Company: APXIF
Filing Date: 2025-06-11
Form Type: 10-Q
Source: 0001213900-25-053185
Chunk: 129

Company: APx Acquisition Corp. I
Filing Date: 2025-06-11
Form: 10-Q
Item: Part I, Item 8
Chunk 129
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ffect our
Results of Operations

Our results of operations
and our ability to complete an initial Business Combination may be adversely affected by various factors that could cause economic uncertainty
and volatility in the financial markets, many of which are beyond our control. Our business could be impacted by, among other things,
downturns in the financial markets or in economic conditions, increases in oil prices, inflation, increases in interest rates, supply
chain disruptions, declines in consumer confidence and spending, public health considerations and geopolitical instability, such as the
military conflicts in Ukraine and the Middle East. We cannot at this time predict the likelihood of one or more of the above events, their
duration or magnitude or the extent to which they may negatively impact our business and our ability to complete an initial business combination.

Liquidity and Capital Resources

As of March 31, 2025
the Company had $72 in its operating bank account, and a working capital deficit of $5,168,585, excluding accrued interest receivable
as it is not available for working capital purposes.

The Company’s liquidity
needs up to March 31, 2025 had been satisfied through a payment from the Sponsor of $25,000 (Note 5) for the Founder Shares and the remaining
net proceeds from our IPO, the Private Placement Warrants and proceeds from the Promissory Notes. In addition, in order to finance transaction
costs in connection with a Business Combination, the Company issued an unsecured promissory note (the “Working Capital Promissory
Note”) in the amount of up to $2,000,000, as defined above (Note 6). As of March 31, 2025, the Company has an outstanding principal
balance of $1,743,499.

Based on the foregoing,
management believes that the Company will not have sufficient working capital and borrowing capacity to meet its needs through the earlier
of the consummation of a Business Combination or one year from this filing. As such, the Company may need to obtain alternative liquidity
and capital resources to meet its needs, which may not be available to the Company. Over this time period, the Company will be using any
available funds for paying existing accounts payable, identifying and evaluating prospective initial Business Combination candidates,
performing due diligence on prospective target businesses, paying for travel expenditures, selecting the target business to merge with
or acquire, and structuring, negotiating and consummating the Business Combination.

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On August 26