Company: FTII
Filing Date: 2025-01-21
Form Type: 10-Q/A
Source: 0001493152-25-003104
Chunk: 45

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-01-21
Form: 10-Q/A
Chunk 45
---
 calculation of redemption price. Additionally, based on management’s assessment, we determined that there
was a material weakness in our internal control over financial reporting as of June 30, 2024.

We have identified a material weakness in our internal
control over financial reporting as of June 30, 2024. If we are unable to develop and maintain an effective system internal control
over financial reporting, we may not be able to accurately report our financial results in a timely manner, which may adversely affect
investor confidence in us and materially and adversely affect our business and operating results.

To address this material weakness, our management
has expended, and will continue to expend, a substantial amount of effort and resources for the remediation and improvement of our internal
control over financial reporting. While we have processes to properly identify and evaluate the appropriate accounting of extension loans,
redemption payments, technical pronouncements and other literature for all significant or unusual transactions, we will continue to improve
these processes to ensure that the nuances of such transactions are effectively evaluated in the context of the increasingly complex accounting
standards. In addition, we are assessing our resource needs as well as roles and responsibilities with a particular focus on accounting
and financial reporting staff and will make additional changes as needed, but we can offer no assurance that our controls will not require
additional review and modification in this future as industry accounting practices may evolve over time.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect errors or
misstatements in our financial statements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk
that controls may become inadequate because of changes in conditions, or that the degree or compliance with the policies or procedures
may deteriorate.

Changes in Internal Control Over Financial Reporting

There were no changes in our internal control over financial reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f) of the Exchange Act) that occurred during the quarter of the fiscal year covered by this Quarterly Report that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

<div align='center'>PART II - OTHER INFORMATION</div>

Item 1. Legal Proceedings

None.

Item 1A. Risk Factors

As a smaller reporting company, as defined in Rule 12b-2 of the Exchange Act, we are not required to provide the information required by this Item. Factors that could cause our actual results to differ materially from those in