Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 1206

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 6
Chunk 1206
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 purpose of completing a merger, capital stock exchange, asset
acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities on
or before December 9, 2025. The Company entered into a definitive merger/business combination agreement with a business combination
target on March 25, 2024; however, the completion of this transaction is subject to the approval of the Company’s shareholders
among other conditions. There is no assurance that the Company will obtain the necessary approvals, satisfy the required closing
conditions, raise the additional capital it needs to fund its operations, and complete the transaction prior to December 9, 2025, if
at all. The Company also has no approved plan in place to extend the business combination deadline and fund operations for any
period of time after December 9, 2025, in the event that it is unable to complete a business combination by that date. These
matters raise substantial doubt about the Company’s ability to continue as a going concern. Management’s plans with
regard to these matters are also described in Note 1. The financial statements do not include any adjustments that may be necessary
should the Company be unable to continue as a going concern. 

Basis for Opinion 

These financial statements are the responsibility of the Company’s
management. Our responsibility is to express an opinion on the Company’s financial statements based on our audits. We are a public
accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required
to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations
of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB.
Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are
free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an
audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal
control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal
control over financial reporting. Accordingly, we express no such opinion. 

Our audits included performing procedures to assess the risks of material
misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to