Company: FTII
Filing Date: 2025-02-14
Form Type: S-4
Source: 0001493152-25-006997
Chunk: 442

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-02-14
Form: S-4
Chunk 442
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Operating Activities

Cash provided by operating activities in the year ended December 31, 203 was attributable to an increase in accrued interest in notes payable and non-cash lease expenses offset by our net loss and a reduction in our operating lease obligation. Cash used in operating activities in the year ended December 31, 2022 was attributable to our net loss offset by stock based compensation, the amortization of our right of use asset, and an increase in accrued interest on notes payable.

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Investing Activities

Cash used in investing activities in the year ended December 31, 2023 is related to the purchase of office equipment. There were no investing activities in the year ended December 31, 2022.

Financing Activities

There were no financing activities in the year ended December 31, 2023. Cash used in financing activities in the year ended December 31, 2022 is the result of $0.5 million repayment of debt offset by proceeds from the issuance of debt of $0.3 million.

Going Concern

Since inception we have been engaged in organizational activities, including raising capital and research and development activities. We have not generated revenues and have not yet achieved profitable operations, nor have we ever generated positive cash flow from operations. We incurred a net income of $4,325 for the nine months ended September 30, 2024 and a net loss $75,532 for the year ended December 31, 2023 and had an accumulated deficit of $23.0 million at September 30, 2024.

There is no assurance that profitable operations, if achieved, could be sustained on a continuing basis.

We are subject to those risks associated with any clinical stage biotech company that has substantial expenditures for research and development. There can be no assurance that our research and development projects will be successful, that products developed will obtain necessary regulatory approval, or that any approved product will be commercially viable. In addition, we operate in an environment of rapid technological change and are largely dependent on the services of our employees and consultants. Further, our future operations are dependent on the success of the Company’s efforts to raise additional capital. These uncertainties raise substantial doubt about our ability to continue as a going concern for 12 months after the issuance date of our financial statements. The accompanying financial statements have been prepared on a going concern basis. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from