Company: KNRX
Filing Date: 2025-09-22
Form Type: F-1/A
Source: 0001493152-25-014499
Chunk: 92

Company: KNOREX LTD.
Filing Date: 2025-09-22
Form: F-1/A
Chunk 92
---
 |     |      |  7,848,654 |   |
| Effect                                         
 of exchange rate changes                       |     |                              |     56,539 |   |     |      |   (111,119 | ) |
| Net                                            
 change in cash and cash equivalents            |     |                              | (1,038,053 | ) |     |      |  1,351,062 |   |
| Cash                                           
 and cash equivalents, at the beginning of year |     |                              |  1,862,781 |   |     |      |    511,719 |   |
| Cash                                           
 and cash equivalents, at the end of year       |     |                              |    824,728 |   |     |      |  1,862,781 |   |

Operating Activities

Net cash used in operating activities for the year ended December 31, 2024 was US$5.4 million, primarily reflecting net loss of US$5.9 million, an increase of US$0.4 million in accounts receivable as a result of our increased sales in 2024; an increase of US$0.2 million in other receivables as a result of increased refundable deposits from third party service providers; an increase of US$0.2 million other payables – related party as we had repaid our related party in connection with the business expansion consulting services; which was offset by non-cash expenses of depreciation, amortization of discount on debt instrument, amortization of capitalized software development costs, and provision of credit losses of approximately US$1.0 million; and an increase of US$0.5 million in other payables and accrued liabilities as a result of increased accrued payroll and professional fees.

Net cash used in operating activities for the year ended December 31, 2023 was US$5.5 million, primarily reflecting net loss of US$8.0 million, a decrease of US$0.2 million in deferred revenue, which was offset by non-cash expenses of depreciation, amortization of discount on debt instrument, amortization of capitalized software development costs, and provision of credit losses of approximately US$0.7 million, an increase of US$1.0 million in accounts payable; an increase of US$0.6 million in other payables and accrued liabilities as a result of increased accrued payroll and professional fees, net of non-cash conversion of accrued interest of US$0.2 million into our ordinary