Company: FTII
Filing Date: 2025-01-28
Form Type: 10-Q
Source: 0001493152-25-004006
Chunk: 136

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-01-28
Form: 10-Q
Item: Part I, Item 8
Chunk 136
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NOTE
8 - Fair Value Measurements

The
Company follows the guidance in ASC 820 for its financial assets that are re-measured and reported at fair value at each reporting period.

The
following table presents information about the Company’s assets that are measured at fair value at September 30, 2024 and December
31, 2023, and indicates the Fair Value Hierarchy of the valuation inputs the Company utilized to determine such fair value:

 Schedule of Assets Measured at Fair Value

    Description: 
    Level  
    September 30, 2024  
    December 31, 2023 
  
    Assets: 

    Interest Bearing Bank Demand Deposit held in trust account 
     1  
    $26,932,536  
    $61,839,164 

Note
9 – 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 $0.05 multiplied by the number of public shares of the Company that are not redeemed in connection with the stockholder vote
to approve the Third Charter Amendment, in exchange for a non-interest bearing, unsecured promissory note payable upon consummation of
a business combination, and (ii) giving the holders of shares of Class B Common Stock the right to convert such shares of Class B Common
Stock to shares of Class A Common Stock at any time before the consummation of a business combination or automatically convert to shares
of Class A Common Stock at the closing of a business combination. The Third Charter Amendment was filed as Exhibit 3.1 to the Form 8-K
filed by the Company on November 22, 2024.

    F-18

In
connection with the Third Extension Meeting, holders of 1,564,549 shares of the Company’s publicly traded common stock (the “Third