Company: FOXX
Filing Date: 2025-10-15
Form Type: 10-K
Source: 0001213900-25-098953
Chunk: 54

Company: Foxx Development Holdings Inc.
Filing Date: 2025-10-15
Form: 10-K
Item: Item 1
Chunk 54
---
 Additional
    paid-in capital 
     14,686,705  
     7,024,162 
  
    Accumulated
    deficit 
     (20,047,064) 
     (11,026,928)
  
    Accumulated
    other comprehensive loss 
     (5,002) 
     - 
  
    Total
    Shareholders' Deficit 
     (5,364,683) 
     (4,002,436)

    Total
    Liabilities and Shareholders' Deficit 
    $25,999,814  
    $5,374,422 

*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 consolidated financial statements.

F-4

FOXX
DEVELOPMENT HOLDINGS INC.

 CONSOLIDATED
STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

    For
    the Years Ended 

    June
    30,  
    June
    30, 

    2025  
    2024 

    REVENUES,
    NET 
    $65,919,166  
    $3,228,559 
  
    COST OF GOODS
    SOLD 
     61,144,561  
     3,112,616 
  
    GROSS PROFIT 
     4,774,605  
     115,943 

    OPERATING EXPENSES: 

    Selling
    expenses 
     5,183,464  
     1,076,761 
  
    General
    and administrative expenses 
     7,068,426  
     2,076,484 
  
    Research
    and development - related party 
     136,752  
     91,168 
  
    Research
    and development 
     2,083,897  
     - 
  
    Total
    Operating Expenses 
     14,472,539  
     3,244,413 

    LOSS FROM OPERATIONS 
     (9,697,934) 
     (3,128,470)

    OTHER INCOME
    (EXPENSE) 

    Interest
    expense 
     (4,959,055