Company: APXIF
Filing Date: 2025-07-03
Form Type: F-4/A
Source: 0001213900-25-061545
Chunk: 421

Company: APx Acquisition Corp. I
Filing Date: 2025-07-03
Form: F-4/A
Chunk 421
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 test volumes, led to a decrease in the cost of revenues associated with genomic testing. Selling expenses Sales and marketing expenses decreased by $48,864, or 10.7%, from $451,207 in the year ended June 30, 2023, to $402,981 in the year ended June 30, 2024. This decrease was primarily attributed to a more efficient allocation of marketing expenditures, particularly within the Rewell segment. As the marketing strategy transitioned from a direct -to -consumerapproach to a business -to -businessmodel, the Company decreased its reliance on third -partyprofessional services, such as external digital marketing agencies and consultants, leading to a reduction in related costs. General and administrative expenses Administrative expenses increased by $2,312,361, or 418.9%, from $551,955 in the year ended June 30, 2023, to $2,864,316 in the year ended June 30, 2024. This significant increase was primarily driven by an increase in share -basedpayments and higher professional service fees related to transaction expenses associated with the Business Combination Agreement. Regarding the significant rise in share -basedpayments, during the reporting period ended June 30, 2024, an expense of $1,226,867 was recognized in connection with the CEO’s share -basedcompensation plan that was granted after year -end, due to the services rendered since he joined the Company. The amount is reflected in the income statement under general and administrative expenses and corresponds to an increase in the share premium within equity. As of June 30, 2023, the non -marketconditions affecting the grant were not expected to be met and therefore, the amount of equity instruments that could eventually be vested was zero and therefore, it was not recorded at the fiscal year ended June 30, 2023. The second component contributing to the increase was higher professional service fees, driven by transaction -relatedexpenses. Specifically, these costs were associated with professional services incurred in connection with the Business Combination Agreement. These transaction -relatedexpenses reflect the strategic efforts involved in advancing the Business Combination and significantly impacted the overall increase in general and administrative expenses. 217 Research and Development Expenses Research and development expenses increased by $295,341, or 73.8%, from $400,268 in the year ended June 30, 2023, to $695,609 in the year ended June 30, 2024. This increase was mainly due to the ongoing research activities