Company: APXIF
Filing Date: 2025-06-11
Form Type: 10-Q
Source: 0001213900-25-053185
Chunk: 3

Company: APx Acquisition Corp. I
Filing Date: 2025-06-11
Form: 10-Q
Item: Part I, Item 1
Chunk 3
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 SHAREHOLDERS’ DEFICIT

FOR THE THREE MONTHS ENDED MARCH 31, 2024 

    Class A
Ordinary Shares  
    Class B
Ordinary Shares  
    Additional
 Paid-in  
    Accumulated  
    Total 
Shareholders’ 

    Shares  
      Amount    
     Shares    
    Amount  
    Capital    Deficit    
    Deficit

    Balance-December 31, 2023 
     4,312,500  
    $431  
     —  
    $—  
    $—  
    $(1,616,517) 
    $(1,616,086)
  
    Remeasurement of Class A ordinary shares to redemption amount 
     —  
     —  
     —  
        —  
         —  
     (1,188,333) 
     (1,188,333)
  
    Net loss 
     —  
     —  
     —  
        —  
         —  
     (2,249,261) 
     (2,249,261)

    Balance-March 31, 2024 
     4,312,500  
    $431  
     —  
    $—  
    $    —  
    $(5,054,111) 
    $(5,053,680)

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

 4

APX ACQUISITION CORP.
I

UNAUDITED CONDENSED STATEMENTS
OF CASH FLOWS

    For the
 Three Months
Ended March 31, 
2025  
    For the
 Three Months
Ended
 March 31,
 2024 
  
    Cash Flows from Operating Activities: 

    Net loss 
    $(3,676,898) 
    $(2,249,261)
  
    Adjustments to reconcile net loss to net cash used in operating activities: 

    Change in fair value of warrant liabilities 
     3,339,250  
     1,757,500 
  
    Income earned in investments in trust account 
     (103,506) 
     (816,813)
  
    Changes