Company: FTII
Filing Date: 2025-02-14
Form Type: S-4
Source: 0001493152-25-006997
Chunk: 440

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-02-14
Form: S-4
Chunk 440
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 |   |   (519,123 | ) |     |     |  157.2 | %  |
| Net                
 loss               |     | $                  |    (75,532 | ) |     | $ | (1,260,267 | ) |     |     |        |    |

Research and Development

Research and development expenses decreased 29.8% from $1.0 million in the year ended December 31, 2022 to $0.7 million in the year ended December 31, 2023. Research and development consisted primarily of $0.5 million in salaries and benefits and $0.2 million for rent in 2023. Research and development consisted primarily of $0.5 million in salaries and benefits, $0.1 million in stock-based compensation, $0.2 million for rent and $0.2 million in contract services associated with our LBI-001 program for RVO in 2022.

General and Administrative

General and administrative expenses decreased 8.2% from the year ended December 31, 2022 to the year ended December 31, 2023. General and administrative expenses consisted primarily of $0.6 million in salaries and benefits and $0.1 million in rent in the year ended December 31, 2023. In the year ended December 31, 2022, general and administrative expenses consisted primarily of $0.6 million in salaries and benefits and $0.1 million in rent.

| 242 |

Total Other (Income)/Expense

Total other income increased 157.2% from $0.5 million in the year ended December 31, 2022 to $1.3 million in the year ended December 31, 2023. Total other income for the year ended December 31, 2023 was comprised of income of $1.4 million recognized under a management services agreement with the Company, a related party, offset by interest expense of $0.1 million. Total other income for the year ended December 31, 2022 was comprised of income of $0.6 million recognized under a management services agreement with the Company, a related party, offset by interest expense of $0.1 million.

Liquidity and Capital Resources

Since our inception, our primary sources of capital have been proceeds from debt and equity financings.

Cash Flows

The following table summarizes our cash flow data for the periods presented:

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