Company: FTII
Filing Date: 2025-04-09
Form Type: 10-K
Source: 0001641172-25-003384
Chunk: 443

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-04-09
Form: 10-K
Item: Item 1A
Chunk 443
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859,305 due to cash withdrawn from the Trust Account
of $37,509,794 and cash that was in transit to the Trust Account as of December 31, 2023, partially offset by cash deposited into the
Trust Account of $775,489 and $125,000 cash in transit to the trust.

For
the year ended December 31, 2023, cash provided by investing activities was $61,821,521 due to cash withdrawn from the Trust Account
of $64,746,521, partially offset by cash deposited into the Trust Account of $2,800,000 and $125,000 cash in transit to the trust.

For
the year ended December 31, 2024, cash provided by financing activities was $34,894,533 due to $36,281,990 in cash paid for redemptions,
partially offset by $437,456 in capital contributions from the Sponsor and proceeds from issuance of debt – related party of $1,025,001.

For
the year ended December 31, 2023, cash used in financing activities was $60,300,590 due to $64,238,887 in cash paid for redemptions,
partially offset by $2,925,000 in proceeds from Sponsor note, and $1,013,297 in capital contributions from the Sponsor.

Off-Balance
Sheet Financing Arrangements

We
have no obligations, assets or liabilities, which would be considered off-balance sheet arrangements as of December 31, 2024. We do not
participate in transactions that create relationships with unconsolidated entities or financial partnerships, often referred to as variable
interest entities, which would have been established for the purpose of facilitating off-balance sheet arrangements. We have not entered
into any off-balance sheet financing arrangements, established any special purpose entities, guaranteed any debt or commitments of other
entities, or purchased any non-financial assets.

Contractual
Obligations

We
do not have any long-term debt, capital lease obligations, operating lease obligations or long-term liabilities. The underwriter is entitled
to a deferred fee of three percent (3.00%) of the gross proceeds of the Offering upon closing of the Business Combination, or $3,450,000.
The deferred fee will be paid in cash upon the closing of a Business Combination from the amounts held in the Trust Account, subject
to the terms of the underwriting agreement.

Critical
Accounting