Company: FOXX
Filing Date: 2025-10-15
Form Type: 10-K
Source: 0001213900-25-098953
Chunk: 594

Company: Foxx Development Holdings Inc.
Filing Date: 2025-10-15
Form: 10-K
Item: Item 2
Chunk 594
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 do not include any adjustments that might
result from the outcome of this uncertainty.

Basis for Opinion

These financial statements are the responsibility
of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audit. We
are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are
required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and
regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audit in accordance with the
standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged
to perform, an audit of its internal control over financial reporting. As part of our audit we are required to obtain an understanding
of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company's internal
control over financial reporting. Accordingly, we express no such opinion.

Our audit included performing procedures to assess
the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond
to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating
the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.

/S/ MARCUM LLP

MARCUM LLP

We have served as the Company’s auditor
from 2023 through 2025.

San Jose, CA

October 24, 2024

F-3

FOXX
DEVELOPMENT HOLDINGS INC.

CONSOLIDATED
BALANCE SHEETS

    June 30,  
    June 30, 

    2025  
    2024 

    ASSETS 

    CURRENT ASSETS 

    Cash 
    $1,875,453  
    $587,448 
  
    Accounts receivable, net of allowance for credit losses of $595,907 and $0 as of June 30, 2025 and 2024, respectively 
     6,786,792  
     251,