Company: FTII
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011790
Chunk: 14

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-05-20
Form: 10-Q
Item: Item 8
Chunk 14
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 shares of common stock subject to possible redemption reflected on the condensed
balance sheets are reconciled in the following table.

 Schedule of Common Stock Reflected on Balance Sheet Reconciled

    Ending Balance as of December 31, 2023 
    $61,226,803 
  
    Redemption of Class A common stock 
     (36,281,990)
  
    Remeasurement of carrying value to redemption value 
     1,518,400 
  
    Redemption amount payable 
     (17,744,312)
  
    Due from Sponsor 
     361,843 
  
    Ending Balance as of December 31, 2024 
    $9,080,744 
  
    Remeasurement of carrying value to redemption value 
     227,396 
  
    Reversal of estimated redemption amount 
     343,638 
  
    Ending Balance as of March 31, 2025 
    $9,651,778 

Warrant Instruments

The Company accounts for the Public Warrants and
the Private Placement Warrants issued in connection with the Initial Public Offering and the Private Placement in accordance with the
guidance contained in FASB ASC 815, “Derivatives and Hedging”. Under ASC 815-40 the Public Warrants and the Private Placement
Warrants meet the criteria for equity treatment and as such will be recorded in stockholders’ deficit. If the warrants no longer
meet the criteria for equity treatment, they will be recorded as a liability and remeasured each period with changes recorded in the unaudited
condensed statements of operations.

Net Income (Loss) Per Share

Net income (loss) per share
is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. The
Company applies the two-class method in calculating earnings per share. Earnings and losses are shared pro rata between the two classes
of shares. The calculation of diluted income (loss) per share of common stock does not consider the effect of the warrants issued in connection
with the (i) Initial Public Offering and (ii) sale of the Private Placement Units, because the warrants are contingently exercisable,
and the contingencies have not yet been met. As a result, diluted income (loss)per share is the same as basic income (loss) per share
for the periods presented.

     F-11 

Note 2 - Summary of Significant Accounting
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