Company: FOXX
Filing Date: 2025-10-15
Form Type: 10-K
Source: 0001213900-25-098953
Chunk: 1368

Company: Foxx Development Holdings Inc.
Filing Date: 2025-10-15
Form: 10-K
Item: Item 7A
Chunk 1368
---
19,539 
  
    Operating
    lease liabilities - current 
     211,525  
     72,531 
  
    Convertible
    promissory notes 
     -  
     6,000,000 
  
    Total
    Current Liabilities 
     30,401,252  
     8,948,981 

    NON-CURRENT LIABILITIES 

    Operating
    lease liabilities - non-current 
     889,827  
     332,435 
  
    Long-term
    loan - non-current 
     73,418  
     95,442 
  
    Total
    Non-current Liabilities 
     963,245  
     427,877 

    Total
    Liabilities 
     31,364,497  
     9,376,858 

    COMMITMENTS AND CONTINGENCIES
    (See Note 20) 

    SHAREHOLDERS' DEFICIT 

    Common stock, $0.0001 par value, 50,000,000 and 6,606,664 shares authorized as of June 30, 2025 and 2024, respectively; 6,780,597 and 3,303,333 shares issued and outstanding as of June 30, 2025 and 2024, respectively 
     678  
     330*
  
    Additional
    paid-in capital 
     14,686,705  
     7,024,162 
  
    Accumulated
    deficit 
     (20,047,064) 
     (11,026,928)
  
    Accumulated
    other comprehensive loss 
     (5,002) 
     - 
  
    Total
    Shareholders' Deficit 
     (5,364,683) 
     (4,002,436)

    Total
    Liabilities and Shareholders' Deficit 
    $25,999,814  
    $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 consolidated financial statements.

F-4

FOXX
DEVELOPMENT HOLDINGS INC.

 CONSOLIDATED
STATEMENTS OF OPERATIONS AND COMPRE