Company: FTII
Filing Date: 2025-02-14
Form Type: S-4
Source: 0001493152-25-006997
Chunk: 432

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-02-14
Form: S-4
Chunk 432
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 Ended December 31, 
 2023               |         |   |     | 2022 |         |   |
|:--------------------------------------|:----|:---------------------------|:--------|:--|:----|:-----|:--------|:--|:----|:-------------------|:--------|:--|:----|:-----|--------:|:--|
| Net                                   
 cash used in operating activities     |     | $                          | (18,988 | ) |     | $    | (24,207 | ) |     | $                  | (29,729 | ) |     | $    | (35,747 | ) |
| Net                                   
 cash provided by financing activities |     | $                          | —       |   |     | $    | —       |   |     | $                  | -       |   |     | $    |  50,000 |   |

Comparison of the nine months ended September 30, 2024 and 2023

Operating Activities

Cash used in operating activities in the nine months ended September 30, 2024 was from our net loss and an increase in an increase in related party accounts payable for patent maintenance fees offset by an decrease in accounts payable to related parties.

| 236 |

Cash used in operating activities in the nine months ended September 30, 2023 was from our net loss and an increase in prepaid expenses for insurance payments offset by an increase in related party accounts payable for patent maintenance fees, accrued interest on loans to related parties and other accounts payable. Financing Activities

There was no cash used in or provided by financing activities in the nine months ended September 30, 2024 and 2023.

Comparison of the years ended December 31, 2023 and 2022

Operating Activities

Cash used in operating activities for the year ended December 31, 2023 was from our net loss offset by an increase in accounts payable and accrued liabilities from related parties. Cash used in operating activities in the year ended December 31, 2022 was from our net income offset by a decrease in related party accrued liabilities, reflecting the reversal of an accrual for amounts due JHU under a license agreement. As noted above, the JHU license agreement was amended in 2022 which resulted in the reversal of amounts previously accrued for minimum annual royalties.

Financing Activities

There was no cash used in or provided by financing activities for the year ended December 31, 2023