Company: FOXX
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014221
Chunk: 1

Company: Foxx Development Holdings Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Item 1
Chunk 1
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 loans 
     -  
     291,208 
  
    Current maturity of long-term loan 
     20,744  
     19,539 
  
    Operating lease liabilities - current 
     201,598  
     72,531 
  
    Convertible promissory notes 
     -  
     6,000,000 
  
    Earnout liabilities 
     1,032,285  
     - 
  
    Total Current Liabilities 
     28,650,217  
     8,948,981 

    NON-CURRENT LIABILITIES 

    Operating lease liabilities - non-current 
     997,666  
     332,435 
  
    Long-term loan - non-current 
     84,759  
     95,442 
  
    Total Non-current Liabilities 
     1,082,425  
     427,877 

    Total Liabilities 
     29,732,642  
     9,376,858 

    COMMITMENTS AND CONTINGENCIES (See Note 20) 

    SHAREHOLDERS’ EQUITY (DEFICIT) 

    Common stock, $0.0001 par value, 50,000,000 and 6,606,664 shares authorized as of December 31, 2024 and June 30, 2024, respectively; 7,280,597 and 3,303,333 shares issued and outstanding as of December 31, 2024 and June 30, 2024, respectively 
     728  
     330*
  
    Additional paid-in capital 
     14,071,931  
     7,024,162 
  
    Accumulated deficit 
     (11,869,571) 
     (11,026,928)
  
    Total Shareholders’ Equity (Deficit) 
     2,203,088  
     (4,002,436)

    Total Liabilities and Shareholders’ Equity (Deficit) 
    $31,935,730  
    $5,374,422 

*Giving retroactive effect to reverse recapitalization effected
on September 26, 2024 to reflect exchange ratio of approximately 3.3033 as described in Note 4.

The accompanying notes
are an integral part of these unaudited condensed consolidated financial statements.