Company: FOXX
Filing Date: 2025-10-15
Form Type: 10-K
Source: 0001213900-25-098953
Chunk: 460

Company: Foxx Development Holdings Inc.
Filing Date: 2025-10-15
Form: 10-K
Item: Item 1C
Chunk 460
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 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  
     251,894 
  
    Inventories 
     12,686,739  
     1,768,072 
  
    Contract
    assets 
     454,842  
     1,682,289 
  
    Prepaid expenses and other receivables, net of allowance for credit losses of $317,282 and $0 as of June 30, 2025 and 2024, respectively 
     1,837,812  
     44,116 
  
    Prepaid
    expenses - related party 
     8,000  
     - 
  
    Due
    from a related party 
     -  
     140 
  
    Total
    Current Assets 
     23,649,638  
     4,333,959 

    PROPERTY
    AND EQUIPMENT, NET 
     131,722  
     142,619 

    NON-CURRENT ASSETS 

    Operating
    right-of-use assets 
     1,063,438  
     405,758 
  
    Deferred
    transaction costs 
     -  
     462,177 
  
    Security
    deposits 
     1,155,016  
     29,909 
  
    Total
    Non-current Assets 
     2,218,454  
     897,844 

    Total
    Assets