Company: FTII
Filing Date: 2025-01-14
Form Type: 10-Q/A
Source: 0001493152-25-002175
Chunk: 36

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-01-14
Form: 10-Q/A
Chunk 36
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 as a going concern. The financial statements do not include any adjustments that might result from the Company’s inability to continue as a going concern.

The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Cash equivalents are carried at cost, which approximates fair value. The Company had $413 in cash and no cash equivalents as of March 31, 2024.

For the three months ended March 31, 2024, cash used in operating activities was $282,082. The net income of $129,577 was affected by interest earned on investments held in the trust account of $536,343, and changes in operating assets and liabilities provided $124,684 of cash for operating activities.

For the three months ended March 31, 2023, cash used in operating activities was $112,499. The net income of $807,289 was affected by interest earned on investments held in the trust account of $1,288,498, and changes in operating assets and liabilities provided $368,710 of cash for operating activities.

For the three months ended March 31, 2024, cash provided by investing activities was $36,273,240 due to cash withdrawn from the Trust Account of $36,498,240 and cash that was in transit to the Trust Account as of December 31, 2023, partially offset by cash deposited into the Trust Account of $350,000 and $125,000 cash in transit to the trust.

For the three months ended March 31, 2023, cash used in investing activities was $1,150,000 due to cash deposited into the Trust Account of $1,150,000.

For the three months ended March 31, 2024, cash used in financing activities was $36,008,323 due to $36,281,990 in cash paid for redemptions, partially offset by $48,667 in capital contributions from the Sponsor and $225,000 in proceeds from Sponsor note.

For the three months ended March 31, 2023, cash provided by financing activities was $1,150,000 due to proceeds from issuance of debt of $1,150,000.

Off-Balance Sheet Financing Arrangements

We have no obligations, assets or liabilities, which would be considered off-balance sheet arrangements as of March 31, 2024. We do not participate in transactions that create relationships with unconsolidated entities or financial partnerships, often referred