Company: FTII
Filing Date: 2025-04-09
Form Type: 10-K
Source: 0001641172-25-003384
Chunk: 243

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-04-09
Form: 10-K
Item: Item 11
Chunk 243
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 and thereafter to hold all funds in the Trust Account in an interest bearing bank demand
deposit account until the earlier of consummation of an initial business combination or liquidation of the Company.

    F-12

Note
2- Summary of Significant Accounting Policies (Continued)

As
of December 31, 2024 and December 31, 2023, the Company had $26,447,350 and $61,839,164 in an interest bearing bank demand deposit account,
respectively, held in the Trust Account.

Offering
Costs Associated with the Initial Public Offering

The
Company complies with the requirements of the Financial Accounting Standards Board ASC 340-10-S99-1 and SEC Staff Accounting Bulletin
(“SAB”) Topic 5A, “Expenses of Offering.” Offering costs of $513,352 consist principally of costs
incurred in connection with formation of the Company and preparation for the Initial Public Offering. These costs, together with the
underwriter discount of $1,725,000 were charged to additional paid-in capital upon completion of the Initial Public Offering.

Class
A Common Stock Subject to Possible Redemption

The
Company accounts for its common stock subject to possible redemption in accordance with the guidance enumerated in ASC 480 “Distinguishing
Liabilities from Equity.” Common stock subject to mandatory redemption is classified as a liability instrument and is measured
at 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 December 31, 2024 and December 31, 2023, the Class A common
stock subject to possible redemption in the amount of $9,080,744 and $61,226,803, respectively, is presented as temporary equity, outside
of the stockholders’ deficit section of the Company’s balance sheets. The decrease of $52,146,059 during the year
ended December 31, 2024 in the Class A common stock subject to possible redemption is due to a redemption of $36,281,990 and a redemption
amount payable of $17