Company: FTII
Filing Date: 2025-01-21
Form Type: 10-Q/A
Source: 0001493152-25-003104
Chunk: 16

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-01-21
Form: 10-Q/A
Chunk 16
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 fair value. Conditionally redeemable common stock (including common stock that features redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control) is classified as temporary equity. At all other times, common stock is classified as stockholders’ equity. The Company’s Class A common stock features certain redemption rights that are considered by the Company to be outside of the Company’s control and subject to the occurrence of uncertain future events. Accordingly, at June 30, 2024 and December 31, 2023, the Class A common stock subject to possible redemption in the amount of $ 26,262,604and $ 61,226,803, respectively, is presented as temporary equity, outside of the stockholders’ equity section of the Company’s unaudited condensed balance sheets. The decrease of $ 34,964,199during the six months ended June 30, 2024 in the Class A common stock subject to possible redemption is due to a redemption of $ 36,281,990offset by accretion to the redemption value of $ 955,948and amounts due from Sponsor of $ 361,843during the 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.

Schedule Of Common Stock Reflected On Balance Sheet Reconciled

| 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                 |     |