Company: APXIF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026189
Chunk: 1991

Company: APx Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 10
Chunk 1991
---
 net (loss) income 
    $(65,212) 
    $(53,845) 
    $2,767,853  
    $1,488,542 
  
    Denominator Basic and diluted weighted average shares outstanding 
     5,222,899  
     4,312,500  
     8,018,829  
     4,312,500 
  
    Basic and diluted net (loss) income per ordinary shares 
    $(0.01) 
    $(0.01) 
    $0.35  
    $0.35 

F-15

Income Taxes 

The Company
complies with the accounting and reporting requirements of ASC Topic 740, “Income Taxes,” which requires an asset and liability
approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences
between the financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based
on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances
are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. 

ASC Topic
740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions
taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be
sustained upon examination by taxing authorities. The Company recognizes accrued interest and penalties related to unrecognized tax benefits,
if any, as income tax expense. There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of December
31, 2024 and 2023. The Company is currently not aware of any issues under review that could result in significant payments, accruals or
material deviation from its position. 

The Company
is considered to be an exempted Cayman Islands company with no connection to any other taxable jurisdiction and is presently not subject
to income taxes or income tax filing requirements in the Cayman Islands or the United States. As such, the Company’s tax provision
was zero for the periods presented. 

Warrant Liability 

The Company
accounts for warrants based on an assessment of the warrant’s specific terms and applicable authoritative guidance in Financial
Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 480, “Distinguishing Liabilities
from Equity