Company: FOXX
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014221
Chunk: 47

Company: Foxx Development Holdings Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Item 1
Chunk 47
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    Basic and diluted income (loss) per share 
    $0.20  
    $(0.19) 
    $(0.16) 
    $(0.36)

  * There were no shares that have a dilutive effect for the three and six months ended December 31, 2024 and 2023. 

 The following table outlines
dilutive common share equivalents outstanding, which are excluded in the above diluted net income (loss) per share calculation, as the
effect of their inclusion would be anti-dilutive or the share equivalents were contingently issuable as of each period presented:

    For the Three Months Ended 
    December 31,  
    For the Six Months Ended 
    December 31, 

    2024  
    2023  
    2024  
    2023 

    (Unaudited)  
    (Unaudited)  
    (Unaudited)  
    (Unaudited) 
  
    Earnout Shares* 
     2,100,000  
     -  
     2,100,000  
     - 
  
    Warrants ** 
     12,145,923  
     -  
     12,145,923  
     - 
  
    RSUs** 
     707,860  
     -  
     707,860  
     - 
  
    Common stock underlying from the convertible notes ** 
     -  
     450,250  
     -  
     450,250 
  
    Total 
     14,953,783  
     450,250  
     14,953,783  
     450,250 

  * As described in Note 4 - Reverse recapitalization, the Earnout Shares that are contingently issuable in connection with the Business Combination are subject to vesting based on the Company’s financial performance during the earnout period. The Earnout Shares are excluded from the calculation of basic and diluted weighted-average number of common shares outstanding until vested. 

  ** The Company’s outstanding warrants, RSUs, and common stock that is potentially convertible from the convertible notes were excluded from the computation of diluted EPS because it has anti-dilutive effect. 

Note 24 — Subsequent events

The Company evaluated all
events and transactions that occurred after December