Company: ILLRW
Filing Date: 2025-01-24
Form Type: S-1
Source: 0001213900-25-006210
Chunk: 393

Company: Triller Group Inc.
Filing Date: 2025-01-24
Form: S-1
Chunk 393
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with the adoption of ASU 2016-02: (i) for leases that have lease terms of 12 months or less and does not include a purchase option that
is reasonably certain to exercise, the Company elected not to apply ASC 842 recognition requirements; and (ii) the Company elected to
apply the package of practical expedients for existing arrangements entered into prior to January 1, 2021 to not reassess (a) whether
an arrangement is or contains a lease, (b) the lease classification applied to existing leases, and (c) initial direct costs. The Company
has not entered any lease agreements with lease terms of 12 months or less during the years ended December 31, 2023 and 2022. The Company
elected not to separate non-lease components from lease components; therefore, it will account for lease component and the non-lease components
as a single lease component when there is only one vendor in the lease contract for the office leases. Lease payments are fixed.

The accounting update also requires that for operating
leases, a lessee recognize interest expense on the lease liability and the amortization of the right-of-use asset as a combined expense.
In addition, this accounting update requires expanded disclosures about the nature and terms of lease agreements.

| ● | Related 
 Parties |

The Company follows the ASC Topic 850-10, Related
Party for the identification of related parties and disclosure of related party transactions.

Pursuant to section 850-10-20, the related parties
include: a) affiliates of the Company; b) entities for which investments in their equity securities would be required, absent the election
of the fair value option under the Fair Value Option Subsection of section 825–10–15, to be accounted for by the equity method
by the investing entity; c) trusts for the benefit of employees, such as pension and income-sharing trusts that are managed by or under
the trusteeship of management; d) principal owners of the Company; e) management of the Company; f) other parties with which the Company
may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one
of the transacting parties might be prevented from fully pursuing its own separate interests; and g) other parties that can significantly
influence the management or operating policies of the transacting parties or that have an ownership interest in one of the transacting
parties and can significantly influence the other