Company: FGMCU
Filing Date: 2025-09-18
Form Type: S-4
Source: 0001104659-25-091249
Chunk: 404

Company: FG Merger II Corp.
Filing Date: 2025-09-18
Form: S-4
Chunk 404
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 Note 12. Stockholders’ Equity – Stock-based Compensation” for further discussion. Total Other Income For the three months ended June 30, 2025 and 2024, our total other income was $400,000 as compared to $502,000, respectively, primarily due to lower balances of interest-bearing deposits. Six Months Ended June 30, 2025 Compared with the Six Months Ended June 30, 2024 Revenues Our gross revenues for the six-months ended June 30, 2025 and 2024 were $402,000 and $708,000, respectively. Revenue was generated by the sale of 5 Casitas delivered to 5 customers during the six months ended June 30, 2025. This is in comparison to the sale of 7 Casitas delivered to 4 customers during the six months ended June 30, 2024. During the six months ended June 30, 2025, revenues from four customers was approximately 76% of BOXABL’s revenues. Significant customers included Pinnacle

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Construction, KAS Construction, NRE Construction, and American Home Source, representing 30%, 15%, 15% and 16% of revenues for the six months ended June 30, 2025, respectively. Cost of Goods Sold Cost of goods sold were $11.8 million and $7.3 million for the six-months ended June 30, 2025 and 2024, respectively. Cost of goods sold for the six months ended June 30, 2025 and 2024, consist of the following:

| ​                        
 ​                        | ​              
 (In Thousands) | ​        
 June 30, |      ​ 
   2025 | ​ | ​ |     ​ 
  2024 |
|:-------------------------|:---------------|:---------|-------:|:--|:--|------:|
| Direct material/shipping | ​              | $        |    170 | ​ | $ |   252 |
| Direct labor             | ​              |          |    145 | ​ |   |   411 |
| Manufacturing overhead   | ​              |          |   -353 | ​ |   | 6,669 |
| Inventory adjustments    | ​              |          | 11,879 | ​ |   |     — |
| Cost of goods sold       | ​              | $        | 11,841 | ​ | $ | 7,332 |