Company: APXIF
Filing Date: 2025-03-31
Form Type: F-4/A
Source: 0001213900-25-026339
Chunk: 404

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: F-4/A
Chunk 404
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705 | ) |
| Net cash generated from/(used in) investing activities        |     |                163 |   |     |   (529,825 | ) |
| Net cash generated from financing activities                  |     |          1,934,912 |   |     |  1,867,214 |   |
| Net increase and decrease in cash and cash equivalents        |     |             49,180 |   |     |     30,684 |   |
| Cash and cash equivalents at the beginning of the year/period |     |             48,836 |   |     |     55,514 |   |
| Effect of exchange rate changes on cash and equivalents       |     |            (56,289 | ) |     |    (37,362 | ) |
| Cash and cash equivalents at end of the period                |     |             41,727 |   |     |     48,836 |   |

212 Net cash used in operating activities Net cash used in operating activities increased by $579,190, or 44.3%, from $1,306,705 for the year ended June 30, 2023, to $1,885,895 for the year ended June 30, 2024. This increase was primarily due to changes in working capital, which included a $571,592 increase in inventories. This inventory buildup was strategically undertaken to meet expected demand and to mitigate potential supply chain risks and the possible adverse effects of economic policy changes during the period. To enhance liquidity, the Company also discounted deferred checks through financial institutions, primarily from related parties for the sale of Heritas Diagnostics services. Net cash generated from / (used in) investing activities Net cash used in investing activities changed by $529,988, from a net cash outflow of $529,825 for the year ended June 30, 2023, to a net cash inflow of $163 for the year ended June 30, 2024. This change was primarily attributable to the absence of capitalized expenditures on intangible assets, in comparison to the prior year, which included capital investments related to the development of new diagnostic tests for the Heritas Diagnostics segment and the Rewell platform. It is important to note that, while the Company continued its research and development efforts related to the Rewell platform and the advancement of clinical genetic products during the year ended June 30, 2024, these expenditures were not capitalized. As outlined in the research and