Company: FGMCU
Filing Date: 2025-01-21
Form Type: S-1/A
Source: 0001104659-25-004764
Chunk: 307

Company: FG Merger II Corp.
Filing Date: 2025-01-21
Form: S-1/A
Chunk 307
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 waiver of any and all rights to seek access to the Trust Account and except as
to any claims under the Company’s indemnity of the underwriters of the Proposed Offering against certain liabilities, including
liabilities under the Securities Act of 1933, as amended (the “Securities Act”). In the event that an executed waiver is
deemed to be unenforceable against a third party, the Sponsor will not be responsible to the extent of any liability for such third-party
claims. The Company will seek to reduce the possibility that the Sponsor will have to indemnify the Trust Account due to claims of creditors
by endeavoring to have all vendors, service providers, prospective target businesses or other entities with which the Company does business,
execute agreements with the Company waiving any right, title, interest or claim of any kind in or to monies held in the Trust Account.

Going Concern Consideration

At September 30, 2024, the Company had $ 53,103 cash and a working
capital deficit of $2,366. The Company has incurred and expects to continue to incur significant costs in pursuit of its Proposed Offering
and Business Combination plans. These conditions raise substantial doubt about the Company’s ability to continue as a going concern
within one year after the date that the financial statements are issued. Management plans to address this uncertainty through a Proposed
Offering as discussed in Note 3, as well as sale of $15 Private Warrants and Private Units as discussed above. There is no assurance
that the Company’s plans to raise capital or to consummate a Business Combination will be successful or successful within the Combination
Period. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of presentation

The accompanying financial statements are presented in U.S. Dollars
and conformity with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the
rules and regulations of the SEC.

Emerging growth company

The Company is an “emerging growth company,” as defined
in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”),
and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that
are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements
of