Company: SIMA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026255
Chunk: 1153

Company: SIM Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 10
Chunk 1153
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 as evaluating
the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.

We have served as the Company’s auditor since
2024.

/s/ WithumSmith+Brown, PC

New York, New York

March 31, 2025

PCAOB ID Number 100

F-2

SIM ACQUISITION CORP. I

BALANCE SHEET

    12/31/2024 

    ASSETS 

    Current Assets 

    Cash 
    $697,085 
  
    Prepaid Expenses 
     127,200 
  
    Total Current Assets 
     824,285 
  
    Long-Term Prepaid Expense 
     180,000 
  
    Cash and Marketable Securities Held in Trust Account 
     235,322,812 
  
    Total Assets 
    $236,327,097 
  
    LIABILITIES AND SHAREHOLDERS’ DEFICIT 

    Current liabilities 

    Accounts payable and accrued expenses 
    $32,609 
  
    Total Current Liabilities 
     32,609 

    Long term liabilities 

    Deferred Underwriting Payable 
     10,950,000 
  
    Total Long Term Liabilities 
     10,950,000 
  
    Total Liabilities 
     10,982,609 

    COMMITMENTS 

    Class A ordinary shares subject to possible redemption, 23,000,000 shares at redemption value of $10.11 per share 
     235,222,812 

    Shareholders’ Deficit 

    Preference shares, $.0001 par value, 5,000,000 shares authorized; none issued or outstanding 
     - 
  
    Class A ordinary shares, $.0001 par value, 500,000,000 shares authorized; none issued or outstanding (Excluding 23,000,000 Class A Ordinary shares to possible redemption) 
     - 
  
    Class B ordinary shares, $.0001 par value, 50,000,000 shares authorized; 7,666,667 shares issued and outstanding 
     767 
  
    Accumulated Deficit 
     (9,879,091)
  
    Total Shareholders’ Deficit 
     (9,878,324)
  
    TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT 
    $236,327,097 

The accompanying