Company: KNRX
Filing Date: 2025-01-15
Form Type: F-1/A
Source: 0001493152-25-002249
Chunk: 275

Company: KNOREX LTD.
Filing Date: 2025-01-15
Form: F-1/A
Chunk 275
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|                                                   |     | US$ |              |   |     | US$ |             |   |
| Deferred Tax Assets                               |     |     |              |   |     |     |             |   |
| Net operating loss carryforwards – U.S.           |     | $   |    5,258,359 |   |     | $   |   4,157,497 |   |
| Net operating loss carryforwards – Singapore      |     |     |    3,493,978 |   |     |     |   2,974,022 |   |
| Net operating loss carryforwards – Other counties |     |     |      718,722 |   |     |     |     648,332 |   |
| Less: valuation allowance                         |     |     |   (9,471,059 | ) |     |     |  (7,779,851 | ) |
| Deferred tax assets, net                          |     | $   |            - |   |     | $   |           - |   |

As of December 31, 2023 and 2022, the Company had net operating losses carry forward of approximately US$18.8 million and US$14.9 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$5.3 million and US$4.2 million related to U.S. subsidiary as of December 31, 2023 and 2022 respectively.

As of December 31, 2023 and 2022, the Company and its Singapore subsidiary had net operating losses carry forward of approximately US$20.6 million and US$17.5 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$3.5 million and US$3.0 million