Company: FTII
Filing Date: 2025-08-22
Form Type: 10-Q
Source: 0001641172-25-025250
Chunk: 29

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-08-22
Form: 10-Q
Item: Item 8
Chunk 29
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, 2024, the
Company had $400,000 and $340,000, respectively, in administrative expenses included in accounts payable and accrued expenses on the
Company’s unaudited and audited condensed balance sheets. 

Other
Payable

As
of June 30, 2025 and December 31, 2024, the Company had a payable amount of $299,104 and $17,744,312. In 2025, this amount is associated
with funds withdrawn from the trust for taxes, while in 2024 the amount was associated with the November 2024 redemption. These amounts
are included in the Other Payable on the Company’s unaudited and audited condensed balance sheets. 

Due
from Related Party

As
of June 30, 2025 and December 31, 2024, the Company had a receivable amount of $75,000. This amount is included in the Due from Related
Party on the Company’s unaudited and audited condensed balance sheets. 

RepresentativeShares

The
Company issued to EF Hutton and/or its designees, 115,000 shares of Class A common stock upon the Initial Public Offering. EF Hutton
has agreed not to transfer, assign or sell any such common stock until the completion of the Company’s initial Business Combination.
In addition, EF Hutton has agreed (i) to waive its redemption rights with respect to such common stock in connection with the completion
of the Company’s initial Business Combination and (ii) to waive its rights to liquidating distributions from the Trust Account
with respect to such common stock if the Company fails to complete its initial Business Combination within the Combination Period.

The
representative shares have been deemed compensation by FINRA and are therefore subject to a lock-up for a period of 180 days immediately
following the commencement of sales in the Initial Public Offering pursuant to Rule 5110(e)(1) of FINRA’s NASD Conduct Rules. Pursuant
to FINRA Rule 5110(e)(1), these securities may not be sold, transferred, assigned, pledged or hypothecated or the subject of any hedging,
short sale, derivative, put or call transaction that would result in the economic disposition of the securities by any person for a period
of 180 days immediately following the effective date of the registration statement for the Initial Public Offering, nor may they be sold,
transferred, assigned, pledged or hypothecated for a