Company: FTII
Filing Date: 2025-02-14
Form Type: S-4
Source: 0001493152-25-006997
Chunk: 431

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-02-14
Form: S-4
Chunk 431
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     |  139.5 | %  |
| Operating                     
 income (loss)                 |     | $                  | (40,719 | ) |     | $ |  103,012 |   |     |     |        |    |
| Total                         
 other expense                 |     |                    |   2,500 |   |     |   |    2,500 |   |     |     |      — | %  |
| Net                           
 income (loss)                 |     | $                  | (43,219 | ) |     | $ |  100,512 |   |     |     |        |    |

| 235 |

Research and Development

Research and development expenses increased 126.6% from a recovery in expenses of $114,000 in the year ended December 31, 2022 to an expense of $30,000 in the year ended December 31, 2023. During the year ended December 31, 2023, research and development expenses included $16,000 in license fees and $15,000 associated with product patents. The year ended December 31, 2022 includes the reversal of an accrued expense from the prior year for minimum annual royalties due to JHU as the result of an amendment to the license agreement entered into in 2022, as described above. The amendment to the JHU license cancelled all minimum royalties that were due at the date of the amendment, which relieved the liability that had been accrued for $0.2 million, resulting in a reduction to expense in the year ended December 31, 2022.

General and Administrative

General and administrative expenses decreased 5.2% from $11,000 in the year ended December 31, 2022 to $10,000 in the year ended December 31, 2023. The decrease is primarily the result of a reduction in professional fees.

Total Other Expense

Total other expense remained constant in the years ended December 31, 2023 and 2022 at $2,500. The $2,500 represents interest incurred on notes payable.

Liquidity and Capital Resources

Since our inception, our primary sources of capital have been proceeds from debt and equity financings.

Cash Flows

The following table summarizes our cash flow data for the periods presented:

|                                       |     | Nine                       
 Months Ended September 30, 
 2024                       |         |   |     | 2023 |         |   |     | Year