FOXX · Foxx Development Holdings Inc. · Proposed Sales

Substantial doubt about the company's ability to continue as a going concern.

“Our management has determined that the factors discussed above have raised substantial doubt about our ability to continue as a going concern within one year after the date that the consolidated financial statements are issued. The consolidated financial statements have been prepared assuming that we will continue as a going concern and, accordingly, do not include any adjustments that might result from the outcome of this uncertainty.”