Company: FTII
Filing Date: 2025-01-14
Form Type: 10-Q/A
Source: 0001493152-25-002175
Chunk: 21

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-01-14
Form: 10-Q/A
Chunk 21
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2023 to November 18, 2023. On December 18, 2023, the Company caused to be deposited $ 125,000into the Company’s Trust Account, allowing the Company to extend the period of time it has to consummate its initial Business Combination from December 18, 2023 to January 18, 2024. On January 18, 2024, the Company caused to be deposited $ 125,000into the Company’s Trust Account, allowing the Company to extend the period of time it has to consummate its initial Business Combination from January 18, 2024 to February 18, 2024. On February 18, 2024, the Company caused to be deposited $ 50,000into the Company’s Trust Account, allowing the Company to extend the period of time it has to consummate its initial Business Combination from February 18, 2024 to March 18, 2024. On March 18, 2024, the Company caused to be deposited $ 50,000into the Company’s Trust Account, allowing the Company to extend the period of time it has to consummate its initial Business Combination from March 18, 2024 to April 18, 2024. On April 18, 2024, the Company caused to be deposited $ 50,000into the Company’s Trust Account, allowing the Company to extend the period of time it has to consummate its initial Business Combination from April 18, 2024 to May 18, 2024. As of March 31, 2024 and December 31, 2023 and, there was $ 3,150,000and $ 2,925,000outstanding under the Extension Loans, respectively.

Due from Sponsor

As of March 31, 2024 and December 31, 2023 the Company had paid a total of $ 1,613,805and $ 1,179,141, respectively, in expenses that will be reimbursed by the Sponsor. This amount includes the amount overpaid to redeeming shareholders in August 2023 and February 2024.

Administrative Support Agreement

Commencing on the date the Units are first listed on Nasdaq, the Company has agreed to pay the Sponsor a total of $ 10,000per month for office space, utilities and secretarial and administrative support for up to 18 months. Upon completion of the initial Business Combination or the Company’s liquid