Company: APXIF
Filing Date: 2025-03-31
Form Type: F-4/A
Source: 0001213900-25-026339
Chunk: 397

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: F-4/A
Chunk 397
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 has concluded not to recognize deferred tax assets due to the improbability of future taxable amounts being available to offset those temporary differences and losses. Revenue recognition The Company derives revenues primarily from Heritas Diagnostics division, which includes the provision of clinical genetic services, and from Rewell, which offers at -homeDNA and microbiome testing kits. The Company recognizes revenue when its customers obtain control of promised services in an amount that reflects the consideration that it expects to receive in exchange for transferring the services to a customer. Revenue generated from selling the tests and other genetics sequencing services is recognized at a point in time when the reports with the results of the tests are sent to CIBIC. Heritas Diagnostics The Heritas Diagnostics division provides clinical genetic test, covering the fields of oncology, prenatal care, rare diseases and human microbiome, and provides other genetic sequencing services. To supply these clinical genetic tests, Heritas Argentina has established a commercial partnership with CIBIC, a shareholder of the Parent. CIBIC handles the commercialization of all clinical genetic tests from the Heritas Diagnostics business in Argentina on an exclusive basis. Under this arrangement, Heritas Argentina has identified one performance obligation, which is the delivery of the analysis result to the customer. Heritas Argentina enables CIBIC to offer these tests as part of its portfolio of services, and CIBIC is responsible to market these tests directly to patients and health industry stakeholders, such as physicians and health institutions. CIBIC collects the samples from patients in its medical centers and delivers them to Heritas Argentina’s laboratory for processing. Once samples are processed, Heritas Argentina generates reports with the results, which CIBIC then delivers to patients and physicians. For the services provided, the Company sets a price for each category of tests, which CIBIC pays per test requested to Heritas Argentina. CIBIC then sells these tests to end consumers at a price it determines. To a lesser extent, the Company also provides other genetic sequencing services to scientific and health institutions. Revenue generated from selling the tests and other genetics sequencing services is recognized at a point in time when the reports with the results of the tests are sent to CIBIC. Rewell The Rewell division provides an at -homeDNA and microbiome test kits for nutrition -basedhealth risk -managementthat fosters preventive health strategies through DNA and gut microbiome insights. There are two identifiable performance obligations of Rewell: (i) the delivery of the results of the tests to the customer, and (ii) holding