Company: FTII
Filing Date: 2025-04-09
Form Type: 10-K
Source: 0001641172-25-003384
Chunk: 31

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-04-09
Form: 10-K
Item: Item 9B
Chunk 31
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    For the Years
    Ended 

    December
    31, 2024  
    December
    31, 2023 

    Cash flows from Operating
    Activities: 

    Net income
    (loss) 
    $(746,953) 
    $2,911,502 
  
    Adjustments to reconcile
    net income (loss) to net cash used in operating activities: 

    Income earned on Interest
    Bearing Bank Demand Deposit Account held in the Trust Account 
     (1,342,491) 
     (4,809,102)
  
    Gain on forgiveness of
    debt 
     -  
     (144,443)
  
    Changes in operating assets
    and liabilities: 

    Prepaid expenses 
     64,043  
     93,571 
  
    Due from Sponsor 
     -  
     (731,912)
  
    Franchise tax payable 
     34,550  
     (105,636)
  
    Income tax payable 
     (788,498) 
     777,344 
  
    Other assets 
     -  
     77,654 
  
    Accounts
    payable and accrued expenses 
     853,767  
     164,913 
  
    Net
    cash used in operating activities 
     (1,925,582) 
     (1,766,109)

    Cash flows from Investing
    Activities: 

    Investment of cash in Trust Account 
     (775,489) 
     (2,800,000)
  
    Cash in transit to the trust 
     125,000  
     (125,000)
  
    Cash withdrawn from Trust 
     37,509,794  
     64,746,521 
  
    Net
    cash provided by investing activities 
     36,859,305  
     61,821,521 

    Cash flows from Financing
    Activities: 

    Capital contribution from
    Sponsor 
     437,456  
     1,013,297 
  
    Cash paid for redemptions 
     (36,281,990) 
     (64,238,887)
  
    Due from Related party 
     (75,000) 
     - 
  
    Proceeds
    from issuance of debt