Foxx Development Holdings Inc
For the period ended Sep 30, 2024. Filed Nov 19, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 19, 2024
FOXX$1.600.0%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Balance Sheets
| September 30, · June 30, | |||
|---|---|---|---|
| 2024 · 2024 | |||
| (Unaudited) · (Audited) | |||
| ASSETS | |||
| CURRENT ASSETS | |||
| Cash | $9,180,356 | $587,448 | |
| Restricted cash | 19,411,645 | - | |
| Accounts receivable | 12,371,365 | 251,894 | |
| Inventories | 4,540,549 | 1,768,072 | |
| Contract assets | 1,713,430 | 1,682,289 | |
| Prepaid expenses and other current assets | 336,958 | 44,116 | |
| Amount due from related party | - | 140 | |
| Total Current Assets | 47,554,303 | 4,333,959 | |
| PROPERTY AND EQUIPMENT, NET | 166,338 | 142,619 | |
| NON-CURRENT ASSETS | |||
| Operating right-of-use assets | 1,223,334 | 405,758 | |
| Deferred transaction costs | - | 462,177 | |
| Security deposits | 603,716 | 29,909 | |
| Total Non-current Assets | 1,827,050 | 897,844 | |
| Total Assets | $49,547,691 | $5,374,422 | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY (DEFICIT) | |||
| CURRENT LIABILITIES | |||
| Accounts payable | $19,285,926 | $1,396,860 | |
| Other payables and accrued liabilities | 1,481,319 | 468,225 | |
| Other payable - related party | 346,539 | 51,168 | |
| Payables on shares redemption | 20,499,790 | - | |
| Contract liabilities | 143,600 | 649,450 | |
| Income taxes payable | 253,932 | - | |
| Short-term loans | - | 291,208 | |
| Current maturity of long-term loan | 20,132 | 19,539 | |
| Operating lease liabilities - current | 180,451 | 72,531 | |
| Convertible promissory notes | - | 6,000,000 | |
| Earnout liabilities | 5,737,868 | - | |
| Total Current Liabilities | 47,949,557 | 8,948,981 | |
| NON-CURRENT LIABILITIES | |||
| Operating lease liabilities - non-current | 1,050,715 | 332,435 | |
| Long-term loan - non-current | 90,181 | 95,442 | |
| Total Non-current Liabilities | 1,140,896 | 427,877 | |
| Total Liabilities | 49,090,453 | 9,376,858 | |
| COMMITMENTS AND CONTINGENCIES (See Note 18) | |||
| SHAREHOLDERS’ EQUITY (DEFICIT) | |||
| Common stock, $0.0001 par value, 50,000,000 shares and 6,606,667 shares authorized as of September 30, 2024 and June 30, 2024, respectively; | |||
| 7,270,097 and 3,303,333 shares issued and outstanding as of as of September 30, 2024 and June 30, 2024, respectively | 727 | 330 | * |
| Additional paid-in capital | 13,750,228 | 7,024,162 | |
| Accumulated deficit | (13,293,717) | (11,026,928) | |
| Total Shareholders’ Equity (Deficit) | 457,238 | (4,002,436) | |
| Total Liabilities and Shareholders’ Equity (Deficit) | $49,547,691 | $5,374,422 | |
| * | Giving retroactive effect to reverse recapitalization effected on September 26, 2024 to reflect exchange ratio of approximately 3.3033 as described in Note 4. |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.