Company: FGMCU
Filing Date: 2025-12-30
Form Type: S-4/A
Source: 0001104659-25-124947
Chunk: 441

Company: FG Merger II Corp.
Filing Date: 2025-12-30
Form: S-4/A
Chunk 441
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): BXBL will sell shares to Counterparty at a 2% discount to the VWAP (variable weighted average price). This will provide the new company with a source of capital that it is able to draw on at any time. We expect that this will be the primary mechanism used to meet our cash requirements. 2. We also expect to receive approximately $20-40 MM of cash currently held in the Trust Account with the FGMC SPAC. This amount will depend on the redemption rate; however, we anticipate to receive approximately $20-40 million, as outlined in our Pro Forma Table. This will supplement the above line of credit. The sources of funding cited above will provide approximately $120-140 million. Using the Company’s monthly burn rate of $4.7 million for the 9 months ended September 30, 2025, we expect that this short-term liquidity plan will sustain the Company’s cash needs for approximately 25-29 months. For this purpose, we consider that short-term liquidity is “defined as a period of twelve months or less” meaning our plans for cash generation meet our short-term liquidity requirements. Long Term: When addressing our long-term liquidity requirements, we consider the next 5 years, from 2026-2030. We expect that funding for the Company’s operations will be driven from the Cash Flows generated from the Company’s product Sales. As of December 16, 2025, the Company had signed contracts for (but not shipped yet) 358 Units. We expect that these sales contracts will convert to revenue, providing cash flow to the Company. As we execute the Company’s long term business plan, we may consider various financing options to fund capital expenditures, such as:

| ● | A corporate bond offering |

| ● | A convertible note offering |

| ● | Sale of warrants |

| ● | Bank loans/line of credit |

| ● | ELOC |

| ● | Shelf Offering |

Cash requirements: Regarding short-term material cash requirements, for the 9 months ended September 30, 2025, the Company’s expenditures primarily consisted of personnel costs to increase staff in various departments; R&D expenses; materials purchased for production; facility rents; and legal & administrative costs.

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For material cash requirements and contractual obligations in the long-term period, the Company currently has leases for all three of its facilities, located in Las Vegas, NV. The total lease liability as of September 30, 2025, is $8,068 thousand. See