Company: SIMA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026255
Chunk: 779

Company: SIM Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 7A
Chunk 779
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 be no assurance that any design will succeed in achieving its stated
goals under all potential future conditions.

Management’s Annual Report on Internal
Control over Financial Reporting

This Report does not include
a report of Management’s assessment regarding internal control over financial reporting or an attestation report of our registered
public accounting firm due to a transition period established by the rules of the SEC for newly public companies.

Changes in Internal Control over Financial
Reporting

There have been no changes
to our internal control over financial reporting during the quarterly period ended December 31, 2024 that materially affected, or are
reasonably likely to materially affect, our internal control over financial reporting.

Item
9B. Other Information.

Trading Arrangements

During the quarterly period
ended December 31, 2024, none of our directors or officers (as defined in Rule 16a-1(f) promulgated under the Exchange Act)
adopted or terminated any “Rule 10b5-1 trading arrangement” or any “non-Rule 10b5-1 trading arrangement,” as each
term is defined in Item 408(a) of Regulation S-K.

Additional Information

None.

Item
9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections.

Not applicable.

25

PART III

Item
10. Directors, Executive Officers and Corporate Governance.

Directors and Executive Officers

As of the date of this Report,
our directors and officers are as follows:

    Name
     
    Age
     
    Position 
  
    Erich Spangenberg
     
    64
     
    Chairman and Chief Executive Officer
  
    David Kutcher
     
    42
     
    Chief Financial Officer and Director
  
    Delos Marshall (“Toby”) Cosgrove, M.D.
     
    84
     
    Director
  
    Janine Grasso
     
    48
     
    Director
  
    Vincent Capone
     
    57
     
    Director

The experience of our directors
and executive officers is as follows:

Erich Spangenberg,
our Chief Executive Officer and Chairman of our Board of Directors since our inception, has served as a Chief Executive Officer and Co-Founder
of SIM since January 2023. From January 2018 to January 2023, Mr. Spangenberg was the Founder and CEO of IPwe, a global financial technology
company in the intellectual property space. In January 202