Company: FOXX
Filing Date: 2025-10-15
Form Type: 10-K
Source: 0001213900-25-098953
Chunk: 900

Company: Foxx Development Holdings Inc.
Filing Date: 2025-10-15
Form: 10-K
Item: Item 4
Chunk 900
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332,614 shares of Common Stock issued to Investor C (see Note 4).

As
of June 30, 2025 and 2024, the fair and carrying value of the Notes were $0 and $6,000,000, respectively, net of $0 unamortized premium,
discount, or issuance costs; and accrued interest related to the Notes were $0 and $267,945 as of June 30, 2025 and 2024, respectively.

F-24

Note 15
— Long-term loan

In
February 2023, the Company purchased and financed a vehicle, for which the lender put a lien on the title and will be taken as collateral
in the situation if the Company is unable to make repayment and default on the loan, with a six-year loan for a total of approximately
$137,000. As of June 30, 2025, the carrying value of the asset that has been pledged as a collateral is $65,772. The monthly payments
are $2,694 from March 2023 to February 2029, with an interest rate of 11.85% per annum.

The
obligation is payable as follows:

    Twelve months
    ended June 30, 
    Amount 
  
    2026 
    $23,743 
  
    2027 
     24,826 
  
    2028 
     27,984 
  
    Thereafter 
     20,608 
  
    Total
    long-term debt payment 
     97,161 
  
    Current
    portion of long-term debt 
     (23,743)
  
    Long-term
    debt – non-current portion 
    $73,418 

Interest
expense for the years ended June 30, 2025 and 2024 for the above loan amounted to $12,784 and $14,989, respectively.

Note 16
— Shareholders’ deficit

Common
stock 

As
of June 30, 2025 and 2024, the Company has 50,000,000 authorized shares of common stock, par value $0.0001 per share. As of June
30, 2025 and 2024, there are 6,780,597 and 3,303,333 shares of common stock outstanding.

Issuance
of common stock upon completion of the Reverse Recapitalization