Company: KNRX
Filing Date: 2025-09-22
Form Type: F-1/A
Source: 0001493152-25-014499
Chunk: 233

Company: KNOREX LTD.
Filing Date: 2025-09-22
Form: F-1/A
Chunk 233
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886,272 |   |     |     |   3,493,978 |   |
| Net operating loss carryforwards – Other counties |     |     |      718,791 |   |     |     |     718,722 |   |
| Less: valuation allowance                         |     |     |  (10,180,736 | ) |     |     |  (9,471,059 | ) |
| Deferred tax assets, net                          |     | $   |            - |   |     | $   |           - |   |

As of December 31, 2024 and 2023, the Company had net operating losses carry forward of approximately US$19.9 million and US$18.8 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$5.6 million and US$5.3 million related to U.S. subsidiary as of December 31, 2024 and 2023, respectively.

As of December 31, 2024 and 2023, the Company and its Singapore subsidiary had net operating losses carry forward of approximately US$22.9 million and US$20.6 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$3.9 million and US$3.5 million related the Company and its Singapore as of December 31, 2024 and 2023, respectively.

Uncertain tax positions

The Company evaluates each uncertain tax position (including the potential application of interest and penalties) based on the technical merits, and measures the unrecognized benefits associated with the tax positions. As of December 31, 2024 and 2023, the Company did not have any significant unrecognized uncertain tax positions. The Company did not incur interest and penalties tax for the years ended December 31, 2024 and 2023.

Note 14 – Concentrations