Company: FTII
Filing Date: 2025-04-09
Form Type: 10-K
Source: 0001641172-25-003384
Chunk: 476

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-04-09
Form: 10-K
Item: Item 1A
Chunk 476
---
    Due from Related party 
     (75,000) 
     - 
  
    Proceeds
    from issuance of debt – related party 
     1,025,001  
     2,925,000 
  
    Net
    cash used in financing activities 
     (34,894,533) 
     (60,300,590)

    Net change in cash 
     39,190  
     (245,178)

    Cash – Beginning of the period 
     17,578  
     262,756 
  
    Cash – End of
    the period 
    $59,768  
    $17,578 

    Supplemental disclosure of non-cash financing
    activities: 

    Accretion to redemption value 
    $1,518,400  
    $6,552,136 
  
    Excise tax on Class A common stock redemptions 
    $527,698  
    $642,389 
  
    Overpayment of redemption amount included in
    Due from Sponsor 
    $361,843  
    $- 
  
    Redemption payment payable 
    $17,744,312  
    $- 
  
    Conversion of Class B common stock 
    $288  
    $- 

The
accompanying notes are an integral part of these financial statements.

F-6

FUTURETECH
II ACQUISITION CORP.

NOTES
TO FINANCIAL STATEMENTS

Note
1 - Description of Organization and Business Operations, Going Concern and Basis of Presentation

FutureTech
II Acquisition Corp. (the “Company”) is a blank check company incorporated in Delaware on August 19, 2021. The Company was
formed for the purpose of effectuating a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or other similar
business combination with one or more businesses (the “Business Combination”). The Company is an early stage and emerging
growth company and, as such, the Company is subject to all of the risks associated with early stage and emerging growth companies.

As
of December 31, 2024, the Company had not commenced any operations. All activity for the period from April 13, 2021 (inception) through
December 31, 2024 relates to organizational activities, identifying a target company for a business combination, and activities in connection
with the proposed Business Combination with