Company: FTII
Filing Date: 2025-01-28
Form Type: 10-Q
Source: 0001493152-25-004006
Chunk: 96

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-01-28
Form: 10-Q
Item: Part I, Item 1
Chunk 96
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 trust.

For
the nine months ended September 30, 2023, cash provided by investing activities was $62,196,521 due to cash deposited into the Trust
Account of $2,550,000 and cash withdrawn from the Trust Account of $64,746,521.

For
the nine months ended September 30, 2024, cash provided by financing activities was $35,319,532 due to $36,281,990 in cash paid for redemptions,
partially offset by $437,458 in capital contributions from the Sponsor and proceeds from issuance of debt – related party of $525,000.

For
the nine months ended September 30, 2023, cash provided by financing activities was $61,487,502 due to cash paid for redemptions of $64,238,887,
proceeds from issuance of debt of $3,316,485 and $565,100 cash advanced to the Sponsor.

Off-Balance
Sheet Financing Arrangements

We
have no obligations, assets or liabilities, which would be considered off-balance sheet arrangements as of September 30, 2024. We do
not participate in transactions that create relationships with unconsolidated entities or financial partnerships, often referred to as
variable interest entities, which would have been established for the purpose of facilitating off-balance sheet arrangements. We have
not entered into any off-balance sheet financing arrangements, established any special purpose entities, guaranteed any debt or commitments
of other entities, or purchased any non-financial assets.

Contractual
Obligations

We
do not have any long-term debt, capital lease obligations, operating lease obligations or long-term liabilities. The underwriter is entitled
to a deferred fee of three percent (3.00%) of the gross proceeds of the Offering upon closing of the Business Combination, or $3,450,000.
The deferred fee will be paid in cash upon the closing of a Business Combination from the amounts held in the Trust Account, subject
to the terms of the underwriting agreement.

Critical
Accounting Policies

The
preparation of unaudited condensed financial statements and related disclosures in conformity with accounting principles generally accepted
in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and
liabilities, disclosure of contingent assets and liabilities at the date of the unaudited condensed financial statements, and income
and expenses during the periods reported. Actual results could materially differ from those