Company: FTII
Filing Date: 2025-02-14
Form Type: S-4
Source: 0001493152-25-006997
Chunk: 575

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-02-14
Form: S-4
Chunk 575
---
| F-55 |

longevity biomedical, inc.

notes to the financial statements

December 31, 2023 and 2022

Note 1 – Organization and Description of Business

Description of the Business

Longevity Biomedical, Inc. (referred to as “Longevity” or the “Company”) was formed on October 26, 2021 to pursue possible acquisitions of target companies in the medical technology and life sciences industries. Longevity is run virtually with no customers or offices. Longevity is funded through debt financing provided by FutureTech Partners LLC (“FutureTech Partners”). Expenses incurred by Longevity are primarily for legal, audit and advisory costs related to the identified target acquisition companies. Longevity is incorporated in the state of Delaware.

Going Concern

The Company does not have any revenues and to date has incurred an operating loss of $2.8 million and accumulated deficit as of December 31, 2023 of $11.5 million. As of December 31, 2023, the Company had $77,768 in its operating bank account and a working capital deficit of $5.3 million. If the Company is unable to raise additional capital, it may be required to take additional measures to conserve liquidity. The Company cannot provide any assurance that new financing will be available to it on commercially acceptable terms, if at all.

The Company intends to raise capital through a combination of private equity offerings, debt, or other sources. However, if such financing is not available at adequate levels and on a timely basis, or such financing sources are not available on favorable terms or at all, as and when needed, the Company 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-56 |

longevity biomedical, inc.

notes to the financial statements