Company: FOXX
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-043597
Chunk: 7

Company: Foxx Development Holdings Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 1
Chunk 7
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4 

    (Unaudited)  
    (Unaudited) 
  
    CASH FLOWS FROM OPERATING ACTIVITIES: 

    Net loss 
    $(4,927,154) 
    $(2,074,011)
  
    Adjustments to reconcile net loss to net cash used in operating activities: 

    Depreciation 
     35,951  
     29,713 
  
    Interest expense from convertible promissory notes 
     140,740  
     - 
  
    Amortization of operating right of use assets 
     160,521  
     20,825 
  
    Provision for credit losses 
     464,988  
     - 
  
    Stock-based compensation expenses 
     527,542  
     - 
  
    Change in fair value of earnout liabilities 
     (5,687,989) 
     - 
  
    Loss on sale of equipment 
     3,400  
     - 
  
    Change in operating assets and liabilities: 

    Accounts receivable 
     (7,359,795) 
     (174,950)
  
    Inventories 
     (14,893,859) 
     (662,227)
  
    Contract assets 
     16,259  

    Prepaid expenses and other current assets 
     (1,049,412) 
     (1,688,804)
  
    Amount due from a related party 
     140  
     - 
  
    Security deposits 
     (1,123,807) 
     (25,030)
  
    Accounts payable 
     27,958,120  
     - 
  
    Contract liabilities 
     (438,378) 
     89,723 
  
    Taxes payable 
     (299,585) 
     (15,842)
  
    Other payables and accrued liabilities 
     1,974,134  
     288,326 
  
    Other payable - related party 
     (32,007) 
     (19,416)
  
    Operating lease liabilities 
     (123,471) 
     (19,019)
  
    Net cash used in operating activities 
     (4,653,662) 
     (4,250,712)

    CASH FLOWS