Foxx Development Holdings Inc
For the period ended Dec 31, 2024. Filed Feb 14, 2025.
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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.
Dec 31, 2024 · Filed Feb 14, 2025
FOXX$1.50-6.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Operations (unaudited)
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
| For the Three Months Ended | For the Six Months Ended | |||
|---|---|---|---|---|
| December 31, | December 31, | December 31, | December 31, | |
| 2024 | 2023 | 2024 | 2023 | |
| (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | |
| REVENUES, NET | $17,480,231 | $832,827 | $40,592,283 | $832,827 |
| COST OF GOODS SOLD | 15,289,565 | 733,244 | 38,003,441 | 733,244 |
| GROSS PROFIT | 2,190,666 | 99,583 | 2,588,842 | 99,583 |
| OPERATING EXPENSES: | ||||
| Selling expenses | 1,575,744 | 136,307 | 2,790,786 | 344,583 |
| General and administrative expenses | 1,937,731 | 546,457 | 2,898,978 | 849,791 |
| Research and development - related party | 45,584 | - | 68,376 | - |
| Research and development | 671,753 | - | 678,781 | - |
| Stock-based compensation expenses | 200,954 | - | 200,954 | - |
| Total Operating Expenses | 4,431,766 | 682,764 | 6,637,875 | 1,194,374 |
| LOSS FROM OPERATIONS | (2,241,100) | (583,181) | (4,049,033) | (1,094,791) |
| OTHER INCOME (EXPENSE) | ||||
| Interest expense | (1,042,198) | (52,869) | (1,451,193) | (92,205) |
| Other income (expense), net | 1,861 | (4,560) | 1,861 | (445) |
| Change in fair value of earnout liabilities | 4,705,583 | - | 4,655,722 | - |
| Total Other Income (Expense), net | 3,665,246 | (57,429) | 3,206,390 | (92,650) |
| INCOME (LOSS) BEFORE INCOME TAXES | 1,424,146 | (640,610) | (842,643) | (1,187,441) |
| PROVISION FOR INCOME TAXES | - | - | - | - |
| NET INCOME (LOSS) | $1,424,146 | $(640,610) | $(842,643) | $(1,187,441) |
| WEIGHTED AVERAGE NUMBER OF ORDINARY SHARES* | ||||
| Basic | 7,280,366 | 3,303,333 | 5,389,365 | 3,303,333 |
| Diluted | 7,280,366 | 3,303,333 | 5,389,365 | 3,303,333 |
| INCOME (LOSS) PER SHARE | ||||
| Basic | $0.20 | $(0.19) | $(0.16) | $(0.36) |
| Diluted | $0.20 | $(0.19) | $(0.16) | $(0.36) |
| * | 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.