Company: FOXX
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001213900-25-006111
Chunk: 204

Company: Foxx Development Holdings Inc.
Filing Date: 2025-01-24
Form: 424B3
Chunk 204
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 the third parties of the Company, accounted for 41%, 29% and 16% of the Company’s total revenues. For the year ended June 30, 2023, one customer, which is a third party of the Company, accounted for 100% of the Company’s total revenues. (b) Major suppliers For the year ended June 30, 2024, three suppliers, supplier A, supplier B and supplier C, which is a third party of the Company, accounted for 49%, 31% and 18% of the Company’s total purchases. For the year ended June 30, 2023, one supplier, which is a third party of the Company, accounted for 100% of the Company’s total purchases. (c) Geographic areas For the years ended June 30, 2024 and 2023, all of the Company’s long -livedassets are located in the United States and all of the Company’s revenues are derived solely from the United States, accordingly, no geographical information is presented. Note 17 — Lease The Company has elected, as an accounting policy, to not apply ASC 842 for short -termleases. Below are the short -termleases: The Company rented a mailbox for $450 per month from November 1, 2022 to October 31, 2024. The Company determined that the accounting impact of this lease is immaterial to the Company’s consolidated financial statements for the years ended June 30, 2024 and 2023 and no operating right -of -useassets and lease liabilities were capitalized as June 30, 2024 and 2023. The Company terminated this lease on August 5, 2023.

F-49

FOXX DEVELOPMENT INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Note 17 — Lease (cont.) On August 1, 2023, the Company entered a twelve -monthlease agreement to rent a general office and storage space for its purchased inventory for a monthly rental fee of $100. The Company determined that the accounting impact of this lease is immaterial to the Company’s consolidated financial statements for the year ended June 30, 2024 and no operating right -of -useassets and lease liabilities were capitalized as of June 30, 2024. On August 14, 2023, the Company entered a six -monthlease agreement to rent an office for operating purposes with a monthly rental fee of $550. The Company