Company: FOXX
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-043597
Chunk: 347

Company: Foxx Development Holdings Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part II, Item 1
Chunk 347
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500 service award to Plaintiff) to Plaintiff’s counsel to resolve the anticipated
application by Plaintiff’s counsel for an award of attorneys’ fees and reimbursement of expenses. In connection with the March
13, 2025 stipulated order closing the case, the Court ordered that the Company provide this notice. The Court has not and will not pass
judgment on the amount of the Mootness Fee.

Item 1a. Risk Factors

For a discussion of our risk
factors, see Part I, Item 1A. “Risk Factors” of the 2024 10-K, as well as the Company’s final prospectus (File No. 333-284186),
dated January 23, 2025 (the “Warrant Share Issuance Prospectus”), filed with the SEC in connection for the issuance of up
to 12,145,917 shares of common stock issuable upon exercises of certain warrants of the Company. The risks and uncertainties that we face
are not limited to those set forth in the 10-K and the Warrant Share Issuance Prospectus. Additional risks and uncertainties not presently
known to us or that we currently believe to be immaterial may also adversely affect our business and the trading price of our securities.
Except for the additional risk factor set forth below, there have been no material changes to the Company’s risk factors since the
filing of the 2024 10-K and the Warrant Share Issuance Prospectus.

Changes to United States tariff and import/export regulations
may have an adverse effect on our business, financial condition and results of operations.

On April 2, 2025, President
Trump signed the Executive Order, Regulating Imports with a Reciprocal Tariff to Rectify Trade Practices that Contribute to Large and
Persistent Annual United States Goods Trade Deficits (“the April 2 EO”), to take action based on the results of certain investigations
related to the causes of the U.S.’s large and persistent annual trade deficits in goods. Subsequent to the April 2 EO, there have
been additional Executive Orders that have, among other actions, effectively suspended the enforcement of certain country-specific tariffs
until July 9, 2025, for all trading partners except for the People’s Republic of China (“PRC”), for which a separate
Executive Order was issued on May 12, 2025 that, among other things, lowered reciprocal tariff rates for PRC imports from 125% to 10%
for