Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 2197

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 13
Chunk 2197
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-2   Balance Sheets as of December 31, 2024 and 2023   F-3   Statements of Operations for the years ended December 31, 2024 and 2023   F-4   Statements of Changes in Shareholders’ Deficit for the years ended December 31, 2024 and 2023   F-5   Statements of Cash Flows for the years ended December 31, 2024 and 2023   F-6   Notes to Financial Statements   F-7  

F-1

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING
FIRM 

To the Shareholders and Board of Directors of 

APx Acquisition Corp. I 

Opinion on the Financial Statements 

We have audited the accompanying balance sheets of APx Acquisition
Corp. I (the “Company”) as of December 31, 2024 and 2023, the related statements of operations, changes in shareholders’
deficit and cash flows for each of the two years in the period ended December 31, 2024, and the related notes (collectively referred to
as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial
position of the Company as of December 31, 2024 and 2023, and the results of its operations and its cash flows for each of the two years
in the period ended December 31, 2024, in conformity with accounting principles generally accepted in the United States of America.

Explanatory Paragraph - Going Concern 

The accompanying financial statements have been prepared assuming
that the Company will continue as a going concern. As more fully described in Note 1 to the financial statements, the Company is a
Special Purpose Acquisition Corporation that was formed for the purpose of completing a merger, capital stock exchange, asset
acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities on
or before December 9, 2025. The Company entered into a definitive merger/business combination agreement with a business combination
target on March 25, 2024; however, the completion of this transaction is subject to the approval of the Company’s shareholders
among other conditions. There is no assurance that the Company will obtain the necessary approvals, satisfy the required closing
conditions, raise the additional capital it needs to fund its operations, and complete the transaction prior to December 9, 2025, if
at all. The Company