Company: SIMA
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-043361
Chunk: 25

Company: SIM Acquisition Corp. I
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 25
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 3 are recognized at the end of the reporting period in which a change in valuation technique or methodology occurs. There were no
transfers for the three months ended March 31, 2025 or for the period from January 29 (inception) to December 31, 2024.

Note 9 – SEGMENT INFORMATION 

ASC Topic 280 establishes standards for companies
to report financial statement information about operating segments, products, services, geographic areas, and major customers. Operating
segments are defined as components of an enterprise for which separate financial information is available that is regularly evaluated
by the Company’s chief operating decision maker (“CODM”), or group, in deciding how to allocate resources and assess
performance.

The CODM has been identified as the Chief Financial
Officer, who reviews the operating results for the Company as a whole to make decisions about allocating resources and assessing financial
performance. Accordingly, management has determined that the Company only has one operating segment. When evaluating the Company’s
performance and making key decisions regarding resource allocation the CODM reviews several key metrics, which include the following:

    For the
 Three
 Months Ended
 March 31,
 2025  
    For the
 Period 
from 
January 29,
 2024
 (inception) to
 March 31,
 2024 
  
    General and administrative expenses 
    $241,472  
    $28,464 
  
    Interest earned on cash and marketable securities held in Trust Account 
     2,464,218  
     - 

 The key measures of segment
profit or loss reviewed by the CODM are interest earned on cash and marketable securities held in the Trust Account and operating and
formation costs. The CODM reviews interest earned on cash and marketable securities held in the Trust Account to measure and monitor shareholder
value and determine the most effective strategy of investment with the Trust Account funds while maintaining compliance with the trust
agreement. Operating and formation costs are reviewed and monitored by the CODM to manage and forecast cash to ensure enough capital is
available to complete a Business Combination within the Business Combination period. The CODM also reviews operating and formation costs
to manage, maintain and enforce all contractual agreements to ensure costs are aligned with all agreements and budget.

Note 10 – Subsequent
Events

The Company evaluated subsequent
events and transactions that occurred after the condensed balance sheet date up to May 15, 2025, the date that the condensed financial
statements