Company: FTII
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011790
Chunk: 49

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-05-20
Form: 10-Q
Item: Item 8
Chunk 49
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5, there was $713,302 outstanding under the
Working Capital Loans.

Class B Common Stock

Immediately following the
Third Extension Meeting and filing of the Third Charter Amendment with the Secretary of State of the State of Delaware, on November 22,
2024, the holders of shares of Class B Common Stock unanimously elected to convert all of their shares of Class B Common Stock to shares
of Class A Common Stock on a one-to-one basis. As a result, all of 2,875,000 shares of Class B Common Stock issued and outstanding have
been converted to 2,875,000 shares of Class A Common Stock (the “Converted Class A Common Stock”) effective November 21, 2024.
Although for the purposes of Nasdaq listing standard, the Converted Class A Common Stock is considered as listed securities, the Converted
Class A Common Stock shall remain as founder shares and is not subject to redemption and subject to transfer restrictions and lock-up
obligations. On February 4, 2025, the Company and the holders effected such conversion by delivering the required instructions to the
Company’s transfer agent. As of the date of this filing, there is zero (0) issued and outstanding shares of Class B Common Stock
of the Company.

Compliance with Nasdaq Listing Standards

As
previously disclosed, on April 23, 2024, the Company received a written notice (the “Notice”) from the Staff of Nasdaq Stock
Market LLC (the “Nasdaq”) notifying the Company that, for the last 30 consecutive business days, the Company’s Market
Value of Listed Securities was below the minimum of $50 million required for continued listing on The Nasdaq Global Market (the “Market
Value Standard”) pursuant to Nasdaq Listing Rule 5450(b)(2)(A) (the “Rule”). The Staff also noted that the Company did
not meet the requirements under Nasdaq Listing Rule 5450(b)(3)(A) (the “Total Assets/Total Revenue Standard”). An indicator
will be displayed with quotation information related to the Company’s securities on NASDAQ.com and NASDAQTrader.com and may be displayed
by other third-party providers of market data information, however, the Notice did not impact the listing of the Company’s securities
on The Nasdaq Global Market at this time.

The
Notice provided that, in accordance with Nasdaq Listing Rule 5810(c)(3)(C), the Company had a period of 180 calendar days from