Company: FOXX
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-043597
Chunk: 52

Company: Foxx Development Holdings Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 1
Chunk 52
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0.58) 
    $(0.27) 
    $(0.83) 
    $(0.63)

  * There were no shares that have a dilutive effect for the three and nine months ended March 31, 2025 and 2024. 

The following table outlines
dilutive common share equivalents outstanding, which are excluded in the above diluted net loss per share calculation, as the effect of
their inclusion would be anti-dilutive or the share equivalents were contingently issuable as of each period presented:

    For the Three Months Ended  March 31,  
    For the Nine Months Ended  March 31, 

    2025  
    2024  
    2025  
    2024 

    (Unaudited)  
    (Unaudited)  
    (Unaudited)  
    (Unaudited) 
  
    Earnout Shares* 
     2,100,000  
     -  
     2,100,000  
     - 
  
    Warrants ** 
     12,145,917  
     -  
     12,145,917  
     - 
  
    RSUs** 
     727,009  
     -  
     727,009  
     - 
  
    Common stock underlying from the convertible notes ** 
     -  
     568,497  
     -  
     568,497 
  
    Total 
     14,972,926  
     568,497  
     14,972,926  
     568,497 

  * As described in Note 4 - Reverse recapitalization, the Earnout Shares that are contingently issuable in connection with the Business Combination are subject to vesting based on the Company’s financial performance during the earnout period. The Earnout Shares are excluded from the calculation of basic and diluted weighted-average number of common shares outstanding until vested. 

  ** The Company’s outstanding warrants, RSUs, and common stock that is potentially convertible from the convertible notes were excluded from the computation of diluted EPS because it has anti-dilutive effect as the company had a net loss during the periods presented. 

29

Note 24 — Segment information

The Company conducts business
as a single operating segment which is based upon the Company’s organizational and management structure