Company: APXIF
Filing Date: 2025-07-18
Form Type: F-4/A
Source: 0001213900-25-065703
Chunk: 148

Company: APx Acquisition Corp. I
Filing Date: 2025-07-18
Form: F-4/A
Chunk 148
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 or fail to regularly publish reports on us, we could lose visibility in the financial markets, which could cause the price of trading volume of our securities to decline. We have identified material weaknesses in our internal control over financial reporting. If we are unable to remediate these material weaknesses or otherwise fail to maintain an effective system of internal controls, we may not be able to accurately or timely report our financial condition or results of operations, which may adversely affect our business and the price of our ordinary shares. We have identified material weaknesses in our internal control over financial reporting in respect of OmnigenicsAI. Further, the management of APx has identified and reported material weaknesses (see “ — Risks Related to APx — APx has identified material weaknesses in its internal control over financial reporting. If APx is unable to remediate these material weaknesses or otherwise fail to maintain an effective system of internal controls, it may not be able to accurately or timely report its financial condition or results of operations, which may adversely affect its business and the price of its ordinary shares”). A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the annual or interim financial statements will not be prevented or detected on a timely basis. A company’s internal control over financial reporting is a process designed by, or under the supervision of, a company’s principal executive and principal financial officers, or persons performing similar functions, and effected by a company’s board of directors, management and other personnel to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements in accordance with IFRS. In connection with the preparation of our combined financial statements and audit process for the years ended June 30, 2024 and June 30, 2023, we and our independent registered public accounting firm have identified material weaknesses in our internal controls related to financial reporting. For each of the fiscal years ended June 30, 2024 and 2023, we have determined that we did not: •design or maintain an effective control environment commensurate with our financial reporting requirements due to lack of sufficient accounting professionals with the appropriate level of skill, experience and training. Specifically, we lack sufficient financial reporting and accounting personnel with appropriate knowledge of IFRS to address complex technical accounting issues and to prepare combined financial statements and related disclosures; •design and maintain formal accounting policies, procedures and controls to achieve complete, accurate and timely financial accounting, year -endreporting and disclosures,