Company: FOXX
Filing Date: 2025-10-15
Form Type: 10-K
Source: 0001213900-25-098953
Chunk: 1307

Company: Foxx Development Holdings Inc.
Filing Date: 2025-10-15
Form: 10-K
Item: Item 7
Chunk 1307
---
 payments  
  
    For
    the twelve months ending June 30, 2026 
    $251,566 
  
    For
    the twelve months ending June 30, 2027 
     260,287 
  
    For
    the twelve months ending June 30, 2028 
     270,941 
  
    For
    the twelve months ending June 30, 2029 
     283,141 
  
    For
    the twelve months ending June 30, 2030 
     92,377 
  
    Thereafter 
     50,437 
  
    Total
    lease payments 
     1,208,749 
  
    Less:
    discount 
     (107,397)
  
    Present
    value of operating lease liabilities 
     1,101,352 
  
    Operating
    lease liabilities, current portion 
     (211,525)
  
    Operating
    lease liabilities, non-current portion 
    $889,827 

Operating
lease expenses consist of the following:

    Operating
    lease cost 
    Classification 
    For
    the  Year Ended June 30, 2025  
    For
    the  Year Ended June 30, 2024 

    Lease
    expenses 
    General, and administrative 
    $245,801  
    $37,713 
  
    Lease
    expenses – short term 
    General,
    and administrative 
     14,726  
     26,000 
  
    Total
    operating lease cost 
      
    $260,527  
    $63,713 

For
the years ended June 30, 2025 and 2024, $175,607 and $33,260 of cash were used for operating lease liabilities, respectively.    

F-30

Note 20
— Commitments and contingencies

Contingencies

From
time to time, the Company is a party to certain legal proceedings, as well as certain asserted and un-asserted claims. Amounts accrued,
as well as the total amount of reasonably possible losses with respect to such matters, individually and in the aggregate, are not deemed
to be material to the consolidated financial statements.

On
November 22, 2024, a plaintiff filed Semensato v. Foxx Development Holdings Inc., et al., No. 2024-1200 (Del.