Company: APXIF
Filing Date: 2025-07-03
Form Type: F-4/A
Source: 0001213900-25-061545
Chunk: 639

Company: APx Acquisition Corp. I
Filing Date: 2025-07-03
Form: F-4/A
Chunk 639
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,636 as of December 31, 2024. Additionally, the Group reported recurring operating losses amounting to US$1,318,762 and US$575,959 and negative operating cash flows amounting to US$1,505,040 and US$856,861 for the six -monthperiods ended December 31, 2024 and 2023, respectively. F-97 Notes to Unaudited Interim Condensed Combined Financial Statements (Amounts in US Dollars, except otherwise indicated) 1.General Information (cont.) These conditions raise substantial doubt about the Group’s ability to continue as a going concern. The accompanying interim condensed combined financial statements do not include any adjustments that might result from the outcome of this uncertainty. Currently, the Group lacks sufficient financial resources to meet its obligations, distribute dividends to its shareholders, or fully implement its business plan. Without securing additional capital, the Group will not be able to sustain its operations. Management has plans to address the Company’s financial situation as follows: In the near term, management plans to continue to focus on raising the funds necessary to fully implement the Company’s business plan. Management believes that certain shareholders and/or investors will continue to advance the capital required to meet the Company’s financial obligations (see notes 2(d) and 23). There is no assurance, however, that these investors and shareholders will continue to advance capital to the Company or that the new business operations will be profitable. The possibility of failure in obtaining additional funding and the potential inability to achieve profitability raise substantial doubts about the Company’s ability to continue as a going concern. The accompanying interim condensed combined financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from the possible inability of the Company to continue as a going concern. Argentine currency status and macroeconomic outlook Heritas S.A.U. operates in Argentina. The Argentine economy has been declared hyperinflationary as of July 1, 2018. For the six -monthended December 31, 2024, and 2023, Argentina’s inflation rate was 21.13% and 106.67%, respectively. The Group uses Argentina’s official exchange rate to account for its operations and transactions in Argentina. As of December 31, 2024, and 2023, the official exchange rate was ARS1032.00 and ARS808.45, respectively, against the US Dollar. For the six -monthended