Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 583

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 583
---
 the effect of the warrants issued in connection with the IPO since the exercise of the warrants
are contingent upon the occurrence of future events and the inclusion of such warrants would be anti-dilutive. 

On October
2, 2023, in accordance with the provision of the Articles, each of the APx Sponsor and the Templar Sponsor exercised its rights to convert
an aggregate of 4,312,500 Class B ordinary shares into an equal number of Class A ordinary shares, on a one-for-one basis (the “Class
B Conversion”). As a result of the Class B Conversion, no Class B ordinary shares remain outstanding as of December 31, 2023 and
December 31, 2024. 

The following
table reflects the calculation of basic and diluted net income per ordinary share (in dollars, except share amounts) for the years ended
December 31, 2024 and 2023: 

    For the Year Ended December 31, 2024  
    For the Year Ended December 31, 2023 

    Class A Ordinary Shares, Redeemable  
    Class A and Class B Ordinary Shares, Non-Redeemable  
    Class A Ordinary Shares, Redeemable  
    Class A and B Ordinary Shares, Non-Redeemable 
  
    Basic and diluted net income per ordinary share Numerator: 

    Allocation of net (loss) income 
    $(65,212) 
    $(53,845) 
    $2,767,853  
    $1,488,542 
  
    Denominator Basic and diluted weighted average shares outstanding 
     5,222,899  
     4,312,500  
     8,018,829  
     4,312,500 
  
    Basic and diluted net (loss) income per ordinary shares 
    $(0.01) 
    $(0.01) 
    $0.35  
    $0.35 

F-15

Income Taxes 

The Company
complies with the accounting and reporting requirements of ASC Topic 740, “Income Taxes,” which requires an asset and liability
approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences
between the financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based
on enacted tax laws and rates applicable to the periods in which the differences are expected