Company: KNRX
Filing Date: 2025-08-21
Form Type: F-1/A
Source: 0001641172-25-025066
Chunk: 193

Company: KNOREX LTD.
Filing Date: 2025-08-21
Form: F-1/A
Chunk 193
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 in any notice of a shareholders’ meeting received by the depositary from us.

| 103 |

<div align='center'>KNOREX LTD.

INDEX TO CONSOLIDATED FINANCIAL STATEMENTS</div>

| Report                                                                                                
 of Independent Registered Public Accounting Firm                                                      
 Consolidated                                                                                          
 Balance Sheets as of December 31, 2024 and 2023                                                       
 Consolidated                                                                                          
 Statements of Operations and Comprehensive Loss for the Years Ended December 31, 2024 and 2023        |     | Page 
 F-2  
 F-3  
 F-4  |
|:------------------------------------------------------------------------------------------------------|:----|:-----|
| Consolidated                                                                                          
 Statements of Change in Shareholders’ Equity (Deficit) for the Years Ended December 31, 2024 and 2023 |     | F-5  |
| Consolidated                                                                                          
 Statements of Cash Flows for the Years Ended December 31, 2024 and 2023                               |     | F-6  |
| Notes                                                                                                 
 to Consolidated Financial Statements                                                                  |     | F-7  |

| F-1 |

<div align='center'>Report of Independent Registered Public Accounting Firm</div>

Board of Directors and Shareholders

Knorex Ltd.

Opinion on the Financial Statements

We have audited the accompanying consolidated balance sheet of Knorex Ltd. as of December 31, 2024 and 2023, and the related consolidated statements of operations and comprehensive loss, consolidated statements of change in shareholders’ equity(deficit), and consolidated statements of cash flows for the years ended December 31, 2024 and 2023, and the related notes to the financial statements (collectively referred to as the “consolidated financial statements”). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of Knorex Ltd. as of December 31, 2024 and 2023, and the results of its operations and its cash flows for the year ended December 31, 2024 and 2023, in conformity with accounting principles generally accepted in the United States of America.

Going Concern

The accompanying financial statements have been prepared assuming that the entity will continue as a going concern. As discussed in Note 2 to the consolidated financial statements, the entity has suffered recurring losses from operations and has a net capital deficiency that raise substantial doubt about its ability to continue as a going concern. Management’s plans in regard to these matters are also described in Note