Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 1024

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 4
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separation of beneficial conversion and cash conversion features from convertible instruments and simplifies the derivative scope exception
guidance pertaining to equity classification of contracts in an entity’s own equity. The new standard also introduces additional
disclosures for convertible debt and freestanding instruments that are indexed to and settled in an entity’s own equity. ASU 2020-06
amends the diluted earnings per share guidance, including the requirement to use the if-converted method for all convertible instruments.
ASU 2020-06 is effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years, with
early adoption permitted beginning on January 1, 2021. The Company assessed the impact, if any, that ASU 2020-06 would have on its financial
position, results of operations or cash flows and determined there to be none. 

In November 2023, the FASB issued ASU 2023-07,
Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. ASU 2023-07, which
is applicable to entities with a single reportable segment, will primarily require enhanced disclosures about significant segment expenses
and enhanced disclosures in interim periods. The guidance in ASU 2023-07 will be applied retrospectively and is effective for annual reporting
periods in fiscal years beginning after December 15, 2023 and interim reporting periods in fiscal years beginning after December 31, 2024,
with early adoption permitted. The Company adopted this guidance as of January 1, 2024.  The adoption resulted in disclosure changes
only.

In December
2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (ASU 2023-09). ASU 2023-09 is
intended to enhance the decision usefulness of income tax disclosures and requires the disclosure of various disaggregated information,
including an entity’s effective tax rate reconciliation as well as additional information on taxes paid. This ASU is effective on
a prospective basis for annual periods beginning after December 15, 2024, with early adoption allowed. The Company is currently assessing
the impact, if any, ASU 2023-09 would have on its disclosures. 

Management
does not believe that any recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material
effect