Company: FOXX
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014221
Chunk: 6

Company: Foxx Development Holdings Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Item 1
Chunk 6
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187,441)
  
    Adjustments to reconcile net loss to net cash used in operating activities: 

    Depreciation 
     23,587  
     19,683 
  
    Interest expense from convertible promissory notes 
     140,740  
     - 
  
    Amortization of operating right of use assets 
     107,224  
     10,355 
  
    Provision for credit losses 
     63,000  
     - 
  
    Stock-based compensation expenses 
     200,954  
     - 
  
    Change in fair value of earnout liabilities 
     (4,655,722) 
     - 
  
    Change in operating assets and liabilities: 

    Accounts receivable 
     (7,454,174) 
     (175,000)
  
    Inventories 
     (13,997,419) 
     (130,364)
  
    Contract assets 
     79,023  
     (1,736,859)
  
    Prepaid expenses and other current assets 
     (892,774) 
     (1,709)
  
    Amount due from a related party 
     140  
     - 
  
    Security deposits 
     (573,807) 
     (28,030)
  
    Accounts payable 
     22,705,175  
     - 
  
    Contract liabilities 
     134,707  
     (27)
  
    Taxes payable 
     (253,932) 
     - 
  
    Other payables and accrued liabilities 
     873,182  
     152,890 
  
    Other payable - related party 
     (54,799) 
     (25,000)
  
    Operating lease liabilities 
     (77,694) 
     (9,453)
  
    Net cash used in operating activities 
     (4,475,232) 
     (3,110,955)

    CASH FLOWS FROM INVESTING ACTIVITIES: 

    Purchases of property and equipment 
     (68,336) 
     (6,016)
  
    Net cash used in investing activities 
     (68,336) 
     (6,016)

    CASH FLOWS FROM FINANCING ACTIVITIES: