Company: FTII
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011790
Chunk: 54

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-05-20
Form: 10-Q
Item: Item 8
Chunk 54
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, 2025 and incorporated herein by reference. 

Results of Operations

We have neither engaged in
any operations nor generated any revenues to date. Our only activities from inception to March 31, 2025 were organizational activities,
those necessary to prepare for the Initial Public Offering (“Initial Public Offering”), conducting the Initial Public Offering
and identifying a target company for a business combination. The Company will not generate any operating revenues until after the completion
of its initial Business Combination, at the earliest. The Company will generate non-operating income in the form of interest income on
cash and cash equivalents from the proceeds derived from the Initial Public Offering We incur expenses as a result of being a public company
(for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses.

For the three months ended
March 31, 2025, we had net loss of $289,673, which consisted of investment income of $199,826, offset by expenses of $453,835 and tax
expense of $35,664. Investment income was lower in 2025 compared to 2024 due to the decrease in trust assets. Expenses were higher in
2025 compared to 2024 due to due diligence costs related to a potential business combination transaction.

For the three months ended
March 31, 2024, we had net income of $129,577, which consisted of investment income of $536,343, partially offset by expenses of $310,934
and tax expense of $95,832.

Liquidity and Capital Resources

In connection with the
Company’s assessment of going concern considerations in accordance with Financial Accounting Standard Board’s Accounting
Standards Update (“ASU”) 2014-15, “Disclosures of Uncertainties about an Entity’s Ability to Continue as a
Going Concern,” the Company has until August 18, 2025 to complete a Business Combination. It is uncertain that the Company
will be able to consummate an initial Business Combination by this time. If an initial Business Combination is not consummated by
this date and the Company has not exercised its option to extend the deadline, there will be a mandatory liquidation and subsequent
dissolution of the Company. These factors, among others, raise substantial doubt about the Company’s ability to continue as a
going concern. The unaudited condensed financial statements do not include any adjustments that might result from the
Company’s inability to continue as a going concern.

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