Company: SIMA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026255
Chunk: 976

Company: SIM Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 9A
Chunk 976
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 year of our Initial Public Offering. An “independent director”
is defined generally as a person who, in the opinion of the company’s board of directors, has no material relationship with the
listed company (either directly or as a partner, shareholder or officer of an organization that has a relationship with the company).
We have three “independent directors” as defined in Nasdaq rules and applicable SEC rules. Our Board of Directors has determined
that Dr. Cosgrove, Ms. Grasso, and Mr. Capone are “independent directors” as defined in Nasdaq listing standards
and applicable SEC rules. Our independent directors have regularly scheduled meetings at which only independent directors are present.

35

Item
14. Principal Accountant Fees and Services.

The following is a summary
of fees paid or to be paid to Withum for services rendered.

Audit Fees

Audit fees consist of fees
for professional services rendered for the audit of our year-end financial statements and services that are normally provided by Withum
in connection with regulatory filings. The aggregate fees of Withum for professional services rendered for the audit of our annual financial
statements, review of the financial information included in our Forms 10-Q for the respective periods and other required filings with
the SEC for the year ended December 31, 2024 totaled approximately $134,680. The above amount includes interim procedures and audit fees,
as well as attendance at Audit Committee meetings.

Audit-Related Fees

Audit-related fees consist
of fees billed for assurance and related services that are reasonably related to performance of the audit or review of our financial statements
and are not reported under “Audit Fees.” These services include attest services that are not required by statute or regulation
and consultations concerning financial accounting and reporting standards. We did not pay Withum for any audit-related fees for the year
ended December 31, 2024.

Tax Fees

Tax fees
consist of fees billed for professional services relating to tax compliance, tax planning and tax advice. We did not pay Withum
for tax services, planning or advice for the year ended December 31, 2024.

All Other Fees 

All
other fees consist of fees billed for all other services.  We did not pay Withum for any other services for the year ended
December 31, 2024.

Pre-Approval Policy

Our Audit Committee was formed
upon the consummation of our Initial Public Offering. As a result, the Audit Committee did not pre-approve all