Company: FOXX
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-043597
Chunk: 2

Company: Foxx Development Holdings Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 1
Chunk 2
---
 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.

1

FOXX
DEVELOPMENT HOLDINGS INC.

CONDENSED
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

    For the Three Months Ended  
    For the Nine Months Ended 

    March 31,  
    March 31,  
    March 31,  
    March 31, 

    2025  
    2024  
    2025  
    2024 

    (Unaudited)  
    (Unaudited)  
    (Unaudited)  
    (Unaudited) 

    REVENUES, NET 
    $11,392,078  
    $513,836  
    $51,984,361  
    $1,346,663 
  
    COST OF GOODS SOLD 
     10,728,765  
     553,518  
     48,732,206  
     1,286,762 
  
    GROSS PROFIT (LOSS) 
     663,313  
     (39,682) 
     3,252,155  
     59,901 

    OPERATING EXPENSES: 

    Selling expenses 
     1,551,369  
     155,219  
     4,393,150  
     499,802 
  
    General and administrative expenses 
     1,823,287  
     552,124  
     4,826,704  
     1,401,915 
  
    Research and development - related party 
     22,792  
     45,584  
     91,168  
     45,584 
  
    Research and development 
     826,532  
     -  
     1,550,833  
     - 
  
    Total Operating Expenses 
     4,223,980  
     752,927  
     10,861,855  
     1,947,301 

    LOSS FROM OPERATIONS 
     (3,560,667) 
     (792