Company: APXIF
Filing Date: 2025-06-11
Form Type: 10-Q
Source: 0001213900-25-053185
Chunk: 20

Company: APx Acquisition Corp. I
Filing Date: 2025-06-11
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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 possibility of extreme volatility and disruptions in the financial markets, diminished liquidity and
credit availability, declines in consumer confidence, declines in economic growth, increases in inflation rates and uncertainty about
economic and political stability. Such global consequences may materially and adversely affect the Company’s ability to consummate
an initial Business Combination, or the operations of a target business with which the Company ultimately consummates an initial Business
Combination. In addition, the Company’s ability to consummate an initial Business Combination may be dependent on the ability to
raise equity and debt financing which may be impacted by these events, including as a result of increased market volatility, or decreased
market liquidity in third-party financing being unavailable on terms acceptable to the Company or at all. The impact of this action and
related sanctions on the global economy and the specific impact on the Company’s financial position, results of operations and/or
ability to consummate an initial Business Combination are not yet determinable. The financial statements do not include any adjustments
that might result from the outcome of these uncertainties.

 13

Going Concern Consideration

At
March 31, 2025 and December 31, 2024, the Company had $72 and $120 in operating cash and a working capital deficit of $5,168,585 and $4,765,415,
respectively, excluding Accrued interest receivable as it is not available for working capital purposes. The Company has incurred and
expects to continue to incur significant costs in pursuit of its financing and acquisition plans.

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