Company: FGMCU
Filing Date: 2025-12-30
Form Type: S-4/A
Source: 0001104659-25-124947
Chunk: 584

Company: FG Merger II Corp.
Filing Date: 2025-12-30
Form: S-4/A
Chunk 584
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 ​ ​ | Balance as of |       |              |
| ​                           | ​     | September 30, | ​     | December 31, |
| (In Thousands)              | ​     |          2025 | ​ ​ ​ |         2024 |
| Stock options               |       |        44,323 |       |       50,196 |
| Restricted stock units      |       |       135,602 |       |      173,572 |
| Warrants                    |       |        18,573 |       |       18,573 |
| Preferred stock             |       |     1,327,720 |       |    1,248,203 |
| Potentially dilutive shares |       |     1,526,218 |       |    1,490,544 |

Leases The Company leases some items of property, plant and equipment, including manufacturing and office space. On the lease commencement date, a lease is classified as a finance lease or an operating lease based on the classification criteria of the lease guidance under ASC 842. In accordance with ASC 842, the Company has recorded right-of-use (“ ROU ”) assets for all of its leased assets classified as operating leases. The Company has no finance leases. The ROU assets were computed as the present value of future minimum lease payments, including additional payments resulting from a change in an index such as a consumer price index or an interest rate, plus any prepaid lease payments minus any lease incentives received. Warranty Provision The Company generally offers its customers a manufacturers’ warranty on Casita products sold for a period of one year. Management records an expense to cost of goods sold for the costs of warranty repairs at the time of sale. Management’s estimate for warranties is based on sales levels and historical costs of providing warranties. As of September 30, 2025 and December 31, 2024, respectively, the Company’s reserve for warranty totaled $600 thousand and $594 thousand, respectively, and is reflected in “accrued expenses and other current liabilities” in the consolidated balance sheets. Recent Accounting Pronouncements As new accounting pronouncements are issued, the Company will adopt those that are applicable under the circumstances. In July 2025, the Financial Accounting Standards Board (“ FASB ”) issued ASU 2025-05, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivables and Contract Assets , which introduces a practical expedient for the application