       |     | US$ |                                 |   |     | US$ |                                 |   |
| Beginning balance                     |     | $   |                          39,383 |   |     | $   |                               - |   |
| Provision for credit losses           |     |     |                         125,651 |   |     |     |                          75,282 |   |
| Write-off                             |     |     |                        (142,698 | ) |     |