▲ 1 r/ShortStocks
FG Merger II Corp. (FGMC) and BOXABL Inc. (expected ticker: BXBL) — proceed with caution.
I'm not even sure this is worth mentioning anymore, since everyone seems to be talking about it.
The original idea sounded ambitious: build a factory capable of mass-producing tiny homes like they're coming off an assembly line, sell each one for $50,000 (later increased to $60,000), and help solve the housing crisis. The only catch was that the homes were extremely small—but, as the argument went, a tiny home is better than no home at all.
To fund this vision, the company raised capital through crowdfunding, offering investors preferred shares. Early progress looked promising, with a government contract and sales to major corporate customers.
Then the company ran into reality.
It turned out that these homes cannot be installed everywhere due to local building codes and zoning regulations. In addition, site preparation, utility connections, and the cost of obtaining local permits can increase the total cost of a home by several times.
At the same time, the company is spending enormous amounts on sales and marketing. Last year alone, these expenses were nearly 17 times higher than its total revenue.
It's important to understand that this isn't an internet or software company, where heavy upfront investment in the product or customer acquisition can eventually lead to economies of scale, with the cost of serving each additional customer falling dramatically. BOXABL operates a manufacturing business, where production, logistics, installation, and customer acquisition remain capital-intensive even as volumes increase.
There are also questions regarding the founders’ compensation. A salary of around $1.2 million appears difficult to justify given annual sales of only about $1.5 million.
The company has also been associated with aggressive marketing practices, including offering equity to influencers in exchange for promotional content and positive coverage. The decent video about that and other concerns - https://www.youtube.com/watch?v=hocU7uRzMOc.
In addition, the company’s preferred shares—issued to crowdfunding investors—can reportedly only be converted into common shares in stages, starting 14 months after the IPO begins trading.
At the same time, some shareholders are already willing to sell these shares today at roughly half price.
https://www.reddit.com/r/investing/comments/1tskfkq/boxabl_preferred_investors_are_people/
Recent SPAC-related developments indicate that approximately 83% of committed funds were redeemed following the merger announcement. As a result, the company is expected to receive roughly five times less capital than initially anticipated.
Put differently, about four out of five SPAC investors have effectively withdrawn their backing, which can be interpreted as a lack of confidence in the post-merger equity story.
Additionally, it is notable that in most SPAC transactions the new ticker typically begins trading within a few days after the merger announcement. In this case, however, nearly three weeks have already passed without trading commencement, which is an unusual delay compared to standard SPAC timelines.
(https://www.prnewswire.com/news-releases/fg-merger-ii-corp-announces-closing-of-the-redemption-window-for-its-business-combination-with-boxabl-302794386.html)
The company has also recently entered into an agreement to sell its homes in the United Kingdom and Ireland. Perhaps regulatory standards there are lower, and installing such a unit—shipped from desert Nevada—would be cheaper than importing one from China.
What struck me, however, is the complete lack of contact details on the UK company’s website (no address, no phone number), as well as the fact that both the company and the domain were registered only in April of this year, 2026.
To sum up: money is burning at an extraordinary rate, including through founders’ salaries. Sales are minimal, the outlook is unclear, investors are disappointed, and even positive news tends to raise additional questions.
Not financial advice. This post reflects my personal opinions and research. Do your own due diligence before making any investment decisions.
I’m not affiliated with the company mentioned, and I may or may not hold a position.
u/Zestyclose-Hat-5497 — 7 days ago
▲ 7 r/VampireStocks
FG Merger II Corp. (FGMC) and BOXABL Inc. (expected ticker: BXBL) — proceed with caution.
I'm not even sure this is worth mentioning anymore, since everyone seems to be talking about it.
The original idea sounded ambitious: build a factory capable of mass-producing tiny homes like they're coming off an assembly line, sell each one for $50,000 (later increased to $60,000), and help solve the housing crisis. The only catch was that the homes were extremely small—but, as the argument went, a tiny home is better than no home at all.
To fund this vision, the company raised capital through crowdfunding, offering investors preferred shares. Early progress looked promising, with a government contract and sales to major corporate customers.
Then the company ran into reality.
It turned out that these homes cannot be installed everywhere due to local building codes and zoning regulations. In addition, site preparation, utility connections, and the cost of obtaining local permits can increase the total cost of a home by several times.
At the same time, the company is spending enormous amounts on sales and marketing. Last year alone, these expenses were nearly 17 times higher than its total revenue.
It's important to understand that this isn't an internet or software company, where heavy upfront investment in the product or customer acquisition can eventually lead to economies of scale, with the cost of serving each additional customer falling dramatically. BOXABL operates a manufacturing business, where production, logistics, installation, and customer acquisition remain capital-intensive even as volumes increase.
There are also questions regarding the founders’ compensation. A salary of around $1.2 million appears difficult to justify given annual sales of only about $1.5 million.
They even paid huge bonuses to themselves in 2024!
The company has also been associated with aggressive marketing practices, including offering equity to influencers in exchange for promotional content and positive coverage. (https://www.youtube.com/watch?v=hocU7uRzMOc)
In addition, the company’s preferred shares—issued to crowdfunding investors—can reportedly only be converted into common shares in stages, starting 14 months after the IPO begins trading.
At the same time, some shareholders are already willing to sell these shares today at roughly half price.
https://www.reddit.com/r/investing/comments/1tskfkq/boxabl_preferred_investors_are_people/
Recent SPAC-related developments indicate that approximately 83% of committed funds were redeemed following the merger announcement. As a result, the company is expected to receive roughly five times less capital than initially anticipated.
Put differently, about four out of five SPAC investors have effectively withdrawn their backing, which can be interpreted as a lack of confidence in the post-merger equity story.
Additionally, it is notable that in most SPAC transactions the new ticker typically begins trading within a few days after the merger announcement. In this case, however, nearly three weeks have already passed without trading commencement, which is an unusual delay compared to standard SPAC timelines.(https://www.prnewswire.com/news-releases/fg-merger-ii-corp-announces-closing-of-the-redemption-window-for-its-business-combination-with-boxabl-302794386.html)
The company has also recently entered into an agreement to sell its homes in the United Kingdom and Ireland. Perhaps regulatory standards there are lower, and installing such a unit—shipped from desert Nevada—would be cheaper than importing one from China.
What struck me, however, is the complete lack of contact details on the UK company’s website (no address, no phone number), as well as the fact that both the company and the domain were registered only in April of this year, 2026.
To sum up: money is burning at an extraordinary rate, including through founders’ salaries. Sales are minimal, the outlook is unclear, investors are disappointed, and even positive news tends to raise additional questions.
Not financial advice. This post reflects my personal opinions and research. Do your own due diligence before making any investment decisions.
I’m not affiliated with the company mentioned, and I may or may not hold a position.
u/Zestyclose-Hat-5497 — 8 days ago
▲ 1 r/TradingView
MNTS chart is wrong
I tried to find the contact button on the site, I know it was there, I used it once...
Look at this chart and correct your data please.
Thank you
u/Zestyclose-Hat-5497 — 24 days ago