Company: APXIF
Filing Date: 2025-06-13
Form Type: F-4/A
Source: 0001213900-25-054324
Chunk: 419

Company: APx Acquisition Corp. I
Filing Date: 2025-06-13
Form: F-4/A
Chunk 419
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1,874,738 in the year ended June 30, 2024. The reduction was mainly attributed to lower demand for diagnostic tests, leading to a proportional decrease in the utilization of reagents, sequencing consumables, and sample processing services. In addition to the reduced test volumes, several operational improvements contributed to lower reagent and consumable consumption: • operational efficiencies: sequencing workflow optimizations, including reducing machine runtime, led to a more efficient use of reagents and consumables; • improved sequencing efficiency: enhancements in sequencing protocols resulted in a reduced need for reagents per sample, optimizing their usage; and • streamlined sample processing: process improvements in sample preparation allowed for more efficient use of consumables such as extraction kits and buffers. These factors, combined with the lower 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