Company: FTII
Filing Date: 2025-02-14
Form Type: S-4
Source: 0001493152-25-006997
Chunk: 559

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-02-14
Form: S-4
Chunk 559
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     | $                  |  310,259 |   |

In assessing the realization of the deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which temporary differences representing net future deductible amounts become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. After consideration of all of the information available, management believes that significant uncertainty exists with respect to future realization of the deferred tax assets and has therefore established a full valuation allowance. For the years ended December 31, 2023 and 2022, the change in the valuation allowance was $ 162,267and $ 98,101, respectively.

Schedule of Effective Income Tax Rate Reconciliation

|                             |     | For the Year Ended 
 December 31, 2023  |       |    |     | For the Year Ended 
 December 31, 2022  |       |    |
|:----------------------------|:----|:-------------------|:------|:---|:----|:-------------------|:------|:---|
| U.S. federal statutory rate |     |                    | (21.0 | )% |     |                    | (21.0 | )% |
| Valuation allowance         |     |                    | (4.2  | )% |     |                    | (9.8  | )% |
| Income tax provision        |     |                    | (25.2 | )% |     |                    | (30.8 | )% |

Note 11 – Subsequent Events

The Company evaluated subsequent events and transactions that occurred after the balance sheet date. Based upon this review the Company identified the following subsequent events, that would have required adjustment or disclosure in the unaudited condensed financial statements.

Extension of Combination Period

On November 18, 2024, the Company held the Third Extension Meeting at which the Company’s stockholders approved the Third Charter Amendment by requisite votes, (i) giving the Company the right to extend the deadline of Combination Period from November 18, 2024 to August 18, 2025, provided that the Sponsor (or its affiliates or permitted designees) will deposit into Trust Account an aggregate amount equal to $ 0.05multiplied by the number of public shares of the Company that are not redeemed in