Company: APXIF
Filing Date: 2025-07-18
Form Type: F-4/A
Source: 0001213900-25-065703
Chunk: 669

Company: APx Acquisition Corp. I
Filing Date: 2025-07-18
Form: F-4/A
Chunk 669
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 Group’s ability to continue as a going concern. The accompanying combined financial statements do not include any adjustments that might result from the outcome of this uncertainty. Currently, the Group lacks sufficient financial resources to meet its obligations, distribute dividends to its shareholders, or fully implement its business plan. Without securing additional capital, the Group will not be able to sustain its operations. Management has plans to address the Group’s financial situation as follows: In the near term, management plans to focus on raising the capital necessary to fully execute the Group’s business plan. Management believes that certain shareholders and/or investors will continue to provide the funding required to meet the Group’s financial obligations. However, there is no assurance that these investors and shareholders will continue to provide such capital or that Group’s future operations will generate profitability. The uncertainty surrounding the ability to secure additional funding and the potential for continued operational losses contribute to substantial doubt about the Group’s ability to continue as a going concern. Also see Note 1 about the restructuring of intercompany debt with Heritas Ltd. as an element of the BCA. The accompanying combined financial statements do not include any adjustments that may be required to address the potential impacts on the recoverability and classification of assets or the amounts and classifications liabilities, should the Group be unable to continue as a going concern. F-127 Notes to Combined Financial Statements (Amounts in US Dollars, except otherwise indicated) 1.The Group’s business, reorganization and general information (cont.) Argentine currency status and macroeconomic outlook Heritas S.A.U. operates in Argentina. The Argentine economy has been declared hyperinflationary as of July 1, 2018. For the years ended June 30, 2024, and 2023, Argentina’s annual inflation rate was 271.53% and 115.58%, respectively. The Group uses Argentina’s official exchange rate to account for its operations and transactions in Argentina. As of June 30, 2024, and 2023, the official exchange rate was ARS912.00 and ARS256.70, respectively, against the US Dollar. For the years ended June 30, 2024 and 2023, Argentina’s official exchange rate against the US Dollar increased 255% and 105% respectively. 2.Summary of significant accounting policies and basis of preparation 2.1.Basis of preparation (a)Statement of compliance These combined financial statements have been prepared in accordance with IFRS Accounting Standards (IFRS) as issued by the International Accounting Standards Board