Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 848

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 3
Chunk 848
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 2024, $914,615 has been drawn
under the Bioceres Notes.

Based on the availability under the Amended and
Restated Note and the Bioceres Notes, management believes that the Company will have sufficient working capital and borrowing capacity
to meet its needs through the earlier of the consummation of a business combination or one year from this filing. Over this time period,
the Company will be using these funds for paying existing accounts payable and structuring, negotiating and consummating the Proposed
Business Combination.

In connection with the
Company’s assessment of going concern considerations in accordance with Financial Accounting Standard Board’s Account Standards
Update (“ASU”) 2014-15, ”Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going
Concern.” The Company has until December 9, 2025 (48 months from the closing of the IPO) if we further extend the period by
up to twelve additional one-month periods, to consummate a Business Combination. It is uncertain that the Company will be able
to consummate a Business Combination by this time. If a Business Combination is not consummated by this date, there will be a mandatory
liquidation and subsequent dissolution of the Company. Management has determined that the mandatory liquidation, should a Business Combination
not occur, and potential subsequent dissolution, as well as insufficient cash flows, raises substantial doubt about the Company’s
ability to continue as a going concern. The financial statements do not include any adjustment that might result from the outcome of this
uncertainty.

Risks and Uncertainties 

Management continues to evaluate the impact of
future global pandemics and geopolitical events and has concluded that while it is reasonably possible that such events could have a
negative effect on the Company’s financial position, results of its operations, and/or search for a target company, the specific
impact is not readily determinable as of the date of these financial statements. The financial statements do not include any adjustments
that might result from the outcome of this uncertainty.

Off-Balance Sheet Arrangements 

As of December 31, 2024 and December 31, 2023,
we did not have any off-balance sheet arrangements as defined in Item 303(a)(4)(ii) of Regulation S-K and did not have any commitments
or contractual obligations.

Contractual Obligations 

Administrative Services Agreement 

Commencing on the date that our securities are
first listed on Nasdaq through the earlier of