Company: FOXX
Filing Date: 2025-11-18
Form Type: 10-Q
Source: 0001213900-25-112192
Chunk: 115

Company: Foxx Development Holdings Inc.
Filing Date: 2025-11-18
Form: 10-Q
Item: Item 8
Chunk 115
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10%+ shareholder   Research and development fees   $ -     $ 18,792    Acri Capital Sponsor LLC   the Company’s 10%+ shareholder    Unconverted working capital loan balance in ACAC     245,509       245,509    Swiftfulfill Warehouse LLC (“Swiftfulfill”) (2)   Owned by an immediate family member of the Company’s 10%+ shareholder   Consulting fees and expenses paid on behalf of the Company     -       8,566    “Joy” Yi Hua   Chairwoman, Chief Financial Officer and Director of the Company   Expenses paid on behalf of the Company     33,621       50    Total           $ 279,130     $ 272,917   

  (1) On September 1, 2022, the Company entered into an agreement with Wuhan Haoxun for the research and development project. The project was completed during the year ended June 30, 2025.       (2) On October 1, 2024, the Company entered into a consulting agreement to receive consulting services provided by Swiftfulfill, a consulting company which is owned by an immediate family member of a 10%+ shareholder. 

Related party transactions

Consulting expenses

  Name of Related Party  Relationship  For the Three Months Ended September 30,  2025   For the Three Months Ended September 30,  2024         (Unaudited)   (Unaudited)   Azure(1)  Owned by an immediate family member of the Company’s 10%+ shareholder  $24,600   $141,000   Swiftfulfill(2)  Owned by an immediate family member of the Company’s 10%+ shareholder   21,000    -   Total     $45,600    141,000  

  (1) On September 1, 2022, the Company entered into a consulting agreement to receive consulting services provided by Azure, a consulting company which is owned by an immediate family member of a 10%+ shareholder. 

  (2) On October 1, 2024, the Company entered into a consulting agreement to receive consulting services provided by Swiftfulfill, a consulting company which is owned by an immediate family member of a 10%+ shareholder. 

18

Note 13 — Convertible prom