Company: FTII
Filing Date: 2025-02-14
Form Type: S-4
Source: 0001493152-25-006997
Chunk: 606

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-02-14
Form: S-4
Chunk 606
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 2023 and 2022

Note 6 – Income (Loss) per Common Unit

The following table presents the computation of basic and diluted net income (loss) per unit attributable to common unitholder’s:

|                                                     |     | Year Ended December 31, 
 2023                    |           |   |     | 2022 |            |
|:----------------------------------------------------|:----|:------------------------|----------:|:--|:----|:-----|-----------:|
| Numerator:                                          |     |                         |           |   |     |      |            |
| Net (loss) income                                   |     | $                       |   (43,219 | ) |     | $    |    100,512 |
| Denominator:                                        |     |                         |           |   |     |      |            |
| Weighted average common units outstanding - basic   |     |                         | 8,924,201 |   |     |      |  8,924,201 |
| Dilutive effect of preferred units                  |     |                         |         - |   |     |      |  1,196,492 |
| Weighted average common units outstanding - diluted |     |                         | 8,924,201 |   |     |      | 10,120,693 |
| Net (loss) income per common unit                   |     |                         |           |   |     |      |            |
| Basic                                               |     | $                       |     (0.00 | ) |     | $    |       0.01 |
| Diluted                                             |     |                         |     (0.00 | ) |     |      |       0.01 |

As of December 31, 2023, a total of 1,199,013 convertible preferred units were excluded from the calculation of diluted net loss per common unit as their effect on diluted net loss would have been anti-dilutive.

Note 7 - Commitments and Contingencies

Johns Hopkins University License Agreement

As discussed in Note 4, the Company has an exclusive worldwide license of a biomatrix technology developed at JHU, as amended. The Company is obligated to reimburse JHU for patent maintenance costs incurred for the licensed intellectual property. In addition, the Company is obligated to pay certain milestone fees upon commercial approval of any product developed from the licensed technology as well as payments upon reaching agreed upon sales milestones. The license agreement also includes minimum annual royalty payments commencing in