Company: FOXX
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014221
Chunk: 7

Company: Foxx Development Holdings Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Item 1
Chunk 7
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    Repayments to short-term loans - related party 
     -  
     (91,235)
  
    Repayments to short-term loans 
     (291,208) 
     - 
  
    Principal payments of long-term loan 
     (9,477) 
     (7,041)
  
    Proceeds from convertible promissory note 
     9,000,000  
     2,000,000 
  
    Proceeds from reverse recapitalization, net of payments of transaction costs 
     19,710,288  
     - 
  
    Proceeds from issuance of common stock through exercise of warrants 
     120,750  
     - 
  
    Payment of redemption payable 
     (20,499,790) 
     - 
  
    Payments of deferred transaction costs 
     (131,400) 
     (153,600)
  
    Net cash provided by financing activities 
     7,899,163  
     1,748,124 

    NET CHANGE IN CASH 
     3,355,595  
     (1,368,847)

    CASH AND RESTRICTED CASH, beginning of the period 
     587,448  
     1,824,849 

    CASH AND RESTRICTED CASH, end of the period 
    $3,943,043  
    $456,002 

    SUPPLEMENTAL CASH FLOW INFORMATION: 

    Cash paid for income tax 
    $50  
    $- 
  
    Cash paid for interest 
    $730,795  
    $6,649 

    NON-CASH INVESTING AND FINANCING ACTIVITIES: 

    Initial recognition of operating right-of-use assets and lease liabilities 
    $750,338  
    $132,382 
  
    Modification of operating right-of-use assets and lease liabilities 
    $121,655  
    $- 
  
    Conversion of convertible promissory notes into common stock 
    $15,408,685  
    $- 
  
    Reverse recapitalization transaction costs net against additional-paid in capital 
    $893,577  
    $- 
  
    Deferred transaction costs included in other payables and accrued liabilities 
    $300,000  
    $- 
  
    Initial recognition of earnout liabilities