Company: FTII
Filing Date: 2025-01-28
Form Type: 10-Q
Source: 0001493152-25-004006
Chunk: 12

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-01-28
Form: 10-Q
Item: Part I, Item 2
Chunk 12
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 maturity of three months or less to be cash equivalents. Cash
equivalents are carried at cost, which approximates fair value. The Company had $1,883 in cash and no cash equivalents as of September
30, 2024.

For
the nine months ended September 30, 2024, cash used in operating activities was $834,803. The net loss of $38,005 was affected by interest
earned on investments held in the trust account of $1,107,012, and changes in operating assets and liabilities provided $310,214 of cash
for operating activities.

For
the nine months ended September 30, 2023, cash used in operating activities was $966,279. The net income of $2,304,899 was affected by
interest earned on investments held in the trust account of $3,989,390, and changes in operating assets and liabilities provided $718,212
of cash for operating activities.

For
the nine months ended September 30, 2024, cash provided by investing activities was $36,138,640 due to cash withdrawn from the Trust
Account of $36,663,640 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 $650,000 and $125,000 cash in transit to the 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Account of $2,550,000 and cash withdrawn from the Trust Account of $64,746,521.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