Company: FTII
Filing Date: 2025-01-14
Form Type: 10-Q/A
Source: 0001493152-25-002175
Chunk: 13

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-01-14
Form: 10-Q/A
Chunk 13
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,226,803, respectively, is presented as temporary equity, outside of the stockholders’ equity section of the Company’s unaudited condensed balance sheets. The decrease of $ 35,304,636during the three months ended March 31, 2024 in the Class A common stock subject to possible redemption is due to a redemption of $ 36,281,990offset by accretion to the redemption value of $ 615,511and $ 361,843in funds due from the Sponsor during the three months ended March 31, 2024.

As of March 31, 2024 and December 31, 2023, the shares of common stock reflected on the unaudited condensed balance sheets are reconciled in the following table.

Schedule Of Common Stock Reflected On Balance Sheet Reconciliation

| Ending Balance as of December 31, 2022              |     | $ | 118,466,326 |   |
| Redemption of Class A common stock                  |     |   | (64,238,888 | ) |
| Remeasurement of carrying value to redemption value |     |   |   6,552,136 |   |
| Due from Sponsor                                    |     |   |     447,229 |   |
| 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 |     |   |     615,511 |   |
| Due from Sponsor                                    |     |   |     361,843 |   |
| Ending Balance as of March 31, 2024                 |     | $ |  25,922,167 |   |

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 statement of operations.

Net Income (Loss) Per Share