Company: FOXX
Filing Date: 2025-11-18
Form Type: 10-Q
Source: 0001213900-25-112192
Chunk: 4

Company: Foxx Development Holdings Inc.
Filing Date: 2025-11-18
Form: 10-Q
Item: Item 1
Chunk 4
---
  
    Total 
  
    BALANCE, June 30, 2024 
     3,303,333  
    $330  
    $7,024,162  
    $(11,026,928) 
    $-  
    $(4,002,436)
  
    Conversion of convertible promissory notes into common stock upon completion of reverse recapitalization 
     1,696,668  
     170  
     15,408,515  
     -  
     -  
     15,408,685 
  
    Issuance of common stock upon completion of reverse recapitalization 
     2,270,096  
     227  
     (2,100,865) 
     -  
     -  
     (2,100,638)
  
    Earnout liabilities 
     -  
     -  
     (5,688,007) 
     -  
     -  
     (5,688,007)
  
    Transaction costs 
     -  
     -  
     (893,577) 
     -  
     -  
     (893,577)
  
    Net loss 
     -  
     -  
     -  
     (2,266,789) 
     -  
     (2,266,789)
  
    BALANCE, September 30, 2024 (Unaudited) 
     7,270,097  
    $727  
    $13,750,228  
    $(13,293,717) 
    $               -  
    $457,238 

*Giving retroactive effect to reverse recapitalization effected
on September 26, 2024 to reflect exchange ratio of approximately 3.3033 as described in Note 4.

The accompanying notes are an integral part of
these unaudited condensed consolidated financial statements.

3

FOXX DEVELOPMENT HOLDINGS INC.

CONDENSED CONSOLIDATED STATEMENTS
OF CASH FLOWS

    For the Three Months Ended 

    September 30,  
    September 30, 

    2025  
    2024 

    (Unaudited)  
    (Unaudited) 
  
    C