Company: FOXX
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-043597
Chunk: 4

Company: Foxx Development Holdings Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 1
Chunk 4
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0.63)
  
    Diluted 
    $(0.58) 
    $(0.27) 
    $(0.83) 
    $(0.63)

*Giving retroactive effect to reverse recapitalization effected
on September 26, 2024 to reflect exchange ratio of approximately 3.3033 as described in Note 4.

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

2

FOXX
DEVELOPMENT HOLDINGS INC.

CONDENSED
CONSOLIDATED STATEMENTS OF CHANGE IN SHAREHOLDERS’ EQUITY (DEFICIT)

    For the Nine Months Ended March 31, 2025 

    Additional  
       
    Accumulated 
other  

    Common stock  
    paid-in  
    Accumulated  
    comprehensive  

    Shares*  
    Amount  
    capital  
    deficit  
    loss  
    Total 
  
    BALANCE, June 30, 2024 
     3,303,333  
    $330  
    $7,024,162  
    $(11,026,928) 
    $     -  
    $(4,002,436)
  
    Conversion of convertible promissory notes into common stock upon completion of reverse recapitalization 
     1,696,668  
     170  
     15,408,515  
     -  
     -  
     15,408,685 
  
    Issuance of common stock upon completion of reverse recapitalization 
     2,270,096  
     227  
     (2,100,865) 
     -  
     -  
     (2,100,638)
  
    Earnout liabilities 
     -  
     -  
     (5,688,007) 
     -  
     -  
     (5,688,007)
  
    Transaction costs 
     -  
     -  
     (893,577) 
     -  
        
     (893,577)
  
    Net loss 
     -  
     -  
     -  
     (2,266,789) 
     -  
     (2,266,789)
  
    BALANCE,