Company: FTII
Filing Date: 2025-04-09
Form Type: 10-K
Source: 0001641172-25-003384
Chunk: 961

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-04-09
Form: 10-K
Item: Item 3
Chunk 961
---
    Non-redeemable  
    Redeemable  
    Non-redeemable 
  
    Basic and diluted net income (loss)
    per share of common stock Numerator: Interest 
    $1,342,491  
    $-  
    $4,953,545  
    $- 
  
    Less: Allocation of expenses 
     (876,517) 
     (1,212,927) 
     (1,481,866) 
     (560,177)
  
    Less: Accretion of carrying value to redemption value 
     -  
     -  
     (1,500,215) 

    Total 
    $465,974  
    $(1,212,927) 
    $(1,971,465) 
    $(560,177)
  
    Basic and diluted net income (loss) per share
    of common stock 
    $0.18  
    $(0.35) 
    $0.21  
    $(0.16)

Recent
Accounting Standards

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic
280): Improvements to Reportable Segment Disclosures, which requires public entities to disclose significant segment expenses and other
segment items on an interim and annual basis and provide in interim periods all disclosures about a reportable segment’s profit
or loss and assets that are currently required annually. The ASU does not change how a public entity identifies its operating segments,
aggregate them, or applies the quantitative threshold to determine its reportable segments. The new disclosure requirements are also applicable
to entities that account and report as a single operating segment entity. ASU 2023-07 is effective for fiscal years beginning after December
15, 2023, and for interim periods within fiscal years beginning after December 15, 2024. The Company adopted the guidance for the annual
reporting period ended December 31, 2024. There was no impact on the Company’s financial statements.

Management
does not believe that any recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material
effect on our financial statements.

24

Item
7A. Quantitative and Qualitative Disclosures About Market Risk

Not
required for smaller reporting companies.

Item
8. Financial Statements and Supplementary Data

This
information appears following Item 15