Company: FTII
Filing Date: 2025-08-22
Form Type: 10-Q
Source: 0001641172-25-025250
Chunk: 57

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-08-22
Form: 10-Q
Item: Item 8
Chunk 57
---
 the Company
will be able to consummate an initial Business Combination by this time. If an initial Business Combination is not consummated by this
date and the Company has not exercised its option to extend the deadline, there will be a mandatory liquidation and subsequent dissolution
of the Company. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern.
The unaudited condensed financial statements do not include any adjustments that might result from the Company’s inability to continue
as a going concern.

9

The
Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Cash
equivalents are carried at cost, which approximates fair value. The Company had $160,723 in cash and no cash equivalents as of June 30,
2025.

For
the six months ended June 30, 2025, cash used in operating activities was $1,187,204. The net loss of $370,320 was affected by interest
earned on investments held in the Trust account of $272,304, and changes in operating assets and liabilities used $544,580 of cash for
operating activities.

For
the six months ended June 30, 2024, cash used in operating activities was $591,410. The net income of $85,119 was affected by interest
earned on investments held in the trust account of $819,427, and changes in operating assets and liabilities provided $142,898 of cash
for operating activities.

For
the six months ended June 30, 2025, cash provided by investing activities was $17,585,764 due to cash withdrawn from the Trust Account
of $17,822,230, partially offset by cash deposited into the Trust Account of $236,466

For
the six months ended June 30, 2024, cash provided by investing activities was $36,123,240 due to cash withdrawn from the Trust Account
of $36,498,240 and cash that was in transit to the Trust Account as of December 31, 2023, partially offset by cash deposited into the
Trust Account of $500,000 and $125,000 cash in transit to the trust.

For
the six months ended June 30, 2025, cash used in financing activities was $16,294,605 due to $17,400,674 in cash paid for redemptions,
partially offset by proceeds from Transfer