Company: FOXX
Filing Date: 2025-11-18
Form Type: 10-Q
Source: 0001213900-25-112192
Chunk: 5

Company: Foxx Development Holdings Inc.
Filing Date: 2025-11-18
Form: 10-Q
Item: Item 1
Chunk 5
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ASH FLOWS FROM OPERATING ACTIVITIES: 

    Net loss 
    $(2,865,442) 
    $(2,266,789)
  
    Adjustments to reconcile net loss to net cash used in operating activities: 

    Depreciation 
     11,742  
     11,281 
  
    Interest expense from convertible promissory notes 
     -  
     140,740 
  
    Amortization of operating right of use assets 
     434,362  
     54,417 
  
    Recovery of credit losses, net 
     (104,276) 
     - 
  
    Stock-based compensation expenses 
     296,797  
     - 
  
    Change in fair value of earnout liabilities 
     -  
     49,861 
  
    Loss on disposal of equipment 
     592  
     - 
  
    Impairments of inventories 
     484,315  
     - 
  
    Change in operating assets and liabilities: 

    Accounts receivable 
     (6,021,541) 
     (12,119,471)
  
    Inventories 
     745,716  
     (2,772,477)
  
    Contract assets 
     189,714  
     (31,141)
  
    Prepaid expenses and other current assets 
     809,397  
     (210,482)
  
    Amount due from related parties 
     8,000  
     140 
  
    Security deposits 
     -  
     (573,807)
  
    Security deposits - related party 
     -  
     - 
  
    Accounts payable 
     5,428,061  
     17,889,066 
  
    Contract liabilities 
     367,331  
     (505,850)
  
    Taxes payable 
     (5,100) 
     - 
  
    Other payables and accrued liabilities 
     333,376  
     214,054 
  
    Other payable - related parties 
     6,213  
     (77,208)
  
    Operating lease liabilities 
     (496,020) 
     (45,793)
  
    Net cash used in operating activities 
     (376,763) 
     (243,