Company: FTII
Filing Date: 2025-02-14
Form Type: S-4
Source: 0001493152-25-006997
Chunk: 433

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-02-14
Form: S-4
Chunk 433
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Cash provided by financing activities in the year ended December 31, 2022 was from proceeds received upon the issuance of 20,000 Series A preferred stock units at a per unit price of $2.50 in February 2022.

Going Concern

Since inception we have been engaged in organizational activities, including raising capital and research and development activities. We have not generated revenues and have not yet achieved profitable operations, nor have we ever generated positive cash flow from operations. We had a net loss of $25,630 for the nine months ended September 30, 2024 and net loss of $43,219 for the year ended December 31, 2023 and had an accumulated deficit of $0.8 million at September 30, 2024.

There is no assurance that profitable operations, if achieved, could be sustained on a continuing basis.

We are subject to those risks associated with any clinical stage biotech company that has substantial expenditures for research and development. There can be no assurance that our research and development projects will be successful, that products developed will obtain necessary regulatory approval, or that any approved product will be commercially viable. In addition, we operate in an environment of rapid technological change and are largely dependent on the services of our employees and consultants. Further, our future operations are dependent on the success of our efforts to raise additional capital. These uncertainties raise substantial doubt about our ability to continue as a going concern for 12 months after the issuance date of our financial statements. The accompanying financial statements have been prepared on a going concern basis. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the possible inability of the company to continue as a going concern, which contemplates the continuation of operations, realization of assets and liquidation of liabilities in the ordinary course of business. We anticipate incurring additional losses until such time, if ever, that we can generate significant revenue from our product candidates currently in development. Our primary source of capital has been the issuance of debt and equity securities. We believe that current cash is insufficient to fund operations. Additional financings will be needed by us to fund our operations, to complete development of and to commercially develop our product candidate. Additional capital needed to fund operations will be raised following the closing of the business combination. There is no assurance that such financing will be available when needed or on acceptable terms.

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Licensing and Other Arrangements

In April