Company: FOXX
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-043597
Chunk: 139

Company: Foxx Development Holdings Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 8
Chunk 139
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 — Prepaid expenses and
other current assets

As of March 31, 2025 and
June 30, 2024, prepaid expenses and other current assets consist of the following:

    March 31,  2025  
    June 30,  2024 

    (Audited) 
  
    Other receivables 
    $25,674  
    $10,881 
  
    Prepaid rent 
     355,677  
     - 
  
    Prepaid research and development fees 
     251,071  
     - 
  
    Prepaid insurance 
     311,761  
     - 
  
    Prepaid professional fee 
     130,558  

    Other prepaid expenses 
     100,694  
     33,235 
  
    Total prepaid expenses and other current assets 
    $1,175,435  
    $44,116 

Note 9 — Property and equipment,
net

As of March 31, 2025 and
June 30, 2024, property and equipment, net consist of the following:

    March 31,  2025  
    June 30,  2024 

    (Audited) 
  
    Computer and office equipment 
    $12,580  
    $9,942 
  
    Equipment 
     30,697  
     - 
  
    Furniture and fixtures 
     3,432  
     3,432 
  
    Vehicles 
     191,091  
     191,091 
  
    Subtotal 
     237,800  
     204,465 
  
    Less: accumulated depreciation 
     (94,297) 
     (61,846)
  
    Total property and equipment, net 
    $143,503  
    $142,619 

Depreciation expense for
the three months ended March 31, 2025 and 2024 amounted to $12,364 and $10,030, respectively. Depreciation expense for the nine months
ended March 31, 2025 and 2024 amounted to $35,951 and $29,713, respectively.

16

Note 10 — Other payables and
accrued liabilities

As of March 31, 2025 and
June 30, 2024