Company: FOXX
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001213900-25-006111
Chunk: 199

Company: Foxx Development Holdings Inc.
Filing Date: 2025-01-24
Form: 424B3
Chunk 199
---
 |   |        — |

____________ (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 the executives of the Company. (2)On September 1, 2022, the Company entered into an agreement with Company B for the research and development project.

F-46

FOXX DEVELOPMENT INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Note 11 — Related party balances and transactions (cont.) Short-term loan — related party As of June 30, 2024 and 2023, the outstanding short -termloan from related party consists of the following:

|              |     | June 30, 
 2024     |   |     | June 30, 
 2023     |        |
|:-------------|:----|:---------|:--|:----|:---------|-------:|
| Executive(1) |     | $        | — |     | $        | 91,235 |

____________ (1)On July 23, 2019, the Company entered into a loan agreement with the executive of the Company. The loan agreement allows the Company to draw up to $1,000,000 and is non -interestbearing. The Company’s imputed interest is immaterial. During the year ended June 30, 2024, the Company made a full repayment to the related party with a total amount of $91,235. Related party transactions Research and development expenses

|              | Name of Related Party |                                                                           | Relationship |   |    For the 
 Year Ended 
   June 30, 
       2024 |     |   |    For the 
 Year Ended 
   June 30, 
       2023 |
|:-------------|:----------------------|:--------------------------------------------------------------------------|:-------------|:--|-----------:|:----|:--|-----------:|
| Company B(1) |                       | Controlled by the immediate family member of the executive of the Company |              | $ |     91,168 |     | $ |    272,080 |

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

|              | Name of Related Party |                                        | Relationship |   |    For the 
 Year Ended 
   June 30, 
       2024 |     |   |    For