BOXABL Inc.

• Observed GAAP P/E is about 79.26x.
• Return on equity is about -640.4%.
• Debt to equity is about -0.0x.
• [TRIGGER] allocator_boost: allocator_boost (allocator) on FGMC — watcher=allocator; producer_version=ws49-p2a-v1; plan_date=2026-07-24; rank=27; ev=8.425524; company_id=f876e017-c524-4f6e-b260-bcaef080ab2e; term_contributions={'event_proximity': 4.347987, 'gradability': 0.0, 'staleness': 4.077537, 'credibility_interest': 0.0}; days_since_analysis=58; pending_promises=0; reason=Allocator coverage boost rank #27 EV=8.425524 for FGMC (hot+stale; days_since=58); contributing_watchers=allocator (source=allocator; url=allocator:2026-07-24:FGMC)
• Companyfacts coverage was partial; recent filing facts backfilled shares_outstanding_basic, shares_outstanding_diluted.
• Statement of Changes in Stockholders’ Equity (unaudited) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Common ​ Common ​ Additional ​ ​ ​ Total ​ ​ Stock ​ Stock ​ paid-in ​ Accumulated ​ Stockholders’ ​ ​ ​ ​ Shares ​ ​ ​ Amount ​ ​ ​ capital ​ ​ ​ Deficit ​ ​ ​ equity Balance at December 31, 2024 (audited) 2,300,000 $ 230 ​ $ 26,436 ​ $ ( 29,298 ) ​ $ ( 2,632 ) Sale of 8,000,000 units at $ 10 per unit in IPO ​ 8,000,000 ​ ​ 800 ​ ​ 79,999,200 ​ ​ — ​ ​ 80,000,000 Sale of 248,300 units in private placement ​ 248,300 ​ ​ 24 ​ ​ 2,482,976 ​ ​ — ​ ​ 2,483,000 Sale of 1,000,000 $ 15 strike warrants in private placement ​ — ​ ​ — ​ ​ 100,000 ​ ​ — ​ ​ 100,000 Issuance of underwriter units ​ 40,000 ​ ​ 4 ​ ​ 96 ​ ​ — ​ ​ 100 Issuance of advisor units ​ 7,500 ​ ​ 1 ​ ​ — ​ ​ — ​ ​ 1 Reclassification of offering costs ​ — ​ ​ — ​ ​ ( 1,481,032 ) ​ ​ — ​ ​ ( 1,481,032 ) Common shares subject to possible redemption ​ — ​ ​ ( 800 ) ​ ​ ( 80,799,200 ) ​ ​ — ​ ​ ( 80,800,000 ) Accretion of common shares subject to possible redemption ​ — ​ ​ — ​ ​ ( 297,820 ) ​ ​ — ​ ​ ( 297,820 ) Forfeiture of founder shares due to no over-allotment exercise by underwriter ​ ( 300,000 ) ​ ​ — ​ ​ — ​ ​ — ​ ​ — Net Income ​ — ​ ​ — ​ ​ — ​ ​ 315,350 ​ ​ 315,350 Balance at March 31, 2025 ​ 10,295,800 ​ $ 259 ​ $ 30,656 ​ $ 286,052 ​ $ 316,967 Accretion of common shares subject to possible redemption ​ — ​ ​ — ​ ​ ( 30,656 ) ​ ​ ( 1,008,412 ) ​ ​ ( 1,039,068 ) Net Income ​ — ​ ​ — ​ ​ — ​ ​ 1,111,630 ​ ​ 1,111,630 Balance at December 31, 2025 (audited) 10,295,800 ​ 259 ​ ​ — ​ ​ 389,270 ​ ​ 389,529 Accretion of common shares subject to possible redemption ​ — ​ ​ — ​ ​ — ​ ​ ( 722,224 ) ​ ​ ( 722,224 ) Net Income ​ — ​ ​ — ​ ​ — ​ ​ 287,762 ​ ​ 287,762 Balance at March 31, 2026 10,295,800 ​ 259 ​ ​ — ​ ​ ( 45,192 ) ​ ​ ( 44,933 ) ​ The accompanying notes are an integral part of the financial statements.

Bull / Bear case

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