Company: FOXX
Filing Date: 2025-01-10
Form Type: S-1
Source: 0001213900-25-002199
Chunk: 202

Company: Foxx Development Holdings Inc.
Filing Date: 2025-01-10
Form: S-1
Chunk 202
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826 |   |
| 2028                                 |     |        |  27,984 |   |
| 2029                                 |     |        |  20,608 |   |
| Total long-term debt payment         |     |        | 114,981 |   |
| Current portion of long-term debt    |     |        | (19,539 | ) |
| Long-term debt – non-current portion |     | $      |  95,442 |   |

Interest expense for years ended June 30, 2024 and 2023 for the above loan amounted to $ and $, respectively.

Note 15 — Shareholders’ deficit Pursuant to the Company’s certificate of incorporation, the Company is authorized to issue 1,000,000shares of Common Stock with a par value of $ 0.001per share. On February 27, 2024, the Company increased its authorized shares to 2,000,000shares. As of June 30, 2024 and 2023, there are 1,000,000shares of Common Stock outstanding. Note 16 — Concentrations of risks (a) Major customers For the year ended June 30, 2024, three customers, customer A, customer B and customer C, which are the third parties of the Company, accounted for 41%, 29% and 16% of the Company’s total revenues. For the year ended June 30, 2023, one customer, which is a third party of the Company, accounted for 100% of the Company’s total revenues. (b) Major suppliers For the year ended June 30, 2024, three suppliers, supplier A, supplier B and supplier C, which is a third party of the Company, accounted for 49%, 31% and 18% of the Company’s total purchases. For the year ended June 30, 2023, one supplier, which is a third party of the Company, accounted for 100% of the Company’s total purchases. (c) Geographic areas For the years ended June 30, 2024 and 2023, all of the Company’s long -livedassets are located in the United States and all of the Company’s revenues are derived solely from the United States, accordingly, no geographical information is presented. Note 17 — Lease The Company has elected, as an accounting policy, to not apply ASC 842 for short -termleases. Below are