Company: FTII
Filing Date: 2025-02-14
Form Type: S-4
Source: 0001493152-25-006997
Chunk: 590

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-02-14
Form: S-4
Chunk 590
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. Aegeria is incorporated in the state of Delaware and is run virtually with no employees, customers, or offices. The Company has an exclusive worldwide license of a biomatrix technology developed at Johns Hopkins University (“JHU”). The platform biomatrix is designed for soft tissue reconstruction and the lead clinical program focuses on the treatment of soft tissue defects including aesthetics and lumpectomy defects.

The Company’s operations are solely for advancing and commercializing the licensed technology. Proceeds from the issuance of equity and debt to our member investors has been used to pay for manufacturing development and internal direct costs such as legal, insurance, accounting, tax, and subcontractors. Clinical development has been primarily funded by a 2015 grant by the Armed Services Institute for Regenerative Medicine and a 2020 grant from the U.S. Army Medical Research Acquisition Activity through JHU.

Going Concern

The Company does not have any current revenues and has an accumulated deficit as of September 30, 2024 of $794,247. As of September 30, 2024, the Company had $29,235 in its operating bank accounts and a working capital deficit of $179,350. If we are unable to raise additional capital, we may be required to take additional measures to conserve liquidity. We cannot provide any assurance that new financing will be available to it on commercially acceptable terms, if at all.

As described in Note 7, the Company is party to a potential business combination that, if completed, would provide the Company with funding. After the business combination, the financing of the Aegeria programs will be dependent on the parent company’s ability to raise additional financing through debt or equity transactions. If the business combination transaction is not completed, the Company will need to seek additional funding and if not successful will need to reevaluate its operating plan and may be required to delay or discontinue its operational initiatives.

As a result of the above and in connection with the Company’s assessment of going concern considerations, management has determined that it lacks the liquidity it needs to sustain operations for a reasonable period of time, which is considered to be one year from the issuance date of these financial statements and therefore raises substantial doubt about the Company’s ability to continue as a going concern. These financial statements do not include any adjustments relating to the recovery of the recorded assets or the classification of the liabilities that might be necessary should the Company be unable to continue as a going concern.

Basis of Presentation

The accompanying unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted