Company: KNRX
Filing Date: 2025-08-21
Form Type: F-1/A
Source: 0001641172-25-025066
Chunk: 219

Company: KNOREX LTD.
Filing Date: 2025-08-21
Form: F-1/A
Chunk 219
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 and does not require to be separately accounted for as a derivative. As a result, the Company classified the D-2 Notes as a debt instrument in its entirety.

In February 2025, the Company signed the Amendment to the convertible note agreements for the aforementioned nine convertible notes to extend the maturity date to be due in June 2026. The interest rate increased from 8% per annum to 12% per annum beginning in February 2025. The conversion price of the D-2 Notes also amended to be 50% (amended from 70%) of the IPO price or next round of financing.

As of December 31, 2024 and 2023, convertible notes balance amounted to US$1,900,965 and US$0, respectively. Amortization of discount on debt instruments in connection with the convertible notes for the years ended December 31, 2024 and 2023 amounted to US$28,519 and US$28,376, respectively.

Interest expenses in connection with the forementioned loans and convertible notes for the years ended December 31, 2024 and 2023 amounted to US$319,076 and US$136,437, respectively.

Note 8 – Other payables and accrued liabilities

Other payables and accrued liabilities consist of the following:

|                                                                                    |     |     |          As 
 of December 
    31, 2024 |     |     |          As 
 of December 
    31, 2023 |
|:-----------------------------------------------------------------------------------|:----|:----|------------:|:----|:----|------------:|
|                                                                                    |     | US$ |             |     | US$ |             |
| Accrued expenses                                                                   |     | $   |     233,689 |     | $   |     155,893 |
| Accrued payroll                                                                    |     |     |     425,322 |     |     |     492,560 |
| Accrued interest                                                                   |     |     |     170,925 |     |     |         345 |
| Accrued taxes payable                                                              |     |     |      21,212 |     |     |      29,892 |
| Accrued professional fees                                                          |     |     |     289,302 |     |     |     646,488 |
| Secured borrowings –                                                               
 recourse factoring liabilities (1)                                                 |     |     |     575,043 |