Company: APXIF
Filing Date: 2025-01-22
Form Type: F-4
Source: 0001213900-25-005463
Chunk: 427

Company: APx Acquisition Corp. I
Filing Date: 2025-01-22
Form: F-4
Chunk 427
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 Combination Agreement and related agreements, see “ The Business Combination,” “ The Business Combination Agreement” and “ Certain Agreements Related to the Business Combination.” Results of Operations Our entire activity from inception up to September 30, 2024 was related to our formation and the IPO. Since the IPO, our activity has been limited to the evaluation of business combination candidates, and we will not be generating any operating revenues until the closing and completion of our initial business combination. We expect to generate small amounts of non -operatingincome in the form of interest income on cash and investments. We expect to incur increased expenses as a result of being a public company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses. We expect our expenses to increase substantially after this period. For the nine months ended September 30, 2024, we had a net income of $250,870 which was comprised of operating costs of $2,227,219. In this period, we incurred no unrealized loss related to the change in fair value of warrants, interest income of $2,478,916 from investments in our Trust Account and interest expense of $827. For the three months ended September 30, 2024, we had a net income of $2,122,120 which was comprised of operating costs of $738,095. In this period, we incurred unrealized gain of $2,022,883 related to the change in fair value of warrants, interest income of $838,159 from investments in our Trust Account and interest expense of $827. For the nine months ended September 30, 2023, we had a net income of $3,536,796, which was comprised of operating costs of $1,550,407, one -timeadvisory fee income of $1,625,000, gain on settlement of debt of $117,373, interest income of $2,889,122 from investments in our Trust Account, gain on settlement of trade payables of $878,886 (arising from a reduction of accrued expenses due to a legal advisor) offset by interest expense of $82,345 and $340,833 of unrealized loss on fair value changes of warrants. The operating expenses were primarily due to fees to professionals such as the auditors, legal counsel and consultants, and insurance expenses. For the three months ended September 30, 2023, we had a net income of $3,595,650, which was comprised of