Company: FOXX
Filing Date: 2025-10-15
Form Type: 10-K
Source: 0001213900-25-098953
Chunk: 862

Company: Foxx Development Holdings Inc.
Filing Date: 2025-10-15
Form: 10-K
Item: Item 4
Chunk 862
---
 Note 3, present fairly, in all material respects, the financial position of the Company as of
June 30, 2024, and the results of its operations and its cash flows for the year then ended, in conformity with accounting
principles generally accepted in the United States of America.

We were not engaged to audit, review, or
apply any procedures to the adjustments to retrospectively apply the changes in accounting described in Note 3 and, accordingly, we
do not express an opinion or any other form of assurance about whether such adjustments are appropriate and have been properly
applied. Those procedures were audited by CBIZ CPAs P.C..

Explanatory Paragraph – Going Concern

The accompanying consolidated financial statements
have been prepared assuming that the Company will continue as a going concern. As more fully described in Note 2, the Company has a significant
working capital deficiency, has incurred significant losses and needs to raise additional funds to meet its obligations and sustain its
operations. These conditions raise substantial doubt about the Company's ability to continue as a going concern. Management's plans in
regard to these matters are also described in Note 2. The consolidated financial statements do not include any adjustments that might
result from the outcome of this uncertainty.

Basis for Opinion

These financial statements are the responsibility
of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audit. We
are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are
required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and
regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audit in accordance with the
standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged
to perform, an audit of its internal control over financial reporting. As part of our audit we are required to obtain an understanding
of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company's internal
control over financial reporting. Accordingly, we express no such opinion.

Our audit included performing procedures to assess
the risks of material misstatement of the financial statements, whether due to error or fraud, and