Foxx Development Holdings Inc.
For the period ended Sep 30, 2025. Filed Nov 18, 2025.
View on SEC.govAbout this filing
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, 2025 · Filed Nov 18, 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 Cash Flows
| For the Three Months Ended | |||
|---|---|---|---|
| September 30, · September 30, | |||
| 2025 · 2024 | |||
| (Unaudited) · (Unaudited) | |||
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||
| Net loss | $(2,865,442) | $(2,266,789) | |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation | 11,742 | 11,281 | |
| Interest expense from convertible promissory notes | - | 140,740 | |
| Amortization of operating right of use assets | 434,362 | 54,417 | |
| Recovery of credit losses, net | (104,276) | - | |
| Stock-based compensation expenses | 296,797 | - | |
| Change in fair value of earnout liabilities | - | 49,861 | |
| Loss on disposal of equipment | 592 | - | |
| Impairments of inventories | 484,315 | - | |
| Change in operating assets and liabilities: | |||
| Accounts receivable | (6,021,541) | (12,119,471) | |
| Inventories | 745,716 | (2,772,477) | |
| Contract assets | 189,714 | (31,141) | |
| Prepaid expenses and other current assets | 809,397 | (210,482) | |
| Amount due from related parties | 8,000 | 140 | |
| Security deposits | - | (573,807) | |
| Security deposits - related party | - | - | |
| Accounts payable | 5,428,061 | 17,889,066 | |
| Contract liabilities | 367,331 | (505,850) | |
| Taxes payable | (5,100) | - | |
| Other payables and accrued liabilities | 333,376 | 214,054 | |
| Other payable - related parties | 6,213 | (77,208) | |
| Operating lease liabilities | (496,020) | (45,793) | |
| Net cash used in operating activities | (376,763) | (243,459) | |
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||
| Purchases of property and equipment | - | (35,000) | |
| Net cash used in investing activities | - | (35,000) | |
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||
| Repayments to short-term loans | - | (291,208) | |
| Principal payments of long-term loan | (6,980) | (4,668) | |
| Proceeds from convertible promissory note | - | 9,000,000 | |
| Proceeds from reverse recapitalization, net of payments of transaction costs | - | 19,710,288 | |
| Payments of deferred transaction costs | - | (131,400) | |
| Net cash provided by financing activities | (6,980) | 28,283,012 | |
| EFFECT OF EXCHANGE RATE CHANGES | (7,218) | - | |
| NET CHANGE IN CASH | (390,961) | 28,004,553 | |
| CASH, beginning of the period | 1,875,453 | 587,448 | |
| CASH, end of the period | $1,484,492 | $28,592,001 | |
| CASH AND RESTRICTED CASH, end of the period reconciliation: | |||
| Cash and cash equivalents | $1,484,492 | $9,180,356 | |
| Restricted cash | - | 19,411,645 | |
| CASH AND RESTRICTED CASH, end of the period | $1,484,492 | $28,592,001 | |
| SUPPLEMENTAL CASH FLOW INFORMATION: | |||
| Cash paid for income tax | $5,100 | $50 | |
| Cash paid for interest | $1,601,010 | $4,073 | |
| NON-CASH INVESTING AND FINANCING ACTIVITIES: | |||
| Initial recognition of operating right-of-use assets and lease liabilities | $20,756,779 | $750,338 | |
| Modification of operating right-of-use assets and lease liabilities | $ | - | $121,655 |
| Conversion of convertible promissory notes into common stock | $ | - | $15,408,685 |
| Reverse recapitalization transaction costs net against additional-paid in capital | $ | - | $893,577 |
| Deferred transaction costs included in other payables and accrued liabilities | $ | - | $300,000 |
| Initial recognition of earnout liabilities | $ | - | $5,688,007 |
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