Company: KG
Filing Date: 2025-03-24
Form Type: S-4/A
Source: 0001104659-25-027242
Chunk: 301

Company: Kestrel Group Ltd
Filing Date: 2025-03-24
Form: S-4/A
Chunk 301
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 payments is recognized on a straight-line basis over the lease term. The Company accounts for lease and non-lease components separately. The lease components consist of its office building, and non-lease components consist of common area and other maintenance costs and are expensed in the period incurred. Lease Summary The Company is party to one lease for a corporate office that expires in 2027. Lease payments have an escalating fee schedule, which range from 3% to 4% each year. Termination of the leases is generally prohibited unless there is a violation under the lease agreement. Lease cost recognized on a straight-line basis was $78,992 for the years ended December 31, 2024 and 2023. Other required information for the years ended December 31, 2024 and 2023 are as follows:

| ​                                                | ​ | ​ | 2024 |   |        |   | ​ | ​ | 2023 |   |        |   | ​ |
| Other information related to operating lease:    | ​ | ​ |    ​ | ​ |      ​ | ​ | ​ | ​ |    ​ | ​ |      ​ | ​ | ​ |
| Operating cash flows from operating lease        | ​ | ​ |    ​ | ​ | 80,006 | ​ | ​ | ​ |    ​ | ​ | 77,070 | ​ | ​ |
| Weighted-average remaining lease term (in years) | ​ | ​ |    ​ | ​ |   2.92 | ​ | ​ | ​ |    ​ | ​ |   3.92 | ​ | ​ |
| Weighted-average discount rate                   | ​ | ​ |    ​ | ​ |   3.9% | ​ | ​ | ​ |    ​ | ​ |   3.9% | ​ | ​ |

Future minimum lease payments and reconciliation to the consolidated balance sheets as of December 31, 2024 are as follows:

| ​ |                              2025 | ​ | ​ | ​ | $ |  82,942 | ​ | ​ |
| ​ |                              2026 | ​ | ​ | ​ | ​ |  85,878 | ​ | ​ |
| ​ |                              2027 | ​ | ​ | ​ | ​ |  88,814 | ​ | ​ |
| ​ |     Total undiscounted cash flows | ​ | ​ | ​ | ​ | 257,634 | ​ | ​ |
| ​ |       Less