Company: FTII
Filing Date: 2025-08-22
Form Type: 10-Q
Source: 0001641172-25-025250
Chunk: 62

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-08-22
Form: 10-Q
Item: Item 8
Chunk 62
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     - 
  
    Total 
    $(35,022) 
    $(525,799) 
    $(174,490) 
    $(389,814)
  
    Basic and diluted net income (loss) per share of common stock 
    $(0.04) 
    $(0.15) 
    $(0.06) 
    $(0.11)

Recent
Accounting Standards

In
November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires
public entities to disclose significant segment expenses and other segment items on an interim and annual basis and provide in interim
periods all disclosures about a reportable segment’s profit or loss and assets that are currently required annually. The ASU does
not change how a public entity identifies its operating segments, aggregate them, or applies the quantitative threshold to determine
its reportable segments. The new disclosure requirements are also applicable to entities that account and report as a single operating
segment entity. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years
beginning after December 15, 2024. The Company adopted the guidance for the annual reporting period ended December 31, 2024. There was
no impact on the Company’s unaudited condensed financial statements.

Management
does not believe that any recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material
effect on our unaudited condensed financial statements.

11

Subsequent
Events

Extension
of Business Combination Period

On
July 18, 2025, the Company caused to be deposited $38,994 into the Company’s Trust account, allowing the Company to extend the
period of time it has to consummate its initial Business Combination from July 18, 2025 to August 18, 2025. 

Amended
and Restated Merger Agreement

On
August 6, 2025, the Company, entered into an Amended and Restated Agreement and Plan of Merger (the “Amended Merger Agreement”),
by and among the Company, Longevity Biomedical Holdings Corp., a Delaware corporation (“PubCo”), LBH Merger Sub, Inc., a
Delaware corporation and direct, wholly-owned subsidiary of the Company (“Merger Sub”), Longevity and Andrew Leo,