Company: APXIF
Filing Date: 2025-01-22
Form Type: F-4
Source: 0001213900-25-005463
Chunk: 599

Company: APx Acquisition Corp. I
Filing Date: 2025-01-22
Form: F-4
Chunk 599
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97 Notes to Combined Financial Statements (Amounts in US Dollars, except otherwise indicated) 1.The Group’s business, reorganization and general information (cont.) health risk information through Polygenic Risk Scores (“PRS”). Customers view their results on Rewell’s proprietary digital platform, where consumers can also schedule a telemedicine consultation with a healthcare professional to interpret their results and receive a health plan with recommendations. Basis of presentation and consolidation The accompanying financial statements include the combined financial results for Omnigenics and Heritas Argentina for the fiscal years ended June 30, 2024, and June 30, 2023. The financial statements for the fiscal year ended June 30, 2023, reflect the operations of Heritas Argentina prior to its acquisition by Omnigenics. The financial statements for the fiscal year ended June 30, 2024, reflect the combined operations of Omnigenics and its wholly owned subsidiary, Heritas Argentina, following the reorganization. The financial statements have been prepared using consistent accounting policies across both fiscal years to ensure comparability. The reorganization on February 26, 2024, represents a combination of entities under common control. This transaction does not meet the definition of a business combination and was accounted for as a capital reorganization of Heritas Argentina in the financial statememts of Omnigenics. Accordingly, no adjustments were made to the carrying amounts of assets and liabilities. The financial statements reflect the historical carrying values of Heritas Argentina’s assets and liabilities for the fiscal year ended June 30, 2023, and the combined carrying values for the fiscal year ended June 30, 2024. However, the issued share capital at June 30, 2024 reflects that of OmnigenicsAI as of the reorganization date. These combined financial statements include certain operating expenses of the Group that were incurred by Heritas Ltd. on behalf of the Group. These expenses, amounting to US$407,735 (this excludes stock based compensation — see note 13) and US$465,546 for the years ended June 30, 2024 and 2023, respectively, were recognized as a capital contribution in Share Premium. See Note 20 Related Parties for further information. Going concern As of June 30, 2024 and 2023, the Group had a negative working capital amounting to US$1,255,369 and US$1,058.292, and a shareholders´ deficit of US$2,845,653 as of June