Company: APXIF
Filing Date: 2025-03-31
Form Type: F-4/A
Source: 0001213900-25-026339
Chunk: 569

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: F-4/A
Chunk 569
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 additional funding and the potential for continued operational losses contribute to substantial doubt about the Group’s ability to continue as a going concern. Also see Note 1 about the restructuring of intercompany debt with Heritas Ltd. as an element of the BCA. The accompanying combined financial statements do not include any adjustments that may be required to address the potential impacts on the recoverability and classification of assets or the amounts and classifications liabilities, should the Group be unable to continue as a going concern. F-70 Notes to Combined Financial Statements (Amounts in US Dollars, except otherwise indicated) 1.The Group’s business, reorganization and general information (cont.) Argentine currency status and macroeconomic outlook Heritas S.A.U. operates in Argentina. The Argentine economy has been declared hyperinflationary as of July 1, 2018. For the years ended June 30, 2024, and 2023, Argentina’s annual inflation rate was 271.53% and 115.58%, respectively. The Group uses Argentina’s official exchange rate to account for its operations and transactions in Argentina. As of June 30, 2024, and 2023, the official exchange rate was ARS912.00 and ARS256.70, respectively, against the US Dollar. For the years ended June 30, 2024 and 2023, Argentina’s official exchange rate against the US Dollar increased 255% and 105% respectively. 2.Summary of significant accounting policies and basis of preparation 2.1.Basis of preparation (a)Statement of compliance These combined financial statements have been prepared in accordance with IFRS Accounting Standards (IFRS) as issued by the International Accounting Standards Board (IASB) and interpretations issued by the IFRS Interpretations Committee (IFRIC). The Group’s financial year -endis June 30. These combined financial statements were authorized by the Board of Directors of the Company on January 22, 2025. (b)Basis of measurement These combined financial statements have been prepared on the historical cost basis, except for items that are required to be accounted for at fair value. The significant accounting policies set out in Note 2 have been consistently applied in preparing these combined financial statements to all the periods presented, unless otherwise stated. Due to the activities of the Group, costs and expenses presented in the statement of operations are classified according to their function. The statement of financial position has been prepared based on the nature of the transactions, distinguishing: (a) current assets