Company: KG
Filing Date: 2025-03-10
Form Type: S-4
Source: 0001104659-25-021993
Chunk: 305

Company: Kestrel Group Ltd
Filing Date: 2025-03-10
Form: S-4
Chunk 305
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 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                     | ​ | ​ | ​    | ​ |  -51,303 | ​ | ​ | ​ | ​    | ​ |  -66,638 | ​ | ​ |
| Net deferred tax assets before valuation allowance | ​ | ​ | ​    | ​ |  108,857 | ​ | ​ | ​ | ​    | ​ |  170,326 | ​ | ​