Company: FTII
Filing Date: 2025-02-14
Form Type: S-4
Source: 0001493152-25-006997
Chunk: 630

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-02-14
Form: S-4
Chunk 630
---
 if completed, would provide the Company with funding. After the business combination, the financing of the Cerevast programs will be dependent on the parent company’s ability to raise additional financing through debt or equity transactions. If the business combination transaction is not completed, the Company will need to seek additional funding and if not successful will need to reevaluate its operating plan and may be required to delay or discontinue its operational initiatives.

As a result of the above and in connection with the Company’s assessment of going concern considerations, management has determined that it lacks the liquidity it needs to sustain operations for a reasonable period of time, which is considered to be one year from the issuance date of these financial statements and therefore raises substantial doubt about the Company’s ability to continue as a going concern. These financial statements do not include any adjustments relating to the recovery of the recorded assets or the classification of the liabilities that might be necessary should the Company be unable to continue as a going concern.

Basis of presentation

The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”).

| F-108 |

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

NOTES TO FINANCIAL STATEMENTS</div>

Note 2 – Summary of Significant Accounting Policies

Use of estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Cash

The Company considers cash and temporary investments with original maturities of three months or less, to be cash and cash equivalents. The Company evaluates the creditworthiness of these financial institutions in determining the risk associated with these balances. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk related to cash. As of December 31, 2023 and 2022, the Company did not have any cash equivalents.

Concentration of Credit Risk

Financial instruments which subject the Company to a concentration of credit risk consists of cash. The Company maintains its day-to-day operating cash balances with a major financial institution. The Company has not experienced any loss as a result of these deposits.

Property and Equipment, net

Property and equipment, net is recorded at cost and depreciated or amortized using the straight-line method over the estimated useful