Company: FTII
Filing Date: 2025-01-28
Form Type: 10-Q
Source: 0001493152-25-004006
Chunk: 63

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-01-28
Form: 10-Q
Item: Part I, Item 1
Chunk 63
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 (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 
     615,511 
  
    Due from Sponsor 
     361,843 
  
    Ending Balance as of March 31, 2024 
     25,922,167 
  
    Remeasurement of carrying value to redemption value 
     340,437 
  
    Ending Balance as of June 30, 2024 
     26,262,604 
  
    Remeasurement of carrying value to redemption value 
     343,991 
  
    Ending Balance as of September 30, 2024 
    $26,606,595 

Warrant
Instruments 

The
Company accounts for the Public Warrants and the Private Placement Warrants issued in connection with the Initial Public Offering and
the Private Placement in accordance with the guidance contained in FASB ASC 815, “Derivatives and Hedging”. Under ASC 815-40
the Public Warrants and the Private Placement Warrants meet the criteria for equity treatment and as such will be recorded in stockholders’
deficit. If the warrants no longer meet the criteria for equity treatment, they will be recorded as a liability and remeasured each period
with changes recorded in the unaudited condensed statement of operations.

Net
Income (Loss) Per Share

Net
income (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding
during the period. The Company applies the two-class method in calculating earnings per share. Earnings and losses are shared pro rata
between the two classes of shares. The calculation of diluted income (loss) per share of common stock does not consider the effect of
the warrants issued in connection with the (i) Initial Public Offering and (ii) sale of the Private Placement Units, because the warrants
are contingently exercisable, and the contingencies have not yet been met. As a result, diluted income (loss)per share is the same as
basic income (loss) per share for the periods presented.

    F-