Company: FGMCU
Filing Date: 2025-12-30
Form Type: S-4/A
Source: 0001104659-25-124947
Chunk: 579

Company: FG Merger II Corp.
Filing Date: 2025-12-30
Form: S-4/A
Chunk 579
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 of the Company’s bitcoin holdings at such reporting date, and any subsequent increases or decreases in the market value of BTC increases or decreases the deferred tax liability. In determining the gain (loss) to be recognized upon sale, the Company calculates the difference between the sales price and carrying value of the specific BTC sold immediately prior to sale. The Company’s BTC purchased for investment purposes is initially recorded at cost, inclusive of transaction costs and fees. Subsequently, the Company remeasures its BTC investment at fair value at the end of each reporting period with changes recognized in net income through other (expense) income, net on the Company’s unaudited interim condensed consolidated Statements of Comprehensive Loss, within Other Income. As of September 30, 2025, the Company held 10 BTC with a cost basis of $1,078 thousand and a fair value of $1,143 thousand.

F- 67

The following table summarizes the Company’s digital asset purchases, gains (losses) on digital assets, for the nine and three months ended:

| ​                                         | ​     |                           ​ |     ​ | ​     |             ​ |     ​ |
| ​                                         | ​ ​ ​ | Nine and Three Months Ended |       |       |               |       |
| ​                                         | ​     |               September 30, |       | ​ ​ ​ | September 30, |       |
| (In Thousands, except number of Bitcoins) | ​     |                        2025 |       | ​     |          2025 |       |
| Bitcoins Purchased                        |       |                           ​ |    10 |       |             ​ |     — |
| Digital asset purchases                   | ​     |                           $ | 1,078 | ​     |             $ |     — |
| Gain on digital assets                    | ​     |                             |    65 | ​     |               |    72 |
| Digital asset carrying value              | ​     |                           $ | 1,143 | ​     |             $ | 1,143 |

The Company did not sell any of its Bitcoins during the nine and three months ended September 30, 2025. The Company held no Bitcoin in 2024. Intangible Assets The Company has intangible assets that are amortized over the respective estimated lives on a straight-line basis unless the lives are determined to be indefinite and reviewed for impairment whenever events or other changes in circumstances indicate that the carrying amount may not be recoverable. The Company’s intangible assets include intellectual property associated