Company: MHLA
Filing Date: 2025-03-26
Form Type: DEFM14A
Source: 0001104659-25-028254
Chunk: 306

Company: Maiden Holdings, Ltd.
Filing Date: 2025-03-26
Form: DEFM14A
Chunk 306
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’s opinion, it is more likely than not that the Company will not realize the benefit of our deferred taxes and therefore recorded a valuation allowance of $108,857 at December 31, 2024 and $170,326 at December 31, 2023.

F-12

TABLE OF CONTENTS

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities at December 31, 2024 and 2023, respectively are as follows:

| ​                                                  
 Deferred tax assets                                | ​ 
 ​ | ​ 
 ​ | 2024 
 ​    | ​ |        ​ | ​ | ​ 
 ​ | ​ 
 ​ | 2023 
 ​    | ​ |        ​ | ​ | ​ 
 ​ |
|:---------------------------------------------------|:--|:--|:-----|:--|---------:|:--|:--|:--|:-----|:--|---------:|:--|:--|
| Compensation and benefit accrual                   | ​ | ​ | ​    | $ |   33,664 | ​ | ​ | ​ | ​    | $ |   32,858 | ​ | ​ |
| Net operating loss carryforward                    | ​ | ​ | ​    | ​ |   75,231 | ​ | ​ | ​ | ​    | ​ |  138,166 | ​ | ​ |
| Lease liability                                    | ​ | ​ | ​    | ​ |   51,265 | ​ | ​ | ​ | ​    | ​ |   65,940 | ​ | ​ |
| Total deferred tax assets                          | ​ | ​ | ​    | ​ |  160,160 | ​ | ​ | ​ | ​    | ​ |  236,964 | ​ | ​ |
| Deferred tax liabilities                           | ​ | ​ | ​    | ​ |        ​ | ​ | ​ | ​ | ​    | ​ |        ​ | ​ | ​ |
| Right of use asset                                 | ​ | ​ | ​    | ​ |  -46,927 | ​ | ​ | ​ | ​    | ​ |  -61,390 | ​ | ​ |
| Prepaid expenses                                   | ​ | ​ | ​    | ​ |   -4,376 | ​ | ​ | ​ | ​    | ​ |   -5,248 | ​ | ​ |
| Total deferred tax liabilities                     | ​ | ​ | ​    | ​ |  -