Company: FTII
Filing Date: 2025-01-28
Form Type: 10-Q
Source: 0001493152-25-004006
Chunk: 98

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-01-28
Form: 10-Q
Item: Part I, Item 1
Chunk 98
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4 and December 31, 2023, the shares of common stock reflected on the unaudited condensed balance sheets are reconciled
in the following table.

    Ending Balance as of December 31, 2022 
    $118,466,326 
  
    Redemption of Class A common stock 
     (64,238,888)
  
    Remeasurement of carrying value to redemption value 
     6,552,136 
  
    Due from Sponsor 
     447,229 
  
    Ending Balance as of December 31, 2023 
     61,226,803 
  
    Redemption of Class A common stock 
     (36,281,990)
  
    Remeasurement of carrying value to redemption value 
     615,511 
  
    Due from Sponsor 
     361,843 
  
    Ending Balance as of March 31, 2024 
     25,922,167 
  
    Remeasurement of carrying value to redemption value 
     340,437 
  
    Ending Balance as of June 30, 2024 
     26,262,604 
  
    Remeasurement of carrying value to redemption value 
     343,991 
  
    Ending Balance as of September 30, 2024 
    $26,606,595 

Net
Income (Loss) Per Share

Net
income (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding
during the period. The Company applies the two-class method in calculating earnings per share. Earnings and losses are shared pro rata
between the two classes of shares. As of September 30, 2024 and 2023, the calculation of diluted income (loss) per share of common stock
does not consider the effect of the warrants issued in connection with the (i) Initial Public Offering and (ii) sale of the Private Placement
Units (the “Placement Warrants”) because the warrants are contingently exercisable, and the contingencies have not yet been
met . As a result, diluted income (loss) per share is the same as basic income (loss) per share for the periods presented.

The
following table reflects the calculation of basic and diluted net income (loss) per share (in dollars, except per share amounts):

    Three Months Ended  
    Three Months Ended 

    September 30, 2024  
    September