Company: APXIF
Filing Date: 2025-06-11
Form Type: 10-Q
Source: 0001213900-25-053185
Chunk: 4

Company: APx Acquisition Corp. I
Filing Date: 2025-06-11
Form: 10-Q
Item: Part I, Item 1
Chunk 4
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 in operating assets and liabilities: 

    Prepaid expenses 
     —   
     (24,990)
  
    Accrued interest receivable 
     37,984  
     3,480 
  
    Accrued expenses and accounts payable 
     147,661  
     1,169,208 
  
    Due to Related Party 
     —  
     512 
  
    Net cash used in operating activities 
     (255,509) 
     (160,364)
  
    Cash Flows from Investing Activities: 

    Cash deposited in Trust Account 
     —  
     (375,000)
  
    Net cash used in investing activities 
     —  
     (375,000)
  
    Cash Flows from Financing Activities: 

    Convertible note payable 
     —  
     527,765 
  
    Proceeds received from promissory notes 
     255,461  
     — 
  
    Net cash provided by financing activities 
     255,461  
     527,765 
  
    Net Change in Cash 
     (48) 
     (7,599)
  
    Cash - Beginning of period 
     120  
     8,167 
  
    Cash - End of period 
    $72  
    $568 
  
    Non-cash investing and financing activities: 

    Remeasurement of Class A shares subject to possible redemption 
    $65,522 
    $1,188,333 

The accompanying notes
are an integral part of these unaudited condensed financial statements.

 5

NOTES TO CONDENSED UNAUDITED
FINANCIAL STATEMENTS

March 31, 2025

NOTE 1. DESCRIPTION OF ORGANIZATION, AND
BUSINESS OPERATIONS AND GOING CONCERN

APx Acquisition Corp.
I (the “Company”) is a blank check company incorporated in the Cayman Islands on May 13, 2021. The Company was formed for
the purpose of effectuating a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or other similar business
combination with one or more businesses (the “Business Combination”). The Company is an early stage and emerging growth company
and, as such, the Company is subject to all of the risks associated with early stage and emerging growth companies.

As