Company: FGMCU
Filing Date: 2025-09-18
Form Type: S-4
Source: 0001104659-25-091249
Chunk: 524

Company: FG Merger II Corp.
Filing Date: 2025-09-18
Form: S-4
Chunk 524
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 ​ |            ​ |     ​ | ​ |            ​ |     ​ |
| ​                    |   |       As of, |       |   |              |       |
| ​                    |   | December 31, |       |   | December 31, |       |
| (In Thousands)       | ​ |         2024 |       | ​ |         2023 |       |
| Customer prepayments | ​ |            $ | 2,240 | ​ |            $ | 2,684 |
| Site survey deposits | ​ |              |    45 | ​ |              |     — |
| Total                | ​ |            $ | 2,286 | ​ |            $ | 2,684 |

F- 44

NOTE 10 — LEASES On December 29, 2020, the Company signed a 65-month lease for their 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 base rent is $104 thousand and will increase 4% every year. Effective as of January 1, 2023, the Company leased to Supercar System four support squares located in the Company’s main property located at 5435 E. N. Belt Road, Las Vegas, Nevada for $7 thousand per month. The agreement terminates December 31, 2026, and the Company retains