Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 2513

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 2513
---
  
     1,625,000 
  
    Repayment of promissory note 
        
     (1,625,000)
  
    Payments for redemption for class A common share 
     (60,856,059) 
     (121,866,147)
  
    Net cash used in financing activities 
     (58,730,584) 
     (121,345,547)
  
    Net Change in Cash 
     (8,047) 
     (405,039)
  
    Cash - Beginning of period 
     8,167  
     413,206 
  
    Cash - End of period 
    $120  
    $8,167 
  
    Non-cash investing and financing activities: 

    Conversion of class B to class A shares 
    $-  
    $431 
  
    Gain on settlement of related party payables 
    $-  
    $704,464 
  
    Remeasurement of Class A shares subject to possible redemption 
    $(4,436,272) 
    $6,024,612 

The accompanying notes are an integral part
of the financial statement.

F-6

APX ACQUISITION CORP. I 

NOTES TO FINANCIAL STATEMENTS 

NOTE 1. DESCRIPTION OF ORGANIZATION, AND BUSINESS OPERATIONS AND
GOING CONCERN 

APx Acquisition Corp. I (the “Company”)
is a blank check company incorporated in the Cayman Islands on May 13, 2021. The Company was formed for the purpose of effectuating a
merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or other similar business combination with one or
more businesses (the “Business Combination”). The Company is an early stage and emerging growth company and, as such, the
Company is subject to all of the risks associated with early stage and emerging growth companies. 

As of December 31, 2024, the Company had not
yet commenced any operations. All activity for the period May 13, 2021 (inception) through December 31, 2024, relates to the Company’s
formation and the initial public offering (the “Initial Public Offering”) which is described below. The Company will not
generate any operating revenues until after the completion of its initial Business Combination, at the earliest. The Company will generate
non-operating income in the form