Company: APXIF
Filing Date: 2025-06-11
Form Type: 10-Q
Source: 0001213900-25-053185
Chunk: 22

Company: APx Acquisition Corp. I
Filing Date: 2025-06-11
Form: 10-Q
Item: Part I, Item 1
Chunk 22
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 statements and the reported amounts of revenues
and expenses during the reporting period.

Making estimates requires
management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation
or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate,
could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly
from those estimates.

Operating Segments

The Company operates as one operating segment. Operating segments are
defined as components of an enterprise for which separate financial information is regularly evaluated by the chief operating decision
maker (“CODM”), which is the Chief Executive Officer and Chairman of the Board, in deciding how to allocate resources and
assess performance. The Company’s CODM evaluates the Company’s financial information and resources and assesses the performance
of these resources. The Company is not organized by market and is managed and operated as one business. A single management team that
reports to the CODM comprehensively manages the entire business. Accordingly, the Company does not accumulate discrete financial information
with respect to separate divisions and does not have separate operating or reportable segments. Since the Company operates in one operating
segment, all required financial segment information can be found in the financial statements.

Cash and Cash Equivalents

The Company considers
all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company had $72
and $120 in cash and no cash equivalents as of March 31, 2025 and December 31, 2024, respectively.

Investment Held in Trust Account

As of March 31, 2025
and December 31, 2024, the Company had $6,311,873 and $6,208,367, respectively, held in the Trust Account which invests only in direct
U.S. government treasury obligations.

Share-based Compensation

The transfer of the Founder
Shares is in the scope of FASB ASC Topic 718, “Compensation-Stock Compensation” (“ASC 718”). Under ASC 718, share-
based compensation associated with equity-classified awards is measured at fair value upon the grant date. The Founders Shares were granted
subject to a performance condition (i.e., the occurrence of a Business Combination). Share-based compensation would be recognized at the
date a Business Combination is considered probable (i.e., upon occurrence of a Business Combination) in an amount equal to