Company: FOXX
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-043597
Chunk: 142

Company: Foxx Development Holdings Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 8
Chunk 142
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   $45,584  

  (1) On September 1, 2022, the Company entered into an agreement with Company A for the research and development project. 

18

Consulting expenses

  Name of Related Party  Relationship  For the Three Months Ended March 31,  2025   For the Three Months Ended March 31, 2024         (Unaudited)   (Unaudited)   Azure(1)  Owned by an immediate family member of the Company’s 10% or more shareholder  $141,000   $75,000  

  Name of Related Party  Relationship  For the Nine Months Ended March 31,  2025   For the Nine Months Ended March 31, 2024         (Unaudited)   (Unaudited)    Azure(1)  Owned by an immediate family member of the Company’s 10% or more shareholder  $423,000   $225,000  

  (1) On September 1, 2022, the Company entered into a consulting agreement to receive consulting services provided by a consulting company which is owned by an immediate family member of the Company’s more than 10% shareholder. 

Note 13 — Short-term loans

As of March 31, 2025 and
June 30, 2024, the outstanding short-term loan from third parties consists of the following:

    March 31,  2025  
    June 30,  2024 

    (Audited) 
  
    Lender A(1) 
    $          -  
    $261,208 
  
    Lender B(2) 
     -  
     30,000 
  
    Total short-term loan 
    $-  
    $291,208 

  (1) On December 30, 2020, the Company entered into a loan agreement with a third-party lender. The agreement allows the Company to draw up to $600,000 and is non-interest bearing. The Company’s imputed interest is immaterial. During the nine months ended March 31, 2025, the Company made a full repayment to the third party with a total amount of $261,208. 

  (2) On November 11, 2019, the Company entered into a loan agreement for an amount of $50,000 with a