Company: SIMA
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-043361
Chunk: 96

Company: SIM Acquisition Corp. I
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 2
Chunk 96
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of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future
conditions.

Changes in Internal Control over Financial
Reporting

There was no change in our
internal control over financial reporting that occurred during the fiscal quarter covered by this Report that has materially affected,
or is reasonably likely to materially affect, our internal control over financial reporting.

21

PART II – OTHER INFORMATION

Item 1. Legal Proceedings.

To the knowledge of our Management
Team, there is no material litigation currently pending or contemplated against us, any of our officers or directors in their capacity
as such or against any of our property.

Item 1A. Risk Factors.

As a smaller reporting company
under Rule 12b-2 of the Exchange Act, we are not required to include risk factors in this Report. For additional risks relating to our
operations, other than as set forth below, see the section titled “Risk Factors” contained in (i) our IPO Registration Statement,
(ii) our Quarterly Report on Form 10-Q for the period ended March 31, 2024 and (iii) our 2024 Annual Report. Any of these factors could
result in a significant or material adverse effect on our results of operations or financial condition. Additional risks could arise that
may also affect our business or ability to consummate an initial Business Combination. We may disclose changes to such risk factors or
disclose additional risk factors from time to time in our future filings with the SEC.

Changes in international trade policies,
tariffs and treaties affecting imports and exports may have a material adverse effect on our search for an initial Business Combination
target or the performance or business prospects of a post-Business Combination company.

There have recently been significant
changes to international trade policies and tariffs affecting imports and exports. Any significant increases in tariffs on goods or materials
or other changes in trade policy could negatively affect our search for a target and/or our ability to complete our initial Business Combination.

Recently, the U.S. has implemented
a range of new tariffs and increases to existing tariffs. In response to the tariffs announced by the U.S., other countries have imposed,
are considering imposing, and may in the future impose new or increased tariffs on certain exports from the United States. There is currently
significant uncertainty about the future relationship between the United States and other countries with respect to trade policies, taxes,
government regulations and tariffs. and we cannot predict whether, and to what extent, current tariffs will continue or