Company: FTII
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011790
Chunk: 59

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-05-20
Form: 10-Q
Item: Item 8
Chunk 59
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 expenses 
     (88,988) 
     (400,511) 
     (214,607) 
     (192,159)
  
    Less: Accretion of carrying value to redemption value 
     (686,300) 
     -  
     (139,166) 

    Total 
    $(575,461) 
    $(400,511) 
    $182,170 
    $(192,159)
  
    Basic and diluted net income (loss) per share of common stock 
    $(0.74) 
    $(0.11) 
    $0.05  
    $(0.05)

Recent Accounting Standards

In November 2023, the
FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires public
entities to disclose significant segment expenses and other segment items on an interim and annual basis and provide in interim
periods all disclosures about a reportable segment’s profit or loss and assets that are currently required annually. The ASU
does not change how a public entity identifies its operating segments, aggregate them, or applies the quantitative threshold to
determine its reportable segments. The new disclosure requirements are also applicable to entities that account and report as a
single operating segment entity. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and for interim
periods within fiscal years beginning after December 15, 2024. The Company adopted the guidance for the annual reporting period
ended December 31, 2024. There was no impact on the Company’s unaudited condensed financial statements.

Management does not believe
that any recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on our
unaudited condensed financial statements.

 11 

Item 3. Quantitative and Qualitative Disclosures
About Market Risk

Not required for smaller reporting companies.

Item 4. Controls and Procedures

Evaluation of Disclosure
Controls and Procedures

Disclosure controls are
procedures that are designed with the objective of ensuring that information required to be disclosed in our reports filed under the Exchange
Act, such as this Report, is recorded, processed, summarized, and reported within the time period specified in the SEC’s rules and
forms. Disclosure controls are also designed with the objective of ensuring that such information is accumulated and