Company: FOXX
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-043597
Chunk: 54

Company: Foxx Development Holdings Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 1
Chunk 54
---
  
     - 
  
    Office expenses 
     74,883  
     8,429  
     257,609  
     33,167 
  
    Rent expenses 
     66,850  
     13,149  
     192,122  
     44,576 
  
    Other general and administrative 
     76,745  
     38,748  
     289,977  
     103,261 
  
    Other research and development expenses 
     427,386  
     -  
     1,007,607  
     - 
  
    Research and development expenses-related party 
     22,792  
     45,584  
     91,168  
     45,584 
  
    Stock-based compensation expenses 
     326,588  
     -  
     527,542  
     - 
  
    Other segment items: 

    Interest expense 
     1,553,993  
     77,573  
     3,005,186  
     169,778 
  
    Other expense (income), net 
     2,118  
     (3,440) 
     257  
     (2,995)
  
    Change in fair value of earnout liabilities 
     (1,032,267) 
     -  
     (5,687,989) 
     - 
  
    Provision for income taxes 
     -  
     19,828  
     -  
     19,828 
  
    Segment net loss 
    $(4,084,511) 
    $(886,570) 
    $(4,927,154) 
    $(2,074,011)

Note 25 — Subsequent events

The Company evaluated all
events and transactions that occurred after March 31, 2025 up through the date the Company issued these unaudited condensed consolidated
financial statements.

On April 2, 2025, President
Trump signed the Executive Order, Regulating Imports with a Reciprocal Tariff to Rectify Trade Practices that Contribute to Large and
Persistent Annual United States Goods Trade Deficits (“the April 2 EO”), to take action based on the results of certain investigations
related to the causes of the U.S.’s large and