Company: SIMA
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-043361
Chunk: 75

Company: SIM Acquisition Corp. I
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 75
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, provided reasonable assurance that the information required to be disclosed by us in reports
filed under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and
forms.

We do not expect that our
disclosure controls and procedures will prevent all errors and all instances of fraud. Disclosure controls and procedures, no matter how
well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the disclosure controls and procedures
are met. Further, the design of disclosure controls and procedures must reflect the fact that there are resource constraints, and the
benefits must be considered relative to their costs. Because of the inherent limitations in all disclosure controls and procedures, no
evaluation of disclosure controls and procedures can provide absolute assurance that we have detected all our control deficiencies and
instances of fraud, if any. The design of disclosure controls and procedures also is based partly on certain assumptions about the likelihood
of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future
conditions.

Changes in Internal Control over Financial
Reporting

There was no change in our
internal control over financial reporting that occurred during the fiscal quarter covered by this Report that has materially affected,
or is reasonably likely to materially affect, our internal control over financial reporting.

21

PART II – OTHER INFORMATION

Item 1. Legal Proceedings.

To the knowledge of our Management
Team, there is no material litigation currently pending or contemplated against us, any of our officers or directors in their capacity
as such or against any of our property.

Item 1A. Risk Factors.

As a smaller reporting company
under Rule 12b-2 of the Exchange Act, we are not required to include risk factors in this Report. For additional risks relating to our
operations, other than as set forth below, see the section titled “Risk Factors” contained in (i) our IPO Registration Statement,
(ii) our Quarterly Report on Form 10-Q for the period ended March 31, 2024 and (iii) our 2024 Annual Report. Any of these factors could
result in a significant or material adverse effect on our results of operations or financial condition. Additional risks could arise that
may also affect our business or ability to consummate an initial Business Combination. We may disclose changes to such risk factors or
disclose additional risk factors from time to time in our future filings with the SEC.

Changes in international trade policies,
tariffs and treaties