Company: FTII
Filing Date: 2025-02-14
Form Type: S-4
Source: 0001493152-25-006997
Chunk: 134

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-02-14
Form: S-4
Chunk 134
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 to raise additional capital or generate revenues as and when needed, our business, financial condition
and results of operations will be materially and adversely affected. If we are unable to continue as a going concern, we may have to liquidate
our assets, and the values we receive for our assets in liquidation or dissolution could be significantly lower than the values reflected
in our financial statements.

Longevity and each of the
Targets identified material weaknesses in its internal control over financial reporting. If our remediation of these material weaknesses
is not effective, or if we experience additional material weaknesses or otherwise fail to maintain an effective system of internal controls
in the future, we may not be able to accurately report our financial condition or results of operations.

In connection
with our preparation of the audits of Longevity, Aegeria and Cerevast’s financial statements as of December 31, 2023 and 2022, we
identified a material weakness as defined under the Securities Act of 1934, as amended, or the Exchange Act, and by the Public Company
Accounting Oversight Board in our internal control over financial reporting. A material weakness is a deficiency, or a combination of
deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of
the companies’ financial statements will not be prevented or detected on a timely basis.

The material
weaknesses identified for Longevity were insufficient controls over (i) review and approval of debt transactions, (ii) recording and approval
of journal entries (iii) identification of related party transactions and (iv) review process over the preparation of the financial statements.

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The material weaknesses identified
for Aegeria were insufficient controls over (i) segregation of duties (ii) recording and approval of journal entries (iii) the identification
of related party transactions (iv) review process over the preparation of the financial statements and (v) processing of payments.

The material
weaknesses identified for Cerevast were insufficient controls over (i) review and approval of journal entries, (ii) identification of
related party transactions, (iii) review process over the preparation of the financial statements and (iv) complex accounting transactions.

Longevity and
the Targets are working to remediate the material weakness and is taking steps to strengthen its internal control over financial reporting.
We plan to hire qualified staff as well as develop and implement formal policies, processes and documentation procedures relating to our
financial reporting, including the oversight of