Company: FTII
Filing Date: 2025-08-22
Form Type: 10-Q
Source: 0001641172-25-025250
Chunk: 88

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-08-22
Form: 10-Q
Item: Item 2
Chunk 88
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 revenues until
after the completion of its initial Business Combination, at the earliest. The Company will generate non-operating income in the form
of interest income on cash and cash equivalents from the proceeds derived from the Initial Public Offering We incur expenses as a result
of being a public company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses.

For
the three and six months ended June 30, 2025, we had net losses of $80,647 and $370,320, which consisted of investment income of $72,477
and $272,304, respectively, partially offset by expenses of $138,735 and $592,572 and tax expense of $14,389 and $50,052, respectively.
Expenses were higher in 2025 compared to 2024 due to due diligence costs related to a potential business combination transaction.

For
the three and six months ended June 30, 2024, we had net loss and net income of $44,457 and $85,119, which consisted of
investment income of $283,084 and $819,427, respectively, partially offset by expenses of $284,894 and $595,828 and tax expense of
$42,647 and $138,480, respectively.

Liquidity
and Capital Resources

In
connection with the Company’s assessment of going concern considerations in accordance with Financial Accounting Standard Board’s
Accounting Standards Update (“ASU”) 2014-15, “Disclosures of Uncertainties about an Entity’s Ability to Continue
as a Going Concern,” the Company has until August 18, 2025 to complete a Business Combination. It is uncertain that the Company
will be able to consummate an initial Business Combination by this time. If an initial Business Combination is not consummated by this
date and the Company has not exercised its option to extend the deadline, there will be a mandatory liquidation and subsequent dissolution
of the Company. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern.
The unaudited condensed financial statements do not include any adjustments that might result from the Company’s inability to continue
as a going concern.

9

The
Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Cash
equivalents are carried at cost, which approximates fair value. The Company had $160,723 in cash and no cash