Company: APXIF
Filing Date: 2025-06-13
Form Type: F-4/A
Source: 0001213900-25-054324
Chunk: 416

Company: APx Acquisition Corp. I
Filing Date: 2025-06-13
Form: F-4/A
Chunk 416
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 the six months ended December 31, 2024. This increase was primarily attributed to higher salaries for marketing employees during the period, as well as professional services contracted for marketing activities related to Rewell. 213 General and administrative expenses General and administrative expenses increased by $438,698, or 239.6%, from $183,085 for the six months ended December 31, 2023, to $621,783 for the six months ended December 31, 2024. This significant increase was primarily driven by two factors: •a higher share -basedpayment charge amounting to approximately $174,920, allocated to the CEO and three key employees, reflecting equity incentives granted during the period. •the remaining increase of approximately $263,778 was due to the hiring of new personnel, resulting in higher compensation expenses and related administrative costs such as benefits, and other overhead. Research and Development Expenses Research and development expenses increased by $95,395, or 42.5%, from $224,298 for the six months ended December 31, 2023, to $319,693 for the six months ended December 31, 2024. This increase was mainly due to an increase in higher personnel costs due to salary adjustments and staffing changes within the R&D team. No R&D expenses during this period were allocated to the development of new products or services. Finance income Finance income decreased by $9,589, or 72.3%, from $13,265 for the six months ended December 31, 2023, to $3,676 for the six months ended December 31, 2024, primarily due to a lower allocation of excess cash to mutual fund investments. Finance costs Finance costs increased by $202,201, or 197.3%, from $102,482 for the six months ended December 31, 2023, to $304,683 for the six months ended December 31, 2024. The increase was primarily due to higher interest expenses arising from loans with shareholders and related parties, which accounted for the largest portion of the increase. In addition, a smaller portion of the increase was due to interest on discounted deferred checks with financial institutions. The Company opted to discount deferred checks received from CIBIC at the bank to accelerate cash flow and avoid waiting for the maturity of the checks, which were originally due in 60 days. This decision allowed the Company to obtain cash earlier by paying a discount to the bank, which led to an increase in financial expenses