Company: FOXX
Filing Date: 2025-10-15
Form Type: 10-K
Source: 0001213900-25-098953
Chunk: 1511

Company: Foxx Development Holdings Inc.
Filing Date: 2025-10-15
Form: 10-K
Item: Item 8
Chunk 1511
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 30, 
    Amount 
  
    2026 
    $23,743 
  
    2027 
     24,826 
  
    2028 
     27,984 
  
    Thereafter 
     20,608 
  
    Total
    long-term debt payment 
     97,161 
  
    Current
    portion of long-term debt 
     (23,743)
  
    Long-term
    debt – non-current portion 
    $73,418 

Interest
expense for the years ended June 30, 2025 and 2024 for the above loan amounted to $12,784 and $14,989, respectively.

Note 16
— Shareholders’ deficit

Common
stock 

As
of June 30, 2025 and 2024, the Company has 50,000,000 authorized shares of common stock, par value $0.0001 per share. As of June
30, 2025 and 2024, there are 6,780,597 and 3,303,333 shares of common stock outstanding.

Issuance
of common stock upon completion of the Reverse Recapitalization 

On
September 26, 2024, upon the consummation of the business combination, the Company issued an aggregated total of 2,270,096 common stock
to ACAC shareholders and its underwriter.

The
following table presents the number of the Company’s common stock issued upon completion of the Reverse Recapitalization:

    Shares
    of
    Common 

    Stock 
  
    ACAC’s common
    stock outstanding prior to Reverse Recapitalization 
     3,971,634 
  
    Less: redemption of ACAC’s
    common stock 
     (1,744,663)
  
    Common
    stock issued to underwriter 
     43,125 
  
    Total
    common stock issued upon completion of the Reverse Recapitalization 
     2,270,096 

Conversion
of convertible promissory notes into common stock

On
September 26, 2024, upon the consummation of the business combination, the Company issued an aggregated total of 1,696,668 common stock
to the Old Foxx convertible notes holders (See Note 14).

Equity
incentive plan  

On
September 24, 2024, pursuant to the Equity In