Company: FTII
Filing Date: 2025-04-09
Form Type: 10-K
Source: 0001641172-25-003384
Chunk: 296

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-04-09
Form: 10-K
Item: Item 14
Chunk 296
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 stock (including common stock that features redemption rights that are either within the
control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control)
is classified as temporary equity. At all other times, common stock is classified as stockholders’ equity. The Company’s
Class A common stock features certain redemption rights that are considered by the Company to be outside of the Company’s control
and subject to the occurrence of uncertain future events. Accordingly, at December 31, 2024 and December 31, 2023, the Class A common
stock subject to possible redemption in the amount of $9,080,744 and $61,226,803, respectively, is presented as temporary equity, outside
of the stockholders’ deficit section of the Company’s balance sheets. The decrease of $52,146,059 during the year
ended December 31, 2024 in the Class A common stock subject to possible redemption is due to a redemption of $36,281,990 and a redemption
amount payable of $17,744,312 offset by accretion to the redemption value of $1,518,400 and amounts due from Sponsor of $361,843.

As
of December 31, 2024 and December 31, 2023, the shares of common stock subject to possible redemption reflected on the balance sheets are
reconciled in the following table.

 Schedule of Common Stock Reflected on Balance Sheet Reconciled

    Ending Balance as of December 31, 2022 
    $118,466,326 
  
    Redemption of Class A common stock 
     (64,238,888)
  
    Remeasurement of carrying value to redemption value 
     6,552,136 
  
    Due from Sponsor 
     447,229 
  
    Ending Balance as of December 31, 2023 
     61,226,803 
  
    Redemption of Class A common stock 
     (36,281,990)
  
    Remeasurement of carrying value to redemption value 
     1,518,400 
  
    Redemption amount payable 
     (17,744,312)
  
    Due from Sponsor 
     361,843 
  
    Ending Balance as of December 31, 2024 
    $9,080,744 

Warrant
Instruments 

The
Company accounts for the Public Warrants and the Private Placement Warrants issued in connection with