Company: FOXX
Filing Date: 2025-01-10
Form Type: S-1
Source: 0001213900-25-002199
Chunk: 168

Company: Foxx Development Holdings Inc.
Filing Date: 2025-01-10
Form: S-1
Chunk 168
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 |       141,000 |     | $          |        75,000 |

____________

(1)On September 1, 2022, the Company entered into a consulting agreement to receive consulting services provided by a consulting company which is owned by the director of the Company.

F-20

FOXX DEVELOPMENT HOLDINGS INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

Note 13 — Short-term loans

|                       |     | September 30, 
 2024          |   |     | June 30, 
 2024     |         |
|:----------------------|:----|:--------------|:--|:----|:---------|--------:|
|                       |     |               |   |     | -Audited |         |
| Lender A(1)           |     | $             | — |     | $        | 261,208 |
| Lender B(2)           |     |               | — |     |          |  30,000 |
| Total short-term loan |     | $             | — |     | $        | 291,208 |

____________

(1)

(2)

Note 14 — Convertible promissory notes On June 21, 2023, Old Foxx issued a convertible promissory note (the “Note 1”) to Investor A, a Hong Kong registered entity, in the amount of $ 2,000,000at 7% per annum. The maturity date for the note is the earlier of the 12 -monthanniversary of the issuance date and the date when Old Foxx redeems the note, or the date of the initial closing of the initial public offering (“IPO”) of Old Foxx. On November 21, 2023, Old Foxx issued a second convertible promissory note (“the Note 2”) to Investor A in the amount of $ 2,000,000at 7% per annum. The maturity and other terms were the same to Note 1. On March 15, 2024, Old Foxx and the Investor entered into an Amendment to the Convertible Note Agreement to the Note 1 and Note 2 and agreed that all accrued interest shall become due and payable in shares of common stock of Old Foxx, at a price of $ 30.00per share at the time that the Old Foxx completes the Business Combination. On March 15,