Company: FOXX
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001213900-25-006111
Chunk: 86

Company: Foxx Development Holdings Inc.
Filing Date: 2025-01-24
Form: 424B3
Chunk 86
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          |   |     |  Change 
     (%) |    |
|:----------------------------|:----|:-----------------------------|:---------|:--|:----|:-----|:--------|:--|:----|:-------|---------:|:--|:----|--------:|:---|
| Interest expense            |     | $                            | (278,328 | ) |     | $    | (9,277  | ) |     | $      | (269,051 | ) |     | 2,900.2 | %  |
| Other income (expense), net |     |                              | (4,016   | ) |     |      | (4,522  | ) |     |        |     (506 | ) |     |   (11.2 | )% |
| Total other expense, net    |     | $                            | (282,344 | ) |     | $    | (13,799 | ) |     | $      |  268,545 |   |     | 1,946.1 | %  |

Total other expense, net increased by approximately $0.3 million, or 1,946.1%, to approximately $0.3 million for the year ended June 30, 2024, from approximately $14,000 for the year ended June 30, 2023. The increase was primarily due to interest expenses incurred related to three convertible promissory notes issued in June 2023, November 2023, and March 2024. Provision for income taxes The provision for income taxes increased by approximately $6,000 from approximately $14,000 for the year ended June 30, 2023 to approximately $20,000 for the year ended June 30, 2024. During the year ended June 30, 2024, we had provision for income taxes of approximately $20,000 resulted from timing difference between calendar

50

year on income tax return in 2022 and fiscal year of operation of June 30, for which those operating losses incurred from January 2023 to June 2023 cannot be carried back. At the same time, we had provided 100% allowance on our deferred tax assets on net operating losses for the year ended June 30, 2024. During the year ended June 30, 2023, we had operating income and resulted in provision for income taxes of approximately $14,000. Net (Loss