Company: APXIF
Filing Date: 2025-06-13
Form Type: F-4/A
Source: 0001213900-25-054324
Chunk: 669

Company: APx Acquisition Corp. I
Filing Date: 2025-06-13
Form: F-4/A
Chunk 669
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 (“the functional currency”). The Company’s functional currency is the Argentine Peso. These combined financial statements are presented in US Dollars. Unless otherwise stated, references to ‘ARS’ are to Argentine Pesos and references to ‘US$’ or ‘US Dollars’ are to US Dollars. The Group has applied IAS 29 “Financial Reporting in Hyperinflationary Economies”, which mandates that when the functional currency of an entity is subject to hyperinflation, the financial statements must be adjusted to reflect the value of money at the end of the reporting period. This is regardless of whether they are based on the historical cost method or the current cost method. For such purpose, the inflation F-128 Notes to Combined Financial Statements (Amounts in US Dollars, except otherwise indicated) 2.Summary of significant accounting policies and basis of preparation (cont.) produced from the date of acquisition or from the revaluation date, as applicable, must be computed in non -monetaryitems. This requirement also includes the comparative information of the financial statements. In order to conclude on whether an economy is categorized as hyper -inflationaryin the terms of IAS 29, the standard details a series of factors to be considered, including the existence of an accumulated inflation rate in two years that is approximate or exceeds 100%. In accordance with IAS29, Argentina was considered a hyperinflationary economy as from July 1, 2018. The restatement mechanism of IAS 29 establishes that monetary assets and liabilities are not restated because they are already expressed in a current unit of measurement at the end of the reporting period. Assets and liabilities subject to adjustments based on specific agreements, are adjusted according to those agreements. Non -monetaryitems measured at their current values at the end of the reporting period, such as the net realizable value or others, do not need to be restated. The remaining non -monetaryassets and liabilities are restated according to a general price index. The loss or gain for the net monetary position is included in the “Inflation Adjustment” line item in the statement of operations. The inflation adjustment to the initial balances was calculated by means of a conversion factor derived from the Argentine price indexes published by INDEC, the National Institute of Statistics. (d)Reporting cash flows The Group reports cash flows from operating activities using the indirect method. Interest paid is presented within financing activities. Interest received is presented within investing activities. (e)Use of estimates and judgements The preparation of these combined financial statements requires management