Exhibit 107

Calculation of Filing Fee Table

Form S-1

(Form Type)

FG Financial Group, Inc.

(Exact Name of Registrant as Specified in its Charter)

Table 1: Newly Registered and Carry Forward Securities

Security Type

Security Class Title

Fee Calculation or Carry Forward Rule

Amount Registered

Proposed Maximum Offering Price Per Unit

Maximum Aggregate Offering Price(1)(2)

Fee Rate

Amount of Registration Fee

Newly Registered Securities

Fees to be Paid

Equity

Common Stock, $0.001 par value

457

(o)

$

5,000,000

0.0000927

$

463.50

Carry Forward Securities

Carry Forward Securities

Total Offering Amounts

$

5,000,000

Total Fees Previously Paid

$

426.42

Total Fee Offsets

–

Net Fee Due

$

37.08

(1)

Includes additional shares of common stock that may be issued upon exercise of a 45-day option granted to the underwriters to cover over-allotments, if any. Also includes an indeterminate number of securities that may become offered, issuable or sold to prevent dilution resulting from stock splits, stock dividends and similar transactions, which are included pursuant to Rule 416 under the Securities Act of 1933, as amended (the “Securities Act”).

(2)

Estimated solely for the purpose of calculating the registration fee pursuant to Rule 457(o) promulgated under the Securities Act.