Company: FTII
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011790
Chunk: 69

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-05-20
Form: 10-Q
Item: Item 2
Chunk 69
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 the Trust Account that
it was allowed to withdraw to cover income and franchise taxes and, therefore, the Second Redemption Payment should have been approximately
$11.10 per share. This meant that the Second Extension Redeeming Stockholders were overpaid in the amount of approximately $361,843 (the
“Second Extension Overpayment Amount”). On or about March 6, 2025, the Trustee of the Trust Account commenced the claw-back process in connection with the Second Extension Overpayment Amount, which is reflected in this Form 10-Q as a receivable from the Sponsor as agreed
by the Sponsor. This amount will be reduced as the Company receives the claw back payments from the Second Extension Redeeming Stockholders.

As of March 31, 2025, approximately
$409,036 in aggregate have been received in connection with the First Extension Overpayment Amount, and $285,989 in aggregate have been
received in connection with the Second Extension Overpayment Amount. The $695,024 recovered in aggregate for the First and Second Extension
Overpayments as of March 31, 2025 is included in Due from the Transfer Agent on the Company’s condensed balance sheets.

 4 

On February 18, 2024, the
Company caused to be deposited $50,000 into the Company’s Trust Account, allowing the Company to extend the period of time it has
to consummate its initial Business Combination from February 18, 2024 to March 18, 2024. On March 18, 2024, the Company caused to be deposited
$50,000 into the Company’s Trust Account, allowing the Company to extend the period of time it has to consummate its initial Business
Combination from March 18, 2024 to April 18, 2024. On April 18, 2024, the Company caused to be deposited $50,000 into the Company’s
Trust Account, allowing the Company to extend the period of time it has to consummate its initial Business Combination from April 18,
2024 to May 18, 2024. On May 18, 2024, the Company caused to be deposited $50,000 into the Company’s Trust Account, allowing the
Company to extend the period of time it has to consummate its initial Business Combination from May 18, 2024 to June 18, 2024. On June
18, 2024, the Company caused to be deposited $50,