Company: APXIF
Filing Date: 2025-07-03
Form Type: F-4/A
Source: 0001213900-25-061545
Chunk: 411

Company: APx Acquisition Corp. I
Filing Date: 2025-07-03
Form: F-4/A
Chunk 411
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 In exchange for the Heritas Contribution, we issued 30 million shares to the Parent. This restructuring was completed with a view to prepare us for our strategic business combination with APx. Key Factors Affecting Operating Results The Company has historically incurred significant losses: $1,322,306, $4,516,095 and $1,291,932 for the six months ended December31, 2024, and for the fiscal years ended June 30, 2024 and 2023, respectively. The Company has also recorded accumulated deficits of $8,263,789, $6,941,483 and $3,588,427 as of December31, 2024, June 30, 2024 and 2023, respectively. Additionally, the Company’s recurring cash outflows from operations amounted to $816,433, $1,885,895 and $1,306,705 for the six months ended December31, 2024 and for the years ended June 30, 2024 and 2023, respectively. We expect to continue to incur significant expenses and operating losses for the foreseeable future as we continue to expand research and development efforts, enhance our existing consumer products, services and business model, broaden our customer base, work with regulatory agencies, and hire additional employees to support our growth. Any future losses may have an adverse effect on our shareholders’ equity and working capital, which could negatively 209 impact our operations and investments capacity. A failure to sustain or grow its revenue levels or obtain sufficient profitability levels may negatively affect our business, financial condition, results of operations and cash flows. In this context, we may need to raise additional capital in the future through share issuances, which could cause the market price of our shares to decline. These factors indicate that a material uncertainty exists that may cast significant doubt (or raise substantial doubt as contemplated by PCAOB standards) about the Company’s ability to continue as a going concern. The accompanying audited combined financial statements and the accompanying unaudited interim condensed combined financial statements of the Company do not include any adjustments that might result from the outcome of this uncertainty. We believe that our performance and future success depends on several factors that present significant opportunities for growth but also pose risks and challenges, including those discussed below and in the section of this proxy statement/prospectus entitled “ Risk Factors — Risks Related to our Business and Strategy.” Basis of Preparation and Significant Accounting Policies The following is a description of the Company’s accounting policies that it believes are most critical