Company: FTII
Filing Date: 2025-01-28
Form Type: 10-Q
Source: 0001493152-25-004006
Chunk: 111

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-01-28
Form: 10-Q
Item: Part I, Item 8
Chunk 111
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 Company is required to cease all operations, except for the purpose of winding up,
if a Business Combination is not consummated by such date. It is uncertain that the Company will be able to consummate an initial Business
Combination by this time. If an initial Business Combination is not consummated by this date, there will be a mandatory liquidation and
subsequent dissolution of the Company. These factors, among others, raise substantial doubt about the Company’s ability to continue
as a going concern. The unaudited condensed financial statements do not include any adjustments that might result from the Company’s
inability to continue as a going concern.

Risks
and Uncertainties

Management
continues to evaluate the impact of the COVID-19 pandemic and has concluded that while it is possible that the virus could have a negative
effect on the Company’s financial position, results of its operations and/or search for a target company, the specific impact is
not readily determinable as of the date of the unaudited condensed financial statements. The unaudited condensed financial statements
do not include any adjustments that might result from the outcome of this uncertainty.

In
February 2022, the Russian Federation and Belarus commenced a military action with the country of Ukraine. As a result of this action,
various nations, including the United States, have instituted economic sanctions against the Russian Federation and Belarus. Separately,
in October 2023, Israel and certain Iranian-backed Palestinian forces began an armed conflict in Israel, the Gaza Strip, and surrounding
areas, which threatens to spread to other Middle Eastern countries including Lebanon and Iran. The impact of these conflicts and related
sanctions on the world economy are not determinable as of the date of these unaudited condensed financial statements. The specific impact
on the Company’s financial condition, results of operations, and cash flows is also not determinable as of the date of these unaudited
condensed financial statements.

    F-7

Note
1 – Description of Organization and Business Operations, Going Concern and Basis of Presentation (Continued)

On
August 16, 2022, the Inflation Reduction Act of 2022 (the “IR Act”) was signed into federal law. The IR Act provides for,
among other things, a new U.S. federal 1% excise tax on certain repurchases (including redemptions) of stock by publicly traded domestic
(i.e., U.S.) corporations and certain domestic subsidiaries of publicly traded foreign corporations.