Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 1806

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 9B
Chunk 1806
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 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.e., the occurrence of a Business Combination). Share-based compensation would
be recognized at the date a Business Combination is considered probable (i.e., upon occurrence of a Business Combination) in an amount
equal to the number of Founders Shares that ultimately vest multiplied by the grant date fair value per share (unless subsequently modified)
less the amount initially received for the purchase of the Founders Shares. As of December 31, 2024 and 2023, the Company determined that
a Business Combination is not considered probable and, therefore, no share-based compensation expense has been recognized. 

The fair
value at the grant date of the 40,000 Founder Shares transferred to the Company’s directors was approximately $203,000 or $5.08
per share. Upon consummation of an initial business combination, the Company will recognize approximately $203,000 in compensation expense.

Net Income Per Ordinary Share