Company: FGMCU
Filing Date: 2025-09-18
Form Type: S-4
Source: 0001104659-25-091249
Chunk: 400

Company: FG Merger II Corp.
Filing Date: 2025-09-18
Form: S-4
Chunk 400
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 impacts our business may face. The availability of certain goods could be affected if foreign suppliers choose to limit their exposure to U.S. markets in response to unfavorable trade policies, which could negatively impact the ability of our suppliers to deliver materials or manufacturing equipment to us and, therefore, delay or impede our deliveries. Furthermore, rising inflation, slower economic growth and increases in unemployment that may result from global trade disruptions could further deflate consumer demand, which may impact the housing market more broadly, reducing demand for our products.

Results of Operations

Three Months Ended June 30, 2025 Compared with the Three Months Ended June 30, 2024

Revenues

Our gross revenues for the three months ended June 30, 2025 and 2024 were $279,000 and $83,000, respectively. The BOXABL Casita received modular housing approval in New Mexico and California in 2024, and Nevada and South Carolina in 2025, as discussed above. Revenue was generated by the sale of 4 Casitas delivered to 4 customers during the three months ended June 30,

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2025. This is in comparison to the sale of 1 Casitas delivered to 1 customer during the three months ended June 30, 2024. During the three months ended June 30, 2025, revenues from four customers made up 88% of BOXABL’s revenues. Significant customers included American Home Source, NRE Custom Homes, KAS Construction, and Pinnacle Construction, representing 24%, 22%, 21% and 21% of revenues for the three months ended June 30, 2025, respectively. We are continuing to close deals from our sales pipeline/waitlist and generating interest in our next generation of products. We have reinforced our go-to market sales strategy with a targeted salesforce. On July 17, 2024, BOXABL launched the BOXABL Directory which is a growing network of modular home Preferred Dealers/Installers across the States where BOXABL has approval to sell its Casita. Since most states require various dealer and installer licenses in order to sell and install modular homes, BOXABL had been utilizing a network of Preferred BOXABL Dealers/Installers to handle these transactions with its end customers. In addition to the network of Dealers/Installers, BOXABL has also launched an online dealer portal which allows the approved and trained Dealers/Installers to access a list of potential customers that have ordered a Casita in their