Company: FTII
Filing Date: 2025-08-22
Form Type: 10-Q
Source: 0001641172-25-025250
Chunk: 58

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-08-22
Form: 10-Q
Item: Item 8
Chunk 58
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 Agent of $695,024 and proceeds from issuance of debt – related party of $411,045.

For
the six months ended June 30, 2024, cash provided by financing activities was $35,548,932 due to $36,281,990 in cash paid for redemptions,
partially offset by $358,058 in capital contributions from the Sponsor and proceeds from issuance of debt – related party of $375,000.

Off-Balance
Sheet Financing Arrangements

We
have no obligations, assets or liabilities, which would be considered off-balance sheet arrangements as of June 30, 2025. We do not participate
in transactions that create relationships with unconsolidated entities or financial partnerships, often referred to as variable interest
entities, which would have been established for the purpose of facilitating off-balance sheet arrangements. We have not entered into
any off-balance sheet financing arrangements, established any special purpose entities, guaranteed any debt or commitments of other entities,
or purchased any non-financial assets.

Contractual
Obligations

We
do not have any long-term debt, capital lease obligations, operating lease obligations or long-term liabilities. Pursuant to the Underwriting
Agreement in relation to the IPO of the Company, upon the completion of an initial business combination, the Underwriter is entitled
to a deferred fee of three percent (3.00%) of the gross proceeds of the Offering upon closing of the Business Combination, or $3,450,000
(“Deferred Commission”). On February 6, 2025, the Company and Longevity executed a Satisfaction and Discharge of Indebtedness
Pursuant to Underwriting Agreement dated February 15, 2022 (the “Discharge Agreement”) the Underwriter. Under the Discharge
Agreement, instead of receiving the full Deferred Commission in cash at the closing of the business combination with Longevity and other
parties thereto, the Underwriter will accept (1) $500,000 in cash at the time of the closing; (2) a $1,475,000 promissory note executed
by the Company and Longevity (“D. Boral Note”) in which the Company (upon closing) is obligated to pay the Underwriter in
cash by the maturity date; and (3) 147,500 shares of the Company’s common stock, which when multiplied by the $10.00 per share
price agreed to between the parties equals $1