Company: FOXX
Filing Date: 2025-10-15
Form Type: 10-K
Source: 0001213900-25-098953
Chunk: 908

Company: Foxx Development Holdings Inc.
Filing Date: 2025-10-15
Form: 10-K
Item: Item 4
Chunk 908
---
 Liabilities 
  
    Balance as of June 30, 2024 
    $    - 
  
    Issuances – September 26,
    2024 
    5,688,007 
  
    Change
    in fair value 
    (5,688,007)
  
    Balance as of June 30, 2025 
    $- 

Note 18
— Concentrations of risks

(a) Major
customers

For
the year ended June 30, 2025, three customers, customer A, customer B and customer C, which are the third parties of the Company, accounted
for 27%, 25% and 25%, respectively, of the Company’s total revenues.

For
the year ended June 30, 2024, three customers, customer D, customer A and customer E, which are the third parties of the Company, accounted
for 41%, 29% and 16% of the Company’s total revenues.

(b) Major
suppliers

For
the year ended June 30, 2025, one supplier, supplier A, which is a third party of the Company, accounted for 93% of the Company’s
total purchases. 

For
the year ended June 30, 2024, three suppliers, supplier A, supplier B and supplier C, which is a third party of the Company, accounted
for 49%, 31% and 18% of the Company’s total purchases.

(c) Geographic
areas

For
the years ended June 30, 2025 and 2024, all of the Company’s long-lived assets are located in the United States and all of
the Company’s revenues are derived solely from the United States, accordingly, no geographical information is presented.

Note 19
— Leases

Short-term
leases  

The
Company rented a mailbox for $450 per month from November 1, 2022 to October 31, 2024. The Company terminated this lease on
August 5, 2023.

On
August 1, 2023, the Company entered a twelve-month lease agreement to rent a general office and storage space for its purchased
inventory for a monthly rental fee of $100. The Company renewed the lease for another twelve months at a monthly rental fee of $200.

On
August 14, 2023, the Company entered a six-month