Company: APXIF
Filing Date: 2025-06-11
Form Type: 10-Q
Source: 0001213900-25-053185
Chunk: 24

Company: APx Acquisition Corp. I
Filing Date: 2025-06-11
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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    2025  
    2024 

    Class A
Ordinary Shares, Redeemable  
    Class A  Ordinary Shares, Non-Redeemable  
    Class A
 Ordinary Shares, Redeemable  
    Class A  Ordinary Shares, Non-Redeemable 
  
    Basic and diluted net loss per ordinary share 

    Numerator 

    Allocation of net loss 
    $(395,690) 
    $(3,281,208) 
    $(1,270,470) 
    $(978,791)
  
    Denominator 

    Basic and diluted weighted average shares outstanding 
     520,056  
     4,312,500  
     5,597,624  
     4,312,500 

    Basic and diluted net loss per ordinary shares 
    $(0.76) 
    $(0.76) 
    $(0.23) 
    $(0.23)

 16

Income Taxes

The Company complies
with the accounting and reporting requirements of ASC Topic 740, “Income Taxes,” which requires an asset and liability approach
to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences between
the financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based on enacted
tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are
established, when necessary, to reduce deferred tax assets to the amount expected to be realized.

ASC Topic 740 prescribes
a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or
expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained
upon examination by taxing authorities. The Company recognizes accrued interest and penalties related to unrecognized tax benefits, if
any, as income tax expense. There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of March 31,
2025. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation
from its position.

The Company is considered
to be an exempted Cayman Islands company with no connection to any other taxable jurisdiction and is presently not subject to income taxes
or income tax filing requirements in the Cay