Company: FTII
Filing Date: 2025-02-14
Form Type: S-4
Source: 0001493152-25-006997
Chunk: 422

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-02-14
Form: S-4
Chunk 422
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|-----------:|:--|
| Net                                   
 cash used in operating activities     |     | $    |                          (1,536,693 | ) |     | $    | (2,127,472 | ) |     | $    |                  (2,719,315 | ) |     | $    | (1,921,567 | ) |
| Net                                   
 cash used in investing activities     |     | $    |                                   — |   |     | $    |          — |   |     | $    |                           — |   |     | $    |     (3,371 | ) |
| Net                                   
 cash provided by financing activities |     | $    |                           1,460,945 |   |     | $    |  1,897,050 |   |     | $    |                   2,422,138 |   |     | $    |  2,150,000 |   |

Comparison of the nine months ended September 30, 2024 and 2023

Operating Activities

During the nine
months ended September 30, 2024, net cash used in operating activities consisted of $3.6 million in expenses incurred for the Target
Acquisitions offset by $1.0 million loss on extinguishment of debt due to modifying the convertible debt terms with FutureTech Capital,
LLC, an increase in accounts payable of $0.3 million, accounts payable -related party of $0.3 million and accrued interest - related
party of $0.3 million.

During the nine months ended September 30, 2023, net cash used in operating activities consisted of $2.1 million in expenses incurred for the Acquisition Transactions and an increase in accounts payable offset by a decrease in accrued liabilities.

Investing Activities

During the nine months ended September 30, 2024 and 2023 there were no investing activities.

Financing Activities

During the nine months ended September 30, 2024, net cash provided by financing activities consisted of net proceeds from promissory notes issued to FutureTech Capital in the amount of $1.5 million offset by deferred financing costs paid of 20,000 associated with the Business Combination with Denali Capital Acquisition Corp. that was terminated. During the nine months ended September 30, 2023, net cash provided by financing activities was from net proceeds from promissory notes with FutureTech Capital of $2.2 million offset by deferred financing costs paid