Company: APXIF
Filing Date: 2025-06-11
Form Type: 10-Q
Source: 0001213900-25-053185
Chunk: 61

Company: APx Acquisition Corp. I
Filing Date: 2025-06-11
Form: 10-Q
Item: Part I, Item 1
Chunk 61
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 redeemable Class A
ordinary shares is excluded from earnings per share as the redemption value approximates fair value.

 40

Off-Balance Sheet Arrangements

As of March 31, 2025
we did not have any off-balance sheet arrangements as defined in Item 303(a)(4)(ii) of Regulation S-K and did not have any commitments
or contractual obligations.

Recent Accounting Pronouncements

In December 2023, the
FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (ASU 2023-09). ASU 2023-09 is intended
to enhance the decision usefulness of income tax disclosures and requires the disclosure of various disaggregated information, including
an entity’s effective tax rate reconciliation as well as additional information on taxes paid. This ASU is effective on a prospective
basis for annual periods beginning after December 15, 2024, with early adoption allowed. The Company is currently assessing the impact,
if any, ASU 2023-09 would have on its disclosures.

In
November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. ASU 2023-07,
which is applicable to entities with a single reportable segment, will primarily require enhanced disclosures about significant segment
expenses and enhanced disclosures in interim periods. The guidance in ASU 2023-07 will be applied retrospectively and is effective for
annual reporting periods in fiscal years beginning after December 15, 2023 and interim reporting periods in fiscal years beginning after
December 31, 2024, with early adoption permitted. The Company adopted this guidance as of January 1, 2024.  The adoption resulted
in disclosure changes only.

Management does not believe
that any recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the
Company’s financial statements.

JOBS Act

The JOBS Act contains
provisions that, among other things, relax certain reporting requirements for qualifying public companies. We will qualify as an “emerging
growth company” and under the JOBS Act will be allowed to comply with new or revised accounting pronouncements based on the effective
date for private (not publicly traded) companies. We are electing to delay the adoption of new or revised accounting standards, and as