Company: FOXX
Filing Date: 2025-01-10
Form Type: S-1
Source: 0001213900-25-002199
Chunk: 165

Company: Foxx Development Holdings Inc.
Filing Date: 2025-01-10
Form: S-1
Chunk 165
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 |
| Furniture and fixtures            |     |   |         3,432 |   |     |          |    3,432 |   |
| Vehicles                          |     |   |       226,091 |   |     |          |  191,091 |   |
| Subtotal                          |     |   |       239,465 |   |     |          |  204,465 |   |
| Less: accumulated depreciation    |     |   |       (73,127 | ) |     |          |  (61,846 | ) |
| Total property and equipment, net |     | $ |       166,338 |   |     | $        |  142,619 |   |

Depreciation expense for the three months ended September 30, 2024 and 2023 amounted to $ and $, respectively.

Note 10 — Other payables and accrued liabilities

|                                              |     |   | September 30, 
          2024 |     |          | June 30, 
     2024 |
|:---------------------------------------------|:----|:--|--------------:|:----|:---------|---------:|
|                                              |     |   |               |     | -Audited |          |
| Payroll and payable tax payable              |     | $ |         3,420 |     | $        |   50,554 |
| Interest payable                             |     |   |       147,711 |     |          |  267,945 |
| Professional fee payable                     |     |   |       621,489 |     |          |   59,473 |
| Accrued warranty expenses                    |     |   |       133,279 |     |          |   48,361 |
| Excise tax payable*                          |     |   |       556,620 |     |          |        — |
| Others                                       |     |   |        18,800 |     |          |   41,892 |
| Total other payables and accrued liabilities |     | $ |     1,481,319 |     | $        |  468,225 |

____________

*

Note 11 — Contract liabilities

Contract liabilities consist of customer deposits, which is recorded on the consolidated balance sheets when the Company has received consideration, or has the right to receive consideration, in advance of transferring the performance obligations under the contract to the customer.

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