Company: FTII
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011790
Chunk: 36

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-05-20
Form: 10-Q
Item: Item 8
Chunk 36
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    Description: 
    Level 
    March 31, 2025  
    December 31, 2024 
  
    Assets: 

    Interest Bearing Bank Demand Deposit held in trust account 
    1 
    $9,020,580  
    $26,447,350 

     F-20 

Note 9 – Segment Information

ASC Topic 280, “Segment Reporting,”
establishes standards for companies to report in their financial statement information about operating segments, products, services, geographic
areas, and major customers. Operating segments are defined as components of an enterprise for which separate financial information is
available that is regularly evaluated by the Company’s chief operating decision maker, or group, in deciding how to allocate resources
and assess performance.

The Company’s chief operating decision maker
has been identified as the Chief Executive Officer (“CODM”), who reviews the operating results for the Company as a whole
to make decisions about allocating resources and assessing financial performance. Accordingly, management has determined that the Company
only has one operating segment.

When evaluating the Company’s performance
and making key decisions regarding resource allocation, the CODM reviews several key metrics, formation and operational costs and interest
earned on cash held in Trust Account which include the accompanying unaudited condensed statements of operations.

The key measures of segment profit or loss reviewed
by our CODM are interest earned on cash held in Trust Account and formation and operational costs. The CODM reviews interest earned on
cash held in Trust Account to measure and monitor stockholder value and determine the most effective strategy of investment with the Trust
Account funds while maintaining compliance with the trust agreement. Formation and operational costs are reviewed and monitored by the
CODM to manage and forecast cash to ensure enough capital is available to complete a business combination within the business combination
period. The CODM also reviews formation and operational costs to manage, maintain and enforce all contractual agreements to ensure costs
are aligned with all agreements and budget.

Note 10 – Subsequent Events

The Company evaluated subsequent events and transactions
that occurred after the balance sheet date. Based upon this review the Company did not identify any subsequent events, other than those
noted below, that would have required adjustment or disclosure in the unaudited condensed financial statements.

Zero Interest Convertible
Notes

On April 7, 2025,
the Company signed Zero Interest Convertible Notes dated April 4, 2025 and April 7, 2025 (each