Company: FGMCU
Filing Date: 2025-12-30
Form Type: S-4/A
Source: 0001104659-25-124947
Chunk: 433

Company: FG Merger II Corp.
Filing Date: 2025-12-30
Form: S-4/A
Chunk 433
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2025,

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as discussed above. Revenue was generated by the sale of 3 Casitas delivered to 3 customers during the three months ended September 30, 2025. This is in comparison to the sale of 11 Casitas delivered to 1 customer during the three months ended September 30, 2024. During the three months ended September 30, 2025, revenues from three customers made up 100% of BOXABL’s revenues. Significant customers included Innovate ADU, Loomis Home Services, and Instant Living, representing 33%, 32%, and 35% of revenues for the three months ended September 30, 2025, respectively. We are continuing to close deals from our sales pipeline/waitlist and generating interest in our next generation of products. We have reinforced our go-to market sales strategy with a targeted salesforce. On July 17, 2024, BOXABL launched the BOXABL Directory which is a growing network of modular home Preferred Dealers/Installers across the States where BOXABL has approval to sell its Casita. Since most states require various dealer and installer licenses in order to sell and install modular homes, BOXABL had been utilizing a network of Preferred BOXABL Dealers/Installers to handle these transactions with its end customers. In addition to the network of Dealers/Installers, BOXABL has also launched an online dealer portal which allows the approved and trained Dealers/Installers to access a list of potential customers that have ordered a Casita in their area, are ready to proceed with their project, and need sitework and installation services. The launch of BOXABL’s dealer portal, combined with the expansion of our Preferred Dealer/Installer network, provides a platform for BOXABL to expand its sales and installation operations throughout the States where our product can be sold. Since launching the BOXABL Directory, BOXABL trained over 80 Dealers/Installers in its network. As BOXABL’s product obtains additional approvals throughout the country, BOXABL expects to utilize these systems to execute additional sales in these territories, with faster ramp up time. Cost of Goods Sold Cost of goods sold were $1.9 million and $3.3 million for the three months ended September 30, 2025 and 2024, respectively. Cost of goods sold consists primarily of the cost of products used in the production of BOXABL’s finished products, inbound and outbound shipping costs, the related labor, and indirect manufacturing overhead costs associated with that production