Company: FOXX
Filing Date: 2025-11-18
Form Type: 10-Q
Source: 0001213900-25-112192
Chunk: 113

Company: Foxx Development Holdings Inc.
Filing Date: 2025-11-18
Form: 10-Q
Item: Item 8
Chunk 113
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Note 9 — Property and equipment,
net

As of September 30, 2025
and June 30, 2025, property and equipment, net consist of the following:

    September 30,  2025  
    June 30,  2025 

    Computer and office equipment 
    $11,808  
    $12,580 
  
    Equipment 
     30,697  
     30,697 
  
    Furniture and fixtures 
     3,432  
     3,432 
  
    Vehicles 
     191,091  
     191,091 
  
    Subtotal 
     237,028  
     237,800 
  
    Less: accumulated depreciation 
     (117,640) 
     (106,078)
  
    Total property and equipment, net 
    $119,388  
    $131,722 

Depreciation expense for
the three months ended September 30, 2025 and 2024 amounted to $11,742 and $11,281, respectively.

16

Note 10 — Other payables and
accrued liabilities

As of September 30, 2025
and June 30, 2025, other payables and accrued liabilities consist of the following:

    September 30,  2025  
    June 30,  2025 

    Payroll and payable tax payable 
    $108,916  
    $174,684 
  
    Interest payable* 
     2,498,886  
     2,309,106 
  
    Professional fee payable 
     316,697  
     168,186 
  
    Accrued warranty expenses 
     389,134  
     328,438 
  
    Excise tax payable** 
     556,620  
     556,620 
  
    Others 
     33,390  
     33,925 
  
    Total other payables and accrued liabilities 
    $3,903,643  
    $3,570,959 

  * On April 9, 2024, the Company and a vendor entered into a purchase and financing agreement, pursuant to which the Company is subject to interest of 1.5% per month, or 0