Company: KNRX
Filing Date: 2025-01-15
Form Type: F-1/A
Source: 0001493152-25-002249
Chunk: 247

Company: KNOREX LTD.
Filing Date: 2025-01-15
Form: F-1/A
Chunk 247
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 (“Adziggy US”)                  |     | ● |     | A                                                                                                                                      
 Delaware Corporation in the United States                                                                                              |     | 100%                                                           
 owned by Knorex SG                                             |
|                                     |     | ● |     | Incorporated                                                                                                                           
 on June 13, 2019                                                                                                                       |     |                                                                |
|                                     |     | ● |     | A dormant company                                                                                                                      |     |                                                                |

*Knorex SG is the trustee and is the beneficial owner of Knorex TH and Knorex AU affected through the execution of deed of trust agreement. Knorex TH and Knorex AU’s operations are immaterial to the Company’s accompanying financial statements.

| F-35 |

Note 2 – Summary of significant accounting policies

The accompanying consolidated financial
statements have been prepared assuming the Company will continue as a going concern, which contemplates, among other things, the
realization of assets and satisfaction of liabilities in the normal course of business. The Company had a working capital deficit of
approximately US$1.0 million as of December 31, 2023. This raises substantial doubt about the Company’s ability to continue as
a going concern.

To sustain its ability to support the Company’s operating activities,
the Company considered supplementing its sources of funding through the following:

| ● | Equity                                                                     
 financing through private placements or initial public offerings;          |
| ● | Debt                                                                       
 financing through issuance of convertible notes; and                       |
| ● | Other                                                                      
 available sources of financing from banks or other financial institutions. |

Management has commenced a strategy to raise debt
and equity. However, there can be no certainty that these additional financings will be available on acceptable terms or at all. If management
is unable to execute this plan, there will likely be a material adverse effect on the Company’s business. All these factors
raise substantial doubt about the ability of the Company to continue as a going concern.

The consolidated financial statements do not include
any adjustments that might be necessary if the Company is unable to continue as a going concern.

Basis of presentation

The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for information pursuant to the rules and regulations of the Securities Exchange Commission (“SEC”).

Principles of consolidation

The consolidated financial statements include the financial statements of the Company and its subsidiaries. All transactions and balances among the Company and its subsidiaries have been eliminated upon consolidation.