Company: FGMCU
Filing Date: 2025-12-30
Form Type: S-4/A
Source: 0001104659-25-124947
Chunk: 554

Company: FG Merger II Corp.
Filing Date: 2025-12-30
Form: S-4/A
Chunk 554
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 and 2023, the weighted average incremental borrowing rate was 5.5% and 4%, respectively. No ROU asset is recorded for leases with a lease term, including any reasonably assured renewal terms, of 12 months or less. Upon adoption of ASC 842, the Company also recorded lease liabilities computed as the present value of future minimum lease payments, including reductions from any landlord incentives, plus any additional direct costs from executing the leases. Lease liabilities are amortized using the effective interest method using a discount rate of 4%. Depreciation on the ROU asset is calculated as the difference between the expected straight-line rent expense over the lease term less the accretion on the lease liability. The Company recognizes a right-of-use asset and a lease liability for these operating leases in its consolidated balance sheets. The Company’s lease agreements also include obligations for the Company to pay for other services, including operations and maintenance. The Company accounts for these services separately.

F- 46

NOTE 11 — RELATED PARTY TRANSACTIONS The Company had the following transactions with related parties:

| ​                                            
 ​                                            | ​              
 ​ ​ ​          
 (In Thousands) | ​                       
 Year Ended December 31, 
 ​ ​ ​                   |    ​ 
 2024 | ​ | ​     
 ​ ​ ​ |    ​ 
 2023 |
|:---------------------------------------------|:---------------|:------------------------|-----:|:--|:------|-----:|
| Consolidated Statement of Comprehensive Loss | ​              | ​                       |    ​ |   | ​     |    ​ |
| Rental income(1)                             | ​              | $                       |   89 | ​ | $     |   89 |
| Professional fees(2)                         | ​              |                         |    — | ​ |       |   93 |

| ​                           
 ​                           
 ​                           
 (In Thousands)              
 Consolidated Balance Sheets | ​     
 ​ ​ ​ 
 ​ ​ ​ 
 ​     
 ​     | ​             
 Balance as of 
 December 31,  
 2024          
 ​             |     ​ 
     ​ | ​     
 ​ ​ ​ 
 ​     
 ​     | ​            
 December 31, 
 2023         
 ​            |     ​ 
     ​ |
|:----------------------------|:------|:--------------|------:|:------|:-------------|------:|
| Preferred Stock(3)          | ​     | $             | 1,719 |       | $            | 1,719 |
| Acquisition