Company: APXIF
Filing Date: 2025-01-22
Form Type: F-4
Source: 0001213900-25-005463
Chunk: 88

Company: APx Acquisition Corp. I
Filing Date: 2025-01-22
Form: F-4
Chunk 88
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 management will comprise the senior management of the Combined Company. APx does not meet the definition of a “business” pursuant to IFRS3, Business Combinations, and thus, for accounting purposes, OmnigenicsAI will account for the Business Combination as a capital reorganization. The net assets of APx will be stated at historical cost, with no goodwill or other intangible assets recorded. The Business Combination will be accounted for within the scope of IFRS 2 — Share -basedPayments (“IFRS 2”). As a result, any excess of fair value of the Company Shares issued over the fair value of APx’s identifiable net assets acquired, represent compensation for the service in respect of a stock exchange listing for the Company Shares and is expensed upon consummation.

11 For a discussion summarizing the anticipated accounting treatment of the Business Combination, please see “ Anticipated Accounting Treatment of the Business Combination.” Risk Factors In evaluating the proposals to be presented at the Special Meeting, a shareholder should carefully read this proxy statement/prospectus and especially consider the factors discussed in the section entitled “ Risk Factors.” Further, the Company has historically incurred significant losses: $4,516,095 and $1,291,932 for the fiscal years ended June 30, 2024 and 2023, respectively. The Company has also recorded accumulated deficits of $6,941,483 and $3,588,427 as of June 30, 2024 and 2023, respectively. Additionally, the Company’s recurring cash outflows from operations amounted to $1,885,895 and $1,306,705 for the years ended June 30, 2024 and 2023. The Company expects to continue to incur significant expenses and operating losses for the foreseeable future as we continue to expand research and development efforts, enhance our existing consumer products, services and business model, broaden its customer base, work with regulatory agencies, and hire additional employees to support our growth. Any future losses may have an adverse effect on our shareholders’ equity and working capital, which could negatively impact its operations and investments capacity. A failure to sustain or grow its revenue levels or obtain sufficient profitability levels may negatively affect its business, financial condition, results of operations and cash flows. In this context, the Company may need to raise additional capital in the future through share issuances, which could cause the market price of its shares to decline. These factors indicate that a material uncertainty exists that may cast significant doubt (or raise substantial doubt as contemplated