Company: FTII
Filing Date: 2025-01-21
Form Type: 10-Q/A
Source: 0001493152-25-003104
Chunk: 42

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-01-21
Form: 10-Q/A
Chunk 42
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 six months ended June 30, 2024.

As of June 30, 2024 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 |   |

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 June 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 earnings 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