Company: FTII
Filing Date: 2025-02-14
Form Type: S-4
Source: 0001493152-25-006997
Chunk: 636

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-02-14
Form: S-4
Chunk 636
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 the revised notes retained the original note interest rate of 5%. The FutureTech Partners II LLC note and the FutureTech II Acquisition Corp note were each subsequently repaid in full in 2022.

The Company repaid $300,000 of the FutureTech Partners LLC note plus accrued interest of $6,767 in 2022.

The FutureTech Partners LLC note matured on October 11, 2022 without repayment. No demand for repayment has been made. The note principal plus accrued interest is $108,877 and $103,877 as of December 31, 2023, and 2022, respectively.

| F-113 |

<div align='center'>CEREVAST MEDICAL, INC.

NOTES TO FINANCIAL STATEMENTS</div>

Note 6 – Related Party Transactions

Cerevast has several related parties, primarily as a result of its relationship with Haiyin Capital, a Beijing China based venture capital firm. Haiyin Capital, through investment funds under management, owns approximately 72% of Cerevast’s issued and outstanding shares of stock as of December 31, 2023 and 2022, respectively. Representatives of Haiyin Capital hold 2 of Cerevast’s 3 board of directors positions.

As further described in Note 5, the Company has borrowed money through promissory notes from FutureTech Partners LLC, FutureTech Partners II LLC, and FutureTech II Acquisition Corp, each investment funds under management by Haiyin Capital.

The Chief Executive Officer (“CEO”) of Cerevast is also the sole board member and CEO of a company called Longevity Biomedical, Inc. (“Longevity”). Longevity was formed in October 2021 to pursue possible acquisitions of target companies in the medical technology and life sciences industries. Cerevast is one of the possible acquisition targets.

On May 1, 2022, Cerevast entered into a management services agreement with Longevity pursuant to which Cerevast provides management, business, operational, financial, strategic and advisory services for a fee of $65,000 per month beginning on May 1, 2022. Effective November 1, 2022, the agreement was amended to increase the management fee to $120,000 per month. The agreement has a term of six months, with automatic one-month renewal periods unless cancelled upon 30 days’ notice by either party. The Company recognized other income of $1,440,000 and $630