Company: APXIF
Filing Date: 2025-03-31
Form Type: F-4/A
Source: 0001213900-25-026339
Chunk: 401

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: F-4/A
Chunk 401
---
 30, 2023, to $695,609 in the year ended June 30, 2024. This increase was mainly due to the ongoing research activities related to the Rewell platform and advancements in our R&D pipeline for clinical genetic products within the Heritas Diagnostics segment. R&D expenses rose as a result of increased reliance on third -partyservices to support the continued research of the Rewell platform, including outsourced software development for platform enhancements, system integration, and functionality upgrades. These activities were essential to meeting the evolving demands of our products. However, given the nature of these activities, they did not meet the criteria for capitalization under IFRS and were therefore recorded as expenses. Additionally, personnel costs saw an increase, driven primarily by inflation -relatedsalary adjustments, with some increase in headcount to further support the R&D initiatives. These adjustments were critical for maintaining competitive compensation amidst high inflation, ensuring the retention of key personnel, and supporting the company’s long -termR&D objectives. Finance income Financial income increased by $9,026, or 39.0%, from $23,169 in the year ended June 30, 2023, to $32,195 in the year ended June 30, 2024, primarily driven by interest earned from investments in mutual funds. The Company allocated excess cash to low -riskinvestment vehicles, resulting in a higher return on investments compared to the year ended June 30, 2023. Finance costs Finance costs increased by $184,610, or 114.5%, from $161,201 in the year ended June 30, 2023, to $345,811 in the year ended June 30, 2024. The increase was primarily due to higher interest expenses arising from loans with shareholders and related parties, which accounted for the largest portion of the increase. In addition, a smaller portion of the increase was due to interest on discounted deferred checks in the capital market. The Company opted to discount deferred checks received from CIBIC at the bank to accelerate cash flow and avoid waiting for the maturity of the checks, which were originally due in 60 days. This decision allowed the Company to obtain cash earlier by paying a discount to the bank, which led to an increase in financial expenses related to interest charges in respect of these transactions. While this strategy improved liquidity and provided faster access to funds, the associated costs were reflected in the higher finance costs during the period. These increased finance costs reflect the Company’s ongoing financing arrangements with