Company: FTII
Filing Date: 2025-04-09
Form Type: 10-K
Source: 0001641172-25-003384
Chunk: 120

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-04-09
Form: 10-K
Item: Item 9C
Chunk 120
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 over-the-counter market. In addition, as disclosed in the Registration/Proxy Statement on Form S-4 filed with the
SEC on February 14, 2025, the Company intends to make a listing application for the securities of the combined company to be traded on
Nasdaq.

    F-15

Note
2 - Summary of Significant Accounting Policies (Continued)

Recent
Accounting Standards

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic
280): Improvements to Reportable Segment Disclosures. The amendments in this ASU require disclosures, on an annual and interim basis,
of significant segment expenses that are regularly provided to the chief operating officer decision maker (“CODM”), as well
as the aggregate amount of other segment items included in the reported measure of segment profit or loss. The ASU requires that a public
entity disclose the title and position of the CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or
loss in assessing segment performance and deciding how to allocate resources. Public entities will be required to provide all annual disclosures
currently required by Topic 280 in interim periods, and entities with a single reportable segment are required to provide all the disclosures
required by the amendments in this ASU and existing segment disclosures in Topic 280. This ASU is effective for fiscal years beginning
after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The
Company adopted ASU 2023-07 in the fiscal year 2024 and there was no significant impact.

Management does not believe that any recently issued, but not yet effective,
accounting pronouncements, if currently adopted, would have a material effect on the Company’s financial statements.

Note
3 - Public Offering

Pursuant
to the Initial Public Offering and full exercise of the underwriters’ overallotment option, the Company sold 11,500,000 Units at
a purchase price of $10.00 per Unit. Each Unit consists of one share of Class A common stock and one redeemable warrant (“Public
Warrant”). Each Public Warrant will entitle the holder to purchase one share of Class A common stock at an exercise price of $11.50
per share (see Note 7).

Note
4 - Private Placement

Simultaneously
with the closing of the Initial Public Offering, the Sponsor purchased an