Company: FGMCU
Filing Date: 2025-12-30
Form Type: S-4/A
Source: 0001104659-25-124947
Chunk: 590

Company: FG Merger II Corp.
Filing Date: 2025-12-30
Form: S-4/A
Chunk 590
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2024, the Company began accepting $500 payments from customers beginning the B2C order process, which are used to conduct site surveys for the location or site of the sale. Deferred revenue consisted of the following as of September 30, 2025 and December 31, 2024:

| ​                    | ​     |             ​ |     ​ | ​     |            ​ |     ​ |
| ​                    | ​     | Balance as of |       |       |              |       |
| ​                    | ​     | September 30, |       | ​     | December 31, |       |
| (In thousands)       | ​ ​ ​ |          2025 |       | ​ ​ ​ |         2024 |       |
| Customer prepayments | ​     |             $ | 2,298 | ​     |            $ | 2,241 |
| Site survey deposits | ​     |             ​ |    64 | ​     |            $ |    45 |
| Total                | ​     |             $ | 2,362 | ​     |            $ | 2,286 |

F- 76

NOTE 10 — LEASES On December 29, 2020, the Company signed a 65-month lease for its 173,000 sq. ft. factory facility, commencing on May 1, 2021. As of December 31, 2020, a $525 thousand security deposit, first month’s rent, $87 thousand, and first-month’s Tenant’s Percentage of Operating Expense Fees (“ CAM ”) $19 thousand, had been paid to the landlord. The monthly CAM varies from month to month. After December 31, 2022, the Company amended the lease agreement to obtain additional space in a neighboring warehouse for four years, with the first month’s base rent of $116 thousand, increasing by 4% annually. During the year ended December 31, 2024, the Company performed improvements to the leased facility. In connection with these improvements, the Company made an additional security deposit of $259 thousand to the landlord. On June 10, 2022, the Company signed a 73-month lease for a 132,960 sq. ft warehouse, commencing the earlier of (a) 30 days after substantial completion of tenant work by the landlord or (b) tenant commencing operation in the building. The lease commencement date was determined to be February 1, 2023. The initial