Company: FOXX
Filing Date: 2025-01-10
Form Type: S-1
Source: 0001213900-25-002199
Chunk: 91

Company: Foxx Development Holdings Inc.
Filing Date: 2025-01-10
Form: S-1
Chunk 91
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 of office equipment and furniture. Net cash used in investing activities was approximately $0.1million for the year ended June30, 2023, attributable to purchase of an automobile for our business uses. Financing activities Net cash provided by financing activities was approximately $28.3 million for the three months ended September 30, 2024, mainly attributable to approximately $19.7 million proceeds from the reverse recapitalization and $9.0 million proceeds from issuance of convertible promissory notes, offset by the repayment of short -termloans of approximately $0.3 million and approximately $0.1 million in payments of deferred transaction costs. Net cash used in financing activities was approximately $0.2 million for the three months ended September 30, 2023, primarily attributable to approximately $0.1 million in payments of deferred transaction costs and approximately $0.1 million in the repayment of related party loans. Net cash provided by financing activities was approximately $3.5million for the year ended June30, 2024, mainly attributable to $4.0million proceeds from issuance of convertible promissory notes to New Bay in November 2023 and March 2024, offset by approximately $0.4million in payments of deferred offering costs, the repayment of related party loans of approximately $0.1million, and the principal payments of long -termloan of approximately $16,000. Net cash provided by financing activities was approximately $1.8million for the year ended June30, 2023, primarily attributable to $2.0million proceeds from convertible promissory note offset by the repayment of related party loans of approximately 0.2million. Off-Balance Sheet Arrangements As of September 30, 2024, we have no significant off -balancesheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in our financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to our members. Critical Accounting Estimate The unaudited condensed consolidated financial statements and accompanying notes have been prepared in accordance with U.S. GAAP. The preparation of these unaudited condensed consolidated financial statements and accompanying notes requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. Estimates are based on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the