Company: FTII
Filing Date: 2025-04-09
Form Type: 10-K
Source: 0001641172-25-003384
Chunk: 257

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-04-09
Form: 10-K
Item: Item 11
Chunk 257
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ative
Support Agreement

Commencing
on the date the Units are first listed on Nasdaq, the Company has agreed to pay the Sponsor a total of $10,000
per month for office space, utilities and secretarial and administrative support for up to 18 months. Upon completion of the initial
Business Combination or the Company’s liquidation, the Company will cease paying these monthly fees. During the years ended
December 31, 2024 and 2023, the Company recorded $120,000
of administrative expenses annually. As of December 31, 2024 and December 31, 2023, the Company had $340,000
and $220,000, respectively,
in administrative expenses included in accounts payable and accrued expenses on the Company’s balance sheets.

Other
Payable

As
of December 31, 2024, the Company had a payable amount of $17,744,312 associated with the November 2024 redemption. This amount is included
in the Other Payable on the Company’s balance sheets.

Representative
Shares

The
Company issued to EF Hutton and/or its designees, 115,000 shares of Class A common stock upon the Initial Public Offering. EF Hutton
has agreed not to transfer, assign or sell any such common stock until the completion of the Company’s initial Business Combination.
In addition, EF Hutton has agreed (i) to waive its redemption rights with respect to such common stock in connection with the completion
of the Company’s initial Business Combination and (ii) to waive its rights to liquidating distributions from the Trust Account
with respect to such common stock if the Company fails to complete its initial Business Combination within the Combination Period.

    F-19

Note
5 - Related Party Transactions (Continued)

The
representative shares have been deemed compensation by FINRA and are therefore subject to a lock-up for a period of 180 days immediately
following the commencement of sales in the Initial Public Offering pursuant to Rule 5110(e)(1) of FINRA’s NASD Conduct Rules. Pursuant
to FINRA Rule 5110(e)(1), these securities may not be sold, transferred, assigned, pledged or hypothecated or the subject of any hedging,
short sale, derivative, put or call transaction that would result in the economic disposition of the securities by any person for a period
of 180 days immediately following the effective date of the registration statement for the Initial Public Offering, nor may they