Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 1337

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 7
Chunk 1337
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 create further global economic consequences, including but not limited to the possibility
of extreme volatility and disruptions in the financial markets, diminished liquidity and credit availability, declines in consumer confidence,
declines in economic growth, increases in inflation rates and uncertainty about economic and political stability. Such global consequences
may materially and adversely affect the Company’s ability to consummate an initial Business Combination, or the operations of a
target business with which the Company ultimately consummates an initial Business Combination. In addition, the Company’s ability
to consummate an initial Business Combination may be dependent on the ability to raise equity and debt financing which may be impacted
by these events, including as a result of increased market volatility, or decreased market liquidity in third-party financing being unavailable
on terms acceptable to the Company or at all. The impact of this action and related sanctions on the global economy and the specific
impact on the Company’s financial position, results of operations and/or ability to consummate an initial Business Combination
are not yet determinable. The financial statements do not include any adjustments that might result from the outcome of these uncertainties.

Going Concern Consideration 

At December 31, 2024 and 2023, the Company had
$120 and $8,167 in operating cash and a working capital deficit of $4,765,415 and $737,336, respectively, excluding Accrued interest
receivable as it is not available for working capital purposes. The Company has incurred and expects to continue to incur significant
costs in pursuit of its financing and acquisition plans. 

In connection with the Company’s assessment
of going concern considerations in accordance with Financial Accounting Standard Board’s Account Standards Update (“ASU”)
2014-15, “Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern.” The Company has until
December 9, 2025 (48 months from the closing of the IPO), if we further extend the period by up to twelve additional one-month periods,
to consummate a Business Combination. It is uncertain that the Company will be able to consummate a Business Combination by this time.
If a Business Combination is not consummated by this date, there will be a mandatory liquidation and subsequent dissolution of the Company.
Management has determined that the mandatory liquidation, should a Business Combination not occur, and potential subsequent dissolution
as well as insufficient cash flows raises substantial doubt about the Company’s ability to continue as a going concern. The financial
statements do not include any adjustment that might result from