Company: ILLRW
Filing Date: 2025-01-24
Form Type: S-1
Source: 0001213900-25-006210
Chunk: 312

Company: Triller Group Inc.
Filing Date: 2025-01-24
Form: S-1
Chunk 312
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-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance
in ASC Topic 480, “Distinguishing Liabilities from Equity” (“ASC 480”) and ASC Topic 815, “Derivatives and Hedging” (“ASC 815”). The assessment considers whether the warrants are freestanding financial instruments pursuant
to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification
under ASC 815, including whether the warrants are indexed to the Company’s own common stock and whether the warrant holders could
potentially require “net cash settlement” in a circumstance outside of the Company’s control, among other conditions
for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance
and as of each subsequent quarterly period end date while the warrants are outstanding.

For issued or modified warrants that meet all of the criteria for equity
classification, the warrants are required to be recorded as a component of equity at the time of issuance. For issued or modified warrants
that do not meet all the criteria for equity classification, the warrants are required to be recorded as liabilities at their initial
fair value on the date of issuance, and each balance sheet date thereafter. Changes in the fair value are recognized as a non-cash gain
or loss on the unaudited condensed consolidated statements of operations and comprehensive loss. The Company accounts for its Public Warrants
as equity and the (i) SPAC Private Warrants, (ii) Warrants – Class A, and (iii) Common Warrants as liabilities.

Warrants classified as liabilities are recorded
at fair value and are remeasured at each reporting date until settlement. Changes in fair value is recognized as a component of change
in fair value of warrant liability in the unaudited condensed consolidated statements of operations and comprehensive loss. Transaction
costs allocated to warrants that are presented as a liability are immediately expensed in the unaudited condensed consolidated statements
of operations and comprehensive loss. Warrants classified as equity instruments are initially recognized at fair value and are not subsequently
remeasured.

| ● | Revenue     
 Recognition |

The Company receives certain portion of its non-interest
income from contracts with customers, which are accounted for in accordance with Accounting Standards Update (“ASU”) No. 2014-09,
“Revenue from Contracts with Customers (Topic 606)” (“ASC 606”).

ASC 606 provided the following