FutureTech II Acquisition Corp. reported its financial results for the second quarter of 2025, revealing a net loss of $80,647 for the three months ending June 30, 2025, compared to a loss of $44,457 during the same period in 2024. For the first half of 2025, the company recorded a net loss of $370,320, a significant decline from a net income of $85,119 in the first half of 2024. The company's total expenses for the second quarter were $138,735, down from $284,894 in the prior year, primarily due to reduced general and administrative costs. Interest income from the trust account also decreased to $72,477 from $283,084 year-over-year.
The company's balance sheet as of June 30, 2025, showed total assets of $10,580,178, a decrease from $28,120,102 at the end of 2024. This decline was largely attributed to a significant reduction in cash held in the trust account, which fell to $9,133,890 from $26,447,350. Current liabilities also decreased to $6,930,789 from $24,444,031, reflecting a reduction in accounts payable and accrued expenses. However, the company reported a working capital deficit of $5,484,501, up from $5,026,967 at the end of 2024, indicating ongoing liquidity challenges.
FutureTech II is in the process of completing a business combination with Longevity Biomedical, Inc., which was announced in September 2024. The merger agreement includes provisions for Longevity to conduct target acquisitions and subsequently merge with FutureTech II. The company has received stockholder approval for a twelve-month extension to complete the business combination, now set for August 18, 2026. This extension is critical as the company had previously faced potential delisting from Nasdaq due to not completing a business combination within the required timeframe.
Operationally, FutureTech II has not yet commenced any revenue-generating activities, as it remains focused on identifying a suitable target for its business combination. The company’s cash position improved slightly from $56,768 at the end of 2024 to $160,723 by mid-2025, but it continues to rely on funding from its sponsor to meet operational needs. The company’s management has expressed concerns about its ability to continue as a going concern if additional capital is not secured.
Looking ahead, FutureTech II's management remains optimistic about the potential of the proposed merger with Longevity Biomedical, which they believe could enhance shareholder value and provide a pathway to future growth. However, the company acknowledges the risks associated with market conditions, geopolitical tensions, and the ongoing need for financing to support its operations and the completion of the business combination.
About FutureTech II Acquisition Corp.
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