Company: SIMA
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-043361
Chunk: 10

Company: SIM Acquisition Corp. I
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 10
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 for the three months ended March 31, 2025 are not
necessarily indicative of future performance.

7

Emerging Growth Company

The Company is an “emerging
growth company,” as defined in Section 2(a) of the Securities Act of 1933, as amended (the “Securities Act”), as
modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions
from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but
not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act,
reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the
requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments
not previously approved.

Further, Section 102(b)(1)
of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until
private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class
of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS
Act provides that an emerging growth company can elect to opt out of the extended transition period and comply with the requirements that
apply to non-emerging growth companies but any such an election to opt out is irrevocable. The Company has elected not to opt out of such
extended transition period, which means that when a standard is issued or revised and it has different application dates for public or
private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt
the new or revised standard. This may make the comparison of the Company’s financial statements with those of another public company
that is neither an emerging growth company nor an emerging growth company that has opted out of using the extended transition period difficult
or impossible because of the potential differences in accounting standards used.

Cash

 The Company considers all
short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company has $511,697
in cash and did not have any cash equivalents as of March 31, 2025. As of December 31, 2024, the Company had $697,