Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 1621

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 9
Chunk 1621
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 requires management to make estimates and assumptions that affect the reported amounts
of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported
amounts of revenues and expenses during the reporting period. 

Making estimates
requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition,
situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its
estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly
from those estimates. 

Operating Segments

The Company operates as one operating
segment. Operating segments are defined as components of an enterprise for which separate financial information is regularly evaluated
by the chief operating decision maker (“CODM”), which is the Chief Executive Officer and Chairman of the Board, in deciding
how to allocate resources and assess performance. The Company’s CODM evaluates the Company’s financial information and resources
and assesses the performance of these resources. The Company is not organized by market and is managed and operated as one business. A
single management team that reports to the CODM comprehensively manages the entire business. Accordingly, the Company does not accumulate
discrete financial information with respect to separate divisions and does not have separate operating or reportable segments. Since the
Company operates in one operating segment, all required financial segment information can be found in the financial statements.

Cash and Cash Equivalents

The Company
considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company
had $120 and $8,167 in cash and no cash equivalents as of December 31, 2024, and 2023, respectively. 

F-14

Investments Held in Trust
Account 

As of December
31, 2024, and 2023, the Company had $6,208,367 and $62,406,649 respectively held in the Trust Account which invests only in direct U.S.
government treasury obligations. 

Share-based Compensation 

The transfer
of the Founder Shares is in the scope of FASB ASC Topic 718, “Compensation-Stock Compensation” (“ASC 718”). Under
ASC 718, share- based compensation associated with equity-classified awards is measured at fair value upon the grant date. The Founders
Shares were granted subject to a performance condition (i