Company: FOXX
Filing Date: 2025-10-15
Form Type: 10-K
Source: 0001213900-25-098953
Chunk: 1505

Company: Foxx Development Holdings Inc.
Filing Date: 2025-10-15
Form: 10-K
Item: Item 8
Chunk 1505
---
 balance 
    $317,282  
    $- 

Note 9
— Property and equipment, net

As
of June 30, 2025 and 2024, property and equipment, net consist of the following:

    June
    30,  2025  
    June 30,
     2024 

    Computer
    and office equipment 
    $12,580  
    $9,942 
  
    Equipment 
     30,697  
     - 
  
    Furniture
    and fixtures 
     3,432  
     3,432 
  
    Vehicles 
     191,091  
     191,091 
  
    Subtotal 
     237,800  
     204,465 
  
    Less:
    accumulated depreciation 
     (106,078) 
     (61,846)
  
    Total
    property and equipment, net 
    $131,722  
    $142,619 

Depreciation
expense for the years ended June 30, 2025 and 2024 amounted to $47,732 and $39,783, respectively.

F-21

Note 10
— Other payables and accrued liabilities

As
of June 30, 2025 and 2024, other payables and accrued liabilities consist of the following:

    June
    30,  2025  
    June 30,
     2024 

    Payroll
    and payable tax payable 
    $174,684  
    $50,554 
  
    Interest
    payable* 
     2,309,106  
     267,945 
  
    Professional
    fee payable 
     168,186  
     59,473 
  
    Accrued
    warranty expenses 
     328,438  
     48,361 
  
    Excise
    tax payable** 
     556,620  
     - 
  
    Others 
     33,925  
     41,892 
  
    Total
    other payables and accrued liabilities 
    $3,570,959  
    $468,225 

*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